1.Wärtsilä announced on Monday it has won a contract to supply 40 generating sets for 12 new liquefied natural gas (LNG) fueled platform supply vessels (PSV), the first such vessels to be built for China Oilfield Services Co Ltd (COSL) at the Wuchang Shipbuilding Heavy Industry yard and the Liaonan Shipyard in China.
2.Landbridge VLCC International, the Hong Kong-based subsidiary of China’s Landbridge Group announced it had concluded a sale and lease back transaction for a VLCC, with alternative investment form, Varde Partners. The deal was arranged by Pareto Securities.
3.According to the preliminary estimate, the consumption of natural gas in China exceeded 27 million cubic meters in 2018, registering a YOY increase of more than 10%, said a report.
4.Ten years after the adoption of IMO’s Hong Kong Convention for the Safe and Environmentally Sound Recycling of Ships, in May 2009, there has been progress with voluntary application of its requirements, but the treaty needs to enter into force for it to be widely implemented. For this reason, IMO Secretary-General Kitack Lim urged Member States who have not yet ratified the Convention, to do so, in order to bring it into force as soon as possible.
5.Qingdao-based Agricore Shipping has acquired its second bulker, and looks set to add a third, having arrived onto the shipowning scene almost totally unnoticed.Agricore is behind the $9m acquisition of 2005-built post-panamax bulker Alam Pintar from Singapore’s PCL.
6.The China State Shipbuilding Corp (CSSC), the nation's largest shipbuilder, will build China's first luxury cruise ship, which is expected to begin operations as early as 2021, said a report in SCMP.
7.On Monday, China announced that it would raise tariffs on $60 billion worth of American exports and the U.S. formally began the process to implement tariffs on an additional $300 billion in Chinese-made goods, raising fears that the trade war between Beijing and Washington could escalate sharply.
8.Shanghai Shipping Maritime Technology, a subsidiary of Cosco Shipping, has inaugurated a new ship repair yard in Zhoushan.The new yard, located on Liuhengdao of Zhoushan, will be an addition to Cosco Shipping Heavy Industry’s existing ship repair business in Dalian, Nantong, Zhoushan and Guangzhou.
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