Maritime 'Silk Road' Between China, Middle East & Africa

Press Release
Monday, April 16, 2012

HSBC reminds UAE forum of growing importance of MENA (Middle East, North Africa) & China trading corridors

Trade corridors between China and the MENA region carry huge economic growth potential for businesses, offering the greatest prospects in the commodity and energy sectors said HSBC at its Middle East and North Africa (MENA) and China Forum recently held in the UAE. Emphasising the growth of China as a trading powerhouse, HSBC added that China is poised to become the world's largest trading nation by 2016 and will account for 12.3% of world trade by 2026.

Outlining the importance of trade relations between China and the MENA region, His Excellency Sheik Nahayan Mabarak Al-Nahayan, UAE Miniister said of the event: "A maritime, aerial, and electronic Silk Road extends between China and the Middle East and North Africa."

An HSBC Trade Connections report, also highlighted that China is currently the MENA region's second largest trading partner after the USA. Three out of five of China's overall top emerging importers are oil importers from within the MENA region: Qatar, Bahrain and Egypt. Each is forecast to grow above 14.00% annually over the next 5 years to 2016.

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Specialised Reefer Container Operators can Thrive: DMR

Despite growing competition from container lines, specialised reefer operators can still thrive, according to Drewry’s latest Reefer Shipping Market Annual Review & Forecast,

HERCULES-2 Phoenix Rises from the Ashes

Wärtsilä Corporation advises that the HERCULES R&D programme to develop large engine technologies, which was initiated in 2004 as a joint vision by the two major European engine manufacturing groups,

Short-Term Perils of Lower Oil Prices: DW Monday

At present we are seeing lower oil prices as a function of softer demand growth in both Europe and China combined with recent output increases from OPEC, particularly Libya,

Tanker Trends

Ingram Barge Order 20 Tank Barges for 2015

Ingram Barge Company say they will be building 20 tank barges in 2015 to meet growing demand for chemical shipments. While most of the company’s recent tank barges have come through acquisitions,

Finland Grants Support to Three Small LNG Terminals

The Finnish government granted 65.2 million euros (84.22 million US dollar) in subsidies to build three small liquefied natural gas (LNG) terminals to cut on use

Senator Says 2015 Could Be Time for US Oil Export Bill

The top supporter in the U.S. Congress for reversing the 40-year ban on crude oil exports, Senator Lisa Murkowski from Alaska, said next year could be the time for a bill on lifting the restriction.

Ports

BMW Opens Vehicle Distribution Center at Baltimore Port

BMW Group celebrated the official opening of its newest Vehicle Distribution Center at the Port of Baltimore yesterday. The facility will serve 96 dealers within

Rotterdam Integrates Safety Research with LNG Training Facility

The Dutch company Falck Risc is becoming the number one expert on LNG safety in Europe. Together with the Unified Fire Department, Falck Risc will draw up guidelines

Antwerp Port Seeks Inputs on Setting-up LNG bunkering

By the beginning of 2016 the port of Antwerp will have an LNG bunkering and filling station for barges. The procedure for construction of the station is currently under way.

Energy

MHPS's DeNOx System For Power Plant in Poland

Mitsubishi Hitachi Power Systems (MHPS) has received an order from ENEA Wytwarzanie S.A., a power producer in Poland, for two sets of selective catalytic reduction

Voith Hydropower Equipment for Thailand's Storage Plant

Voith has been awarded a new contract to supply the complete electromechanical equipment for a pumped storage power plant in Thailand. The order for the extension

Navy, Other Agencies, Award Bio-refinery Contracts to 3 Firms

As part of a 2011 Presidential directive, the Departments of Navy, Energy, and Agriculture have announced that three companies have been awarded contracts to construct

Container Ships

Specialised Reefer Container Operators can Thrive: DMR

Despite growing competition from container lines, specialised reefer operators can still thrive, according to Drewry’s latest Reefer Shipping Market Annual Review & Forecast,

Chevron To Find Buyers for Hawaiian Refinery

Chevron Corp has hired an investment bank to identify potential buyers of its 54,000 barrel-a-day refinery in Kapolei on the Hawaiian island of Oahu, a company official said.

South Carolina Ports Container Volume Up by 13%

SC Ports Authority reported container volumes up 13 percent fiscal year to date, a strong start to the first two months of the fiscal calendar. The SCPA handled 163,

Logistics

Specialised Reefer Container Operators can Thrive: DMR

Despite growing competition from container lines, specialised reefer operators can still thrive, according to Drewry’s latest Reefer Shipping Market Annual Review & Forecast,

BMW Opens Vehicle Distribution Center at Baltimore Port

BMW Group celebrated the official opening of its newest Vehicle Distribution Center at the Port of Baltimore yesterday. The facility will serve 96 dealers within

Tropical Storm Polo Threatens Battered Mexican Resort of Los Cabos

Tropical storm Polo barreled nearer on Friday to the Mexican Pacific resort of Los Cabos where thousands of troops were restoring order following widespread

 
 
Maritime Careers / Shipboard Positions Maritime Standards Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2557 sec (4 req/sec)