China News

21 Jan 2019

China Navigation Buys Bulk Shipping Arm of Hamburg Süd

Pic: Hamburg Süd

German shipping group Hamburg Süd announced that it is selling its bulk shipping business to Singapore’s China Navigation Company (CNCo), part of the Swire Group,  as it focusses on its liner business with its two container shipping brands, Hamburg Süd and Aliança.The agreement includes Hamburg Süd subsidiaries Rudolf A. Oetker (RAO), Furness Withy Chartering and the bulk activities in Aliança Navegação e Logística (Aliabulk).A.P. Møller – Maersk acquired the bulk shipping, tanker…

21 Jan 2019

AsiaPac Oil and Gas Industry Looks Up

Brice Le Gallo, Regional Manager, South East Asia & Australia, DNV GL - Oil & Gas

Confidence in the outlook for Asia Pacific’s oil and gas industry has more than doubled in the past two years, according to new research published by DNV GL, the technical advisor to the oil and gas industry.According to a new research from DNV GL, three quarters (76%) of senior oil and gas professionals in Asia Pacific are optimistic about the industry’s growth in 2019, compared with 58% in 2018 and 30% in 2017. The proportion of industry leaders who are confident in their own organizations’ prospects has also risen from 59% last year to 74% in 2019.

21 Jan 2019

Yang Ming Launches New China-Malaysia Direct Service

Pic: Yang Ming Marine Transport Corp

Taiwanese ocean shipping company Yang Ming Marine Transport Corp. (YM) has announced the launch of CMS service (China-Malaysia service) with effect on February 23rd, 2019 (estimated time of berth from Qingdao).The service is jointly operated by Yang Ming, Gold Star Line Ltd.(GSL), T.S. Lines Co., Ltd (TSL) and CNC, a brand of APL Co. Pte Ltd. Each carrier will deploy a container vessel of nominal 4,250 TEU capacity, said a statement from the marine transportation company.The ports of call are Qingdao…

21 Jan 2019

China’s Oil and Gas Industry to Focus on Environment Impact

Arthur William Stoddart, Regional Manager of Greater China, Korea & Japan, DNV GL - Oil & Gas

China’s oil and gas industry is set to reinforce efforts to reduce environmental impacts of its projects and operationsin 2019, said a research.According to a new research from DNV GL, six in ten (61%) senior oil and gas professionals in China say their organizations are actively preparing for the transition to a lower carbon energy mix compared to 51% globally. Industry leaders’ focus on decarbonization aligns with the Chinese government’s new ‘Blue Sky’ plan to tackle air pollution…

21 Jan 2019

DEUTZ Commits to Renewable Mobility

Photo: DEUTZ

On January 21 and 22, DEUTZ will be attending the 16th International Conference on Renewable Mobility in Berlin, reprising its role as silver sponsor and underlining its commitment to the development of carbon-neutral drive systems. As well as pressing ahead with the electrification of its engine range under the E-DEUTZ strategy, DEUTZ is working hard to make its products compatible with a choice of sustainable fuels that can be used in its products.Running engines without using…

20 Jan 2019

Oakland Port Cargo Volume Hit All-time High in 2018

Pic: Port of Oakland

The Port of Oakland reported a record-setting 2018 in cargo movement, on account of an expected spike in imports aimed at beating new tariffs on goods shipped from China.According to data released by the port, it handled the equivalent of 2.55 million 20-foot containers last year. That was up 5.2 percent from 2017 volume. It was the second straight year of record volume in Oakland, the Port said.According to Port figures, 2018 import cargo volume increased 5 percent while exports declined 3.5 percent.

20 Jan 2019

Oldendorff Sells Three Vessels in in CSL Pool to Algoma

Pic: Oldendorff

The dry bulk operator Oldendorff Carriers sold the three remaining self-unloaders still operating in the CSL Pool for US$100.5 million to Algoma Central Corporation.CSL International Pool is a partnership between Oldendorff Carriers, Marbulk Shipping Inc. and Algoma Shipping Inc.The vessels -Sophie Oldendorff (70,037 tdw built 2000), Harmen Oldendorff (66,188 tdw built 2005) & Alice Oldendorff (50,259 tdw built 2000) -  are expected to deliver to Algoma around the middle of 2019.All…

19 Jan 2019

Algoma Central: Refund Given for Cancelled Ship Contract

Algoma Central Corporation (TSX: ALC), a provider of marine transportation services, announced that it has received full refund of all instalment payments made in connection with the now-cancelled shipbuilding contracts with Uljanik d.d. and 3Maj Shipyard of Croatia.Algoma entered into five shipbuilding contracts with 3Maj Shipyard, an operating unit of Uljanik d.d of Croatia. According to a press release from Algoma, after considerable delay, the first of the five vessels was delivered in 2018; however, Algoma cancelled the remaining four contracts as the shipyard’s financial difficulties led to a much-publicized attempt to refinance the company and shipyard management was unable to put forward a credible plan that would lead to completion of the remaining hulls.

18 Jan 2019

World Seaborne Coal Trade Rose 3.7% in 2018

A bulk carrier loading coal in Port of Gdansk, Poland (© Nightman / Adobe Stock)

World coal seaborne trade grew 3.7 percent last year helped by higher output in India, Indonesia and Russia, Germany's VDKI coal importers lobby said on Friday.Imports and exports rose to 1.202 billion tonnes from 1.159 billion tonnes in 2017, VDKI Managing Director Franz-Josef Wodopia said in an speech made available to Reuters.Of the total, trade in steam coal used in power stations rose by 3.6 percent to 920 million tonnes.Trade in coking coal used for steelmaking rose by 4.4 percent to 281 million tonnes…

18 Jan 2019

LNG REPORT: LNG Bunkering Vessels Rise to Nine, 30 More to Come

Image: SEA\LNG

The liquefied natural gas (LNG) bunkering infrastructure is expanding globally and there are increasing numbers of LNG-bunker vessels which are encouraging other operators to adopt LNG.According to SEA\LNG,  the multi-sector industry coalition aiming to accelerate the widespread adoption of liquefied natural gas (LNG) as a marine fuel, from limited availability at select ports, LNG bunkering has grown to encompass 24 out of the world’s top 25 and all but one of the top ten bunker…

17 Jan 2019

Partners Extend Ocean Alliance to 2027

(Photo courtesy CMA CGM)

Partners in the world’s largest operational agreement between shipping companies have agreed to extend their alliance until 2027.The Ocean Alliance, consisting of CMA CGM Group, COSO SHIPPING, Evergreen and OOCL, was launched in 2017 for an initial period of five years with an option for a five-year renewal.The partners confirmed they will extend to the alliance's full 10-year duration, during a signing ceremony in Hainan, China on Thursday.Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group…

17 Jan 2019

SHIPBUILDING: China-built Ferry for ​Stena Line ‘Floats’

Photo: Stena Line

Stena Line has achieved a milestone in its fleet investment program with the launching ceremony of the first of its next generation of RoPax vessel taking place at the Avic Weihai Shipyard in China. The first new vessel will be named Stena Estrid* and she took to the water for the first time on January 16, 2019, and is on schedule to enter service on the Dublin to Holyhead route in early 2020, the first of three new E-Flexer vessels bound for the Irish Sea by 2021. All three vessels…

17 Jan 2019

Troubled Shipbuilder Uljanik Draws Investor Interest

© lexlero / Adobe Stock

Croatia's largest shipbuilder Uljanik, which is trying to attract investors to stay afloat, extended a due diligence process until late next week after drawing the interest of potential strategic partners.Croatia's Economy Minister Darko Horvat said four potential investors were looking at Uljanik's business data and another company was also interested, but did not elaborate."I expect at least two serious offers for Uljanik at the end of this process which would then prevent its bankruptcy…

16 Jan 2019

WFW Advises CCBL on Sale, Leaseback of Two VLCCs

Pic: Almi Tankers S.A

The international law firm based in London Watson Farley & Williams (WFW) has advised CCB Financial Leasing Co., Ltd. (CCBL) on a US$132.8m sale and leaseback transaction of two tanker vessels (VLCC) acquired from and chartered back to two subsidiaries of Globe Shipholding S.A.Globe Shipholding is maintaining a fleet of crude carrier tankers managed by Almi Tankers S.A..CCBL’s transaction with Globe represents the first completed sale and leaseback of VLCCs in the Chinese leasing community.

16 Jan 2019

PORTS: Busiest U.S. Port Set Cargo Records

© ake1150/AdobeStock

The Ports of Los Angeles and Long Beach on Wednesday said they set all-time records for moving cargo in 2018, after U.S. retailers and manufacturers pulled forward imports to avoid higher tariffs on Chinese goods.The Port of Los Angeles, North America's busiest container port, handled 9.46 million 20-foot equivalent units (TEUs) last year, the most in its 111-year history and 1.2 percent more than in 2017.The neighboring Port of Long Beach processed more than 8 million TEUs for the first time last year…

16 Jan 2019

CNOOC Storing LNG Offshore

© Juan Calcedo / Adobe Stock

China's state-owned CNOOC is temporarily storing liquefied natural gas (LNG) in a tanker off South Korea as a warmer than usual winter cuts expected spot demand for the fuel, industry sources said on Wednesday.China faced a severe winter gas shortage last year after switching millions of households to natural gas from coal for heating, prompting Chinese companies this winter to secure supply well ahead of time, they said.However, the winter so far has been relatively mild and weather data from Refinitiv Eikon largely points towards warmer than usual temperatures ahead…

16 Jan 2019

Ship Fuel: Singapore Bunker Volumes Dip, 2019 Uncertain

© stockphoto mania/AdobeStock

Sales of marine fuels in Singapore, the world's biggest ship fueling port by volume, totaled 49.8 million tonnes in 2018, down 2 percentfrom a record the year before, the Maritime and Port Authority of Singapore (MPA) said on Monday.December sales volumes of marine fuels, also known as bunkers, reached an 11-month high of 4.308 million tonnes, up 10 percent from November and the second-highest for the year, the data showed.The strong month helped lift Singapore's 2018 marine fuel sales figures to the second highest on record…

15 Jan 2019

Taiwan's Evergreen Opens Four New Offices in Latin America

File Image: Evergreen Marine Corp

Taiwanese container transportation and shipping company  Evergreen Marine Corp. is expanding its operations into Central and South America this year following the recent opening of four new agency offices in the region."In view of the growth potential in Latin American trade, Evergreen Line is continuing to establish its own offices at main service locations in the region. The move will strengthen the effectiveness of the line’s operations, improve its capability to react to market opportunities…

15 Jan 2019

First U.S. Crude Cargoes Head to China Since Trade Breakthrough

The U.S. Gulf Coast port of Corpus Christi has evolved into the nation's most active crude export complex. CREDIT: Port of Corpus Christi, Texas

Three cargoes of U.S. crude are heading to China from the U.S. Gulf Coast, trade sources said on Monday, the first departures since late September and a 90-day pause in the two countries' trade war that began last month.The vessels left Galveston, Texas, last month and are scheduled to arrive at Chinese ports between late January and early March, according to shipbrokers and vessel tracking data. The shipments mark a change since Chinese buyers largely began avoiding U.S. oil during the trade dispute that flared last summer."It looks like China has resumed purchasing U.S.

15 Jan 2019

Offshore Wind Market Expected to Reach $50 bln by 2023

Image: Siemens

The global offshore wind energy market is poised to grow over USD 49.74 billion by 2023 at an estimated CAGR of around 11.12% during the period 2017 to 2023.The growth in this sector can be attributed to the increasing demand for clean and reliable energy in order to reduce the global carbon emissions and to maintain ecological balance by generating electricity through renewable resources, said a report by Market Research Future.However, high initiating capital cost of the projects with high maintenance cost and logistics issues, can hinder the offshore wind market.

14 Jan 2019

Drewry Predicts Better Freight Rates and Profits

File Photo: Hyundai Merchant Marine Co

The shipping industry’s supply-demand balance will benefit from a reduced appetite for Ultra Large Container Vessels (ULCVs) among the major carriers, some of which now have their eyes fixed on a bigger prize of becoming global logistics integrators, said Drewry.Simon Heaney, senior manager, container research at Drewry and editor of the Container Forecaster said: "Aside from feeder ship replenishment, there has been no reaction from other lines to Hyundai Merchant Marine (HMM)’s…

14 Jan 2019

BIMCO: US Box Imports Break Records Despite Uncertainty Ahead

Peter Sand, BIMCO’s Chief Shipping Analyst

Container imports on both the US East Coast (USEC) and West Coast (USWC) had a strong year in 2018, growing 3.7% and 8% respectively in the first 11 months of the year compared to the same period in 2017.Record high levels of inbound laden containers were experienced on both coasts in October with the USWC at 1.09 million TEU and the USEC at 0.91 million TEU according to BIMCO’s own data.The first two months of 2018 saw the USWC coast’s laden imports increase 11.7% from the start of 2017, with the accumulated growth rate then stabilising to around 4% for the rest of the year.

14 Jan 2019

Crude & Fuel Outlook: Fund Managers Neutral

© MiaStendal/AdobeStock

Hedge fund managers show signs of having completed their recent sale of crude and refined fuels, with positions edging up slightly in the first week of the new year, amid hopes a recession can be averted.Oil prices have bounced off their recent lows, the U.S. dollar has weakened against most other major currencies and expectations of a trade deal between the United States and China are rising.Portfolio managers raised their net long position in ICE Brent crude futures and options by 6 million barrels to 158 million barrels in the week to Jan.

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