Partners Extend Ocean Alliance to 2027
Partners in the world’s largest operational agreement between shipping companies have agreed to extend their alliance until 2027.The Ocean Alliance, consisting of CMA CGM Group, COSO SHIPPING, Evergreen and OOCL, was launched in 2017 for an initial period of five years with an option for a five-year renewal.The partners confirmed they will extend to the alliance's full 10-year duration, during a signing ceremony in Hainan, China on Thursday.Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group…
Cosco Opens New International Hainan-ASEAN Liner Route
The New International Land-Sea Trade Corridor (ILSTC) and COSCO Shipping 'Hainan-ASEAN (Singapore)' Liner Route, co-hosted by Hainan Provincial People’s Government and COSCO Shipping, was launched at Hainan Yangpu Xiaochantan Terminal owned by Hainan Harbor & Shipping Holding.Hainan Governor Shen Xiaoming announced the launch of the maiden voyage.The “Hainan-ASEAN (Singapore)” Liner Route opens a direct passage through which goods from China’s western regions can be shipped southward to Singapore via Yangpu Port…
China Unveils Plan for Hainan Free Trade Zone
China on Tuesday granted the southern province of Hainan free trade zone (FTZ) status, vowing to significantly ease restrictions on foreign investment on the island in sector from agriculture to medical services.Known for its sandy beaches and resort-lined coast, Hainan is the headquarters of China's aviation-to-financial services conglomerate HNA.President Xi Jinping first said in April China would set up a free-trade pilot zone and build an international free trade port in Hainan.Spanning 35,400 square kilometers, the Hainan FTZ would be much bigger than China's eleven existing FTZs, which a
China's Stricter Ship Emissions Rules a Boon for IMO 2020 Compliance
Tighter rules on shipping emissions around China's coastlines from the start of next year is a clear sign the world's No.
China to Set up Hainan Free Trade Zone by 2020, Port by 2025
China aims to establish a free trade zone in Hainan by 2020 and will encourage multinationals to set up their international and regional headquarters in the province, state news agency Xinhua reported citing a government document. The guidance was jointly issued by the ruling Communist Party and State Council, Xinhua said. It comes after President Xi Jinping announced on Friday that the country would grant foreign firms greater economic freedom in the southernmost province. Known for its sandy beaches and resort-lined coast…
Sea Ice Could Disrupt Shipping in Northern China
A unit of China's State Oceanic Administration (SOA) on Friday issued a blue alert for sea ice in a key port area in the north of the country, potentially disrupting commodities shipments, as temperatures in the region plummet. Sea ice in the Liaodong Bay, the northern arm of China's Bohai Sea, now extends 67 nautical miles (124 km) from the shoreline, the North China Sea Marine Forecasting Center said in an 0700 GMT alert. Ice also extends 18 nautical miles out in the northern part of the Yellow Sea, the Center said.
Cyber Attacks Threaten Shipping & Dominate Maritime News
The maritime industry must redouble its efforts to secure IT systems and data. In June, Maersk Line A/S’s information systems were severely disrupted by the so-called Petya virus. FMC provided Maersk with relief to help them get through the difficult situation. In Mid-July, a researcher penetrated a ship’s internet system through its very small aperture system (VSAT). The ship was operating in the South America trade. An internet security researcher identified as “x0rz” discovered that many shipboard VSAT systems can be penetrated through the public internet…
China to Hold Military Drill in South China Sea
China’s maritime safety administration announced China’s military's plans exercises in the disputed South China Sea this week, adding to tensions ahead of an international tribunal’s ruling that is expected to challenge Beijing’s maritime claims in the area. The naval drills, which will cover the area east of China’s Hainan Island all the way to and including the Paracels, will be held on July 5-11, Reuters reports, citing a brief statement published online. The drills will be ending July 11, the day before the United Nations-backed tribunal in The Hague is expected to issue its ruling.
COSCO to Roll out Cruise to Xisha Islands
China’s state-owned COSCO Shipping Corp plans to launch cruise services in the South China Sea in July, reports Reuters. The first route is expected to travel from Sanya to the Yongle Island, part of the Xisha Islands in Hainan province. Its part of Beijing’s plans to transform several islands in the disputed waterway into tourist destinations to bolster its territorial claims. "It is practical to stimulate the local economy through development of tourism, logistics and infrastructure facilities," Xu Lirong, chairman of COSCO Shipping, said.
Indonesian Navy fires on Chinese boat, injures fisherman
An Indonesian naval vessel fired on a Chinese fishing boat on Friday, injuring one person, China's foreign ministry said, the countries' third reported confrontation this year near a chain of islands as regional tensions mount in the South China Sea. Beijing had made official protests over the incident, the ministry said in its statement on Sunday, and urged Indonesia not to take any more actions to complicate the situation. Indonesia's navy said it had fired warning shots at several boats with Chinese flags that it said were fishing illegally near the Natuna Islands…
Asia Cruise Cooperation Launched
Five Asia cruise destinations – Hainan, Hong Kong, The Philippines, Taiwan and Xiamen–jointly announced the launch of Asia Cruise Cooperation (ACC), a committed and resourceful alliance with a strong commitment to maximize the growth of cruise tourism in Asia. Launched at a cocktail reception at Seatrade Cruise Global in Ft. Lauderdale, Florida, the members of ACC vowed to provide full support to cruise lines to develop Asian cruise products. Riding on the success of Asia Cruise Fund founded in 2014 and the participation of Xiamen since January…
Malaysia, China to Boosting Port Connectivity
Malaysia and China are working to boost connectivity between their sea ports to raise bilateral trade to achieve a trade volume of $160bn by 2017, says a report in the Star. Transport Minister Datuk Seri Liow Tiong Lai said the two countries were also exploring the introduction of more flight routes between the two countries to promote tourism and strengthening trade ties. "We are working towards increasing efficiency and effectiveness of the ports in order to achieve a trade volume of US$160bil (RM662bil) by 2017," he said.
China’s Crisis Not Impacting Tanker Market
In its latest weekly report, London-based shipbroker Gibson noted on China that “certainly, Chinese manufacturers have lost their appetite for commodities which has impacted heavily on demand for coal, iron ore and copper with an obvious impact on the dry cargo market. China has taken advantage of the low crude oil prices to fill both their strategic reserve as well as commercial inventories. Crude oil imports to China hit a record 7.6 million b/d in July and are anticipated to remain at elevated levels into second-half of 2015 despite the slowdown in economic growth.
CNOOC Profits Nosedives, Eyes South China Sea
Cnooc Ltd., China’s biggest offshore oil and gas explorer, posted a 56 percent decline in profit for the first half of this year. Net income dropped to 14.73 billion yuan ($2.3 billion), or 0.33 yuan a share, from 33.59 billion yuan, or 0.75 yuan, a year earlier, the Beijing-based explorer said in a statement to the Hong Kong stock exchange Wednesday. That exceeded the 13.9-billion yuan average of three analyst estimates compiled by Bloomberg. Despite profit fall, the company kept its dividend payout the same as the year-earlier level.
Chinese Navy Plays Down S. China Sea Exercises
The Chinese navy played down recent military drills in the South China Sea and criticised other countries for "illegally" occupying islands in the area, the official Xinhua news service reported on Saturday. China has launched a naval drill in waters to the east of Hainan island, a largely unpopulated region of reefs and shoals in which a number of countries maintain contradictory and overlapping territorial claims. "Holding sea drills is a common practice for navies with various countries.
Chinese Navy Conducts Drill in South China Sea
The Chinese navy has announced 10 days of military training in the waters near eastern Hainan Island in the South China Sea starting on Wednesday, amid heightened tensions in the region. Playing down the significance of the exercises, the Chinese military said the drills, started yesterday in the east of Hainan Province, are not directed against neighbours. "The drills are regular military exercises scheduled in the annual plan, without targeting any other country," the Ministry of National Defence said.
This Day in Coast Guard History – Feb. 9
1965-A commercial DC-7 with 84 persons on board exploded in midair off Jones Beach, Long Island. Despite an extensive search by seven Coast Guard cutters, six Coast Guard aircraft, and a US Navy tug, no survivors were located. Only nine bodies and various pieces of debris were located and recovered. 1968-CG cutters Androscoggin, Minnetonka, and Winona, along with 82 footers and Navy assets, on patrol in Vietnamese waters, thwarted a Communist attempt to run four trawlers through the Market Time blockade off the coast of South Vietnam.
Latest Commercial Shipbuilding Contracts
There has been a significant volume of shipbuilding business reported in the week according to Clarkson Hellas. The dry bulk fleet has seen a number of new additions this week. It was reported that SWS signed an additional order with Clients of Thenamaris for 1+1 180,000 DWT Capesize vessels, with the firm vessel lined up for delivery in 2015. Clients of Nordic Bulk Carriers placed an order for two firm 75,000 DWT Ice Class 1A bulk carriers at Oshima for delivery in 2015. Although pricing was not officially revealed…
Hong Kong to Hainan Dao Yacht Race
A yacht race from Hong Kong to Hainan Dao will take place on 16 October 2014 (Thursday). About 20 yachts are expected to participate in the race. The race will start at 1320 hours on 16 October 2014 off the Causeway Bay Typhoon Shelter, and follow an easterly route through the harbour, Tathong Channel and Lo Chau Mun, thence to Hainan Dao. Masters, coxswains and persons-in-charge of vessels navigating in the vicinity of the race route should proceed with caution, giving practical consideration to the contestants.
China Shipbuilder CSIC Diversifies Operations
China Shipbuilding Industry Corporation (CSIC) signs agreement with Sansha Municipal Government to work on infrastructure energy & water resources. China's major ship-building conglomerate will start infrastructure, energy and water resources projects in Sansha, the country's southernmost city in the South China Sea, reports China Daily. The Sansha Municipal Government signed a package of cooperation agreements with China Shipbuilding Industry Corporation, the state-owned conglomerate that engages in manufacturing and scientific research in a number of maritime industries.
ICOMIA Supports Hainan, China, International Boat Show
The International Council of Marine Industry Associations (ICOMIA) signs long-term agreement to support the Chinese boat show. The show will focus on mid-range boats (10 - 15 meters) afloat and small craft ashore for watersport promotion. The International Boat Show and Festival is organised with the assistance of the Beijing based China Cruise and Yacht Industry Association (CCYIA), a full Member of ICOMIA. In response to these very challenging economic times in the traditional markets…