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North China News

04 Mar 2022

China Taps Alternative Payments to Keep Russian Oil Flowing

© Igor Groshev / Adobe Stock

Chinese refiners are paying for Russian crude oil using cash transfers to maintain imports from Russia’s Fast East, as banks shy away from financing the oil because of sanctions, sources with knowledge of the matter said.Global oil prices have soared to their highest in a decade as banks halted financing Russian oil after the United States and other countries ramped up sanctions on Moscow following its invasion of Ukraine.Spot crude premiums and freight rates also spiked, piling on buyers’ costs.Several European and U.S.

26 Jul 2021

Iron Ore Stumbles as Rising Supply Runs into China Steel Discipline

Credit;masterskuz55/AdobeStock

Iron ore prices have suffered their worst week for nearly 18 months amid signs that the two factors needed for a sustained correction may be coming into play - Chinese steel producer discipline and a recovery in supply of ore.The main Chinese domestic iron ore benchmark, the Dalian Commodity Exchange contract, dropped around 10% in the week to July 23, the worst weekly performance since February last year.The contract ended the week at 1,126 yuan ($173.77) a tonne, and has now slid about 17% from its record high in May.Benchmark spot 62% iron ore for delivery to north China , as assessed by co

03 Jun 2021

Chinese Icebreaker Beacon Ship Sports Schottel EcoPellers

Schottel EcoPellers were chosen for China's first ice-breaking beacon vessel. Image courtesy Schottel

Schottel supplied main and auxiliary propulsion units for China’s first ice-breaking beacon vessel. Haixun 156, which will perform a wide range of tasks, has recently been launched by the contracted shipyard Wuchang Shipbuilding Industry Group, Hubei Province, China. It was ordered by the Tianjin Maritime Safety Administration (MSA) and is scheduled to enter operation in September 2021.The main propulsion of the beacon vessel includes of a pair of diesel-driven Schottel EcoPellers type SRE 460 (1,800 kW each) featuring a four-bladed 2.4 m-diameter propeller.

24 May 2021

China Lands Uppercut on Iron Ore Prices, But No Knockout Blow

© Amarinj / Adobe Stock

It's round one to China in its efforts to cool the red-hot iron ore and steel sectors, but victory in future rounds largely depends on making increasingly harder choices, and hoping factors beyond its control work in Beijing's favor.The catalyst for the chill was reports that China's government will strengthen what it termed the management of commodity supply and demand to curb "unreasonable" increases in prices - action that has so far seen the spot iron ore price retreat by almost 15% since its record high of $235.55 a tonne on May 12.The spot price of iron ore for delivery to North China


10 Jul 2019

Yang Ming Enhances Network

Taiwanese ocean shipping company Yang Ming Marine Transport Corporation has announced new China-Thailand direct service and Thailand - Indonesia express service.Under the impact of rising global trade tensions, a relocation and adjustment of cargo flow and supply chains is expected. To cope with this trend, Yang Ming Marine Transport Corp. continuously strengthens its Asian service network as well as the quality of Asian routes.Yang Ming has announced the launch of a new Intra-Asia service, China-Thailand Service (CTX service). The first sailing is scheduled for July 12th 2019, departing from Shanghai.A total of three container ships with loadable capacity of 1,200 TEU will be deployed for CTX service, of which one is contributed by Yang Ming.

14 Apr 2019

Dream Cruises Welcomes Third Ship

Dream Cruises, a luxury cruise line owned by Genting and based in China welcome “Explorer Dream” in Shanghai as the third ship in its Dream Cruises fleet.Dream Cruises held the christening ceremony for the former SuperStar Virgo at Shanghai Wusongkou International Cruise Terminal. Chinese designer Grace Chen served as the godmother and presented a fashion show with 18 models showcasing her 'Voyage' collection, walking a runway on the Palace Pool Deck."Formerly the “SuperStar Virgo” of sister brand Star Cruises, “Explorer Dream” will undergo a US 30 million dollar transformation in March 2019 that will incorporate exquisite new facilities including The Palace


07 Sep 2018

China Launches New Marine Satellite

China successfully launched a new marine satellite into orbit yesterday (Friday) to help improve understanding of maritime waters and study the impact of climate change, Xinhua reported.A Long March-2C rocket carrying the HY-1C satellite took off at 11:15 a.m. from the Taiyuan Satellite Launch Center in north China's Shanxi Province.The satellite will assist in monitoring ocean colour and water temperatures, providing basic data for research on the global oceanic environment, reports Xinhua, citing the State Administration of Science, Technology and Industry for National Defence (SASTIND), which oversees China's space activities.Its data will also be used in the survey of the resources and environment of China's offshore waters


06 Jul 2018

THE Alliance Updates Asia-North America West Coast Service

Members of THE Alliance, Hapag-Lloyd, Ocean Network Express, and Yang Ming have announced a services update regarding their Trans Pacific - West Coast products in response of schedule integrity improvement, extensive product enhancement and better cost efficiency. The update of THE Alliance product will feature total six services in Asia/North America West Coast. The PS5 and PS8 services will conjugate into one combined service and cater for customers connecting the key ports of North China, Central China and North America gate ports. Final sailing: Eastbound – M/V YM MANDATE 056E, ETA Xingang 23 July. PS5: Qingdao – Shanghai (Waigaoqiao) – Ningbo – Los Angeles/Long Beach – Oakland – Qingdao. Effective sailings: Eastbound – M/V CONTI CRYSTAL 104E, ETA Qingdao 6 August.

10 Apr 2018

CMA CGM Rolls Out Ocean Alliance Day Two Product

CMA CGM Group, a world leader in maritime transport, is pleased to announce the start of the Ocean Alliance Day Two Product. Based on the success of Ocean Alliance, the Ocean Alliance Day Two Product strengthens CMA CGM’s service offering by providing even better services and upgrades to the Group’s customers. The Ocean Alliance Day Two Product has a carrying capacity of around 3.1 million TEUs (Twenty-foot Equivalent Unit) with 331 containerships deployed on 41 services. CMA CGM will continue to play a major role within the alliance, deploying a fleet of 121 ships. 20 Transpacific services, 4 Transatlantic services, 6 Asia-North Europe services


09 Apr 2018

Maersk Expands Online Platform Service Scope

Maersk Line takes further steps towards simplifying the supply chains of its customers by expanding the service scope on its online platform ship.maerskline.com to cover more major trades and addressing customers'pain points. The new scope on the platform will cover customers exporting from ports of Shanghai and Ningbo in Eastern China and Qingdao in North China, to all Mediterranean destinations; expanding from the current three Northern China ports (Qingdao, Xingang and Dalian) to West Africa, South Africa and East Coast South America. The offering will be available for customers located in China, placing bookings either directly or through a booking agent.

21 Mar 2018

INTTRA, NAMSUNG Expand

INTTRA, a neutral electronic transaction platform, software and information provider at the center of the ocean shipping industry, announced an expansion of its rapidly growing carrier network with the addition of Korea's Namsung Shipping Co. Ltd. NAMSUNG, established in 1953 as the first private ocean going shipping carrier in Korea, provides services throughout Asia, with routes targeting Korea to Japan, China, Hong Kong, Vietnam, Thailand and intra-Asia routes. NAMSUNG will offer its customers a full suite of services through INTTRA's network, including shipping instructions, booking requests, shipping orders for North China, Track and Trace, eVGM and Ocean Schedules.

22 Feb 2018

Yang Ming Marine Offers Korea-Vietnam-Thailand Service

Taiwan-based ocean shipping company Yang Ming Marine Transport Corporation announcesdthat it will provide Korea-Vietnam/Thailand service (KVX) as of March 7th, 2018. The calling port rotation of KVX service is: Incheon–Ulsan–Busan–Shekou–Ho Chi Minh–Laem Chabang–Bangkok–Laem Chabang–Ho Chi Minh–Incheon. With the new KVX service and the existing CT2 service, YM will provide customers with more convenient and reliable services between Korea, Vietnam and Thailand. Two months ago, Yang Ming announced a new Asia Subcontinent Express service (Loop Code: AS1), which extends Yang Ming’s coverage of direct service to the trade between North China and Pakistan.

26 Jan 2018

Sea Ice Could Disrupt Shipping in Northern China

A January 26 satellite image shows sea ice in Northern China (Photo: China’s National Marine Environmental Forecasting Center)

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.

10 Jan 2018

Sanchi Collision: A ‘New Bermuda Triangle’?

Seas where Sanchi collision incident has taken place are leading region for maritime accidents. East/South East Asian waters have been identified as the top worldwide hotspot for shipping losses, with 34 ships lost in this region in 2016 alone – 40 percent of all shipping losses globally – according to a report from marine insurer Allianz. Analysis of global shipping losses over the last decade has highlighted East/South East Asian seas as an accident hotspot, with the collision of the oil tanker Sanchi with another ship off the coast of Shanghai as the latest major shipping incident in the region. Sanchi is currently on fire as a result of the collision, with its cargo of condensate raising concerns around the potential for explosion and pollution.

20 Dec 2017

Ocean Alliance Launches Day Two Product

The Ocean Alliance has launched its new Day Two Product with an estimated 3.6 million TEU carrying capacity provided by approximately 340 containerships deployed on 41 services. The new offering will commence in April 2018. Alliance partners CMA CGM, COSCO, Evergreen and OOCL will offer 20 Transpacific services, six Asia-Europe services, four Asia-Mediterranean services, four Transatlantic services, five Asia-Middle East services and two Asia-Red Sea services. “Ocean Alliance has been a fantastic success from a customer perspective since its launch last spring and we are very enthusiastic to announce our Day Two Product,” said Olivier Nivoix, Senior Vice President Ocean Alliance Lines.

13 Jun 2017

Shipping’s ‘Perfect Storm’ is Brewing -Allianz

© Tim Mueller-Zitzke / Adobe Stock

Large shipping losses have declined by 50 percent over the past decade, mostly driven by the development of a more robust safety environment by ship owners, according to Allianz Global Corporate & Specialty SE’s (AGCS) fifth annual Safety & Shipping Review 2017. In 2016 there were 85 total shipping losses reported, down 16 percent from 101 a year earlier. The number of shipping incidents declined slightly year-on-year by 4 percent with 2,611 reported, according to the review, which analyzes reported shipping losses over 100 gross tons.

31 Mar 2017

HMM New Service in North China, Korea and Russia

Hyundai Merchant Marine (HMM) announces the launch of a new North China-Korea-Russia weekly service, under the name of ‘CRN (China Russia North Service)’. The CRN service covers the ports of ‘Qingdao-Shanhai-Ningbo-Pusan-Vladivostok-Vostochny-Pusan-Qingdao’ and will begin on March 31. HMM will deploy one container ship on the route, and FESCO will place two vessels on the route. HMM has been offering CRS (China Russia South Service) services on South China-Middle China-Korea-Russia in cooperation with FESCO and CMA-CGM. From March 30, the CRS service will change its port ration to ‘Hong Kong-Chiwan-Xiamen-Ningbo-Shanghai-Vladivostok-Vostochny-Hong Kong’ to provide a direct service from China to Vladivostok.

19 Jan 2017

Asia Dry Bulk-Capesize Rates to Hold Steady

Brazil-China rates hit 15-month high for second time this year. Freight rates for large capesize dry cargo ships on key Asian routes could hold steady or slip slightly next week after unexpectedly climbing this week on strong cargo volumes, ship brokers said. "It is a case of two oceans. In the Atlantic, Vale has been active from Brazil, and volumes from Saldanha Bay in South Africa are steady," said a Singapore-based capesize broker on Thursday. "In the Pacific, it's a waiting game with owners and charterers haggling over a 50 cent difference in the freight rate," the broker added. This occurred as capesize freight rates on the Brazil-to-China route on Wednesday hit the highest level since September 2015 for the second time this year following a surge in fixtures.

15 Dec 2016

North Asian MR Rates Rise on Strong Winter Demand

© Igor Terekhov / Adobe Stock

The medium range (MR) tanker market in the North Asia has firmed this week, with rates recovering from last month’s lowest levels in 2016 as charterers rushed to fix an influx of fresh cargoes before the holiday season. Rates for the key South Korea-Japan route grew by $20,000 w-o-w to $290,000 while rates for the key South Korea-Singapore route jumped by $75,000 w-o-w to $380,000. Rates for the key Singapore-Japan route basis 30kt were up by w17.5 points w-o-w to w125 points. Robust winter heating demand, increasing Chinese product exports as well as weather delays lent support to MR rates.

03 Aug 2016

Maersk Reroutes Asia - US Service Via Panama

Maersk Line will transform its TP12 service in to a standalone, around-the-world service that provides significantly faster transit times between Far East Asia and the US East Coast. From the Far East to the US East Coast the TP12 service will transit the new Panama Canal locks and call the ports of Newark, Norfolk and Baltimore on the US East Coast. On the return leg to Asia, the TP12 will go through the Suez Canal and call the ports of Salalah (Oman), Colombo (Sri Lanka) and Singapore. This change will significantly improve Maersk Line’s product offering to shippers on the Far East Asia and the US East Coast trade. “We are changing our TP12 service to provide a better product to shippers in Korea, Northern and Eastern China.

14 Jul 2016

Iron Ore Surge Could Boost Asia Bulk Capesize Rates

Freight rates for large capesize dry cargo ships on key Asian routes could rise next week on higher volumes of iron ore cargoes, ship brokers said. "It's a bit more positive, optimistic next week," a Singapore-based capesize broker said on Thursday. Australian iron ore miners BHP Billiton and Fortescue Metals Group, which have largely been absent from the chartering market this week, could step up iron ore shipments on higher iron ore prices, brokers said. "It's only really been Rio Tinto that's been active for much of this week. BHP has taken the odd ship," the Singapore broker said. All the iron ore cargo charters from Australia to China this week were fixed at $4.55 per tonne, signalling a flat market, brokers said.

04 Jul 2016

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. China has repeatedly said it will ignore the verdict despite pressure from the U.S. and its allies to comply.

04 Jun 2016

CMA CGM to Improve its PEX 2 Service Between Asia and the Caribbean

In order to continue offering the best dedicated service from Far East to Mexico, Central America and the Caribbean, CMA CGM is glad to inform its customers about the new rotation of its PEX 2 service. As from m/v CMA CGM NEW JERSEY voy.