The deal was closed after lengthy negotiations, which are believed to have been dragging on since autumn 2016, and will come into effect from 27 July, according to a statement issued by Harren & Partner on Wednesday.
China's largest carrier resumed trading on the Shanghai Exchange today following a 10-week suspension.
Bahri has suffered a sharp fall in profits due to lower spot rates and increased bunkering costs.
Most of the subsidies will be used to fund research and development.
One of the most well-known names in ship management, Anglo-Eastern’s executive chairman Peter Cremers speaks about the importance of evolving as a company.
Mermaid Maritime recently won two subsea contracts, adding USD4.6 million to its orderbook.
DSME loses Songa Offshore arbitration over costs over-runs and additional work on the rigs, Songa Equinox and Songa Endurance.
Rickmers Maritime, which had ambitious plans to expand following an oversubscribed initial public offering in 2007, will be delisting from the Singapore Exchange.
As Brazil goes, so goes South America when it comes to the economy and trade – and Brazil is now clinging to a tenuous recovery after an extended recession.