South China Sea Reef Destroyers Want Your Money

According to a recent FT.com article the company responsible for most of the destruction of coral reefs and reef habitat in the disputed Spratly Islands is listed on the Hong Kong stock exchange and is planning an overseas listing.

China Communications Construction Company (HK:1800), a large state-owned infrastructure group, announced in March that it was integrating its three dredging assets into a new company, CCCC Dredging, which it would eventually list overseas. That entity was set up in Shanghai’s Free Trade Zone on Wednesday.

China’s dredging programme has created about half a dozen islands in the South China Sea with deepwater harbours and at least one airstrip.

In the past 18 months, according to the US defence secretary, at least 2,000 acres of land have been reclaimed — more than has been done in 60 years by other claimants to the territory, including Vietnam, Malaysia and the Philippines.

Satellite images analysed by IHS Jane’s, the defence consultancy, show that Tianjin Dredging Company, one of CCCC Dredging’s three subsidiaries, operates most of the giant barges that have been digging sand from the seabed and piling it on remote coral atolls with names such as Mischief Reef, Suba Reef and Fiery Cross.

The flotation plans are curious for secretive Tianjin. A listing would require greater transparency and focus more attention on its activities.

In March CCCC said in a filing to the Hong Kong Stock Exchange, where it has been listed since 2006, that it “intends to seek listing of CCCC Dredging overseas at an appropriate market timing”.

Hongkongers and potential overseas investors should be aware that CCCC is not an ethical investment. 

Source: FT,com June 11th, 2015

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Satellite Image Shows Reef Destruction in the South China Sea

A report from US information company IHS has confirmed earlier reports that China has been dredging to create an island about 3,000 metres long and 200-300 metres wide on Fiery Cross Reef in the contested Spratly Islands. The reef, called Yongshu in Chinese, was previously underwater.

In the space of three months China has turned the reef into an island by dredging soil and sand from the seabed and dumping it on top. The island, shown in a satellite image obtained by IHS, will be large enough to accommodate China’s first airstrip in the Spratly Islands when completed.

“The land reclamation at Fiery Cross is the fourth such project undertaken by China in the Spratly Islands in the last 12-18 months and by far the largest in scope,” the report said.

A harbour is also under construction to the east of the reef, which appears to have the capacity for tankers and naval warships.

The Spratly Islands are claimed by China, Malaysia, the Philippines, Taiwan, Vietnam and Brunei. All but Brunei have asserted their own claims by building structures on reefs and shoals.

State-run Global Times said the reclamation projects had been undertaken to improve living conditions for soldiers stationed in the South China Sea, quoting an anonymous commander. The commander said land reclamation was necessary because soldiers had been forced to patrol in sea water as their stations occupied most of the available space on reefs and were too confined.

Boo-hoo, the station is too cramped, so let’s destroy a coral reef by smothering it with sediment. Clearly no one mentioned the environmental damage and loss of fisheries to the military. All this while countries like Australia are trying to save reefs…its sad day for planet Earth again.