COSCO's newly built semi-submersible vessel, the "Kangshengkou," recently completed a major offshore installation in the PM3-CAA oil field in the Gulf of Thailand. Utilizing its advanced dynamic positioning system, the ship successfully carried out the one-piece installation of the 11,000-ton crude oil processing equipment BR-E platform at sea. This achievement marks a significant milestone for COSCO in deep-sea engineering operations.
The BR-E platform was constructed by Sime Darby Engineering Sdn Bhd, a shipyard based in Malaysia. COSCO Shipping took full responsibility for the transportation and installation of the platform, and their work was highly praised by the client. The successful project highlights the growing capabilities of Chinese shipping companies in complex offshore projects.
In another development, Australia’s Toll Group has fully acquired Singapore-based Sembcorp Logistics. As the largest transportation group in Australia, Toll announced that it has completed the purchase of the remaining 40% stake in Sembcorp Logistics using cash, fulfilling its mandatory acquisition target. Earlier this month, Toll had already agreed to acquire a 60.01% stake in Sembcorp Industries for $463 million. With operations spanning 15 countries, including China, Thailand, Malaysia, and India, Sembcorp Logistics is a leading third-party logistics provider in Southeast Asia.
Meanwhile, the Guangdong LNG project saw a key development with the signing of the time charter contract for the third vessel, "Yueyang," between Guangdong Dapeng LNG Co., Ltd. and Minghua Company. The ceremony was attended by representatives from Guangdong Dapeng, shareholders of the "Yueyang" company—including Oriental Chaokang, Shenzhen Airlines, and LNG Transportation (Holdings) Co., Ltd.—as well as other relevant personnel. Fan Qilin, Deputy General Manager of Minghua Shipping, represented China Merchants Group at the event. This contract marks an important step forward for the Guangdong LNG project.
Additionally, Shanghai Pudong Development Bank has made a major investment of 2 billion yuan to sign a cooperation agreement with Yangluo Development Zone. The partnership aims to promote container transshipment at Yangluo Port and develop industrial parks, ultimately supporting the construction of a new city in Yangluo Port. This move is expected to boost regional economic growth and enhance the port's strategic importance in the logistics sector.
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