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Thursday, October 17, 2019

South China News

Image: Evergreen

Evergreen Orders Ten Ships

Taiwanese shipping line Evergreen has confirmed its plans to build a total of ten 23,000 TEU containerships.According to a stock exchange filing, the new vessels would be built at three shipyards  in South Korea and China.According to the reports from the South China Morning Post, the enormous order will cost Evergreen anywhere between US$1.4 billion and US$1.6 billion. It is estimated that each vessel will cost between $140 million and $160 million.The new vessels could see Evergreen become the sixth biggest carrier line in the world…

ReCAAP ISC has reported a total of eight incidents of piracy and armed robbery against ships in south-east Asia during August 2019. (Photo © Adobe Stock / VanderWolf Images)

SE Asian Ship Piracy Levels Steady

ReCAAP ISC has issued the August 2019 Report on the situation of piracy and armed robbery against ships in Asia which notes that a total of eight incidents was reported in Asia in August and that of these eight incidents, two were piracy incidents and six were incidents of armed robbery. There wer no reports of the abduction of crew in the Sulu-Celebes Seas and waters off Eastern Sabah; and there were no hijackings of ships for the theft of oil cargo but the abduction of crew for ransom in theSulu-Celebes Seas and the waters off Eastern Sabah remains a serious concern.

Pic: Port of Rotterdam

Nansha Doubles Direct Sailings to Rotterdam

The deep-water port of Nansha in Guangzhou, a city of 15 million people in the vicinity of Hong Kong, has doubled the number of direct connections with North Europe and West Africa, following the arrival of the Elly Maersk.The Elly Maersk departed from Nansha for Rotterdam on 28 July; the first departure of the new 2M service, doubling the number of direct departures from Nansha to Rotterdam. The Ocean Alliance also already has direct connections with this fastest growing port in the south of China.Nansha port started international departures ten years ago…

Port of Nansha, the deep sea port of Guangzhou, has now 4 direct sailings connecting Europe. Image: © portofnansha.com

Chinese Port Doubles Direct Connection with Europe

The deep water port on the shore of the Pearl river (aka Zhujiang River), in the Nansha District in the Southern China, Port of Nansha doubled direct connection with North Europe and West Africa.The first navigation ceremony was held at the dock site on  July 28, as the first sailing of Elly Maersk in port of Nansha marked a new upgrade of AE7/CONDOR of 2M alliance from Asia to Europe.On this service 2M alliance deploy 12 vessels of 14 to 18 thousand TEU, calling Nansha on every Sunday.

Captain Andrew Kinsey, Senior Risk Marine Consultant with Allianz Risk Consultant (ARC)

Shipping Losses Lowest This Century as New Dangers Emerge

The Allianz Global Corporate & Specialty AGCS) Safety & Shipping Review 2019 provides a unique and in-depth look at the emerging risks facing international shipping stakeholders.Large shipping losses are now at their lowest level this century having declined by over 50% year-on-year, according to Allianz Global Corporate & Specialty SE’s (AGCS) Safety & Shipping Review 2019. The annual study analyzes reported shipping losses over 100 gross tons (GT). AGCS provides global marine and shipping insurance for all types of marine risk…

Pic: ZIM

Zim Begins Asia-Gulf Services with 2M

The global container shipping line Zim Integrated Shipping Services Ltd (Zim) announced a further expansion of its strategic cooperation with the members of the 2M Alliance, Maersk & MSC, to the Asia - US Gulf Trade."The new services, catering for both Central and South China and South Korea, offer significant advantages for customers, including direct connections to major ports in Asia and the US Gulf; best-in-market transit time with reliable dedicated service; Two weekly cutoffs in Houston & Mobile to better serve growing US exports requirements…

AdobeStock / © Rawf8

Hopes for U.S.-China Trade Truce Boost Markets

Risk appetite returned to world markets on Thursday following a media report the United States and China have tentatively agreed to a truce ahead of a highly-anticipated weekend meeting of the two nations' leaders in Tokyo.The South China Morning Post (SCMP), citing sources, said Washington and Beijing were laying out an agreement that would help avert the next round of tariffs on an additional $300 billion of Chinese imports.On Wednesday, U.S. President Donald Trump said a trade deal with his Chinese counterpart Xi Jinping was possible this weekend…

Photo: APL

APL Launches Bangkok Haiphong Service

APL, part of the CMA CGM Group, has announced the launch of the Bangkok Haiphong (RBH) service that will provide weekly connectivity between South China, Thailand and Vietnam.An express service from South China to Thailand, the RBH service will make an alternative sailing choice from Shekou to Laem Chabang. The service also offers shippers direct connectivity from Bangkok and Laem Chabang to Haiphong.The RBH service will begin sailing from Nansha on July, 3rd. The service will call at the ports of Nansha, Shekou, Bangkok, Laem Chabang and Haiphong.

Senior China Official: Trade War Could Cut GDP 1 pt

A senior official of China's ruling Communist Party said the trade dispute with the U.S.

APL Enhances Japan Thailand Vietnam Service

APL has announced that the Japan Thailand Vietnam (JTV) service is extending its port rotation to the Philippines and within South China. The refined service will be calling three additional ports in Manila, Shekou and Nansha as part of its service rotation.The enhanced JTV service is primed to facilitate direct shipments from the load ports in South China to the Philippines, promising a fast 3-day Shekou-Manila transit time. The weekly service will also provide direct access to Laem Chabang in Thailand from Manila.

Photo:Cosco Shipping Ports

Cosco Intros Guangzhou Supply Chain Platform

The global ports operator Cosco Shipping Ports signed investment agreement of Cosco Shipping Ports Supply Chain Project with Guangzhou Nansha Economic and Technology Development Zone Commercial Bureau.The Cosco Group company said that it plans to develop phase I of terminal extended business in the land near Nansha Stevedoring Corporation Limited of Port of Guangzhou and Guangzhou South China Oceangate Container Terminal Company Limited, in order to develop port supply chain platform…

© windy Li/AdobeStock

Mnuchin: China Talks "So far, so good"

U.S. Treasury Secretary Steven Mnuchin said talks with China went well on Wednesday, as the world's two largest economies try to iron out an agreement to resolve their trade dispute."So far, so good," he said when asked by reporters on how the meetings in Beijing went. He did not say who he met.Mnuchin said earlier he hoped for "productive" trade meetings as the two countries seek to end a festering dispute that has seen both sides level tariffs at one other.U.S. tariffs on $200…

Image:  Hanjin Heavy Industries and Construction

Chinese Eye Philippines Hanjin Shipyard

Two Chinese shipbuilding companies have expressed intent to invest in the largest Philippine shipyard, debt-riddled Hanjin Heavy Industries and Construction Philippines, the Department of Trade Industry (DTI) said.Drowning in debt,  the Philippine business of the Hanjin Group of South Korea, has asked the government for help in search of an investor who would take over the business and save the troubled shipbuilder.Philippines Rodrigo Duterte administration has stepped in to help save the troubled investor in Subic.According to local media reports…

Pic: Cosco Shipping Ports

Cosco Shipping Ports Buys Stake in Beibu Gulf Port

Hong Kong-based Cosco Shipping Ports has purchased a 4.34% stake in Shenzhen-listed Beibu Gulf Port Co for a total consideration of approximately RMB 470 million (USD 68 mln)."By subscribing the shares, Cosco Shipping Ports aim to further strengthen the cooperation with Beibu Gulf Port, and lay a foundation for the Company to participate in the integration of Guangxi ports. At present, Cosco Shipping Ports teams up with Beibu Gulf Port in operating Qinzhou International Container Terminal Co.…

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…

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…

© Igor Groshev / Adobe Stock

Zhenhua Buys First LNG Cargo from Chevron

China's state-run Zhenhua Oil purchased its first liquefied natural gas (LNG) cargo from Chevron Corp to supply a South China-receiving terminal that it won access to in a recent auction, according to Zhenhua officials on Thursday.The 100-million-cubic-meter cargo was purchased at about $0.30 per million British thermal unit discount to Japan Korea Marker (JKM) quotes on a delivered basis, the officials added.The cargo, discharged at CNOOC's Yuedong terminal in Shenzhen, was sourced from the Australian Gorgon project operated by Chevron.Zhenhua and its local partner Longkou agreed in September

Image: Ocean Installer

Ocean Installer Wins First Contract in China

Ocean Installer has been awarded a contract for 3rd Party Verification and Engineering Support work for the Liuhua 29-1 Gas Field Development located in the South China Sea.The work scope encompasses 3rd party verification of detailed design and subsea construction engineering, as well as various other support functions to the client’s engineering team.This is the company’s first job in China, and Ocean Installer will conduct the work as a subcontractor to COOEC Subsea Technology Co.…

Photo by DNV GL

Yang Ming Marine Transport Upgrade China-Indonesia Service

Taiwanese ocean shipping company  Yang Ming Marine Transport Corp. (YM) will upgrade its China to Indonesia Service (CTI service).Four container vessels of nominal 4,250TEU will be deployed for the service effective on 7th August 2018.They will serve customers not only from Central & South China to/from Jakarta & Surabaya but also provide direct service from Davao to Kaohsiung & China.The CTI service will make a round voyage in 28 days. The rotation of ports of call are: Shanghai–Ningbo–Shekou–Jakarta–Surabaya–Davao–Kaohsiung– Shanghai.

Graph: Allianz Worldwide

Shipping Losses Continue to Fall

Large shipping losses have declined by 38 percent overall in the past decade, according to the Safety & Shipping Review 2018 by Allianz Global Corporate & Specialty (AGCS).Further, the number of total losses declined by 4 percent to 94 last year, the second lowest number in a decade.“Insurance claims have been relatively benign, reflecting improved ship design and the positive effects of risk management policy and safety regulation over time,” says Baptiste Ossena, Global Product Leader Hull & Marine Liabilities…

File Photo: ZIM Integrated Shipping Services Ltd

ZIM Annouces New Asia - America Network with 2M

Zim Integrated Shipping Services (ZIM) has announced the new Strategic Partnership Agreement with the 2M alliance, details of the new improved Asia - U.S. East Coast – Asia network that are now available.Nissim Yochai, ZIM EVP Trans Pacific Trade, said: "The new alignment will enable ZIM customers to enjoy the best of both worlds: ZIM’s highly reputed personalized service, along with the best-in-market infrastructure and product.”The new upgraded network includes 5 services under the ZIM+2M cooperation…

The One Minato, the magenta-coloured 14,000 TEU-class containership made a successful call at the Yantian International Container Terminals. Photo: Ocean Network Express (East Asia). Ltd.

One Minato Shines Through Port of Yantian

Ocean Network Express East Asia (ONE EA) has celebrated the maiden voyage of the second of a series of seven 14,000 TEU-class magenta containership of the company, ONE MINATO at Yantian International Container Terminals Limited (YICT).Sailed under the flag of Japan,  One Minato is a newly built 14,000 TEU-class containership which was delivered from Imabari Shipbuilding Co., Ltd. in Hiroshima, Japan on 24 July 2018.At 365.94 metres length and 51.2 metres width, the vessel deployed on THE Alliance’s Asia to North America East Coast trade (EC4 service)…

Plans Emerge for Strategic Indian Ocean Naval Port

Indonesia and India pledged on Wednesday to step up defense and maritime cooperation, with plans to develop a strategic Indonesian naval port in the Indian Ocean, the leaders of the two countries said after meeting in Jakarta. Indonesian President Joko Widodo met Indian Prime Minister Narendra Modi to discuss, among other issues, developing infrastructure and an economic zone at Sabang, on the tip of Sumatra island and at the mouth of the Malacca Strait, one of the busiest shipping channels for global trade.

ONE’s first magenta containership at the Port of Yantian, China. Photo: Ocean Network Express (East Asia). Ltd.

First Magenta-Color ONE Ship Makes a Call in China

Ocean Network Express (ONE) has announced that the ONE Commitment, the company’s first magenta-color  containership with a carrying capacity of 8,560 TEU, successfully arrived at the Yantian International Container Terminals (YICT) on 24 May 2018. Operated on THE Alliance’s Asia to North America PN2 service, the ONE Commitment is painted with an unmissable magenta as its brand colour which reflects the energetic, innovative and confident perception to customers. ONE Commitment started her maiden voyage from Singapore on 15 May 2018 and has already called at Laem Chabang…

© Wojciech Wrzesien / Adobe Stock photo

Phoenix Petroleum, CNOOC Partner for LNG Terminal

Philippine fuel retailer Phoenix Petroleum said it had agreed to partner with a subsidiary of state-owned China National Offshore Oil Corp (CNOOC) to explore building a receiving terminal for liquefied natural gas in the country.The Philippines is seeking investors to build a storage and distribution facility for imported LNG as it moves to replace its Malampaya gas reserves, expected to be depleted by 2024.Phoenix Petroleum, owned by a local businessman who helped bankroll President Rodrigo Duterte's 2016 election campaign…

© lindbrielle / MarineTraffic.com

Tanker Rescues Castaway in South China Sea

Mitsui O.S.K. Lines, Ltd. announced that on April 14, 2018, the MOL-operated/managed crude oil tanker Altair Trader rescued a castaway in the South China Sea.At 19:10 local time on April 14, while underway in the South China Sea toward the port of Kawasaki, Japan, the Altair Trader noticed a light on the sea surface ahead the starboard and spotted a castaway.The vessel immediately turned around and started rescue operations, and by 20:28 the same day, the survivor was safely rescued.At 22:30 on April 15…