A look at some recent key developments in the South China Sea, where China is pitted against smaller neighbors in multiple disputes over islands, coral reefs and lagoons in waters crucial for global commerce and rich in fish and potential gas and oil reserves: Chinese state-run companies are joining forces to offer luxury cruises in the South China Sea in the wake of this month's international arbitration panel's ruling invalidating China's claims to almost the entire waterway. The companies — Sanya International Cruise Development Co.