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Wednesday, July 28, 2021

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Korean yards talking up their 2010 orders

Posted to Far East Maritime (by Greg Knowler) on January 25, 2010

According to the Korean news agency, Yonhap, Hyundai Heavy Industries, the world’s largest shipbuilder, said it was aiming for ship orders of US$17.7 billion this year. Not to be outdone, Korean compatriot Daewoo Shipbuilding and Marine Engineering…

Jail terms handed down in deadly Hong Kong tugboat sinking

Posted to Far East Maritime (by Greg Knowler) on January 21, 2010

With the deaths of 18 seafarers on their hands, the punishment handed down last week was always going to be severe for the four seamen responsible for one of Hong Kong’s worst maritime disasters. In March 2008, the Ukrainian tug, Neftegaz-67…

Piracy approach a failure, say Hong Kong shipowners

Posted to Far East Maritime (by Greg Knowler) on January 19, 2010

The Hong Kong Shipowners’ Association (HKSOA) has called for governments to throw out the current response to pirates menacing ships off the Horn of Africa, accusing the international community of tolerating piracy instead of eliminating attacks.

Tariffs slashed as Asia trade pact kicks off

Posted to Far East Maritime (by Greg Knowler) on January 15, 2010

Trade between China and the Association of Southeast Asian Nations (Asean) is set to soar following the slashing of tariffs on most goods. On January 1 a free trade agreement (FTA) between the mainland and Asean came into force. But don’t mistake its quiet implementation for a lack of importance.

Guilty as charged, judge tells seafarers in deadly tugboat sinking

Posted to Far East Maritime (by Greg Knowler) on January 13, 2010

Four sailors charged in one of Hong Kong’s worst maritime accidents were found guilty and remanded in custody yesterday as judgment was delivered in the sinking of a Ukrainian tugboat in 2008. Eighteen seamen on the tug, Neftegaz-67, died when…

Singapore still on top after Asia’s ports have year to forget

Posted to Far East Maritime (by Greg Knowler) on January 7, 2010

Singapore has managed to fend off a challenge to its world’s busiest container port title for another year but the port of Shanghai is so close on its heels there is little daylight between the two giant Asian shipping hubs. The Maritime and…

Ningbo aims to tap into mainland market

Posted to Far East Maritime (by Greg Knowler) on January 6, 2010

If a company lists in Shanghai, it can expect to be valued at more than 30 percent higher than if it went public on the Hong Kong Exchange. That’s an attractive proposition for mainland companies, especially considering that the pesky regulatory…

Sanity prevails as US backpedals on box screening

Posted to Far East Maritime (by Greg Knowler) on December 17, 2009

So the US Department of Homeland Security have finally wised up. It took them long enough, but eventually they have arrived at the conclusion that it will not be possible to meet their deadline for the screening of all import containers. The…

Beijing approves the death of Hong Kong port

Posted to Far East Maritime (by Greg Knowler) on December 15, 2009

As workers yesterday dug out the first scoop of the multi-billion dollar bridge between Hong Kong and Macau that is supposed to boost container throughput, China’s central government was busy officially endorsing the death of Hong Kong’s port business.

Owning a shipyard may be worse than owning a shipping line

Posted to Far East Maritime (by Greg Knowler) on December 10, 2009

The boss of China Ocean Shipping (Group) Company, Capt Wei Jiafu, is always trotted out at big maritme conferences in China to share his wisdom with the assembled delegates. Stepping from the stage after his presentations, Jiafu is instantly smothered by hordes of Chinese reporters…

Adding China port capacity comes down to a semi-educated guess

Posted to Far East Maritime (by Greg Knowler) on December 9, 2009

The most difficult part of running a port or shipping line in an economic downturn is the unpredictability of demand. Throw in oil price and currency volatility and any market forecasting may as well be left to Madame Zedora and her crystal ball.

Plenty of business to go around in Asia’s cruise industry

Posted to Far East Maritime (by Greg Knowler) on December 4, 2009

In a blog post a couple of months ago, I expressed doubt that the cruise business would ever take off in Hong Kong considering how long the three-legged government tortoises were taking to build a new terminal. Not so, said Wallem Shipping (HK) director Simon Doughty.

DP World shrugs off its parenting problems

Posted to Far East Maritime (by Greg Knowler) on December 1, 2009

When Dubai World made its surprise request to creditors last week asking to delay debt repayments for six months, global port operator DP World swiftly released a terse statement. “The Government of Dubai has confirmed that DP World and its…

Bold move as Vietnam plans huge transshipment port

Posted to Far East Maritime (by Greg Knowler) on November 27, 2009

It is difficult to see how Vietnam will need a transshipment port with the ability to handle ships of 17,000 TEU capacities. In fact, it is difficult to see how the world will need ships of that outrageous size. Business will certainly improve and ships will fill up again…

Philippine dithering over project does Cosco a favour

Posted to Far East Maritime (by Greg Knowler) on November 25, 2009

News that China Ocean Shipping Co (Cosco), the mainland’s biggest carrier, had abandoned its bid to build a shipbuilding and transshipment centre in the Philippine port of Sangley Point in Cavite hardly comes as a surprise. The proposal should…

Canton Fair the crystal ball of China’s exports

Posted to Far East Maritime (by Greg Knowler) on November 19, 2009

Twice a year, the city of Guangzhou in southern Guangdong Province puts on the Canton Fair, a gigantic exhibition of goods that is widely regarded as the barometer of China’s exports industry. The fair attracts buyers from around the world who…

Shipping slowdown unable to ease crew shortage

Posted to Far East Maritime (by Greg Knowler) on November 17, 2009

The world’s shipping industry is heading once again for seafarer shortages, poorly trained officers and an increase in major accidents, according to Anglo Eastern Ship Management’s Pradeep Chalwa. He reckons the collective memory of the industry is short…

China’s northeast ports hit the ‘build’ button

Posted to Far East Maritime (by Greg Knowler) on November 12, 2009

China’s northeast ports defied the export slump and actually reported growth in throughput in the first nine months of the year. Tianjin, Qingdao and Dalian are the big three but there are several other container handling ports that have also been posting positive numbers.

Plenty of room left for growing straits traffic

Posted to Far East Maritime (by Greg Knowler) on November 10, 2009

There is only one real way to get ocean cargo from China to Europe, or from India to Japan, and that is to send it via the Malacca and Singapore straits. It is one of the busiest trade lanes in the world, even in the shipping downturn. Singapore isn’t called a maritime hub for nothing.

China’s aircraft carrier ambitions revolve around an empty hull and a building

Posted to Far East Maritime (by Greg Knowler) on November 5, 2009

China is on a mission to develop its armed forces to a state befitting a world superpower, and this includes developing a blue water navy capable of carrying out missions far from home. The mainland has plenty of submarines, nuclear and otherwise…