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. . Sailing Schedule Interactive Sailing Schedule City-to-city sailing schedule is available through CargoSmart. The net debt to equity ratio remained low at 0. They are , , , , and.
At the same time, we will maintain our focus on continuous cost improvement and further efficiency gains. 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. In 2006, it lost its title to the. 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 transaction marks the latest consolidation in the global maritime industry.
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. 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. He said the deal needed U. Consequently, the company was renamed Orient Overseas Container Line. What needs to be seen now is — how well does this deal work out for the carriers and the global maritime industry? At one stage it owned the , the largest ship ever built, having bought it from the shipyard when the previous owners refused delivery. In 2016, the Group did not take delivery of, nor did it place any orders for, any further newbuildings. The bid has been accepted subject to shareholder and regulatory approval.
There are variations within each class. 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. 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. Subsequently, ships will be subject to a system of survey, verification, certification, and control to ensure that their security measures are implemented. The University Scholarships have been established in six universities. 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.
Combined together, they will operate more than 400 vessels over a much expanded yet well-structured network, with capacity exceeding 2. This maintenance includes polishing the propeller and hull, and monitoring engine performance. Linking , , , the , the , the , and. 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. In 1996, took over at the helm on his brother C. 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.
Tung's election as Chief Executive of the. The first of these, the , was christened on May 12, 2017. 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. Final completion of the project is scheduled to occur in 2020. 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. The Board of Directors does not recommend the payment of a final dividend for 2016. The Ocean Alliance will begin operations in April 2017.
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