Declining freight rates offset increasing volumes for Sinotrans
China’s largest freight forwarding and logistics group, Sinotrans, has reported largely flat trading results in its first ...
China has jailed 49 people for their part in last year’s deadly explosions in Tianjin. Some 25 are Ruihai Logistics officials, the rest other staff. The chairman of the warehouse company received the stiffest penalty, ” death, with a two-year reprieve”. That normally means it is changed to a life sentence after two years. He was found guilty of “bribing port administration officials with cash and goods worth $23,333 to obtain a certificate to handle hazardous chemicals at the port”.
Ruihai Logistics bore the biggest responsibility for the tragedy, which claimed 165 lives and caused losses of more than $1bn, said the court. Other staff were convicted of forging safety evaluations, dereliction of duty and abuse of power.