BIMCO: Trade War may change Soya Bean Trade Lanes
Soya bean trade lanes may change due to the ongoing trade war. The shipping of soya beans from the US to China is one of the most significant ‘one commodity’ cargoes that may become affected by the trade war between the US and China. Soya bean trade lanes will be affected if the Chinese buyers shy away their traditional suppliers because of the extra cost from the proposed tariff on US soya beans. A move that may favour Brazilian ones further, which also hold a higher protein content.
Intellian Opens in China
Intellian, a provider of satellite communication antenna systems, announced that it has established a Chinese corporation subsidiary in Shanghai and officially started operations there to better meet local customer demand. Intellian provides products and technical support to partner companies on every continent of the world through its 10 subsidiaries based in the U.S., U.K., Netherlands, Singapore and other regions. And now it has launched an additional full-scale operating subsidiary in Shanghai…
Ships Carrying US Sorghum U-turn after China Tariffs
Several ships carrying cargoes of sorghum from the United States to China have changed course since Beijing slapped hefty anti-dumping deposits on U.S. imports of the grain, trade sources and a Reuters analysis of export and shipping data showed.Sorghum is a niche animal feed and a tiny slice of the billions of dollars in exports at stake in the trade dispute between the world's two largest economies, which threatens to disrupt the flow of everything from steel to electronics.The supply-chain pain felt by sorghum suppliers on the Pacific…
Japan, China Agree Trade War Will Harm Global Economy
Japan and China agree that a trade war will have serious consequences for the world economy, Japanese Foreign Minister Taro Kono said on Monday after a high-level economic dialogue between the world's third- and second-largest economies. Concern is growing about a trade row between China and the United States in which the two nations have threatened each other with tariffs. Japan has been criticised by U.S. President Donald Trump on trade and been hit with tariffs on steel and aluminum, but it has not yet threatened counter-tariffs.
EU Suspects Tax Fraud at China's New Gateway to Europe
European Union and Italian authorities are investigating suspected wide-scale tax fraud by Chinese criminal gangs importing goods via Greece’s largest port of Piraeus, a trade gateway between China and Europe, officials said.“The VAT is completely evaded, with enormous damage to the national tax authorities and to the community,” Fabio Botto, of the Italian Central Anti-fraud Office’s special investigative unit, said in an interview.He said the suspected scam at Piraeus, part of China’s vast Belt and Road infrastructure project…
China: Media Ignores Other Claimants' S.China Sea Weaponry
China on Wednesday complained the media were ignoring radars and weapons deployed by other claimants in the South China Sea, and unfairly targeting China, following reports of its deployment of fighter jets and radars in the disputed waterway. Over the past week or so China has been reported to have deployed advanced missiles, fighters and radar equipment on islands in the South China Sea, especially on Woody Island in the Paracels. Chinese Foreign Ministry spokeswoman Hua Chunying reiterated that as far as China was concerned, there was no dispute over ownership of the Paracels, and so China could deploy what it wanted on its territory without reproach.
China to Set up Hainan Free Trade Zone by 2020, Port by 2025
China aims to establish a free trade zone in Hainan by 2020 and will encourage multinationals to set up their international and regional headquarters in the province, state news agency Xinhua reported citing a government document. The guidance was jointly issued by the ruling Communist Party and State Council, Xinhua said. It comes after President Xi Jinping announced on Friday that the country would grant foreign firms greater economic freedom in the southernmost province. Known for its sandy beaches and resort-lined coast…
After China's Massive Drill, U.S. Patrols Disputed South China Sea
In a span of 20 minutes, 20 F-18 fighter jets took off and landed on the USS Theodore Roosevelt aircraft carrier, in a powerful display of military precision and efficiency. The nuclear-powered warship, leading a carrier strike group, was conducting what the U.S. military called routine training in the disputed South China Sea on Tuesday, headed for a port call in the Philippines, a defence treaty ally. The United States is not alone in carrying out naval patrols in the strategic waterway…
APL Adds Port Calls to CP1 Service
APL, one of the world’s leading ocean carriers, announced that its China Philippines Express 1 (CP1) service will be making additional calls at the Chinese port of Xiamen and Batangas in the Philippines. This development extends the market coverage of the shortsea service that links South China and the Philippines. Each week, the enhanced CP1 service will directly call the Batangas port, facilitating shipments into and out of the economically-thriving Calabarzon region in the Philippines.
Philippines Eyes Exploration Deal with China in S.China Sea
The Philippines is looking to seal a pact with China within a few months to jointly explore for oil and gas in a part of the busy South China Sea waterway claimed by both countries, a Philippine official said on Monday. In February, the two countries agreed to set up a special panel to work out how to jointly explore for offshore oil and gas in areas both sides claim, without needing to address the touchy issue of sovereignty. "We're trying to see if we can achieve an agreement…
China Defies U.S. Plea for Restraint in South China Sea
China on Monday hit back at "irresponsible remarks" from the United States which has called on Beijing to stop a land reclamation project in the disputed South China Sea that could be large enough to accommodate an airstrip. China lays claim to almost all of the entire South China Sea, believed to be rich with minerals and oil-and-gas deposits and one of Asia's biggest possible flashpoints. Brunei, Malaysia, the Philippines, Vietnam and Taiwan also have claims. The comments by China's foreign ministry signal that Beijing would firmly reject proposals by any country to freeze any activity that may raise tension. Media reports over the weekend cited U.S.
China: Rig Not Drilling in Disputed Waters
In mid-2014, rig caused worst breakdown in ties in decades. China's Foreign Ministry said on Wednesday that a $1-billion deepwater oil rig was not drilling in disputed territory in the South China Sea, in response to a warning from Vietnam against such activity. Vietnam closely tracks the movement of the oil rig, which in mid-2014 caused the worst diplomatic breakdown between the neighbours in decades, when China parked it for 10 weeks in waters Vietnam considers its own. This week Vietnam said Beijing had steered the rig, the Haiyang Shiyou 981, into a stretch where jurisdiction is unclear. "According to what is understood, China's Haiyang Shiyou 981 drilling platform is operating in Chinese-controlled waters that are completely undisputed…
Vietnam Mulls Coast Guard 'Open Fire' Rules
Vietnam wants to give its coast guard more flexibility to open fire at sea, amid tension in the busy South China Sea waterway, a draft law released on Wednesday showed. The law, expected to be voted by lawmakers at the end of this year, would allow greater assertiveness in disputed waters by the coast guard, now armed with modern U.S. and Japanese patrol boats, in a policy likely to alarm neighbouring China. China claims almost all the South China Sea, through which about $3 trillion worth of sea-borne trade passes every year.
Dredger Bonny River Launched in China
DEME's latest trailing suction hopper dredger (TSHD), Bonny River, was launched at Royal IHC's partner yard COSCO Guangdong Shipyard in China and is due to be commissioned and put into operation in the coming weeks.The TSHD has a capacity of 15,000 m3 and a maximum dredging depth of 102 meters.According to Royal IHC, Bonny River combines various functions, such as the ability to dredge hard soil with its heavy duty suction tube combined with the ability to reach great depths with its XXL tube.Environmentally friendly aspects such as minimizing turbulence with its closed process water circuit…
China Hooked to South China Sea
Despite US President Barack Obama’s warning thatthe land reclamation work in the strategically important South China Sea would affect peaceful resolution of maritime disputes in the area, China might press on, reports SCMP. Obama said he had “candid” discussions with President Xi Jinping on Asia-Pacific disputes, voicing concerns about Chinese militarisation of artificial islands in the waters where China has competing territorial claims with several Southeast Asian neighbours.
China Dismisses South China Sea Support Doubts
China's Foreign Ministry on Thursday brushed off doubts about how many countries have offered support for its position in a case brought by the Philippines over Chinese claims in the South China Sea, saying the number of nations was growing daily. China has stepped up its rhetoric ahead of an expected ruling by the Permanent Court of Arbitration in the Hague on the Philippine case. China refuses to recognise the case and says all disputes should be resolved through bilateral talks. China says more than 40 countries have offered support for its position, the most recent being Zimbabwe and Sri Lanka. But only eight countries have come out in public support, including land-locked nations such as Niger and Afghanistan, says Washington's Center for Strategic and International Studies.
China: Manila Exaggerates South China Sea Tensions
China accused the Philippines on Tuesday of deliberately trying to scare people by saying China had warned a small civilian plane carrying Philippine officials it was trespassing as they inspected an island in the disputed South China Sea. The Philippines said the incident happened on Jan. 7 to an aircraft inspecting Thitu Island in the Spratlys, where Manila plans to set up surveillance equipment this year, as their aircraft flew near a Chinese man-made island. Chinese Foreign Ministry spokesman Hong Lei repeated that China has sovereignty over the Spratlys and that the Philippines had illegally occupied eight islands there since the 1970s, including Thitu, and had been building on them.
DNV Greater China Offshore Committee
Zhou Shouwei, Vice General Manager of CNOOC (China National Offshore Oil Corporation) and Academician of the Chinese Academy of Engineering accepted DNV’s invitation to be the chairman of the DNV Greater China Offshore Committee. The DNV Offshore Committee is the first of its kind to be organized by a classification society in China. “The objective of establishing this committee is to create a forum where senior executives from the Chinese offshore industry can meet to exchange information on new technology, innovation, experiences and practices related to offshore engineering,” said DNV Vice President and Regional Manager Joerg Beiler.
Douglas-Westwood Warns Congress on Chinese Oil & Gas Demand
In evidence to the US House of Representatives Subcommittee on Energy and Power’s hearing, April 4th, regarding the “The American Energy Initiative”, Douglas-Westwood LLP’s Managing Director, Steve Kopits, gave dire warnings about the likely development of China’s future energy demand. “China’s oil demand will likely keep pressure on oil prices for the indefinite future,” said Kopits. “China consumes 10 million barrels of oil per day (mbpd) on global consumption of about 88 mbpd. On supply Kopits stated, “China’s conventional oil fields are mature.
China May be Installing Radar in South China Sea
Satellite images show China may be installing a high-frequency radar system in the Spratly Islands that could significantly boost its ability control the disputed South China Sea, a U.S. think tank reported on Monday. The Asian Maritime Transparency Initiative at Washington's Center for Strategic and International Studies said the images showed that construction of facilities at Cuarteron Reef appeared nearly complete and that the artificial island now covered an area of about 52 acres (21 hectares). China claims most of the South China Sea, through which more than $5 trillion in global trade passes every year. Vietnam, Malaysia, Brunei, the Philippines and Taiwan have rival claims.
Chinese Navy Ramps up Drills in Disputed Sea
The Chinese navy has conducted live-fire exercises in the disputed South China Sea , reports Reuters. China claims almost all of the energy-rich waters, through which more than US$5 trillion of maritime trade passes each year. The Philippines, Brunei, Vietnam, Malaysia and Taiwan have overlapping claims. China's defence ministry said the drills were routine, even though other countries have made claims over various parts of the disputed territory. "The People's Liberation Army Navy in recent days organised a fleet to go to relevant seas in the South China Sea…
US Navigation Moves in S.China Sea to Continue
The United States will conduct freedom of navigation operations in the South China Sea again, U.S. Defense Secretary Ash Carter said in a speech on Saturday, although he gave no timeline for any such actions. Carter's comments, delivered at a defense forum at the Ronald Reagan Presidential Library in California, came at the close of a trip to Asia, where he cruised on a U.S. aircraft carrier operating in the South China Sea and blamed Beijing's island-building for rising tensions in the region. In October, a U.S.
SE Asia Unity Tested as Tensions Spike
A surge of tensions in the South China Sea threatens to widen divisions between Southeast Asian nations at a summit this weekend, posing a severe test for host Myanmar as the newly democratic country seeks to manage the region's growing alarm over China. The routine annual meeting of Southeast Asian leaders has been given a jolt of urgency by a series of collisions this week between Chinese and Vietnamese vessels after China stationed a giant oil rig near the disputed Paracel islands, off Vietnam's coast. Both sides have blamed the other, and dozens of coastguard and patrol vessels are in the area. Tensions also spiked in another part of the oil- and gas-rich South China Sea, with Beijing demanding that U.S.