By Matthew Tostevin HANOI, Aug 14 (Reuters) - The drilling ship at the center of a row between Vietnam and China over oil prospecting in disputed waters in the South China Sea has arrived in waters off the Malaysian port of Labuan, shipping data in Thomson Reuters Eikon showed on Monday. Drilling by the Deepsea Metro I ship was suspended in Vietnam's Block 136/3 last month … [Read more...]
U.S. Destroyer Challenges China’s Claims in South China Sea
By Idrees Ali WASHINGTON, Aug 10 (Reuters) - A U.S. Navy destroyer carried out a "freedom of navigation operation" on Thursday, coming within 12 nautical miles of an artificial island built up by China in the South China Sea, U.S. officials told Reuters. The operation came as President Donald Trump's administration seeks Chinese cooperation in dealing with North Korea's … [Read more...]
China’s Yangzijiang Shipbuilding Shares Hit Six-Year High as Q2 Profit Jumps
SINGAPORE, Aug 8 (Reuters) - China's Yangzijiang Shipbuilding Holdings Ltd reported a 73 percent increase in second-quarter net profit, helped by higher revenue from the construction of larger-size vessels, sending its shares to their highest in more than six years. Yangzijiang posted a net profit 719.9 million yuan ($107.12 million) for the quarter ended June, boosted by … [Read more...]
Globalization Thrives in Asia as Export Revival Buoys Growth
By Enda Curran and Michael Heath (Bloomberg) -- For all the talk of globalization’s retreat amid the mercantilist rhetoric of Donald Trump, it’s proving to be a very different story in Asia. Exports are resurgent, governments are pursuing free-trade deals, and rather than bringing jobs back home, American automakers are planning new facilities in China. That early-2017 angst … [Read more...]
Sri Lanka Signs $1.1 Billion China Port Deal
by Ranga Sirilal and Shihar Aneez (Reuters) - Sri Lanka signed a long delayed $1.1 billion deal on Saturday to lease its southern Hambantota port to China ignoring an appeal by opposition parties to debate the pact in parliament. The deal was signed between the two state firms -- Sri LankaPorts Authority (SLPA) and China Merchants Port Holdings(0144.HK) to handle the … [Read more...]
China Urges Halt to Oil Drilling in Disputed South China Sea
BEIJING, July 25 (Reuters) - China's Foreign Ministry has urged a halt to oil drilling in a disputed part of the South China Sea, where Spanish oil company Repsol had been operating in cooperation with Vietnam. Drilling began in mid-June in Vietnam's Block 136/3, which is licensed to Vietnam's state oil firm, Spain's Repsol and Mubadala Development Co of the United Arab … [Read more...]
Chinese Shipbuilders Tap Rising Cruise Demand, Rattling European Rivals
By Brenda Goh SHANGHAI, July 25 (Reuters) - European shipbuilders' dominance in the $117 billion passengership industry may come under threat as Chinese rivals move into the sector to tap booming local demand for cruise holidays. China's government has earmarked cruise shipbuilding as a major objective in its "Made in China 2025" programme to upgrade its domestic … [Read more...]