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Dalian, Yingkou ports set to merge in Liaoning port group

PostTime:2017-06-15 09:01:57 View:61

More consolidation is inching along in the China maritime sector as authorities now seem to turn their attention to the port sector, with Dalian Port announcing that it will enter into a cooperation agreement with China Merchants Group (CMG) and the Liaoning government. The company said in a stock market announcement that had "been informed by its controlling shareholder, Dalian Port Corporation that it had received a notice from the Liaoning Provincial People’s Government in relation to a Port Corporation Framework Agreement entered into between Liaoning Government and China Merchants Group”. The giant CMG is the parent of China Merchants Holdings (International) (CMHI), which in turn is a substantial shareholder of Dalian Port. The agreement is aimed at working towards a unified operation platform for Liaoning ports and to establish a Liaoning port group combining Dalian Port and Yingkou Port Group Corporation, which will ultimately lead to the integration of the port management of Liaoning province. The Liaoning government is expected to support CMG’s investment into Liaoning Port Group which is expected to be incorporated and set up by the end of the year. The somewhat ambitious timeline to complete the integration of other ports management entities within Liaoning Province is by the end of 2018. CMG is also seen as taking the lead in the management of Liaoning Port Group and promoting the business reorganization and structure optimization of the ports under the jurisdiction of Liaoning Port Group.The move is aimed at "enhancing the cooperation and development of ports, international  competitiveness, promoting the development of shipping centres and related industries with Liaoning Port Group as the core enterprise," Dalian Port said in its announcement. It warned however that "as at the date of this announcement, the specific cooperation measures with respect to the cooperation are unknown to the company". "The board wishes to emphasize that the agreement is a framework agreement, it is uncertain that whether, when and how the company will be integrated and how the company will be affected," it concluded..In May this year, the Jiangsu Port Group was formed through the consolidation of the two major port companies in the province, Nanjing Port and Lianyungang Port. It is meant to reduce competition and maximise economies of scale while increasing efficiency of the Belt and Road initiative. Yingkou Port is northeast of Dalian, deeper in the Bohai Bay to serve more inland areas of Liaoning province. Yingkou Port Group has a FTZ and a regular rail connection to Europe which began in 2013 and connects seven cities in four countries in line with the Belt and Road initiative.

Dalian going for Bohai Rim transhipment market

PostTime:2016-11-28 08:12:25 View:121

As the only port in northeastern China to be included in the Belt and Road plan, Dalian stands in good stead to benefit in the future. Speaking at a regional forum on the area at the Asian Logistics and Maritime Conference in Hong Kong, Dalian Port director Tai Jingang said the port is going to focus on transhipment traffic within the Bohai Rim region. In particular he is aiming to expand its reach to the Japan and South Korea markets to build up volumes. Tai added that the port is also working with major lines on the US and Southeast trade lanes and looking to boost calls, especially from mainline carriers. He is confident that Dalian Port will be able to serve over 150 by 2020 from 106 currently. Dalian port is also a major feeder port in the Bohai Rim region, with some 70 services a week covering 15 ports, Tai pointed out. Other investments include adding capacity to the Eurasian rail network to boost capacity to 600,000 teu a year by 2020 from the current 45,000 teu. Furthermore, with approvals given for a new free trade area in Dalian the development of port services will be boosted, Tai said. There are also plans to develop trade finance, insurance and double taxation agreements to increase Dalian's attractiveness as a platform for international trade, he concluded.  

Dalian Port first half profit declines on China’s slowing economy

PostTime:2016-08-30 08:12:13 View:116

Dalian Port (PDA) Company Limited saw its first half profit has declined on the back of China’s slowing economy, which is anticipated to extend into the second half of this year. Net profit for the six months ended 30 June 2016 was recorded at RMB221.09m ($33.16m), down 22.7% from RMB286.03m in the previous corresponding period. The profit was attributed to stronger contributions from the bulk grain segment, ore segment and general cargo segment, but offset by lower contributions from the oil segment, container segment, passenger and ro-ro segment, and the value-added services segment. “Due to signs of stabilisation in the global economy, the confidence in financial markets rebounded in the first half of 2016 with rallying bulk commodity prices,” Dalian Port commented. “However, the real economy remained weak with sluggish market demand. Impacted by the continuing downward pressure on China’s economy, the growth in investment, consumption, and import and export trade slowed down.” First half revenue for the group, however, rose by 58% year-on-year to RMB6.48bn. In the second half, the recovery of the global economy will remain slow, according to Dalian Port. “In China, the economy will have steady growth and continue its restructuring, while downward pressure will remain. The group further noted that “the enduring sluggish domestic and overseas demand, the low commodity prices and other factors are expected to drag down the growth rate of total imports and exports of China.”

COSCOL's 5,380-RT car carrier makes local deliveries Nansha to Dalian

PostTime:2016-07-01 08:39:16 View:128

THE 53,240-gross ton Yu Heng Xian Feng, a 5,380-RT unit COSCOL car carrier loaded at the Nansha Automotive Terminal and run along the coast from the Pearl to Shanghai and on to Dalian. With the decades of development of automobile sea transport along China's coast, the capacity of the car carrier has expanded from the few hundred to the 2,000 - 3,000. Today it breaks the 5,000 RT barrier with a cargo of 5,380. The 180-metre Yu Heng Xian Feng is on her maiden voyage in the domestic trade, and carries many brands, GHAC, Trumpchi, FAW-Volkswagen and Nissan.  

CMHI invests $558m to own new shares in Dalian Port

PostTime:2016-01-14 08:09:27 View:162

Port operator China Merchants Holdings (International) Company (CMHI) will spend HKD4.33bn ($558m) to own new shares issued by Dalian Port (PDA) Company, making it the second largest shareholder upon completion of the deal. Hong Kong-listed Dalian Port has entered into a subscription agreement with CMHI to issue 1,180,320,000 shares as a first tranche placing shares at a price of HKD3.67 per share, or HKD4.33bn in total. The placing price of HKD3.67 per share represented a discount of approximately 5.51% to the average closing price of HKD3.884 per share on the stock exchange for the last five consecutive trading days prior to the date of the subscription agreement on 12 January. Upon completion of the deal, CMHI will become the second largest shareholder in Dalian Port with 21.05% stake while Dalian Port Corporation will see its controlling stake of 52.16% fall to 41.18%. Dalian Port will use the net proceeds from the first tranche placing to develop its oil business, cope with investments in or optimise and integrate domestic and foreign ports in line with the One Belt, One Road strategy, enhance the intelligent level of the port operation management platform, construct logistics facilities, and replenish working capital. CMHI, at present, has a comprehensive port network in the major coastal regions in China, and is also involved in strategic investments and owned operating rights across coastal hub ports in Hong Kong, Shenzhen, Ningbo, Shanghai, Qingdao, Tianjin, Xiamen Bay and Zhanjiang.

Cosco Dalian hit by bulker newbuild cancellation and delivery delay

PostTime:2015-12-24 08:04:26 View:205

China’s Cosco (Dalian) Shipyard has agreed with a shipowner to cancel one unit of 82,000 dwt dry bulk carrier and to push back the delivery for a second sister ship by close to two years. The Chinese state-owned shipyard has acceded to the request from the Asian shipowner to terminate the shipbuilding contract which was originally scheduled for delivery in the first quarter of 2016. The agreement has one other 82,000 dwt bulker originally slated for delivery in the fourth quarter of 2015 but will be rescheduled for delivery in the third quarter of 2017. “As at the date of the announcement (23 December 2015), construction of neither vessel has commenced and the downpayment received by Cosco Dalian for the cancelled vessel will be applied towards the other vessel,” said Cosco Corporation (Singapore), the parent of Cosco Shipyard which owns the Dalian yard.

Dalian Port profit drops 11% in first nine months

PostTime:2015-10-27 08:19:55 View:158

China’s Dalian Port Company has reported a fall in profit for the first nine months of 2015, despite an increase in revenue. Profit for the period from January-September 2015 was recorded at RMB371.18m ($58.52m), a 11.3% decline compared to the gain of RMB418.54m in the same period of last year. The group revenue, however, rose by 17.5% year-on-year to RMB6.51bn due mainly to the increase in throughput, contributions from the container agency business, as well as the tugging business and information services. The growth in revenue was offset by the reduction of the bulk grain and ore throughput. “Affected by the overall downturn of the industry and the ports in the surrounding areas, transhipment of ore at ore terminals decreased,” Dalian Port Company said. It added that the bulk grain terminal was also impacted by the general downturn in the grain transportation industry of China.

Shanhaiguan Shipbuilding furnish two 1,100-TEUers for Dalian Port Group

PostTime:2015-09-25 08:08:24 View:199

SHANHAIGUAN Shipbuilding Industry has signed contracts with Dalian Jifa Ship Management and Dalian Port Wantong Logistics to build two 1,100-TEU vessels. The deal includes options for four more containerships. The vessels will be deployed in domestic coastal and Yangtze River markets. Delivery is scheduled to begin next year, reported CNSS.com. Dalian Port Wantong Logistics is a wholly owned subsidiary of Dalian Port Group, and mainly operates domestic China shipping services. Dalian Jifa Ship Management is a joint venture between Dalian Port Group and Dalian Jifa Bohai Rim Container Lines.

Cosco Dalian yard resolves arbitration over drillship contract

PostTime:2015-09-07 10:40:11 View:170

Cosco Corporation (Singapore) has updated that its subsidiary yard Cosco (Dalian) Shipyard has resolved an arbitration over a construction contract for one deepwater drillship. An arbitral tribunal in London has ruled that Cosco (Dalian) Shipyard, having repaid to the shipowner the first instalment together with interest thereon, is no longer liable to the shipowner for any further liabilities. The shipowner, Dalian Deepwater Developer, had placed an order worth more than $500m to build one DP3 deepwater drillship at the Cosco yard back in July 2010. By August 2013, Dalian Deepwater served a notice to the shipyard to terminate the contract due to delivery delay, and in September the same year requested for arbitration in London to claim a refund of the first instalment paid amounting to $110m and other advances paid plus interest and other associated costs. “The board wishes to announce that an arbitration award has now been issued,” Cosco Corp said.

STX Dalian sold unfinished vessel

PostTime:2015-07-02 08:44:46 View:286

 It appears that the bankrupt STX Dalian Group sold its 23,000 dwt stock carrier (Hull No. 1093) through an auction.    It was once said that Zhong Lun, a trustee of STX Dalian, opened an auction for the stock carrier and 400,000 dwt very large ore carrier (VLOC, Hull No 1707) under the authorization of Intermediate People's Court of Dalian city early June, however no bidders appeared. Construction of the two vessels has been stopped at STX Dalian-affiliated STX (Dalian) Shipbuilding.    Accordingly, the auction was opened again on June 26 and Wellard Group of Australia bought the stock carrier at around CNY 108m (around $17.4m)-134.4m, a China's local source conveyed.    Assessment price of the VLOC was reportedly CNY 180.76m, however it remained unsold.    Meanwhile, the Chinese court advanced auctions twice last May and June for land use right, structures, production institutions, vessels under construction and vehicles of six STX Dalian-affiliated corporate bodies, STX (Dalian) Shipbuilding, STX (Dalian) Heavy Industries, STX (Dalian) Marine Engineering, STX (Dalian) Engine, STX (Dalian) Metal, STX (Dalian) Plant, worth CNY 5.8bn in total, but they have not been sold. 

Dalian carrier, yard, Lloyd's Register produce low-ballast ship design

PostTime:2015-05-05 08:36:46 View:347

DALIAN Shipbuilding Industry China (DSIC), Dalian Ocean Shipping and Lloyd's Register, have completed a joint industry project to develop a minimum ballast very large crude carrier, reports London's Tanker Operator. The partners have since continued to develop a further detailed designs to provide a series of reduced ballast Suezmax and Aframax tanker designs. The "Clear Advantage" reduced ballast designs provide substantial performance improvements over conventional tanker designs, the partners said, without describing the method employed. The benefits are said to be reduction fuel consumption during ballast passages; a reduction in ballast water treatment capacity, and time, energy and penalties as well as a reduction damage done by mud or silt. Mud and silt are significant operational realities in China where terminals are on riverbanks. Intake of river water ballast during cargo discharge can result in substantial volumes of mud or silt accumulating after operations leading to as much as 1,000 tonnes becoming stuck in ballast water tanks. The combined impact of the loss of cargo capacity, the economic drain of transporting the mud during laden passages and the eventual cost of removing the muddy slurry, as well as the strain on ballast water treatment systems have all been reduced in the new "Clear Advantage" designs.  

Delivery of two jack-up rigs at Cosco Dalian to be delayed

PostTime:2015-04-02 08:03:13 View:234

Cosco Dalian Shipyard has agreed to delay the delivery of two jack-up rigs. Cosco Corp, majority shareholder in Cosco Dalian, said the yard had agreed with request from the shipowner to delay the delivery two LeTourneau Super 116E jack-up drilling rigs by nine months. The rigs ordered in November 2013 by Bermuda-based company will now be delivered in December 2016 and June 2017.