New Hong Kong Shipowners
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Hong Kong has a new shipowner. A fabric manufacturer looking to diversify has moved to snap up an Indonesian coal mine plus a Singaporean shipping concern.
Hong Kong-listed Kwong Hing International is spending HK$160m to take
over Singapore tug and barge operator Rimau Shipping, while the company
will also spend HK$840m to purchase a 60% stake in mining and coal
trading company, PT Rimau Indonesia.Rimau Shipping owns four tugs and two barges, which have a total carrying capacity of 16,000 tonnes.
Source: SeaTradeAsia-Online
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Yanzhou Coal Mining Co., a unit of China’s fourth-biggest producer of the fuel, said first-half profit was reduced by 75.8 million yuan ($11.1 million) because of an accounting change at the start of the second quarter. The Shandong-based company adjusted the so-called rate of residual value, or the remaining realizable value of
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Chinese army soldiers are being deployed on board Hong Kong-registered ships sailing off Africa to counter the threat of pirates, a newspaper reported on Monday. The People’s Liberation Army is providing special forces soldiers to patrol slower, vulnerable Hong Kong-registered ships as they sail through the Gulf of Aden, the
Hong Kong and Huizhou city in Guangdong province have formed closer ties in infrastructure construction and financial services. Hong Kong and Huizhou would sign and engage in a total of 12 major infrastructure construction projects located in Huizhou, concerning total investments of US$3 billion. The two will work on several
Hong Kong and Huizhou city in Guangdong province have formed closer ties in infrastructure construction and financial services. Hong Kong and Huizhou would sign and engage in a total of 12 major infrastructure construction projects located in Huizhou, concerning total investments of US$3 billion. The two will work on several
Yanzhou Coal Mining Co., China’s fourth-biggest producer of the fuel, said it plans to sell shares in its Australian operations by the end of 2012. An initial public offer would include Yanzhou’s Austar coal mine in New South Wales, and the operations of Felix Resources Ltd., Yanzhou Coal said in
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