Chinese firm starts building full-size Titanic replica

Dec 2, 2016

Chinese firm starts building full-size Titanic replica

Construction on the world’s first full-size Titanic replica has started in China, a country with a well-documented fascination with the tale of the ill-fated ocean liner. The 300-meter (984-foot) vessel being built by the Wuchang Shipbuilding Industry Co. is scheduled for completion by the ...

Chinese ship opens new trade route via Pakistani port

Nov 13, 2016

Chinese ship opens new trade route via Pakistani port

Pakistan’s top civilian and military leaders traveled to the country’s southwest on Sunday to open a new international trade route by seeing off a Chinese ship that’s exporting goods to the Middle East and Africa from the newly built Gwadar port. The first convoy ...

Drowning Hanjin may not be alone among global shippers

Sep 4, 2016

Drowning Hanjin may not be alone among global shippers

The problems that sank South Korea’s Hanjin Shipping last week could be just the tip of the iceberg, with the long global downturn leaving the industry burdened by excess capacity. With growth refusing to budge and consumer demand still slack, the world’s freight carriers ...

Jun 13, 2016

Park urges 'bone-crushing' reform of South Korean shipbuilding industry

South Korean President Park Geun-Hye on Monday urged “bone-crushing” efforts to overhaul the nation’s ailing shipbuilders faced with mounting losses caused by slowing global demand and increased competition. The South’s mighty shipbuilders including Hyundai Heavy Industries and Daewoo Shipbuilding and Marine Engineering have dominated ...

Jan 29, 2016

Mitsui O.S.K. expects to sink into red ink for business 2015

Shipping giant Mitsui O.S.K. Lines Ltd. said Friday it will fall into the red in the business year ending in March after incurring huge restructuring costs amid deteriorating profitability on sluggish demand linked to China’s economic slowdown. The company is forecasting a consolidated net ...

COSCO announces Arctic shipping route to Europe

Oct 27, 2015

COSCO announces Arctic shipping route to Europe

China’s biggest shipping company intends to launch regular services through the Arctic Ocean to Europe, a spokeswoman said Tuesday, as global warming makes the route viable and Beijing steps up its northerly economic ambitions. State-owned industry giant COSCO has only twice sent a vessel ...