The Chairman of private Chinese conglomerate CEFC China Energy Company (CEFC) is under investigation by authorities for alleged economic crimes.
Unnamed authorities took Ye Jianming, also the founder of CEFC, for questioning earlier in the year, according to an unnamed source reported by Chinese financial newspaper Caixin.
The development comes after an arrangement by CEFC to buy an approximate $9.1 billion share in Russian oil major Rosneft, according to Reuters.
The revenue of CEFC exceeded RMB 263.1 billion ($41.4 billion) in 2015.
The company has a stake in assets from Chad to the United Arab Emirates to Kazakhstan, where it has also invested in a series of Czech companies; Czech investments include real estate, a brewing group, a football stadium and an airline.
The Chinese government last week took over control of insurer Anbang Insurance Group over economic crimes conducted by its Chairman.
Professor Christopher Balding at the Peking University HSBC School of Business in Shenzhen believes it is "distinctly possible" the Chinese government will assume control of more firms.
"They are trying to essentially … build firewalls around each of these things so that people that are dealing with them say 'OK the government stepped in, I’m going to get my money back'," he said.
Published: 2 March, 2018
Concludes 2018 as second largest bunker player at Panama with 450,000 mt of marine fuel supplied.
Comments on a recent report which suggests Singapore could be losing market share to China come 2020.
VLSFOs have different characteristics which existing bench tests cannot fully evaluate, thus, many established bench tests have to be modified or replaced, it said.
Both entities have recently entered into two agreements say statement from Egypt’s petroleum ministry.
In view of the COVID-19 cases onboard, the bunker tanker has been quarantined and will cease all operations until further notice, says MPA.
The company has acquired the 8,000 dwt bunker tanker as its sixth bunker tanker operating at Singapore port.
Glander International Bunkering (Norway) AS seeking payment of USD 115,963.52 (not including contractual compensation and interests) from the vessel’s demise charterer, according to court documents.
“In TotalEnergies, we already have projects along the e-Fuel value chain, from green electricity and green / blue hydrogen to e-Fuel production that will be integrated along the marine fuels value chain in time to come,” shares Louise Tricoire.
Buyers can nominate deliveries on platform and plan operations together with suppliers following ‘one single truth’ concept with all players aware of what has been agreed when and by whom, says DNV spokesman.
Rotterdam’s intention to mandate the usage of MFMs goes down well with licensed bunker supplier VT Group; MFM providers supportive of move but stressed continuous monitoring is needed for optimum performance.
Cost of alternative bunker fuels, bunker operations and technology advancement are some considerations to be examined by the maritime industry, says Neo, director of SDE International Pte Ltd.
Kim Hyung Joon and Han Donghoon were planning to join the Singapore entities of Hartree Group - either Hartree Partners Singapore Pte Ltd or Hartree Marine Fuels - in October, discovered management.
