After China port fraud probe, messy legal fight chills metal trade
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- Category: Puertos
- Published on Sunday, 10 August 2014 04:20
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Aug 04, 2014 03:37 GMT Source: Reuters
Tags: CHINA QINGDAO/LAWSUIT
Sun, 3 Aug 21:02:00 GMT
By Polly Yam and Fayen Wong
HONG KONG/SHANGHAI, Aug 4 (Reuters) -
As global banks and trading houses fire off lawsuits over their estimated $900 million exposure to a suspected metal financing fraud in China, the tangled legal battle to recoup losses is set to drag on for years and hinder a swift recovery in metal trade.
HSBC is the latest bank to launch legal action since Chinese authorities started a probe into whether the firm at the centre of the allegations, Decheng Mining, used fake warehouse receipts to obtain multiple loans. [ID:nL4N0Q53FZ]
Several banks had already ditched their commodity trading divisions due to low returns. The scandal, centred on the eastern
Peel Ports invests £300 million to redevelop and expand the Port of Liverpool
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- Published on Sunday, 10 August 2014 04:14
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2014 August 9 14:12
A multi-million dollar contract was signed at a formal ceremony in Shanghai yesterday between major UK port operator, Peel Ports, and engineering firm, ZPMC, helping to boost future bilateral trade opportunities between China and the UK, the company said in its press release.
Peel Ports Group is investing over $512 million (£300 million) to redevelop and expand the existing Port of Liverpool in the North-west of England, creating Liverpool2, a new deep-water port which will be able to accommodate 95% of the world’s container fleet, including the post-Panamax vessels that will travel through the expanded Panama Canal when it opens in 2015.
ZPMC is supplying eight ship-to-shore (STS) megamax quay cranes and 22 cantilever rail-mounted gantry cranes (CRMGs) as part of
El tráfico en los puertos españoles crece un 3,8 hasta mayo
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- Published on Monday, 21 July 2014 22:24
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Aunque los datos aún son provisionales, parece que los puertos españoles mantienen la tendencia positiva de 2014: en enero, los 46 puertos de interés general movieron 37.796.189 toneladas de mercancías, lo que supuso el tercer mejor registro de la historia, y entre enero y abril el tráfico de mercancías creció un 5,1%.
Tenerife.- Una de las plataformas petrolíferas desembolsa 1,2 millones al puerto
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- Published on Friday, 11 July 2014 03:34
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MARÍA FRESNO | Santa Cruz de Tenerife
La plataforma petrolífera ENSCO 6000, atracada en el puerto de Santa Cruz de Tenerife desde el pasado mes de mayo, desembolsará durante su estancia en la Isla más de 1,2 millones de euros por todos los conceptos asociados a su atraque, entre los que figuran atraque, amarre, alquiler, avituallamiento, mantenimiento, seguridad, etc. El manager de esta plataforma, Bart Brouwer, así lo detalló ayer durante la entrega de una donación que realizó la empresa, junto con otras cuatro, al asilo de Santa Cruz. Una acción que, por cierto, no es aislada ya que suelen hacer lo mismo en todas las ciudades donde atracan.