Shipping freight rates have soared in recent weeks and a key factor has been China's soaring demand for raw materials, reported the Financial Times. Record increases in Chinese imports of iron ore and steel initiated the hike in shipping prices. The Baltic Dry Index, a benchmark set in London for freight on vessels carrying bulk […]
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Mott McDonald of the UK has formed a joint venture with Beijing Engineering Consulting Corporation to provide services for urban infrastructure. It will offer planning and design services for a variety of projects, with a special emphasis on the 2008 Beijing Olympics. BECC's portfolio includes feasibility studies for Beijing's National Stadium and National Swimming Centre.
Australia has secured an export contract worth more than US$17bn with China as a result of a China National Offshore Oil Corp outline agreement with ChevronTexaco. CNOOC was reported to have bought a 12.5 per cent stake in the Gorgon gas development off Australia's northwest coast. One market source said CNOOC would have to pay […]
Xinhua confirmed that there remain severe energy shortages in 18 provinces and municipalities, with particular problems experienced in Shanghai and Zhejiang. These areas suffered severe shortages during the summer heatwaves. The news agency said state planning officials had failed to predict such rapid growth in electricity demand and output had not increased fast enough. Officials […]
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Two hydro orders for Alstom
Alstom, the France-based supplier of energy and transportation infrastructure, has won two orders worth US$21m in China. It will supply three generators to the Gui Du Fu hydropower plant in Sichuan province and equipment to the Longtan hydropower project in Guangxi Zhuang autonomous region. Equipment for both orders will be supplied by Tianjin Alstom Hydro, […]