👀 Ones to watch: The MOST undervalued stocks to buy right nowSee Undervalued Stocks

UPDATE 1-Philippines denounces Chinese fishing boat for collision

Published 06/13/2019, 06:23 PM
Updated 06/13/2019, 06:30 PM
UPDATE 1-Philippines denounces Chinese fishing boat for collision

(Adds Chinese foreign ministry comment)
MANILA, June 12 (Reuters) - The Philippines on Wednesday
denounced the crew of a Chinese fishing boat that collided with
a Philippine vessel and left 22 Filipino fishermen abandoned in
the disputed South China Sea.
The collision took place near the Reed Bank on Sunday, the
defence ministry said, adding that a Vietnamese fishing boat
rescued all the fishermen.
"We denounce the actions of the Chinese fishing vessel for
immediately leaving the incident scene, abandoning the 22
Filipino crewmen to the mercy of the elements," Defence
Secretary Delfin Lorenzana said in a statement.
Reuters could not independently verify the Philippine
account of the collision.
In Beijing on Thursday, foreign ministry spokesman Geng
Shuang said it was an "ordinary maritime accident" and he warned
against "irresponsibly politicising" the collision.
He said China is investigating the incident.
China, which claims nearly all of the South China Sea, has
been accused of using thousands of fishing boats as a militia
and de facto extension of its foreign policy.
The Reed Bank contains offshore gas reserves that both
countries claim ownership of, despite it being located within
the Philippines' 200-nautical mile exclusive economic zone.
Both countries say they are seeking ways to jointly tap
those deposits.
Despite a long history of rows with China over the South
China Sea, Philippine President Rodrigo Duterte has pursued
warmer ties with Beijing in exchange for billions of pledged
loans and investment.
An international arbitration panel in 2016 ruled the
Philippines had sovereign rights to exploit the resources at
Reed Bank. China did not recognise the case or the verdict.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.