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Friday, December 14, 2018

China News

The Port of Long Beach in December 2018. (Photo: Port of Long Beach)

Port of Long Beach Cargo Volume Up 7.3%

Cargo volume continued to rise at the Port of Long Beach in November, setting the stage for a second consecutive calendar year record.The Port handled 621,835 TEUs of container cargo during the month, a 1.5 percent increase compared to November 2017. Last month’s performance pushed 2018’s total TEU count to 7,349,377, making it virtually certain the Port will eclipse its record of 7,544,507 TEUs set last year. For the year to date, volumes have risen 7.3 percent.Imports continued to outpace goods shipped overseas.

Intermodal operations at the port of Shanghai / Credit: AdobeStock / © zdu hang

China to Halt Additional Tariffs on U.S.-made Cars

China to suspend additional 25 pct tariffs on U.S.-made cars for three months; China's planned tariff halt follows purchase of U.S. soybeans.China will suspend additional tariffs on U.S.-made vehicles and auto parts for three months starting Jan. 1, 2019, the country's finance ministry said on Friday, following a truce in a trade war between the world's two largest economies.China will suspend 25 percent tariffs on 144 U.S. vehicle and auto part items and 5 percent tariffs on 67 auto items between Jan.

Pic: Autoridad Portuaria de la Bahía de Algeciras

Hispano-Chinese MoU for Ports

The Port of Algeciras Authority (APBA) Chairman, Manuel Moron, and the Ningbo Zhoushan Port Group Chairman, Mao Jianhong, signed a Memorandum of Understanding (MoU) that is set to formalize co-operation between both of the logistics powerhouses and increase commercial flow between Southern Europe and Asia. According to the port and harbour of Algeciras, the MoU was rubber-stamped during the official state visit to Spain of the Chinese President,  Xi Jinping, who - together with the Spanish Prime Minister…

Nitin Gadkari. Photo: PIB

Nitin Gadkari Flags Off First Container Vessel at Tuticorin

Indian Shipping Minister Nitin Gadkari Wednesday flagged off the maiden container mainline vessel at VoC Port (Tuticorin Port), opening direct shipping route to eastern countries.Calling the step a "gamechanger in container traffic of South India", Gadkari said that Tuticorin has the potential to become a "major industrial hub".At present containers from Tuticorin to Far East countries viz Malaysia, Singapore, China and Hong Kong are transited by the feeder vessels to Colombo where they are further connected to the mother vessel .With Mainline call being done directly at Tuticorin…

“Nobody, not even the opposing sides in this evolving economic conflict, seems to know what is going to happen next,” said Xeneta CEO Patrik Berglund.“Nobody, not even the opposing sides in this evolving economic conflict, seems to know what is going to happen next,” said Xeneta CEO Patrik Berglund. (Photo: Xeneta)

Xeneta: Watch Both Sea and Air Amid Trade War Tensions

As the ongoing trade war between the US and China continues to send tremors of uncertainty through the global economy, Xeneta is advising senior executives to keep a close eye on fluctuating ocean and air freight rates. In an unpredictable geopolitical environment, highlighted by last week’s arrest of Huawei’s CFO in Canada, the leading freight rate benchmarking and market intelligence platform says shippers need agile logistics strategies, with the option of shifting transportation mode whenever necessary.“Nobody…

file Image / AdobeStock / © Nightman 1965

China, U.S. Discuss Road Map for Continuing Trade Talks

China and the United States discussed a road map for the next stage of their trade talks on Tuesday during a telephone call between Vice Premier Liu He, U.S. Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer.U.S. President Donald Trump and Chinese President Xi Jinping agreed at a Dec. 1 meeting in Argentina to a truce that delayed a planned Jan. 1 U.S. increase of tariffs to 25 percent from 10 percent on $200 billion worth of Chinese goods.Lighthizer said on Sunday that unless U.S.-China trade talks wrapped up successfully by March 1…

Image: Abu Dhabi Ports

Cosco , Abu Dhabi Ports Open New Terminal at Khalifa Port

Abu Dhabi Ports on Monday inaugurated the new Cosco Shipping Container Terminal at Khalifa with a capacity of 2.5 million TEUs (twenty-foot equivalent units).The new CSP Abu Dhabi Terminal, which includes the largest container freight station in the Middle East, is expected to boost Abu Dhabi’s position as a global maritime hub and support China’s One Belt One Road initiative.CSP Abu Dhabi Terminal is the first international green-field subsidiary of Cosco Shipping Ports; water…

Pic: Ship Recycling Transparency Initiative

Ship Recycling Transparency Initiative Launched

Industry leaders and non-profit the Sustainable Shipping Initiative announced the launch of the Ship Recycling Transparency Initiative’s (SRTI) online platform - a tool for sharing information on ship recycling to drive responsible practice.According to a press release, the platform comes nine months after a group of shipping companies first announced their collective effort to use the market-drivers that transparency brings to make responsible ship recycling the norm. Demanding transparency holds the shipping industry to account…

HH Sheikh Hamed attends opening of the CSP Abu Dhabi Terminal at Khalifa Port 3 (Photo: Abu Dhabi Ports)

CSP, Abu Dhabi Ports Partner

COSCO SHIPPING Ports and Abu Dhabi Ports inaugurated CSP Abu Dhabi Terminal at Khalifa Port; positioning Abu Dhabi as the regional hub for COSCO’s global network of 36 ports and further connecting the Emirate to the major trade hubs along the Belt and Road Initiative (BRI).The deepwater, semi-automated container terminal includes the largest Container Freight Station (CFS) in the Middle East, covering 275,000 square meters. It offers facilities for full and partial bonded container shipments…

Pic: Panama Canal Authority

Chinese Consortium Bags USD 1.4bln Panama Bridge Project

The government of Panama gave a US$1.4 billion contract to build a bridge over the Panama Canal to Panama Cuarto Puente, a Chinese consortium.Panama Cuarto Puente consortium or so-called Panama Fourth Bridge Consortium,  composed of China Communications Construction Company (CCCC) and its unit China Harbour Engineering Company (CHEC), will design and build a bridge over the Panama Canal.According to a report in Reuters, the 6.5-km (4-mile) bridge will have six car lanes and a two-way metro line.

File Image: AdobeStock / © Leeylutung

Diesel-Loaded Tankers Stranded off Asia as Demand Wanes

Several tankers carrying diesel fuel are floating off Taiwan and Southeast Asian waters as a steep fall in oil prices kept buyers at bay, trade and shipping sources said on Friday, helping push rates to their highest since January 2016.With tanker rates also boosted by strong Chinese oil exports, it was a big relief for an industry that has been in the doldrums for the past three years.About seven to nine long-range tankers carrying about 5 to 7 million barrels of diesel are currently floating off Taiwan waters largely due to a drop in bunker fuel demand from the South China Sea…

File Image: CREDIT CMA CGM

CMA CGM, Freightos Ink Digitization Pact

CMA CGM becomes the first ocean carrier listed on Freightos; direct digital sales, booking, and shipment management on CMA CGM key transpacific trade lanes now available on Freightos.The CMA CGM Group, a worldwide leading shipping group, and Freightos, the world’s online freight marketplace, are pleased to announce they have signed an ambitious pilot agreement whereby CMA CGM has become the first ocean carrier listed on Freightos. Online bookings, guaranteed pricing, and secured capacity on CMA CGM China-US trade lanes are available on the platform…

Atypical LNG carrier enroute to berth. (File image / Adobestock / © Fotmart

Floating LNG in Asia Finds Buyers as Prices Plunge

Nine or more tankers on the way or discharged into Asia, while at least five still holding LNG off Singapore.Several liquefied natural gas (LNG) cargoes that had been stored on vessels in Asian waters are now heading towards buyers' terminals in China, Japan or South Korea as spot prices for the super-chilled fuel have plunged this week to multi-month lows.At least nine LNG tankers are now on their way or have already offloaded cargoes to buyers after floating off Singapore, Malaysian or South China waters for up to two months…

File Image of the port of Hong Kong / CREDIT Adobestock © Marco 2811

Fitch Ratings: Demand Risks Weigh on Global Shipping Sector Outlook

The global shipping sector outlook remains negative reflecting the demand-side risks of protectionism and slower economic growth, Fitch Ratings says. Higher fuel costs and sulphur regulation will also put pressure on shippers.Partly offsetting an unfavourable environment are emerging signs of better capacity management by shipping companies, which is key to a sustainable balance and freight rates that support consistent profitability. We expect better fundamentals in container and dry bulk…

File Image: AdobeStock / © Lucasz Z

Illinois Soybean Growers Encouraged by U.S-China Trade Talks

Lynn Rohrscheib, Illinois Soybean Growers (ISG) chairwoman and a soybean farmer from Fairmount, Ill., released the following statement in response to U.S. and China announcing continued trade discussions: “As the nation’s top soybean-producing state, we are encouraged that talks are occurring between the United States and China leaders with hopes that our soybean market can be restored. Free trade and access to markets are critically important to producers’ livelihoods and profitability. We echo the need for the tariffs to be rescinded. We also need to see the promise of a Farm Bill delivered.

Image: Tsakos Energy Navigation

TEN: Cautious Optimism on Shipping Market

The provider of seaborne crude oil and petroleum product transportation services Tsakos Energy Navigation Limited (TEN) said that though the tanker market showed upward trajectory, management will keep a close eye on developments and refine its employment approach.The Greece-based tanker company said in a stock exchange annoucement that "As we approach the end of 2018, the signs that the worst is behind are becoming increasingly evident. Global oil demand is continuing its upward…

Pic: International Maritime Organization (IMO)

Seoul Connects Maritime Capacity-building Activities with IMO

The first regional donor/recipient workshop on maritime Technical Cooperation activities held in Seoul, the Republic of Korea (26-30 November). The workshop built on the long-term resource mobilization strategy for International Maritime Organization (IMO)'s Technical Cooperation activities, approved at the sixty-eighth session of the IMO Technical Cooperation Committee (TCC).According to a release from IMO, this strategy identified a more proactive and methodical approach with regard to generating new resources by encouraging the development of partnerships with Member States…

Pic: DNV GL

Shanghai Waigaoqiao Shipyard Delivers World's First iVLOC

The world’s first intelligent very large ore carrier (iVLOC), the DNV GL-classed Pacific Vision, was delivered by Shanghai Waigaoqiao Shipyard to China Merchants Energy Shipping Company.Norway-headquartered international accredited registrar and classification society said in a statement that the vessel is the world’s first VLOC to implement DNV GL’s SmartShip descriptive notation.To qualify for the notation, Pacific Vision has been outfitted with an integration platform, a smart navigation decision support system…

Rodolphe Saade, CEO. Photo: CMA CGM

CMA CGM Reports Higher Volumes and Revenue

French container shipping group CMA CGM third quarter results outperformed the industry,  with significant increases in revenue and volume.The global transporting company said in a stock exchange annoucement that its volumes have risen 5.5 percent and revenue is up 6.3 percent compared to the third quarter in 2017. The group's net income was $103.1 million.CMA CGM’s Chief Executive Rodolphe Saade had said he expected a strong third-quarter, helped by brisk China-U.S. shipments…

Image: Hapag-Lloyd

Hapag-Lloyd Commits to EGCS Retrofitting

German container shipping major Hapag-Lloyd announced its plan to retrofit ten vessels with Exhaust Gas Cleaning Systems (EGCS). Ten Hamburg Class vessels (13,000 TEU) to be retrofitted in 2019 and 2020, it said.Hapag-Lloyd has ordered ten Hybrid Ready Exhaust Gas Cleaning Systems (EGCS), which will be gradually installed to ten of Hapag-Lloyd’s Hamburg class vessels (13,000 TEU) during 2019 and 2020. This will allow the company to comply with the upcoming IMO2020 low sulphur…

File Image: A bulk carrier underway (CREDIT: K Line)

Baltic Index [Finally] Gains on Higher Capesize Demand

The Baltic Exchange's main sea freight index, tracking rates for ships transporting dry bulk commodities, snapped its 12-day losing streak on Thursday, powered by a rise in demand for capesize vessels.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 11 points or 1.1 percent - after falling 12 sessions in a row - to 1,020 points.The capesize index marked its first gain in 12 days, rising 7.1 percent, or 67 points, to 1,007 points.

Pic: ESL Shipping

LNG Bulk Carrier Viikki Starts Baltic Sea Ops

The world's most eco-friendly bulk carrier m/s Viikki, owned by ESL Shipping, a subsidiary of the Aspo Plc, has started operating on the Baltic Sea.The 25,600-dwt vessel, 160 metres long and fuelled by liquefied natural gas, produces less than half of the carbon dioxide of previous vessel generation, thanks to LNG and many advanced technologies.M/s Viikki was built in China, and after completion first sailed to Japan to load a cargo of raw materials. From there, she arrived to the Baltic Sea through the Northeast Passage…

Pic: Linde Group

Linde Group Bags Chinese LNG Contract

The technology company The Linde Group has been awarded a contract from Chinese chemical and energy company Inner Mongolia Huineng Coal Chemical Co Ltd to supply a mid-scale LNG plant near Beinichuan in Inner Mongolia."This will be Linde’s seventh and largest LNG plant to date in China and is in response to growing demand from customers in China," said a release from the company.Linde's Engineering Division will be responsible for engineering, procurement and site services for the LNG plant with a nameplate capacity of 750…

© HHM / Annette Krüger

Port of Hamburg: Railborne transport up 4.3%

In the first nine months of the year, the Port of Hamburg transferred substantially more freight on to rail - Seaborne cargo handling was below the previous year’s level, owing to less bulk cargo and a slight downturn in container handling, while there was an increase for conventional general cargo.In the Port of Hamburg, railborne container transport achieved a distinct advance of 4.3 percent in the first nine months of the year. A total of 1.8 million TEU – 20-ft standard containers – were transported by rail between the port and inland inter-modal terminals.

Debasish Mohapatra (Photo: OSC)

Oman Shipping: Strong Domestic Performance

Oman Shipping Company (OSC) is reporting strong performance in domestic markets following long-term deals with local refineries and traders including ORPIC and OTI.OSC’s growth in the region is being driven by a 20-year contract to transport condensate for ORPIC (Oman Oil Refineries and Petroleum Industries Company) and a 15-year deal transporting methanol for OTI (Oman Trading International) from Salalah Methanol plant.The company is further supporting the export of LPG from Sohar Refinery to Yemen, Sudan, India, Bangladesh and Sri Lanka.

Pic: PSA Singapore Terminals

Cosco-PSA Terminal JV Adds Two New Berths in Singapore

China's Cosco Shipping Ports and PSA Corporation signed a memorandum of understanding (MoU) for the addition of two new berths at the Cosco-PSA Terminal in Singapore.With the launch of the two new berths, CPT will be equipped with five mega-vessel berths, increasing its annual handling capacity from 3 million TEUs of the current three berths to about 5 million TEUs.The new berths will strengthen CSP’s presence in Singapore and support the needs of Cosco Shipping group with the advent of mega-vessels and megaalliances in the shipping industry.