Eastern China News

For Chinese businessman Han Changming, disruptions to Red Sea freight are threatening the survival of his trading company in the eastern province of Fujian.Han, who exports Chinese-made cars to Africa and imports off-road vehicles from Europe, told Reuters the cost of shipping a container to Europe had surged to roughly $7,000 from $3,000 in December, when Yemen's Iran-aligned Houthi movement escalated attacks on shipping."The disruptions have wiped out our already thin profits…

An oil tanker runs aground off eastern China, leaking fuel into the water. Another is caught in a collision near Cuba. A third is seized in Spain for drifting out of control.These vessels were part of a "shadow" fleet of tankers carrying oil last year from countries hit by Western sanctions, according to a Reuters analysis of ship tracking and accident data and interviews with more than a dozen industry specialists.Hundreds of extra ships have joined this opaque parallel trade…

Authorities in China's eastern province of Zhejiang ordered ships to return to port, told schools to close and evacuated tourists from nearby islands, as one of this year's strongest typhoons is set to make landfall on Wednesday.Typhoon Muifa intensified on Tuesday as it barreled towards the twin port cities of Ningbo and Zhoushan, which share the ranking of second-busiest port in China, in terms of cargo handled.State media said China's 12th cyclone of the year was expected to make landfall between the cities of Wenling and Zhoushan…

Congestion off China's top two container ports Shanghai and Ningbo is worsening following the shutdown of a container terminal in Ningbo where a COVID-19 case was detected this week.Tighter restrictions to fight China's latest coronavirus outbreak are starting to hit more parts of the economy. The highly transmissible Delta variant has been detected in more than a dozen cities since late July.Forty container vessels were waiting at the outer Zhoushan anchorage on Thursday, up from 30 on Aug.

Brazil's Vale and China's Ningbo Zhoushan Port have signed a deal to invest around 4.3 billion yuan ($650.6 million) in iron ore storage and processing facilities in Zhejiang, a local government statement said on Friday.The move follows the two firms' inauguration of a grinding hub at the port in eastern China in August and further boosts Vale's presence in the top global consumer of the steelmaking raw material.Vale, the world's second-biggest iron ore miner, and Ningbo Zhoushan Port will each hold 50% in the joint venture (JV), whose planned creation was flagged in a filing last month.

Swiss-based global mining and commodities trader Glencore is set to send its first spot liquefied natural gas cargo to Zhoushan in eastern China in a trading joint venture with Zhejiang Energy Group, a top company trader said on Friday.Glencore's joint venture with Zhejiang, which is backed by the provincial government, dates from 2018, making it one of the few Western traders with such tie-ups in China, the world's top crude oil buyer and second-largest importer of LNG.Alex Sanna…

Congestion at China's east coast oil ports that is adding to costs for shippers and importers is likely to run well into August, with crude shipments set to hit another record high this month, according to analysts and Refinitiv data.The massive inflows are straining offloading facilities, while refiners and port operators in Shandong province -- home to a quarter of China's refining capacity -- are rushing to build new storage tanks.July seaborne arrivals into the world's biggest oil importer are expected to surge to 14.4 million barrels per day…

China's marine fuel futures contract that debuts on Monday on the Shanghai International Energy Exchange (INE) is likely to attract strong interest, despite weakened ship fuel demand amid the coronavirus pandemic, industry participants said. The new low-sulphur fuel oil (LSFO) contract features marine fuel meeting stricter international emissions rules and is the latest commodity futures product - and second oil contract after Shanghai crude - open to foreign investment. With few competitors…

China Merchant Heavy Industry (CMHI) has ordered 6 × MAN 12V32/44CR main engines in connection with the building of a new 5,000-tonne floating installation crane vessel – already christened ‘Les Alizés’ – for Jan De Nul Group.Delivering a cumulative output of 43,200 kW, the common-rail engines will each feature an enhanced, MAN-supplied SCR (Selective Catalytic Reduction) system for IMO Tier III-compliance, and will also meet the even-stricter Euro Stage Vcompliant NOx-emission limit.

GCL Oil& Natural Gas Co Ltd has entered a framework agreement with Royal Dutch Shell to explore setting up a joint venture based in eastern China to market and trade liquefied natural gas (LNG), the privately-owned Chinese company said on Tuesday.The proposed JV would secure LNG supplies from Shell and market the fuel to a receiving terminal which GCL is planning in Jiangsu province, GCL said in a statement.A Shell spokeswoman confirmed the agreement.The companies provided no further details. (Reporting by Chen Aizhu; editing by Jason Neely)

BEIJING, Aug 12 (Reuters) - The death toll from typhoon Lekima in eastern China rose to 44 people on Monday morning, according to official data, as the storm continued up the coast, racking up billions of dollars in economic losses and widely disrupting travel.An additional 12 people were recorded dead from the storm, including seven from Zhejiang province and five from Shandong, with 16 people missing, according to data from provincial emergency bureaus and state media.State broadcaster CCTV had put the death toll at 32 on Sunday.Typhoon Lekima made landfall early on Saturday in China's Zhejiang province, with winds gusting up to 187 kmh (116 mph).

Chinese gas distributor ENN Energy Holdings has begun operations at the first phase of its Zhoushan liquefied natural gas (LNG) import terminal, Vice President Ma Shenyuan said, speaking at a commencement ceremony for the terminal on Friday.As ENN aims to ramp up winter supplies in eastern China, the tanker 'Asia Integrity' docked at the Zhoushan terminal on the same day, bringing 145,000 cubic meters of LNG from Australia supplies to mark the launch of China's first privately…

Rising shipping rates have increased the costs of shipping oil from the United States to Asia and may further the restrict the flow of U.S. oil to the region later this year, multiple trade and shipping sources said on Thursday.Freight rates for tankers that carry crude oil have soared globally, buoyed by peak seasonal demand, weather disruptions and higher bunker fuel costs, the sources said.The cost of chartering a Very Large Crude Carrier (VLCC) capable of carrying 2 million barrels of crude from the U.S.

An Aframax tanker is scheduled to deliver the largest shipment of crude oil from Vancouver to China since January 2015 later this month, Thomson Reuters trade flow data show.For years, Canadian officials have pushed for an escalation in crude exports to rapidly growing Asian markets, but companies in the oil-rich Alberta have limited capacity to move crude to the nation's western coastline.That makes Canadian crude exports from Vancouver to Asia rare, but shipments have picked up in recent months, with oil tankers to China, Thailand and South Korea departing in April and July. Most of the crude shipped from Vancouver - which has limited export capacity - is carried to the U.S.

CNOOC's Zhejiang terminal will receive 5 million tonnes of liquefied natural gas in 2018 up from 3.58 million tonnes last year, CNOOC Gas and Power Co said on Thursday.The Zhejiang terminal located in Ningbo in Zhejiang province has unloaded 33 LNG tankers as of June, or 2.3 million tonnes, up 94 percent from the same period last year, CNOOC Gas and Power said.Storage tanks linked to the terminal are nearly full, CNOOC said.The terminal is a supply hub of LNG for Zhejiang province in eastern China where gas consumption is surging as households switch to gas for winter heating.(Reporting by Men

Maersk Line takes further steps towards simplifying the supply chains of its customers by expanding the service scope on its online platform ship.maerskline.com to cover more major trades and addressing customers'pain points. The new scope on the platform will cover customers exporting from ports of Shanghai and Ningbo in Eastern China and Qingdao in North China, to all Mediterranean destinations; expanding from the current three Northern China ports (Qingdao, Xingang and Dalian) to West Africa, South Africa and East Coast South America. The offering will be available for customers located in China, placing bookings either directly or through a booking agent.

The City of Suzhou in eastern China has deployed a fleet of electric workboats powered by Torqeedo motors as part of a program to clean up its canals and waterways. The ancient city of Suzhou, located in Jiangsu Province near Shanghai, is home to more than 10 million people. Often called the “Venice of the East” the 2,500 year old city is noted for its many canals, rivers, lakes, ancient stone bridges, pagodas and gardens. Suzhou Creek, which flows through the city to Shanghai, was at one time said to be the most contaminated waterway in China, filled with sewage and garbage.

It has been quite awhile since the global bulk carrier market has had much to cheer about, but U.S. dry bulk shippers are set to post strong revenue growth in the next two years thanks to soaring Chinese demand for high-grade iron ore from Brazil and Australia. To combat severe winter smog, China has slashed iron ore output, pushing steel mills in the world's second biggest economy to import more high-grade ore. China also wants to make pollution control a priority for the next three years.

The Ocean Alliance has launched its new Day Two Product with an estimated 3.6 million TEU carrying capacity provided by approximately 340 containerships deployed on 41 services. The new offering will commence in April 2018. Alliance partners CMA CGM, COSCO, Evergreen and OOCL will offer 20 Transpacific services, six Asia-Europe services, four Asia-Mediterranean services, four Transatlantic services, five Asia-Middle East services and two Asia-Red Sea services. “Ocean Alliance has been a fantastic success from a customer perspective since its launch last spring and we are very enthusiastic to announce our Day Two Product,” said Olivier Nivoix, Senior Vice President Ocean Alliance Lines.

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 ...

PetroChina is this week unloading the first Chinese purchase of crude oil from U.S. strategic petroleum reserves at a port in eastern China, according to shipping data and two industry sources. The move comes as China, the world's No.2 oil consumer, steps up imports from the Americas to diversify supply sources. PetroChina unit, PetroChina International America Inc, bought the 550,000-barrel cargo of Bryan Mound sour crude in a sale from U.S. strategic petroleum reserves in March for $28.8 million. Supertanker Cosrising Lake <C}KV7309834335>, chartered by PetroChina, is unloading the U.S. oil at Qingdao port in Shandong province this week, shipping data on Thomson Reuters Eikon showed. The crude has an API gravity of 33.3 degrees and sulphur content of 1.41 percent, according to the U.S.

Maersk Line will transform its TP12 service in to a standalone, around-the-world service that provides significantly faster transit times between Far East Asia and the US East Coast. From the Far East to the US East Coast the TP12 service will transit the new Panama Canal locks and call the ports of Newark, Norfolk and Baltimore on the US East Coast. On the return leg to Asia, the TP12 will go through the Suez Canal and call the ports of Salalah (Oman), Colombo (Sri Lanka) and Singapore. This change will significantly improve Maersk Line’s product offering to shippers on the Far East Asia and the US East Coast trade. “We are changing our TP12 service to provide a better product to shippers in Korea, Northern and Eastern China.

China Merchants Holdings (International) Company Limited, has announced that it has signed a share subscription agreement with Dalian Port (PDA) Co., under which Dalian Port will issue 1.1bn new shares to China Merchants for HK$4.3bn ($554m). Upon completion of the transaction, China Merchants will hold a 21.05% equity stake of Dalian Port, becoming the second largest shareholder. China Merchants Holdings, which will become Dalian Port's second-largest shareholder after the purchase, said the deal allows it to strengthen its ports network within China and enhance its port-service network. China Merchant said it has been striving to further strengthen its ports network within China…