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Weihai Samjin Shipbuilding restarts operations after successful restructuring
The Chinese Weihai Samjin Shipbuilding restarted operations after successful restructuring. The company was acquired by the investor Xiaoke Holdings, which successfully completed 16-month restructuring process in December 2015 and applied to the local court for restart of the operations. Behind the revival of the former Korean-invested shipyard stays the Chinese businessman Xu Caizhong, who is president of Xiaoke Holdings and one of the founders of Zhejiang Zhenghe Shipbuilding. During the previous year, he invested 46 million USD into Weihai Samjin Shipbuilding, repaying its debts and employees salaries. The Chinese businessman plans to deliver six vessels in 2016, as already moved construction of two 6,300 DWT heavy lift vessels and ten 11,000 DWT tankers from Zhejiang Zhongchuan to Weihai Samjin shipyard. http://www.newsmaritime.com/2016/weihai-samjin-shipbuilding-restarted-operations-after-successful-restructuring/
China’s Weihai port rejects off-spec copper concentrates from Ecuador
China’s Weihai port in northern Shandong province has rejected a cargo of copper concentrates from Ecuador this month, as the cadmium content has exceed the maximum allowable standard, the General Administration of Quality Supervision, Inspection and Quarantine said on its website Monday. This is the first time Weihai port has found copper concentrates with unusually high cadmium content. Earlier this month, quality tests on a batch of copper concentrates imported from Ecuador conducted by the AQSIQ’s Weihai branch found the cargo contained 0.067% cadmium — exceeding the country’s maximum allowable content of 0.05% — which can be a potential cause of environmental pollution. The cargo have since been sent back to Ecuador.
Chinese real estate firm eyes Weihai terminal project
Zhuoda Group, a private Chinese real estate company, is planning to build a 300,000dwt class terminal at Weihai, a northeast port city in Shandong province, aimed at dry bulk and general cargo. “The project will be divided into two phases, the first phase includes two 5,000dwt class terminals, which is expected to start operation next year, while the second phase includes a 300,000dwt class terminal,” an official from Zhuoda said, adding: “When the terminal project is completed, our company will set up a new jv with the local port authority to manage the terminal business. We believe that profit of the new business is to be better than real estate.” [Sino Ship News 06/11/13]
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