Search results for: China Merchants Group

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  • 10 April 2019
    Business & Finance

    Viking and China Merchants would form a joint venture to form a cruise line for the Chinese cruise market.

  • 4 February 2013

    Dalian Shipbuilding Industry Corp (DSIC), China Shipbuilding & Offshore International Co (CSOC) and China Merchants Energy Shipping (CMES) have signed an agreement for the construction of 3+2 very large crude carriers (VLCCs). The signing ceremony, held on Friday, February 1st, was attended by the president of China Merchants Group, Mr. Wang Hong the Merchants’ Chairman Mr. […]

  • 29 December 2015
    Business & Finance

    China Merchants Group’s acquisition of Sinotrans & CSC Holdings Co has received official clearance from the Chinese government, the state asset regulator said on Tuesday. Hong Kong-listed Sinotrans informed that it has been notified by the state-owned Assets Supervision and Administration Commission of the State Council (SASAC) of the Council’s approval of the “reorganisation between Sinotrans & CSC and […]

  • 11 March 2016
    Business & Finance

    Chinese shipping companies Cosco Group, China Merchants Group and ICBC Financial Leasing Co. are reported to have stacked up orders for 30 Valemax ore carriers worth a total of USD 2.5 billion, the Wall Street Journal writes. The trio is said to have ordered 10 ships respectively at local yards, namely Shanghai Waigaoqiao Shipbuilding, Beihai Shipbuilding, CIC Jiangsu and Yangzijiang […]

  • 8 September 2015
    Business & Finance

    China’s shipping majors China Merchants Energy Shipping (CMES), a subsidiary of China Merchants Group, and Sinotrans & CSC Holdings Co. Ltd denied media reports on potential merger between the two companies. The information on the merger was disclosed last week by local media citing sources familiar with the matter from the two companies and SASAC Enterprise Reform Bureau. As informed, […]

  • 8 September 2015
    Business & Finance

    China’s shipping majors China Merchants Energy Shipping (CMES), a subsidiary of China Merchants Group, and Sinotrans & CSC Holdings Co. Ltd denied media reports on potential merger between the two companies. The information on the merger was disclosed last week by local media citing sources familiar with the matter from the two companies and SASAC Enterprise Reform Bureau. As informed, […]

  • 20 May 2015
    Business & Finance

    Brazilian mining giant Vale S. A. (Vale) has concluded the contract with China’s bulk carrier specialist, the China Ocean Shipping Company (Cosco), on the sale four very large ore carriers. The sale of 400,000 tons deadweight carriers, owned and currently operated by Vale, stems from the previously disclosed agreement signed with Cosco on September 12, […]

  • 18 May 2010

    Shenzhen Chiwan Wharf Holding, a port unit of China Merchant’s Group, have acquired a 40 percent stake in Laizhou port in Shandong province… [mappress] Source: chinadaily, May 18, 2010

  • 17 August 2011

    Hong Kong’s China Merchants Group together with Cosco Group, IMC Group and Qingdao Port have held a joint venture signing ceremony… (transportweekly) [mappress] Source: transportweekly, August 17, 2011

  • 17 March 2016
    Business & Finance

    State-owned corporation China Merchants Group became the latest applicant to buy London’s Baltic Exchange, according to sources cited by Reuters saying that the company made an informal bid for the business. The group’s subsidiary, China Merchants Securities, made the informal offer for the business, considered to be the global shipping hub, which would provide the company […]

  • 18 July 2014
    Business & Finance

    Asciano Limited has responded to media speculations linking the company with China Merchants Group as a potential buyer of the company’s terminals and logistics division Patrick Terminals.   The announcement has followed the speculations that the China Merchants Group put forward a USD 1bn offer for a majority stake in the business, which runs international container terminals in Sydney, Melbourne, […]

  • 11 November 2019
    Business & Finance

    The company said it would pay no more than USD 85 million per ship.

  • 26 September 2014
    Business & Finance

    Vale S.A. (Vale) and China Merchants Group signed in Beijing on September 26 a contract by which Vale will lease  ten very large ore carriers to be built by China Merchants for a period of 25 years. The VLOCs will be used to transport Vale’s iron ore from Brazil to China.​ This contract can be viewed […]

  • 14 April 2017
    Business & Finance

    Chinese state-owned corporation China Merchants Group (CMG) is looking to spread its footprint in Brazil as the company is reportedly in negotiations to buy Advent International Corp’s 50 percent stake in TCP Terminal de Contêineres de Paranaguá SA, local media informed. Namely, the conglomerate is preparing to acquire the stake in Brazil’s second-busiest container port, which was put […]

  • 5 February 2014

    China Merchants Energy Shipping (CMES), a subsidiary of China Merchants Group, has exercised options to construct additional four ultramaxes at Chengxi Shipyard, the company announced in a Shanghai Stock Exchange filing.   Financial details of the contract were not disclosed. The ordered vessels are fuel-efficient bulkers with the capacity of 64,000 dwt. The vessels’ delivery […]

  • 11 April 2017
    Business & Finance

    The long-awaited merger agreement between China Merchants Group and Sinotrans & CSC Holdings was finalized on April 10, according to a statement released by Sinotrans Shipping Limited. With the strategic reorganisation, China’s Sinotrans & CSC became a wholly-owned subsidiary of Hong Kong-based China Merchants. The merged corporation is expected to further improve the competitiveness of China’s state enterprises and […]

  • 21 January 2020
    Business & Finance

    CMES has decided to integrate the shipping assets of its subsidiary Sinotrans & CSC Holdings.

  • 16 November 2015
    Business & Finance

    Shanghai-listed China Merchants Energy Shipping, a subsidiary of China Merchants Group, has issued a stock filing saying that its board approved a plan to order ten very large ore carriers (VLOC) as part of a charter deal with Brazil’s mining giant Vale. CMES said that two of the 400,000 dwt bulk carriers will be constructed at […]

  • 14 November 2014
    Business & Finance

    Chinese shipping conglomerates China Shipping Group (CSG) and China Merchants Group signed  a strategic cooperation deal on port development, financing and shipping services on Wednesday, November 12th. The move comes as the Chinese Government encourages predominantly state-owned shipping companies to join forces in recovering the sluggish industry. Under the agreement, the companies plan to work together on reforms […]

  • 20 September 2018
    Business & Finance

    Sinotrans Shipping, part of Sinotrans & CSC Holdings, has unveiled the possibility of a privatization.

  • 7 March 2013

    Shanghai Waigaoqiao Shipbuilding Co., Ltd. (SWS) has won a contract to build 3 plus 2 318.000 DWT very large crude carriers (VLCCs) for China Merchants Energy shipping (CNES). It is reported that this series of vessels is the latest generation of environmentally friendly VLCCs optimized and designed by SWS and MARIC. The highlights of the […]

  • 10 April 2020
    Business & Finance

    Shanghai-listed China Merchants Energy Shipping (CMES) has placed an order with Jinling Shipbuilding, a shipyard of China Merchants Group, for four open hatch bulk carriers. The 62,000 dwt bulkers will cost US$ 29.6 million per ship, pushing the total investment to US$ 118.6 million. The newbuilds are scheduled for delivery in 2022. CMES said that […]