OOCL Introduces China Pakistan Express 3
Following its announcement of the China Pakistan Express 2 (CPX2) last week, Orient Overseas Container Line Limited (OOCL) is all set to introduce the China Pakistan Express 3 (CPX3), another new Intra-Asia service to expand its product portfolio by providing a more comprehensive service network connecting the markets of India and Pakistan. The CPX3 provides additional sailing frequency from Central China to Mundra and strategically expands its service coverage in Pakistan. "Together with the CPX2…
China Unveils Huge Island Building Vessel
China has has unveiled a massive island-building vessel, which has been called “a magic island-maker” by its designer and is considered the most powerful vessel of its type in Asia, the state media reported. Named Tian Kun Hao, the ship is reported to have a deck the size of nine basketball courts and be capable of dredging up to 6,000 cubic meters an hour and digging as deep as 35 meters under the sea floor. The ship, capable of building artificial islands of the sort the country has constructed in the contested South China Sea…
US, Japan Keen to Raise South China Sea at G-7
South China Sea warning looms over G7 summit. The United States is keen to raise the issue of South China Sea at a Group of Seven foreign ministers (G-7) meeting in Hiroshima. The US expects that this move would likely draw an angry response from the government in Beijing. Japan also wants to discuss South China Sea. The Shinzo Abe administration of Japan has been trying to place the South China Sea on top of the agenda at the upcoming two-day meeting in Hiroshima, despite pressing issues of combating terrorism and extremism, and the refugee crisis troubling Europe and the Middle East.
Sino-Danish Focus on Energy Efficient Ships
A delegation from the Chinese Ministry of Industry is visiting Denmark as part of the cooperation between the two Administrations. A Danish-Chinese workshop on energy efficient ship design and marine equipment will be held during the three-day visit. The workshop will be attended by the Danish Maritime Authority, the Chinese Ministry of Industry and other Chinese authorities, as well as shipowners, marine equipment manufacturers, the Technical University of Denmark (DTU) and Danish Maritime.
Will COSCO-CSCL Marriage Happen Soon?
The ocean carrier merger - between China’s two state-owned megacarriers, COSCO and CSCL - rumours are back in the news! The beleaguered state behemoths struggling in a protracted industry slump - China Ocean Shipping Group (Cosco) and China Shipping Group - were ordered to come up with a merger plan late Thursday, sources told the South China Morning Post. The mainland’s two largest shipping and logistics conglomerates together control 11 listed entities in Shanghai, Shenzhen, Hong Kong and Singapore.
Hong Kong Follows US FMC Lead on Liner Sharing Data
Maintaining Separate Identities and Sharing of Competitive Information in U.S. Since the advent of the proposed, but never implemented, P3 Alliance in 2013, the sharing of commercially sensitive information between parties to a vessel sharing agreement (VSA or Alliance) has been a hot topic. The proposed P3 Network Vessel Sharing Alliance (P3 Alliance) would have consisted of Maersk, CMA CGM and Mediterranean Shipping Company (MSC); the world’s three largest ocean carrier companies by volume of containers carried.
China OKs Maersk Hamburg Süd Deal
The Ministry of Commerce (MOFCOM) in China approved Danish shipping giant Maersk Line’s proposed acquisition of Hamburg Süd, reported Reuters. Maersk Line, the world’s biggest container shipping company, will pay 3.7 billion euros ($4.3 billion) to buy German rival Hamburg Sud. However, China has put in place restrictions on Hamburg Süd and Maersk Line’s use of vessel-sharing agreements (VSA). The ministry, in a statement, said the company could not enter a new ship sharing alliance on Far East-South America routes in the five years after the deal.
COSCO: 10 Vessels with Hans Jensen Lubrication System
One of the world’s biggest shipping companies, China COSCO Shipping Group, has placed an order for 10 large ore carriers from China State Shipbuilding Corporation. COSCO specified the order to include the cylinder lubrication system ‘HJ Lubtronic SIP’ from Hans Jensen Lubricators A/S, as it enables large cost savings through reduced cylinder oil consumption, and reduced wear on cylinder liners and piston rings. The first vessel is scheduled for delivery in January 2018. Today’s energy efficient diesel engines for marine vessels are designed to reduce environmental footprints and fuel costs.
Singapore Exports Surge 21% Y/Y
Singapore's non-oil domestic exports (NODX) rose at a much stronger pace than expected in October, thanks to growth in both electronics and non-electronic sectors, official data showed on Friday. Exports increased 20.9 percent in October year-on-year, data from the trade agency International Enterprise Singapore showed, with shipments to China surging 53.3 percent. That was more than the 10.0 percent increase predicted by economists in a Reuters poll. In September, exports unexpectedly contracted after 5 straight months of gains as electronics shipments fell for first time in almost a year.
China to Invest in Greek Transport Infrastructure
China wants to invest in Greek airports and railways as well as the busiest port, officials said on Friday, as the country where the euro debt crisis began seeks a role as China's gateway into Europe. Chinese Premier Li Keqiang is on a three-day trip to Greece to boost economic ties between the nations, who have drawn closer since China's Cosco Paficic won a 35-year concession in 2009 to upgrade and run two cargo piers at the Piraeus port. Greece, which relies on bailout loans from the European Union and the International Monetary Fund…
K-Line Adds 311,000 DWT-Type VLCC “Kisogawa”
Japan’s shipping major Kawasaki Kisen Kaisha (K-Line) has expanded its fleet as it took delivery of the 311,000 dwt very large crude carrier (VLCC) Kisogawa on November 15. Kisogawa, which was constructed by China’s Nantong Cosco KHI Ship Engineering (NACKS), features a length of 339 meters and a beam of 60 meters. "The vessel achieves low fuel consumption (about 20% reduction compared with our conventional VLCC) by removing Bulbus Bow, applying ultra-long stroke slow speed main diesel engine and highly-efficient large diameter propeller," said a press release.
Chinese Shipbuilder Wins Award for Largest Heavy Lifting Vessel
Shanghai Zhenhua Heavy Industries Company has built the largest heavy lifting vessel in the world which can carry up to 12,000 tons. The vessel, which took eight years to design and build, was awarded a special prize at the 19th China International Industry Fair in Shanghai. Seen as a symbol of China's growing engineering prowess in ocean technologies, the Zhenhua 30 was previously tested in front of representatives from ABS class society, domestic and international clients and the Chinese and Korean government.
Fitzgerald Named CEO of Maersk’s Container Unit
Sean S. Fitzgerald has been named Chief Executive Officer of Maersk Container Industry (MCI), effective January 1, 2018. MCI develops and manufactures refrigerated containers, dry containers and the Star Cool refrigeration machine for the global intermodal industry and is part of A.P. Moller – Maersk’s Transport & Logistics division. Fitzgerald will assume overall responsibility for the strategic direction and the entire operations of the company including its more than 5,000 employees in three container manufacturing plants in Chile and China and its R&D center in Denmark.
Scorpio Bulkers Acquires Four Vessels
Scorpio Bulkers, announced that it has entered into two separate agreements with unaffiliated third parties to acquire three Ultramax dry bulk vessels and one Kamsarmax dry bulk vessel. The deal was for an aggregate of $90 million, of which $77.1 million is payable in cash and the remaining consideration is in the form of approximately 1.592 million common shares of the Company to be issued to one of the sellers. All of the Ultramax vessels were built at Chengxi Shipyard Co Ltd in China, of which two were delivered in 2014 and one was delivered in 2015.
Seaspan Appoints Bing Chen As Chief Executive Officer
Seaspan Corporation announced that Bing Chen will be joining the Company as its Chief Executive Officer (CEO), and appointed to the Board of Directors in January, 2018. Gerry Wang will be retiring as CEO and Director of Seaspan effective November 3. Upon Wang’s retirement, Peter Curtis, executive vice president and chief operating officer, will also serve as Seaspan’s interim chief executive officer until Chen’s arrival, after which he will continue in his current role. David Sokol…
Cosco Shipping Ports to Build Freight Station at Khalifa Port
Abu Dhabi Ports and Cosco Shipping Ports Limited (CSP) and Abu Dhabi Ports broke ground for the construction of a new container terminal at Khalifa Port during a high-profile event on Sunday, reported WAM. The ports also signed an agreement with Abu Dhabi Ports Company for a container freight station, which is expected to be the largest in the region. The new container freight station will provide Abu Dhabi trade with a state of the art facility offering bonded 'LCL/FCL' consolidation and de-consolidation services…
Survitec at Marintec China 2017
Safety solutions provider Survitec is continuing to show its commitment to the Asia-Pacific region by displaying its latest range of safety and survival solutions at Marintec China 2017, between December 5th-8th. The exhibition takes place at the Shanghai New International EXPO Centre and Survitec’s experts will be on hand to answer all technical enquiries. Survitec will not only display its lifejackets and life rafts, but also its range of fire and gas safety systems, including the latest N2 nitrogen generator.
Bahri Optimistic of Oil Tanker Market
Bahri, a global leader in transportation and logistics, is very optimistic about the future of the oil tanker market and it believes that there will continue to be demand for this market, said Mohammed Al-Sarhan, Vice Chairman of Bahri, who possesses extensive experience in oil and gas, transportation and logistics, and other sectors. He was talking in the annual Bahri Oil Transportation Forum, which was held in Dubai last week. John Angelicoussis, Chairman of Angelicoussis Shipping Group Limited…
Tomini Places Order for 3 Kamsarmaxes
UAE-based Tomini Shipping has increased its fleet size further with an order for three Kamsarmaxes. The 82,000 DWT ships are being built by Taizhou Kouan Shipbuilding Co, a successful private shipyard in China with over 40 years of shipbuilding experience. The vessels are scheduled for delivery from the second half of 2019 onwards and follow the company’s order earlier this year for three newbuilding bulk carriers from another prominent Chinese shipyard. This latest deal underlines Tomini Shipping’s comprehensive fleet renewal strategy with the latest in quality…
Amid Sea Disputes, China to set up maritime "Judicial Center"
China plans to set up an "international maritime judicial centre" to help protect the country's sovereignty and rights at sea, its top judge said on Sunday. Giving a work report at the annual meeting of China's largely rubber-stamp parliament, chief justice Zhou Qiang said courts across China were working to implement the national strategy of building China into a "maritime power". "(We) must resolutely safeguard China's national sovereignty, maritime rights and other core interests," he said. He gave no details.
US, Australia and EU Warn China on South China Sea
China was warned by many the United States and the European Union that it should respect a ruling later this year on its dispute with the Philippines over territory in the South China Sea, reports Reuters. In a message has been sent to China, which is attempting to turn the artificial islands it has built in the South China Sea into military strongholds, US warned that its self-serving actions are unacceptable. With the South China Sea in mind, a joint statement by the leaders…
COSCO Rolls Out Shipping Financial Platform
China COSCO Shipping Co. Ltd (China COSCO Shipping) officially inaugurated the company “COSCO shipping Financial Holdings Limited (COSCO shipping Financial) in Hong Kong. It was former China Shipping (Hong Kong) Holdings, reports Sinocast. The formation of Cosco Shipping Financial followed the completion of the merger between China Cosco Group and China Shipping Group in February this year to become Coscocs. COSCO Shipping Financial Holdings, together with China Shipping Container Lines, will form a financial holding platform of China COSCO Shipping Corporation.
South China Sea Boils Up
The overlapping territorial disputes in the South China Sea involve China, Brunei, Malaysia, Taiwan, the Philippines and Vietnam have recently been moving from bad to worse. Vietnam is seeking to upgrade its air defences by acquiring western fighter jets and drones, a move which would further militarize a dispute with Beijing over territorial claims in the South China Sea. Taiwan's coast guard has commissioned its biggest ships for duty in the form of two 3,000-ton patrol vessels…
China's Maritime Silk Road Gamble with ASEAN
The Chinese Foreign Minister Wang Yi said China hopes to connect its 21st-century Maritime Silk Road with the ASEAN Community, reports the state news agency Xinhua. China and the Southeast Asian countries were linked with each other by the ancient maritime Silk Road in history, and he hoped that the construction of the 21st Century Maritime Silk Road could be aligned with the forthcoming establishment of ASEAN Community, he said. Wang alos said:"The Maritime Silk Road must pass through Southeast Asia.
Will China's Economic Slowdown Affect Latin America Trade?
Erik Bethel, of SinoLatin Capital addressed the question at recent Latin America China Investors Forum in Shanghai. Amidst much speculation regarding the slowdown of China’s GDP, with 2012 estimates likely to fall below 8%, SinoLatin Capital dispelled fears of a “China Meltdown” to an audience of 500 delegates from Latin America and China. “Latin America will continue to be an indispensable commodities supplier for China. “The majority of the China analysts in the western media are focused on the short-term,” noted Bethel.
China Cruise Ship to Visit Disputed Islands
China's plans to sail a cruise ship to the Paracels Islands in the South China Sea ahead of the nation's coming May Day holiday likely to escalate tensions. China is planning to let tourists visit the Xisha Islands (the name China has given to the Paracels Archipelago) ahead of the forthcoming May Day holiday, according to Vietnam's Thanhnien News, citing a China state news agency Xinhua report. An unnamed 47,000 tons cruise ship owned by Haihang Group with accommodation for 1,965 passengers is ready for sailing.