US Tariffs Loom at China's Biggest Trade Fair
Amid gathering gloom over the state of the Chinese economy, exporters of motorcycles, tractors, photocopiers and Christmas tree lighting will join thousands of other companies peddling their wares at China's largest trade fair Monday.Many of those exporters will have something in common - uncertainty over future U.S. orders as a trade war with the United States rages. The turmoil has added to concerns over the health of the Chinese economy, already under pressure from a cooling property market…
Largest Oil Shipment Sent from Vancouver to China Since 2015
An Aframax tanker is scheduled to deliver the largest shipment of crude oil from Vancouver to China since January 2015 later this month, Thomson Reuters trade flow data show.For years, Canadian officials have pushed for an escalation in crude exports to rapidly growing Asian markets, but companies in the oil-rich Alberta have limited capacity to move crude to the nation's western coastline.That makes Canadian crude exports from Vancouver to Asia rare, but shipments have picked up in recent months, with oil tankers to China, Thailand and South Korea departing in April and July.
China Busts Gangs Smuggling Scrap Steel
Customs in China's southeastern Fujian province broke up five gangs smuggling scrap steel in a late-night operation on Monday, the official Xinhua news agency reported.A total of 28 criminal suspects were held in Xiamen, Quanzhou and other cities in the coordinated operation, in which 3,237 tonnes of scrap steel was seized.The gangs had been buying the scrap in China, the world's biggest steel producer, since 2017 and sending it to Southeast Asian countries, Xinhua said.Amount of scrap smuggled was put at around 50,000 tonnes, worth some 78 million yuan ($12.2 million), as gangs sought to cash
Maersk, IBM to Launch Blockchain Joint Venture
The world’s largest container shipping firm A.P. Moller-Maersk is teaming up with IBM to create an industry-wide trading platform it says can speed up trade and save billions of dollars. The global shipping industry has seen little innovation since the container was invented in the 1950s, and cross-border trade still leaves an enormous trail of paperwork and bureaucracy. Success of the platform, which will be made available to the ocean shipping industry around mid-2018, depends on whether Maersk and IBM can convince shippers…
China's 'Smart' Ship Debuts in Shanghai
China's first "smart" ship embedded with a domestically-developed intelligent navigation system made its debut in Shanghai, according to official media Xinhua. China Daily also reported that the world's first smart ship, developed and built by China State Shipbuilding Corporation (CSSC), has started its first trial voyage in Guangzhou, capital of Guangdong province. Christened as 'Great Intelligence' (Great Smart) 179-meter-long ship is 32-meters-wide and 15-meters-high, with a maximum loading capacity of 38,800 tonnes.
Cosco Shipping H1 Net Profit Up 42%
Cosco Shipping International said its net profit rose 42% in the first half of 2017, thanks to higher net exchange gains and net finance income. In the first half of 2017, the global economy saw an upward trend in growth with improving market confidence. The solid economic and trade growth brought about long-awaited signs of recovery for the shipping industry. The rational competition and cooperation in the shipping industry further facilitated the positive growth momentum in the shipping market.
CSSC to Build Research Vessels
China's government controlled China State Shipbuilding Corp (CSSC) is going beyond building navy vessels and making advanced scientific research ships, Xinhua reported. CSSC has been focussing on defence sector till now. It was the largest supplier of surface combatants to the Chinese Navy, said the report. CSSC has been using its expertise in the research and development of naval hardware to construct high-tech civilian ships, encouraged by government measures to boost transfer of defense-related technologies to civilian and business sectors, said company officials.
CEVA Starts Rail Service between China and Germany
CEVA Logistics, a supply chain management companies, has launched a new rail service linking Shilong in southern China's Guangdong province to Hamburg in Germany. In conjunction with the Chinese state railway company, the new regular block trains will route Shilong, Manzhouli (China), Zabakalsky (Russia), Brest (Belarus), Malaszewicze (Poland) and Hamburg with a station-to-station lead time of 17-19 days. CEVA's new year-round service solution will save customers up to 2 days in time compared with other routings and will also deliver cost savings as a result.
PIL Sign MOU with Guangzhou Nansha Development Zone
A memorandum of understanding (MOU) was signed between Pacific International Lines (PIL) Group and China Guangzhou Nansha Development Zone. This MOU facilitates to increase trade cooperation, deepen business ties, and explore possible future business opportunities and development of a shipping/logistics base in the Nansha New Area. The Nansha New Area is one of three development zones that comes together to form the China (Guangdong) Pilot Free-Trade Zone. Mr Zhang Benhua, Director General…
HPH Trust Acquires Major Stake in Huizhou Terminal
Hong Kong Container port business trust Hutchison Port Holdings Trust (HPH Trust) has reached an agreement to purchase a majority stake in Huizhou International Container Terminals Limited (HICT) in Guangdong from the trust’s sponsor for about $86.26m. HPH Trust will acquire 65% and 15% of HITC equity interest, respectively through its subsidiaries, Yantian International Container Terminals (Phase III) Limited (YICT III) and Shenzhen Pingyan Multimodal Company Limited (PML). The company said that…
China Launches New 98,000-ton Heavy-lift Mega Ship
The Guang Hua Kou, one of the world's largest heavy lift semi-submersible ships, was launched last month at Guangdong Shipyard International. At 98,000 tons, it's one of the largest vessels of its size, anywhere in the world. Though the ship is formally built for COSCO Heavy Transport, a state-owned civilian firm, it will likely be made available for the People’s Liberation Army Navy (PLAN) for peace and wartime operations, reports Popular Science. A shipping line owned by the Chinese government, Cosco Heavy Transport specializes in handling heavy cargo.
ASL Marine Secures New Contracts
Shipbuilder ASL Marine has secured a total S$156 million worth of contracts from its shipbuilding, shiprepair & conversion, shipchartering and dredging engineering divisions. The contracts secured are mainly from repeat customers in the region as well as in the Middle East, the US and Europe, it said, adding that there are potential additional orders from a certain customer upon successful delivery of current projects. The shipbuilding and shiprepair & conversion contracts are…
MAN D&T Expands in Chinese Two-Stroke Market
At a ceremony in Zhuhai, Guangdong Province on January 16, 2016, local engine builder Yuchai Marine Power Co., Ltd. (YCMP) signed a new license agreement with MAN Diesel & Turbo for the production of MAN B&W-branded, two-stroke diesel engines. Jiang Shihong, Chairman of the Board and Hu Xuenan, CEO, represented YCMP, while MAN Diesel & Turbo was represented by Thomas S. Knudsen – Head of Two-Stroke, Ole Grøne – Senior Vice President, Two-Stroke Promotion & Sales, and Klaus Engberg – Senior Vice President and Head of Two-Stroke Licensing.
Cosco Bags Contract for Trailing Suction Hopper Dredger
COSCO (Guangdong) Shipyard Co., Ltd, has secured a contract from a European buyer to build one 15, 000m 3 Trailing Suction Hopper Dredger. The Singapore-listed shipbuilder COSCO Guangdong and the buyer have agreed to keep the contract price confidential. The vessel, to be built at its Guangdong yard, is scheduled for delivery in the second quarter of 2018. Barring any unforeseen circumstances, the contract is not expected to have a material impact on the net tangible assets and earnings per share of the Company for the year ending 31 December 2016.
Plunging Scrap Steel Prices Hit Ship Recycling Revenues
The Chinese ship recyclers are feeling the heat as falling scrap steel prices have eaten into their revenues during the past one year, says a report in China Daily. The increasing costs of adopting "greener" vessel-breaking method also adds to the woes, says China National Ship-recycling Association. The latest figures show ship-recycling revenue dropped 15 percent to 3.4 billion yuan ($519 million) in China last year. According to senior industry officials, the Chinese ship recycling sector was badly impacted by the continued weakness in steel scrap prices.
Hin Lee Shipyard Selects FORAN System
The SENER engineering and technology Group has signed a contract with the company Hin Lee Shipyard Co., Ltd. in Zhuhai, China, for the implementation of the shipbuilding CAD/CAM System FORAN, developed by SENER. After the evaluation of different ship design CAD/CAM systems, the shipyard has finally selected FORAN because its excellent functionalities, which cover all design stages from conceptual design to production design. The scope of the contract includes the installation of the FORAN System…
Livestock Carrier Greyman Express Delivered
Cosco Guangdong shipyard has delivered the 6th livestock carrier “Greyman Express” to Duch Vroon B.V. Company. “Greyman Express” matches the AMSA latest specification, equipped with a 4500 sq.m kkraal area and could ship 3000 adult cattles and the total length is 134.8 meters and the top speed can reach 17kn. The vessel has a bowknot hull design to make a comfortable environment for the animals during shipment. The vessel also equipped with automatic drinking water system, automatic feed delivery system, ventilation system and other animals living facilities which all passed AMSA inspection.
COSCO Readies Livestock Carrier for Vroon
Vroon Offshore Services, a Dutch offshore shipping company, has announced that the launching took place last week at COSCO Guangdong Shipyard,China of Gudali Express. The vessel is the seventh and last newbuilding livestock carrier to be built for Vroon at this shipyard. The 68-meter subsea support vessel is the second of two such vessels built at Fujian, China. Six newbuilding livestock carriers have already been delivered to the company by COSCO, all of which are trading successfully.
Sentinel Orders ERRV at Cosco Guandong
China's COSCO (Guangdong) Shipyard has secured a contract from Aberdeen-based Sentinel Marine to build a TAERRV (Tanker Assist / Emergency Response / Rescue / Field Support Vessel). Cosco says the vessel’s expected delivery date is in the first quarter of 2017. Sentinel Marine has an option to order an additional TAERRV within six months. The shipbuilder and the client have agreed to keep the contract price confidential and the contract includes an option for a second vessel.
Karachi Port Signs MoU with Chinese Port Trust
The Karachi Port Trust (KPT) and Guangdong Transport Department, China signed a memorandum of understanding (MOU) for strengthening shipping connectivity and establishing cooperation. The MoU was signed by KPT Chairman Vice Admiral Shafqat Jawed and Guangdong Transport Department Director General Zeng Zhaogeng. The signing took place when a delegation, led by Guangdong Vice Governor Liu Zhigeng visited the Karachi port. Talking on the occasion Minister Ports and Shipping said that the MOU is the first ever in KPT’s history.
Cargo Vessel Collides with Tanker at Guangzhou Port
Inbound general cargo vessel Yan Zhan 58 collided with outbound tanker Zhen Peng during the evening of May 9 in Peral river estuary near buoy 48, Guangzhou Port Channel, Guangdong province, China. The freighter struck the tanker, loaded with 2,290 tons of gasoline. The tanker’s hull was reportedly breached. The incident has caused water penetration in Zhen Peng and the ship has lost electricity onboard. As the vessel was in danger of sinking, she was towed to shallow waters and intentionally grounded to avoid sinking in the channel.
Cosco Bags Research Ship Order
Cosco (Guangdong) Shipyard secured a contract worth over 129 million yuan ($20.8m) to build one research vessel, to be delivered in the fourth quarter of 2017. The contract will become effective upon the receipt of letter of guarantee from the shipyard's bank. Cosco (Guangdong) Shipyard is a subsidiary of Cosco Corporation (Singapore) Ltd's 51 per cent-owned subsidiary, Cosco Shipyard Group. The contract is not expected to have a material impact on the net tangible assets and earnings per share of Cosco Corporation (Singapore) for the year ending Dec 31, 2015.
Greyman Express Launched
China’s COSCO Guangdong Shipyard today launched Greyman Express, the sixth newbuilding livestock carrier to be constructed for Dutch company Vroon at this yard. Four newbuilding livestock carriers have already been delivered to Vroon and have entered service. The fifth vessel, Gloucester Express, will be delivered later this year, with the final two vessels - Greyman Express and Gudali Express – joining the fleet in 2016. These revolutionary livestock carriers are “next‑generation” livestock vessels, boasting a cargo capacity of approximately 4,500 sqm and a cruising range of around 18,000 NM.
COSCO to Build Livestock Carrier
The Board of Directors of COSCO Corporation (Singapore) Limited have informed that COSCO (Guangdong) Shipyard Co., Ltd, a subsidiary of the Company’s 51% owned subsidiary, COSCO Shipyard Group Co., Ltd, has secured a contract valued at approximately USD30 million from a European buyer to build one (1) 4500 square meters Livestock Carrier. The Livestock Carrier is scheduled for delivery in the second quarter of 2016. Additionally, the ship owner has an option to render effective, within six (6) months, one (1) contract for the construction of a similar vessel.
Wärtsilä Strengthens Its Position in China with New Propulsion Orders
Two new marine geological research vessels under construction in China will feature a broad scope of Wärtsilä engines and propulsion equipment. Wärtsilä has maintained a leading position in China for supplying propulsion solutions to research vessels. Since 2011, more than 70% of the research vessels built in Chinese yards have been fitted with Wärtsilä products. These latest contracts were placed with Wärtsilä in September. The new vessels are being built at the Shanghai shipyard of CSSC (China State Shipbuilding Corporation) and the COSCO shipyard in Guangdong…
China's Maritime Economy Expands by 8 Pct Annually
The total production value of China's maritime industry grew by an average of 8.4 percent annually from 2011 to 2014, representing over 9.3 percent of the GDP each year, reports China's official media. During the same time frame, the industrialized utilization of ocean water had accelerated, according to the 2015 report on China's marine economy development issued by the State Oceanic Administration (SOA). The daily desalination capacity increased by 331,000 tonnes and annual growth rate of maritime biological medicine added value reached 19.6 percent, the report said.