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Shanghai Port News

12 Jun 2023

Maersk Secures Fuel for First Methanol Containership Journey

(Image: Maersk)

Denmark's Maersk said on Monday it has secured fuel for the first container vessel able to run on carbon-neutral methanol on its inaugural journey, from South Korea to Denmark.The 21,500 km long summer trip from Ulsan to Copenhagen will be fuelled by bio-methanol fuel produced from biogas captured from decomposing organic landfill waste. This will be delivered from a U.S. plant by Dutch company OCI Global."The green methanol market is still in its infancy and frankly we had not expected to be able to secure a maiden voyage on green methanol for this vessel…

24 Mar 2023

Maersk Teams Up with Shanghai Port on Green Methanol Shipping Fuel

(Image: A.P. Moller - Maersk)

Maersk and Shanghai International Port Group have signed a memorandum of understanding for a green methanol marine fuel project in the Shanghai port, the shipping group said on Friday.Maersk plans to put 19 vessels capable of running on e-methanol between 2023 and 2025 as part of its net-zero emissions target by 2040.Shanghai International Port Group, the operator of the world's busiest container port, said it aims to become one of the worlds first commercial green methanol refueling points and a regional green methanol fuel bunkering center.(Photo: A.P.

13 Jul 2022

China's Exports Rebound, But Global Risks Darken Trade Outlook

© Aris Suwanmalee / Adobe Stock

China's exports rose at the fastest pace in five months in June as factories revved up after the lifting of COVID lockowns, but a sharp slowdown in imports, fresh virus flare-ups and a darkening global outlook pointed to a bumpy road ahead for the economy.Analysts say the rebound in exports reflected an easing of supply chain disruptions and port congestion that hammered the world's second-largest economy in spring when the government rolled out widespread lockdowns.Outbound shipments in June rose 17.9% from a year earlier…

25 May 2022

World’s Biggest Port is Returning to Normal, but Supply Chains Will Get Worse Before They Get Better

Credit: evening_tao

Shanghai is slowly emerging from a grueling COVID lockdown that has all but immobilized the city since March. Although Shanghai’s port, which handles one-fifth of China’s shipping volumes, has been operating throughout, it has been running at severely reduced capacity. Many shipments have either been canceled, postponed, or rerouted to other Chinese mega-ports such as Ningbo-Zhousan.With the city due to fully reopen on June 1, the port is going to be in overdrive as manufacturers try to fulfil backlogs, with serious knock-on effects around the world.

17 Aug 2021

Chinese Ports Choke Over 'Zero Tolerance' COVID-19 Policy

© NicoElNino / Adobe Stock

Several Chinese ports are facing congestion as vessels due to call at Ningbo are being diverted and cargo processing is slowed partly due to stricter disinfection measures under China's "zero-tolerance" coronavirus policy.On Tuesday, more than 50 container vessels were queuing at Ningbo port, China's second largest marine center, Refinitiv data showed, up from 28 on Aug. 10 when a COVID-19 case was reported at one of its terminals.Leading international shipping groups have warned their clients of delays and route adjustments.

13 Aug 2021

Port, Shipping Firms Divert Vessels After a Ningbo Terminal Shuts

© tawatchai1990 / Adobe Stock

Ports and shipping companies are diverting vessels from a container terminal in China's busiest marine transportation hub which was forced to close after a coronavirus case emerged, as the pandemic strains global supply amid rising retail orders.Meidong container terminal in eastern Ningbo suspended operations on Wednesday after a COVID-19 case was detected, while nearby Shanghai also recorded the worst congestion in at least three years.On Friday, 37 vessels were waiting to call at Ningbo and 26 vessels queuing for Shanghai…

07 Aug 2019

Shanghai Ports Tops in Connectivity

The Shanghai port has topped UNCTAD’s 2019 ranking of the world’s best-connected ports, released yesterday (7 August).The Chinese port garnered a connectivity score of 134 points, followed by the ports of Singapore (124.63 points), Pusan (114.45 points) in Korea and Ningbo (114.35 points), also in China. The index is set at 100 for the best-connected port in 2006, which was Hong Kong, China.Besides the Asian ports, the other ports on the top 10 list are those of Antwerp (94 points) in Belgium and Rotterdam (93 points) in the Netherlands. None of the ports in the top 20 list are from Africa, Latin America, North America or Australasia.“A container port’s performance is a critical factor that can determine transport costs and…

16 Dec 2018

Shanghai Port Awards Shipping Safety Contract to Saab

Saab has received an order from the China Maritime Safety Administration to renew and extend the Vessel Traffic Management Information System (VTMIS) in Shanghai, improving the safety and efficiency of shipping in the world's largest container portThe project will take 18 months to complete, and includes the replacement of most of the existing radar and communications systems, two traffic centres and the delivery of a new supervisory centre."Saab's expertise in upgrading complex existing systems with minimal operational disturbance was a key consideration for the China Maritime Safety Adminstration. With a daily import and export of 3 billion dollars' worth of goods…

09 Jan 2018

Wan Hai Lines Unveils China-India Service

Taiwan's global shipping company Wan Hai Lines has announced the launch of China – India Service III “CI3 service” on 23 January 2018. This new service will help to expand Wan Hai Lines network by providing direct service from East China to East India. A press release from the company said that the service will also help to complement Wan Hai Lines existing two other East India services with better port coverage and frequency. This service will be jointly operated with COSCO, IAL, OOCL and X-Press Feeders by using 5 vessels with nominal capacity of 4,250 TEU. Wan Hai Lines will deploy 2 vessels, while COSCO and IAL will operate 1 vessel each, OOCL and X-Press Feeders will operate 1 vessel jointly.

01 Jan 2018

Shanghai Port Sets New World Record

The annual handling capacity of Shanghai Port surpassed 40 million TEUs (twenty-foot equivalent units), breaking an existing world record, the Chinese state media reported. Xinhua quoted the Shanghai International Port Group saying that Shanghai Port started container transportation in 1978 with a handling capacity of 7,951 TEUs that year. As one of China's largest ports, its  throughput exceeded 30 million TEUs in 2011. In December 2017, Shanghai Yangshan Deep Water Port, the world's biggest automated container terminal, started trial operations. The project uses automated handling equipment designed and manufactured in China, as well as a domestically developed automated management system.

19 Nov 2017

Moody's on Shanghai Port Tariff Cut

Moody's Investors Service says that the announcement by China's National Development and Reform Commission (NDRC) of a cut in the handling tariff for import and export containers is credit negative for Shanghai International Port (Group) Co., Ltd (SIPG), but will not immediately affect SIPG's A1 issuer rating or the A2 backed senior unsecured bond ratings of Shanghai Port Group (BVI) Holding Co., Ltd. The ratings outlook remains stable. "The reduction in tariff will negatively impact SIPG's profitability and cash flow generation capability from 2018 onwards, and reduce the financial headroom for its standalone credit profile," says Osbert Tang, a Moody's Vice President and Senior Analyst, and the Local Market Analyst for SIPG.

09 Jul 2017

COSCO to Buy OOCL for USD 6.3 bln

Chinese Shipping Major Cosco Group has agreed in principle to buy its shipping rival and  Hong Kong’s No. 1 box mover, Orient Overseas Container Line (OOCL), in deal that could be valued around USD 6.3 billion. The takeover will catapult Cosco the world’s third-biggest container carrier after Denmark’s Maersk Line and Swiss-based Mediterranean Shipping Co. In a press release, the State-owned Cosco said that it will pay shareholders of OOCL,, HK$78.67 a share in cash, a 31 percent premium over the stock’s last closing price. According to Reuters,  OOIL's controlling shareholders had on Friday agreed to sell their 68.7 percent stake at that price to COSCO Shipping, which is making the offer with Shanghai Port International Group (SIPG) that will take 9.9 percent, they said.

12 Jun 2017

Piraeus Port Signs MoU with Shanghai Port

The Cosco-managed Piraeus Port Authority (OLP) and Shanghai International Port Group, the world's biggest commercial port, signed a Memorandum of Understanding (MOU) envisioning cooperation in infrastructure studies, personnel training, information exchange and technical assistance. The MOU was signed by Athanasios Liagkos Executive Management Consultant & BoD member of the PPA SA and the Chairman of Shanghai International Port Group, Chen Xuyuan. This development further highlights Piraeus's strategic position on the world map and especially on the New Silk road. The sectors of cooperation mentioned in the Memorandum are: Project Studies, Staff Training, Information Exchange, Technical Assistance, etc.

12 Jun 2017

Chinese, Greek Ports Teams Up to Boost Container Traffic

© chungking / Adobe Stock

Piraeus Port, operator of Greece's biggest port and majority-owned by China's COSCO Shipping, has agreed to team up with the operator of Shanghai port, the world's largest container port, to promote container shipping traffic. Piraeus, COSCO Shipping and Shanghai International Port Group (SIPG) have agreed to cooperate in project planning, staff training and information exchange, Piraeus said in a statement on Monday. It said the agreement would create synergies to boost trade and create new business opportunities.

25 Jan 2017

Container lines earned $42 less per TEU

The container shipping lines received an average rate 7% (USD 42) lower in 2016 than in 2015, if they operated in the spot market on all Shanghai Containerized Freight Index (SCFI) trade routes. This has primarily been due to the devastating low rates received in the first half of 2016, as the average rate received in H2 2016 was 22% higher than the rate received in H2 2015. The freight rates managed to gain momentum through second half of 2016, due to measures taken from the shipping lines in terms of network optimisation, scrapping and more careful deployment around the peak season. As the freight rates increased through second half of 2016…

12 Jan 2017

China Adds More Ports to Its Low Sulphur ECAs

© William Messing / Adobe Stock

China has expanded its Emission Control Area (ECA) regulations to include ships berthing at six additional ports, bringing the total number of key ports in the country’s ECA to 11. With the new rules, effective from January 1, 2017, China is now requiring ships to burn bunker fuel with a maximum sulphur content of 0.5 percent when berthing at six additional key ports: Guangzhou, Huanghua, Qinhuangdao, Tangshan, Tianjin and Zhuhai, extending from five ports that have implemented the regulation in 2016.

26 Sep 2016

On the Majestic Maersk, mega-ship dreams obscure cloudy future

For Captain Dick S. Danielsen, the childhood dream has been to sail the world's biggest ships. The Danish seaman got his chance three years ago when he was asked to helm the Majestic Maersk, a mammoth, baby blue-painted vessel that at 400 meters (1,312 feet) is longer than a nuclear-powered aircraft carrier. The ship can hold up to 18,270 twenty-foot (TEU) shipping containers and is owned by the world's largest container shipping firm, A.P. Moller-Maersk. "If you're going to be a captain and the company asks you, do you want to be on our biggest ship in the fleet, everybody would be proud. If they don't, then I think they're lying," he told Reuters from his ship during a 24 hour-long stop in Shanghai's port last Saturday.

22 Sep 2016

China COSCO Shipping Not to Hike Freight Rates

China COSCO Shipping will not raise its shipping prices as it had planned, reports Caixin quoting shipping agency representatives at Shanghai’s port. The shipping giant has given up its plan to take advantage of Hanjin Shipping’s bankruptcy by raising prices after a surge of international cargo prices turned out to be temporary, says the report. The shipping market witnessed a spike in prices in the first few days after Hanjin filed for court receivership on Aug. 31. One container shipped from China to the western coast of the United States, for instance, cost about $695 shortly before Hanjin filed for receivership. But on Sept. 2, the price jumped to $949, an increase of nearly 40 percent.

05 Feb 2016

China to Enforce Low Sulphur ECA in Yangtze River Delta

Photo: China MSA

Vessels calling ports in China’s Yangtze River Delta, including Shanghai, will be required to burn low sulphur fuel while at berth from April 1 this year. China’s Ministry of Transport announced in December last year plans to set up three ECAs: the Pearl River Delta, Yangtze River Delta and Bohai-rim waters. The Yangtze River Delta is the first of the three major port areas to make a 0.5 percent ECA compulsory, to be enforced in Yangtze River core ports: Shanghai port, Zhoushan port…

14 Jan 2016

Singapore: New Bunker Sales Record, Container Throughput Falls

Singapore’s maritime industry had a mixed performance in 2015. While the Republic remained the world’s top bunkering port, with the volume of bunkers sold last year increasing by 6.5 per cent, container and cargo throughput contracted by 8.7 per cent and 1.1 per cent respectively. Singapore remained the world's top bunkering port with a 6.5 per cent increase in volume of bunkers sold. According to statistics released by the Maritime and Port Authority of Singapore (MPA), container throughput contracted by 8.7 per cent to 30.9 million TEUs (20-foot equivalent units) in 2015 over 2014. Container throughput and cargo throughput, however, contracted by 8.7 and 1.1 per cent respectively.

11 Jan 2016

Shanghai Port Profit Falls; First Drop in Four Years

Shanghai International Port Group Co Ltd, the operator of the world's busiest container port, posted a 4 percent fall in its 2015 preliminary net profit, marking the first decline since 2011 as China's economy slows. Shanghai Port, whose container throughput totalled 36.5 million TEU (twenty-foot-equivalent units) in 2015, reported a preliminary net profit of 6.5 billion yuan ($989.35 million) in 2015, down from 6.8 billion yuan a year earlier, it said in an exchange filing on Monday. The port is expected to post its final annual results with outlook comments in March. The last time it logged a profit fall was in 2011, when net profit was down 12.8 percent, according company data posted on Eikon.

29 Oct 2015

Shanghai Port Logs Quarterly Profit Fall

Shanghai International Port Group Co Ltd, the operator of the world's busiest container port, reported its first fall in quarterly net profit in over a year, providing evidence of China's economic slowdown. China, the world's second largest economy, grew 6.9 percent in the third quarter, dipping below 7 percent for the first time since the global financial crisis due to cooling trade and investments. Shanghai Port recorded a third quarter net profit of 1.4 billion yuan ($220.29 million), down 18.3 percent from the same period a year earlier, it said in a filing on the Shanghai stock exchange. That marked the first decline since the second quarter of 2014, Eikon data based on company data showed. In the first nine months, Shanghai Port's net profit dropped 3.3 percent to 4.5 billion yuan.

05 Aug 2015

Taiwan’s Evergreen Resume Traffic in Iran's Shahid Rajaee Port

Taiwan’s Evergreen Marine Corp. has authorized one of its huge container ships to berth at Shahid Rajaei port in southern Iranian province of Hormozgan, reports Press TV. Ebrahim Idani, director general of Hormozgan Ports and Maritime Department, was quoted by Iranian media as saying on Tuesday that the fifth-generation container ship, Ever Legion, has started its journey from China’s Shanghai port and will call at various ports in Hong Kong, Taiwan, Malaysia, Sri Lanka, and the United Arab Emirates’ Jebel Ali Free Zone before berthing at Shahid Rajaei port, which is Iran's biggest container port. The official noted that the Taiwanese ship is 335 meters long with a draft of 14.5 meters and is scheduled to arrive at Shahid Rajaei port on August 5.