JES heads to court over axed forestry acquisition

JES heads to court over axed forestry acquisition

Shanghai: Shipbuilder JES International Holdings is suing a Chinese businessman for breach of a moratorium during its acquisition of a forestry business in Congo, Africa. Singapore-listed JES agreed in April to use cash and shares to buy a 51% stake in Scibois Co, owner of a Congo-based company involved in extraction of timber from a forest valued at over US$3 billion.

Nine missing following ship sinking

Nine missing following ship sinkingShanghai: Japanese coast guard rescuers were searching Wednesday for nine people believed missing after a 238 ton Chinese ship sank off Japan's western coast. The small Chinese-registered ship Lurongyu 2859 sank Tuesday in the Sea ...

Qingshan closes in on more orders

Qingshan closes in on more ordersShanghai: A Cypriot owner is on the cusp of returning to China for more bulkers. Pola Maritime has said it is negotiating with Qingshan Shipyard for more handysizes. Pola took delivery of the last in the series of 37,500 dwt ships f...

Evergreen adds to its Africa presence

Evergreen adds to its Africa presenceTaipei: Africa is deemed by many to be the next exciting frontier for container shipping and it is one where Taiwan’s top boxline is upping its exposure. Trade between Asia and Africa is growing at record levels in the past few ye...

Belgian port executive receives special honour in Shanghai

Belgian port executive receives special honour in ShanghaiShanghai: Jan Van der Borght, the representative of the port of Antwerp in Shanghai, has been presented with the Golden Magnolia Award. Two years ago he won the Silver Magnolia Award, so that now he is only the second Belgian and th...

Two top journalists join the ranks

Two top journalists join the ranksSingapore: Asia Shipping Media (ASM), the publishers of this title and five others around the world, announced today the hiring of a couple of top journalists to its roster of writers. Holly Birkett, an award winning British journal...

MarPoll: Vote on key issues

MarPoll: Vote on key issuesSingapore: With the final Maritime CEO magazine of the year approaching today our sister title lauches its regular online voting section, results of which will appear on the back page of the magazine. Themes for this issue inclu...

CSSC Shipping sets up Singapore subsidiary

CSSC Shipping sets up Singapore subsidiaryHong Kong: CSSC (Hong Kong) Shipping, a shipowning unit of China's shipbuilding conglomerate China State Shipbuilding Corporation (CSSC), has set up an offshore engineering subsidiary in Singapore to tap into the international offsh...

JES yard removed from white list

JES yard removed from white listShanghai: China’s Ministry of Industry and Information Technology (MIIT) has announced the official first batch “white list” for the shipbuilding industry. MIIT has removed Jiangsu Eastern Marine Equipment, an affiliate shi...

Rongsheng gets financial support

Rongsheng gets financial supportShanghai: Private Chinese shipbuilder, Rongsheng Heavy Industries said that relevant parties have reached an agreement support the development of Jiangsu Rongsheng Heavy Industries. Jiangsu Rongsheng has appointed an independent ...

China Merchants Energy further expands VLCC fleet

China Merchants Energy further expands VLCC fleetShanghai: China Merchants Energy Shipping has signed four new VLCCs building contracts at the total value of $390m. Four wholly-owned single ship companies of the company have inked shipbuilding contracts with Dalian Shipbuilding...

ZPMC sued by UK firm

Shanghai: Shanghai Zhenhua Heavy Industries (ZPMC) has announced that its customer Fluor Limited is suing the company at the Technology and Construction Court in the UK. ZPMC signed a contract with Fluor on supplying €230m worth of steel frames ...

China Shipping receives subsidies for ship disposal

Shanghai: China Shipping Container Lines has announced that the company has received special subsidies valued around RMB40m from the Ministry of Finance as a subsidy for the retirement and dismantling of five ships. China Shipping Development also...

China Merchants and Vale sign VLOC deal

Beijing: Reflecting a likely loosening of the ban on valemaxes calling China, Brazilian miner Vale has formed a partnership with China Merchants Energy Shipping (CMES). CMES will order 10 very large ore carriers (VLOCs) to fulfill a 25-year contract ...

FTZ to open for foreign ship design firms

Shanghai: China’s State Council has released a new guidance for the entry regulations of foreign enterprises in the Shanghai Free Trade Zone (FTZ). In the guidance, the government has allowed solely foreign-owned ship design enterprises to set u...

Hudong-Zhonghua boss to be prosecuted for bribery

Shanghai: After four months investigation, Gu Tiquan, the former chairman of state-owned Hudong-Zhonghua Shipyard, will be prosecuted for bribery according to the Supreme People’s Procuratorate. Gu is the latest official from a state-owned compa...

Guangzhou Port adds capacity

Guangzhou: Guangzhou Port has started the operation of two new deepwater berths in the phase three project of its Nansha container terminal. The two berths will increase the port’s annual handling capacity by 120m tons. The phase three project o...

GSI sells more assets

Guangzhou: Guangzhou Shipyard International (GSI) announced that it has listed subsidiary GSI Industries on the Shanghai United Equity Exchange for RMB560m. GSI said the move was part of its relocation plan, and the potential deal will increase th...

Shenzhen to provide subsidies

Guangzhou: The Chinese port city, Shenzhen, is planning to provide RMB200m in subsidies to encourage energy conservation and emission reductions at the port. The move comes in response to Hong Kong's pioneering efforts to cut shipping emissions in t...

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Autumn 2014
Summer 2014

In Focus

More than just price

There’s plenty that owners and managers will demand when choosing a lube supplier

More than just price

It is fair to say that the selection of lubricants onboard ship has never been more tricky or scrutinised.

Since the market crash of 2008 cost cutting has been uppermost in ship operators’ minds, desperate to stay afloat in what have been intensely tricky financial times. After crew costs and insurance, lubes make up the third highest cost in the daily running of a ship, typically accounting for around 10 to 17% of costs. However, price is not the most important aspect shipowners and operators look for when selecting a lube supplier, according to a wide-ranging survey carried out by Maritime CEO.

Maritime CEO sent out a survey to around 100 shipowners and managers on key lube issues. Price, while important, for sure, only ranked number three in the selection criteria.

Michael Moschonas, chief technical officer with Greece’s Almi Tankers, lists product quality and suitability, the reputation of the supplier, technical support and services, worldwide availability of all grades, before mentioning price.

On the issue of price a fleet manager in the tanker sector based in Singapore tells Maritime CEO: “Some might say rebates based on volume, but I would prefer a good upfront price with no accounting games.”

Ian Claxton, managing director of Thailand’s Thoresen & Co says quality product with no contamination, a guaranteed delivery period without delays to vessel or offhire and strong after sales support such as laboratory testing, training on use and handling, product news and regulatory information updates, all go a long way when selecting a lube supplier.

Meanwhile, the purchasing manager of one of the world’s largest containerlines has another thing he is looking out for when choosing a lubricant company. “Since some new regulations are coming in, we are looking whether their products are recommended by the equipment maker,” he says from the firm& ...   More>>