China Economic ReviewVolkswagen and Shanghai Automotive Industry Corp are to invest a combined US$278m in a Shanghai plant to make 1.4- and 1.6- litre engines, reported Bloomberg. Operations in the 180,000-units-a-year capacity plant should begin in 2005 and annual production could be expanded to 300,000 engines. The equity shares in the new company were said to be […]
New car finance regulations have failed to impress foreign carmakers, according to a report in the Financial Times. Volkswagen's financing group complained that the new rules were 'even more restrictive' than last year's draft and that the lengthy approvals needed from the Banking Regulatory Commission meant the group would be unlikely to be able to […]
The world's largest container ships will be operating for China Shipping Container Lines (CSCL) by the end of 2006. Through Seaspan Container Line, CSCL will charter up to eight new 9,500 teu ships that will be deployed on the China/Europe trade. Four of the ships were ordered in mid- October by Vancouver-based Seaspan for long-term […]
Qingdao has gained extra containerised cargo volumes at the expense of South Korea's leading port of Busan, which has recently suffered terminal congestion and cargo-handling equipment damage during extreme weather conditions. Shipping lines Zim Israel and Italy's Lloyd Triestino were due to introduce the Qingdao call in late October on their joint Asia/US Express service […]
The Qingdao Port Authority said the contract for its stage-four expansion is to be carried out by a consortium of AP Moller Maersk of Denmark, P&O Steam Navigation Co of the UK and the state-run China Ocean Shipping (Group) Co. The same consortium signed a third-phase contract in July to jointly develop the US$877m, 10-berth […]