The first of these, the , was christened on May 12, 2017. Tung's election as Chief Executive of the. The company said in July last year that the transaction would be completed by June 30 and the deal had already received approvals from European and United States anti-monopoly regulators. We remain focused and deliberate in our efforts to maintain a sustainable balance sheet that allows the Group the ability to retain the widest degree of initiative and flexibility as a competitive edge. The University Scholarships have been established in six universities.
On 9 January 1972, the ship caught fire during refurbishing and sank in Hong Kong's and the wreckage had to be scrapped three years later. Final completion of the project is scheduled to occur in 2020. In 2016, the Group did not take delivery of, nor did it place any orders for, any further newbuildings. A combination of steady but low growth in most regions and an overhang of excess supply built up in recent years led to extremely challenging conditions in many trade lanes for most of 2016. This maintenance includes polishing the propeller and hull, and monitoring engine performance. We are committed to ensuring an appropriate balance between adequate liquidity, efficient capital structure suitable for our industry, and sustainable returns to shareholders throughout the economic and market cycles. Sailing Schedule Interactive Sailing Schedule City-to-city sailing schedule is available through CargoSmart.
The net debt to equity ratio remained low at 0. In September 1970, Tung purchased the ocean liner to convert it into a floating university, to be known as Seawise University, as part of the programme. He said the deal needed U. Working together with these sizeable and like-minded partners will enable us to continue to offer the highest standards in the most cost-effective manner. Subsequently, ships will be subject to a system of survey, verification, certification, and control to ensure that their security measures are implemented. They are , , , , and.
The bid has been accepted subject to shareholder and regulatory approval. Services extend from basic freight consolidation services to the management and operation of more comprehensive programs involving multi-modal transportation, warehousing and distribution activities. The proposed deal is the latest in a wave of mergers and acquisitions in global container shipping that has left the top six shipping lines controlling 63 percent of the market and comes at a time when the industry is experiencing recovery after a lengthy downturn. Huang said the company was also keeping a close eye on rising trade tensions between China and the United States, trade between which currently contributes to about 15 percent of its cargo volumes. . At one stage it owned the , the largest ship ever built, having bought it from the shipyard when the previous owners refused delivery. Consequently, the company was renamed Orient Overseas Container Line.
In 2006, it lost its title to the. Combined together, they will operate more than 400 vessels over a much expanded yet well-structured network, with capacity exceeding 2. Linking , , , the , the , the , and. The Board of Directors does not recommend the payment of a final dividend for 2016. The transaction marks the latest consolidation in the global maritime industry.
At the same time, we will maintain our focus on continuous cost improvement and further efficiency gains. Our investment in these vessels demonstrates our commitment to growing our business intelligently, and allows us to gain economies of scale in all our major East West trades. What needs to be seen now is — how well does this deal work out for the carriers and the global maritime industry? The Ocean Alliance will begin operations in April 2017. There are variations within each class. In 1996, took over at the helm on his brother C.
Every year, a selection panel is set up in each university to shortlist potential candidates, based on academic results and performance, plus active participation in extracurricular activities. . . . . .
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