Marine Link
Friday, March 29, 2024
SUBSCRIBE

Shanxi News

19 Jul 2023

Demand for Larger Dry Bulk Vessels Wanes

© Antony / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for a fourth straight session on Wednesday, pressured by lower rates for larger capesize and panamax vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell by 33 points, or 3.2%, to 1,004.The capesize index went down by 61 points, or 4%, to its lowest level in near six-week at 1,468.Average daily earnings for capesizes…

11 Oct 2021

Baltic Index Falls, Capesizes Hold Near 13-year High

© arikbintang / Adobe Stock

The Baltic Exchange's dry bulk sea freight index slipped on Monday, as a decline in capesize rates offset gains in smaller vessel segments, although the main index held close to a 13-year high.The overall index, which factors in rates for capesize, panamax, supramax and handysize vessels, fell for a second straight session, by 38 points or 0.7%, to 5,488. The index hit its highest in more than 13 years, at 5,650 points, on Oct. 7.The capesize index shed 137 points, or 1.4%, to 9,975, but held close to its highest since 2008.

10 May 2019

Natural Gas Consumption Up 10% in China

According to the preliminary estimate, the consumption of natural gas in China exceeded 27 million cubic meters in 2018, registering a YOY increase of more than 10%, said a report.The growing Chinese economy and stricter environmental protection policies drive the growth of natural gas consumption in China. In 2018, the Chinese government introduced several environmental protection policies to further prevent and control atmospheric pollution and replace coal with natural gas in key areas, which pushed up natural gas consumption in China.The market survey by ResearchAndMarkets shows that in 2018, the consumption of natural gas for power generation…

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…

31 Dec 2016

China coal province to Cut pollution by 20 pct by 2020

One of China's top coal-producing provinces has vowed to slash its level of fine particle pollution by one-fifth by 2020, the official Xinhua news agency reported on Saturday, citing the provincial government. China has adopted various measures from policing barbeques to halting industrial production in efforts to ease the yearly winter haze that hit the country earlier this month leaving cities veiled in foul-smelling smog. China's northern Shanxi province aims to increase the proportion of days per year with good air quality to 75.4 percent, the agency said. The move comes after concentrations of PM2.5, fine particulate matter, in a major northern Chinese city exceeded a World Health Organisation guideline by 100 times in December.

12 Aug 2016

China Launches Maritime Satellite

China’s Academy of Space Technology in Beijing has launched a new high-tech satellite, called the Gaofen 3 high-resolution Earth observation satellite, which has been designed to protect its maritime interests, as well as warn of natural disasters, according to China Daily. The satellite was delivered by a Long March 4C rocket that blasted off from the Taiyuan Satellite Launch Center in Shanxi province. "The satellite will play an important role in monitoring the marine environment, islands and reefs, and ships and oil rigs," the official China Daily newspaper said, citing project leader Xu Fuxiang. "Satellites like the Gaofen-3 will be very useful in safeguarding the country's maritime rights and interests," he added, according to the newspaper.

06 Aug 2014

StanChart Takes Provision for Suspected Qingdao Fraud

Standard Chartered Plc said its $175 million provision to cover its exposure to suspected commodities fraud in China was the result of a conservative view of possible costs but didn't believe there were widespread problems in the sector. Chinese authorities launched an investigation in May into whether metals trading firm Decheng Mining and related companies used fake warehouse receipts at Qingdao Port to obtain multiple loans secured against a single cargo of metal. "We believe that in the provisioning we have taken we have taken a very conservative approach. Our exposure in the warehouses around Qingdao is around $250 million in total," StanChart Chief Executive Peter Sands told reporters on a call on Wednesday after the London-based bank announced first-half results.

01 Aug 2014

Citigroup Seeks British Court Backing on China Metals Claims

Citigroup Inc said on Friday it has started proceedings in commercial court in London to enforce its rights over $285 million of financing at two ports in China, where metals are believed to have gone missing. Citigroup said it initiated the action on July 22 after a business counterparty and a Chinese warehouse provider commenced action in British courts to establish their rights. Citigroup's disclosure, made in a quarterly financial filing with the U.S. Securities and Exchange Commission, did not name the counterparty or the warehouse operator. Standard Chartered, China's CITIC Resources Holdings Ltd, Shanxi Coal International Energy Group and other firms have also made legal claims over metals financing since May.

08 Jul 2014

CITIC Starts Court Proceedings Against Qingdao Port Operator

China's CITIC Resources Holdings Ltd has begun court proceedings against the operator of a bonded warehouse at Quindao port as legal action ramps up following an investigation into metals financing fraud at the world's seventh busiest port. CITIC Resources said last month it had been unable to secure around 120,000 tonnes of alumina, more than half of the alumina stocks it had title to that were stored at the port pending payment by buyers and delivery. Under the legal action, CITIC is requiring the port operator to confirm its ownership of 223,270 tonnes of alumina and 7,486 tonnes of copper, and to release the metal to the group or to offer compensation, it said in a filing to the Hong Kong stock exchange on Tuesday.

23 Aug 2012

Damen Delivers Cutter Suction Dredger 450 ‘Fen He’

Spud and cutter ladder loaded on truck for transport to Rotterdam

A Damen CSD450 dredger was shipped within 3 weeks from receipt of the order. The environmental cutter suction dredger is right now on its way to Taiyaun, China, where it will arrive well in time to assist in fighting the sedimentation problem of the Fen river. The CSD450 dredger will be called ‘Fen He’, which means “River Fen” in Chinese. It will be based in Taiyuan in the Shanxi province in northern China. There, the river Fen leaves the mountains and flows through the city. The river carries a lot of sediment from the mountains and deposits its load around Taiyuan.

14 Sep 2010

Tognum, Norinco Opens Engine, Genset Facility in China

Photo courtesy Tognum AG

Tognum, the specialist for propulsion and power solutions, and China North Industries Group Corporation (Norinco) have held a ceremony in the Chinese city of Datong to mark the opening of a joint undertaking involving the assembly of large, high-speed MTU diesel engines and emergency standby gensets. Datong is located around 300 kilometers west of Beijing in Shanxi Province. Tognum subsidiary MTU Asia Pte. Ltd. and the Norinco Group Company Shanxi Diesel Engine Industry Corporation (SDEIC) are jointventure partners. SDEIC has been manufacturing MTU engines under license since 1986.