China Shipping News

Maersk on Wednesday announced it had entered into the shipping industry's first large-scale agreement for green methanol from China's Goldwind, and said production of green methanol was high on the political agenda in China.Shipping industry leader Maersk is investing in green fuels to power its fleet as it strives to reach net-zero emissions by 2040, while the shipping industry, responsible for 3% of global greenhouse gas emissions, aims for net-zero emissions by 2050."There's a lot of activity in China in this field for sure.

China celebrated its 19th National Maritime Day on July 11, with celebrations taking place in museums and schools along with a range of technical conferences.The Ministry of Transport released the 2022 China Shipping Development Report which showed that container throughput at ports increased by 4.7% and the volume of rail-water multi-modal transport routes increased by 16% year-on-year.China Daily reports Vice-Transport Minister Fu Xuyin saying: “By the end of last year, the Chinese fleet reached a carrying capacity of 370 million deadweight tons…

China’s first hydrogen fuel cell powered boat “Three Gorges Hydrogen Boat No. 1” has been launched in Guangdong.“Three Gorges Hydrogen Boat No. 1” is a 164 foot long, 33 foot wide passenger catamaran capable of reaching a maximum speed of 17 miles/hr. It is powered by a 500 kW hydrogen fuel cell with a 1,800 kWh lithium battery system and has a range of 124 miles. The steel-hulled vessel has an aluminum superstructure and glass curtain wall construction.It is expected to lead…

German logistics firm HHLA on Thursday called on the German government to uphold its responsibility towards the port of Hamburg and finally approve an agreed investment of China's shipping firm Cosco.HHLA has been waiting for a final go-ahead from the economy ministry for 18 months and now expects to hear back soon, Chief Executive Angela Titzrath said. "We believe we have answered all the questions," she said at a presentation of HHLA's 2022 results. HHLA had implemented all the ministry's requirements for the contract with Cosco.

Shipping lines and container owners in North America (majorly in the U.S.) are finding it difficult to return containers to China. To add to the present challenges, the U.S. is also facing major trucking issues that are making cargo movement within the country difficult.The U.S. is again in the spotlight according to the monthly container logistic report published by Container xChange, a technology marketplace and operating platform for container logistic companies.“What is happening in the U.S.

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.

Bottlenecks in global container shipping could worsen later this year as a result of new COVID-19 lockdown measures in China, shipping group Maersk warned on Wednesday.Maersk, often seen as a barometer for global trade, said a surge in consumer demand, pandemic-related congestion in major ports and more recently an airspace closure following Russia's invasion of Ukraine have slowed down container shipments and prompted a spike in freight rates."Further challenges arise from the ongoing COVID-19 lockdowns in China…

Shipping companies may face delivery delays of vessels fitted with exhaust gas filtering equipment that complies with anti-pollution rules that kicked in this year due to the impact from the virus outbreak in China, shipping sources said on Friday.A Mitsui OSK Lines executive said many vessels were in Chinese docks to get so-called scrubbers installed to meet the new emissions rules but with four Chinese provinces asking companies to extend the Lunar New Year holiday by a week, to Feb.

China is at the forefront of the large LNG sector growth and is emerging as the largest source of new LNG demand growth and second largest importer of LNG, VesselsValue revealed.China’s natural gas consumption has surged amid a gasification program and plan that is shifting millions of households and a large number of factories to natural gas from coal, said the report.Greece and Japan dominate in terms of USD value. Greece has recently overtaken Japan as the top owning country, ordering a large number of vessels since 2018.However, we have seen China emerge in the LNG market owning a total of USD 5.9 billion of Large LNG assets, which…

The global shipping containers market garnered $9.29 billion in 2017 and is estimated to reach $12.08 billion by 2023, growing at a CAGR of 4.5% from 2017 to 2023.Surge in seaborne trade, rise of transportation services, and increase in number of manufacturing facilities drive the growth in the market, said a research report by Allied Market Research.However, decreasing economic growth in few nations in Europe and the Asia-Pacific region restrain the market growth. On the other hand, the implementation of development programs and different supportive initiatives present new opportunities for growth, it said.Based on size of container…

The global shipping containers market, which amassed $9.29 billion in 2017, is estimated to reach $12.08 billion by 2023, growing at a CAGR of 4.5% from 2017 to 2023.According to a report by Allied Market Research, surge in seaborne trade, rise of transportation services, and increase in number of manufacturing facilities drive the growth in the market. However, decreasing economic growth in few nations in Europe and the Asia-Pacific region restrain the market growth.On the other hand, the implementation of development programs and different supportive initiatives present new opportunities for growth, it said.Asia-Pacific is a lucrative region.

“If consolidation was the solution to all that ails shipping, then container liner companies would be super profitable. They are not. In ‘commoditized’ sectors of the shipping industry, which by now includes pretty much everything apart from very small niche markets, there is hardly any economies of scale at the company level. As long as bigger is not in fact much better, then meaningful consolidation will not happen.”Dr. Roar Adland, visiting scholar at MIT Center for Transportation and Logistics and Professor at the Norwegian School of Economics (NHH).Like any other business…

The ship-leasing unit of China’s state-owned shipbuilder China State Shipbuilding Corp. (CSSC) plans to raise as much as HK$2.2 billion ($280 million) in an initial public offering in Hong Kong.CSSC (Hong Kong) Shipping, the leasing company, is issuing 153.4 million shares at an indicative price range of HK$1.34 to HK$1.42. The minimum investment is HK$2,868.62 per lot of 2,000 shares.CSSC (Hong Kong) Shipping owns 100 vessels with a total value of $5.6 billion.According to Caixin, CSSC will remain the largest shareholder of the Hong Kong unit with 75% after the listing.The report said that CSSC (Hong Kong) Shipping has secured four cornerstone investors that subscribed for a combined 1.25 billion shares.The investors are China Reinsurance Corp., China Shipping Container Lines Co.

The 1Q liquefied natural gas (LNG) shipping market declined from strong 4Q levels in line with historic seasonality, said Golar LNG, a LNG shipping company registered in Bermuda.LNG demand growth in China and other SE Asian countries was largely offset by declines in Japan and Korea due to a combination of a milder than expected winter and the re-start of several nuclear facilities. Chinese 1Q demand was up 20% up on 1Q 2018. During the quarter LNG prices reached 3-year lows, which eliminated inter-basin trading opportunities. At quarter end, LNG was trading at around 6% of Brent, well below energy parity. Atlantic basin cargoes from the US and Russia into Europe doubled by volume compared to 1Q 2018.

China's COSCO Shipping has confirmed it will call at the port of Liverpool after a successful trial last October to offer its clients more efficient services between Britain and Canada."The world’s top five shipping lines are all now calling at Liverpool following confirmation that Chinese giant COSCO Shipping is to ship via the port," said a statement from the UK's most centrally-located container port.COSCO Shipping will take slots on an existing Canadian service via Montreal with OOCL. It joins MSC, Maersk, CMA and Hapag in starting or growing a presence in Liverpool.The decision follows a successful trial by COSCO Shipping in October…

China Ocean Shipping (Group) Company (Cosco Shipping) started shipment of Toyota exhibits, which will be displayed at the 1st China International Import Expo (CIIE), at Honmoku Pier, Yokohama in Japan.Cosco Shipping (Japan) and Cosco Shipping Lines (Japan) provided transport service for these exhibits, the company said in its press release.This first batch of exhibits, which are the latest models of Toyota, were loaded in flat rack containers and carried by M.V. China Shipping Tokyo from Yokohama to Shanghai.To ensure smooth transportation for this Expo, Cosco Shipping (Japan) and Cosco Shipping Lines (Japan) have customized total logistics…

French container carrier CMA CGM announced Friday it has acquired from CHINA SHIPPING Ports Development Co. Limited, a wholly-owned subsidiary of COSCO Group, a 10 percent equity interest in CSP Zeebrugge Terminal NV, through its wholly-owned subsidiary CMA Terminals.CMA CGM is currently the major client of the Belgian container terminal and accounted for one third of CSP Zeebrugge's total throughput in 2017.COSCO SHIPPING Ports completed the acquisition of the remaining 76 percent…

Maritime cyber security specialist Naval Dome has signed a contract with Piraeus-based Stamco Ship Management to install its maritime cyber defense system aboard 55 Pure Car and Truck Carriers (PCTC).Stamco Ship Management provides technical and commercial ship management services to various companies like NYK, MOL, K-Line, China Shipping, Höegh Autoliners, WWL, Eukor and Glovis.Naval Dome will install the security system onboard the vessels’ bridge, navigation, communication and machinery control systems to deliver maximum…

China's LNG demand soars as tankers from the Americas divert to China. Liquefied natural gas (LNG) is being re-exported to China from Japan and tankers are being diverted from as far away as Brazil, with traders rushing to find cargoes in the face of a supply crunch in the world's No.2 economy as winter bites. Following an unprecedented drive to switch millions of households to natural gas from coal for heating, China's imports of LNG have surged as utilities struggle to meet soaring demand as winter gets off to a colder start than usual. "We expect to see many more LNG cargo diversions to China over the winter period," said Saul Kavonic, an analyst at energy consultancy Wood Mackenzie in Singapore. "Given China's ...

China's COSCO Shipping Holdings Co Ltd reported a first-half profit on Wednesday and forecast that improved demand in the container shipping market would continue for the rest of the year. China's largest shipping group, which last month offered to buy a Hong Kong peer to become the world's third-largest container liner, said January-June net profit was 1.86 billion yuan ($288.32 million). That matched an estimate it announced in July, citing improved market conditions. It also booked revenues of 43.5 billion yuan for the period. COSCO Group booked a 7.2 billion yuan loss in the first half of last year before merging with China Shipping Group to create COSCO Shipping.

The outlook for global container port demand growth is now more optimistic, and Chinese players are on the acquisition trail in an aggressive and highly confident manner, said a report from Drewry. Major M&A deals are changing the landscape, with more to come, according to the Global Container Terminal Operators Annual Report 2017, now in its 15th year of publication by global shipping consultancy Drewry. Drewry’s container port demand forecast is more positive than in last year’s report, exhibiting a 4 percent CAGR and adding a further 152 million teu of port throughput to the global total by 2021. This is a consequence of improved port throughput growth rates in the second half of 2016 and into 2017, and a more positive general global economic outlook.

Orient Overseas International (OOIL) and its container unit OOCL have a good track record for above-average profits in a challenging market and a reputation for being a very well-run company, earning the moniker “The Perfect Bride” by Drewry Maritime Financial Research. Retaining the management team, processes and systems is a wise move and could be of enormous value to Cosco Shipping Holdings (Cosco), Drewry said. OOCL has an owned-fleet of 66 containerships aggregating approximately 440,000 teu. It is a young and modern fleet with an average age of 7.1 years and average nominal capacity of 6,600 teu. It is introducing its first 21,000 teu vessel with five more to deliver and options for another six which it could easily exercise.

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.