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China Rongsheng ghost town reflects shipbuilder's struggle to survive



Deserted flats and boarded-up shops in the Yangtze river town of Changqingcun serve as a blunt reminder of the area's reliance on China Rongsheng Heavy Industries Group, the country's biggest private shipbuilder. Like Rongsheng's shipyards, the area is struggling to survive.

Last Friday saw US retail’s biggest day of the year. “Black Friday” offers tempted shoppers into parting with $57.4bn in the US, followed by more online spending on “Cyber Monday”. That’s a lot of retail activity and the phenomenon is becoming more global. Much of the stock sold is shipped from its location of manufacture by container, so does this help shipping?
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Golden Destiny reports an order for 4 Ultramax bulk carriers of 63.000dwt was placed by Angelakos (Hellas) S.A., Greece at Yangzhou Dayang, China. Two 63.500dwt bulkers were also ordered by Euroseas, Greece at Yangzhou Dayang,China.

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Chinese shipbuilders will have a mixed outlook by 2020 with only one-third of them making a successful transformation and another third facing closure or mergers, experts said.
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Iranian Deputy Oil Minister Kazem Vaziri Hamaneh said buyers of Iran’s crude oil can take delivery of cargos with their own vessels and insurance. Vaziri-Hamaneh said the development is due to the lifting of some sanctions targeting Iran’s oil sector.
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With regulatory deadlines looming, the retrofitting of existing trading vessels maybe making more sense as solutions are developed using cleaner shipping technology, however, funding for retrofitting is presenting a challenge for shipowners and ship managers.
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The Panama Canal is synonymous with the global shipping industry, facilitating over 14000 transits per year.  But currently it is not a significant feature of the global LNG market...
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Taiwan-based Evergreen Marine Corp. ranks as the fifth largest shipping company in the world in terms of volume of shipping containers owned, the United Nations Conference on Trade and Development (UNCTAD) reported.
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