China’s Ministry of Commerce on Tuesday, October 14, introduced an instantaneous ban on organisations and people inside China from participating in any transactions, cooperation or associated actions with 5 US entities of Korea’s Hanwha Ocean.
The 5 US-linked subsidiaries of Hanwha Ocean topic to those countermeasures are Hanwha Transport, Hanwha Philly Shipyard Inc., Hanwha Ocean USA Worldwide LLC, Hanwha Transport Holdings and HS USA Holdings Corp, in accordance with the ministry. Hanwha Ocean’s shares fell sharply after the announcement.
¬ Haymarket Media Restricted. All rights reserved.