Overseas News Summary, Week 35
On August 21, World Maritime News reported that Indonesia has decided that vessels flying the Indonesian flag would comply with the IMO’s 2020 sulphur cap, after the country earlier informed that it needed more time to comply.
On August 27, Seatrade Maritime News reported that China’s State Council announced six new provincial pilot free trade zones in Shandong, Jiangsu, Guangxi, Hebei, Yunnan and Heilongjiang, which will make the total number of China’s free trade zones to 18. According to the plan, the six new pilot FTZs will be developed with differentiated reform experiments.
On August 28,Splash 247 reported that China Merchants has entered into an agreement with AVIC International Holdings to acquire 73.87% equity shares in Singapore-listed AVIC International Maritime, as AVIC International moves to exit the shipping business. The total value of the deal is around S$31.6m ($22.7m).