LNG Import: China is World's No. 2 buyer in 2018
China's imports of liquefied natural gas (LNG) in December soared 25 percent from the same period a year earlier to a monthly record of 6.29 million tonnes, customs data showed on Wednesday.The previous record of 5.99 million tonnes was set in November.For the whole of 2018, imports grew 41 percent from 2017 to a record 53.78 million tonnes, according to the data from the General Administration of Customs. That saw China retain its position as the world's second-buyer buyer of the super-chilled fuel after Japan…
China's LNG Imports Hit Record High
China's imports of liquefied natural gas (LNG) in November surged to a new record as the country briskly promotes the green fuel to clean its energy mix, said a report in Xinhua.In November, LNG imports totaled 5.99 million tons hitting a new record, rising 48.5 percent year-on-year, according to figures from the General Administration of Customs released over the weekend. The previous record was 5.18 million tons set in January this year, according to media reports.The report said that the country's appetite for natural gas has swelled rapidly in recent years…
China Becomes Top Natural Gas Importer
China has overtaken Japan to become the world's top importer of natural gas, as Beijing's crackdown on pollution boosts its demand for the more environmentally friendly fuel, while the restart of nuclear reactors in Japan reduces its LNG imports.China's total natural gas imports over January to October this year via pipeline and as liquefied natural gas (LNG) were at 72.06 million tonnes, up a third from the same period last year, according to Reuters calculations based on General Administration of Customs data.Japan…
China Coal Imports Fall Sharply
China's coal imports dropped sharply in August from the month before, customs data showed on Friday, after cooler weather crimped demand from utilities and as a typhoon disrupted supply.Total arrivals last month fell 12 percent from August to the lowest since May at 25.14 million tonnes, data from the General Administration of Customs showed.
China's Export Growth Steady, Import Growth Faster
China maintained solid export growth of 12.6 percent in May, slightly slower than in April, but still providing good news for Beijing's policymakers as they deal with tough trade negotiations with Washington.Imports also rose more than anticipated in May and at the fastest pace since January, with the data coming at a time when China has pledged to its trade partners - including the United States - that steps would be taken to increase imports.China, the world's largest exporter…
Asia Tankers-VLCC Rates to Hold Steady
Unipec charters 20 VLCCs for West Africa, MidEast cargoes; China's oil demand to climb 3.4 pct this year - CNPC. Freight rates for very large crude carriers (VLCCs) are expected to remain stable next week as buoyant chartering activity from the Middle East is offset by the large number of supertankers available for charter, ship brokers said. "We're going to see rates holding at current levels," a European supertanker broker said on Friday. "Saudi Arabian cargoes for February loading should be out on Monday.
China April Oil Imports Rise 7.6 pct
China's imports of crude oil rose 7.6 percent in April from a year ago, customs data showed on Sunday, lifted by continued strong demand from domestic private refiners. The high April inflows were a result of the strong appetite of small domestic independent "teapot" refineries. Beijing has granted licenses to more than 20 of them since last year to import crude for the first time. China imported 32.58 million tonnes of crude oil in April, data from the General Administration of Customs showed, missing a Reuters forecast.
Australian Coal Prices under Pressure from Sagging Chinese Demand
Australian thermal coal prices have fallen since the beginning of the month, pulled down by weak demand from China, and analysts said there was little hope for a rise in prices if China's imports do not pick up. China, the world's largest coal buyer and consumer, imported 13.54 million tonnes of coal in February, down 11.1 percent from January, figures from the General Administration of Customs of China showed this week. The ongoing demand and import slowdown in China is a result of its stalling economy, which is growing at its lowest pace in a generation, as well as structural shifts away from an industrialised to a more service-based economy alongside the government's efforts to rein in rampant pollution.
Bulk shippers hit by perfect storm as global economic doldrums take toll
Off the coast of a nearly deserted island below the southern tip of Hong Kong, at least 10 massive ships that normally carry hundreds of thousands of tons of coal or iron ore lie idle near one of the world's busiest sea routes. These empty vessels paint a grim picture for the dry bulk shipping business that veterans of the industry say is grappling with an unprecedented crisis of too many ships and not enough cargoes. The hollow boats underscore the global economic doldrums that policymakers are struggling to overcome. "This is the worst we have seen in recent times.
China Probes Shipping Lines
Seven of Chinese state departments are investigating four local shipping companies over allegations that they have levied arbitrary and excessive charges for port services following complaints from foreign trade firms, reports Reuters. The National Development and Reform Commission had so far found that some shipping companies “have too many items on document charges and unreasonable telex release charges,” the notice said. The companies are Ningbo Dagang Pilotage, a subsidiary of Ningbo Port Group…
Evergreen Marine Plans China-Indonesia services
The largest container shipper in Taiwan Evergreen Marine Corp will work with China's COSCO Group and China Shipping Container Lines Co to launch shipping services between China and Indonesia later this month. The three partners will assign four 2,000-2,700 twenty-foot equivalent unit (TEU) vessels to serve the new route. TEUs are used to measure the capacity of container vessels. The first sailing is planned to depart from Qingdao on the 20th of May, with the following the port rotation: Qingdao-Shanghai-Xiamen-Shekou-Pasir Gudang (Malysia)-Singapore-Surabaya (Indonesia)-Singapore-Qingdao.
Evergreen Expands its CPH Service Network
In order to offer a more comprehensive service to shippers and importers in the Philippines, Evergreen Line will team up with Cheng Lie Navigation(CNC) to launch the new China-Philippines Service (CPH). Two ships around 1,000 TEU will be deployed on the new weekly service, each operated by the joint service partners. Shanghai - Ningbo - Xiamen - Shekou - Manila (South harbor) -Shanghai. The new service is in addition to the four feeder loops, which Evergreen offers serving the Philippines. This comprehensive coverage of all major ports in the Philippines, includes Manila (both north and south harbors), Cebu, Davao and General Santos, etc. All services connect to Evergreen's global network via either Kaohsiung and/or Hong Kong.
China Looks to Boost Shangai Port Volumes
China will expand a scheme to speed up tax refunds for companies that export via a Shanghai port, the government said on Thursday, as it looks to boost the city's role as an international shipping centre. Exporters that send products abroad via Shanghai's Yangshan deep water port, will from next month be able to recoup some taxes as soon as ships set sail for Shanghai from feeder ports in Nanjing, Suzhou, Lianyungang, Wuhu, Jiujiang, Qingdao, Wuhan and Yueyang. Previously only Qingdao and Wuhan were included in the scheme…
China Posts Record Trade Surplus
China's buoyant exports pushed its trade surplus to a record in July, fuelling optimism global demand will help counter pressure on the domestic economy from a weakening property sector. While manufacturing appears to have picked up in the world's second-largest economy, unexpected weakness in the services sector this week has renewed concerns about the growth outlook. The weak housing market remains China's biggest risk, posing a drag on the broader economy and investor confidence.
China Needs More Ships' Officers
According to Li Enhong, director of merchant seamen management at the Ministry of Transport, colleges are able to produce only a few thousand merchant sailors every year, far short of what is needed. More than 10,000 graduates who studied non-maritime majors have joined the merchant fleet since 2006, thanks to training offered as part of a government program to support the shipping industry. "We realize the serious problems caused by the shortage of seamen, and it may restrain trade," Li told China Daily. China's trade has been developing rapidly since entry into the World Trade Organization, and this requires an increasing number of merchant seamen. Foreign trade passed $3.6 trillion last year, an increase of 22.5 percent, according to the General Administration of Customs.
China LNG Import Demand Grows
According to a Bloomberg Report, China’s LNG imports rose to a record in July as consumption continueds to climb. LNG imports reportedly gained 66 percent to 1.18 million metric tons, according to data from the Beijing-based General Administration of Customs, reported by Bloomberg. Imports of LNG cost an average $433 a ton in July, or $8.30 per million British thermal units, 47 percent higher than a year earlier, according to Bloomberg calculations.
COSCO Holdings to Build 46 Ships with $2.7b
Hong Kong-listed shipping company COSCO Holdings Co. Ltd. (SEHK: 1919 and SHSE: 780919) plans to build 46 ships with a total of $2.7b. The company is expected to have a fleet with 39 million deadweight tons in 2010. It is mainly engaged in bulk cargo transport under the wing of China Ocean Shipping (Group) Co. (COSCO), one of the five biggest shipping conglomerates in the country. Recently, COSCO Holdings announced that it would purchase the parent interests in its three subsidiaries COSCO Bulk Carrier Co., Ltd., Qingdao Ocean Shipping Co., Ltd., Shenzhen Ocean Shipping Co., Ltd. The purchase is still subject to the temporary shareholder meeting to be held by the Hong Kong-listed company on October 23.
China Joins CSI
The U.S. Department of Homeland Security today announced that the People's Republic of China formally joined the Container Security Initiative (CSI). U.S. Customs and Border Protection (CBP) Commissioner Robert C. Bonner and Mu Xinsheng, Commissioner of the General Administration of Customs of the People's Republic of China, today signed a declaration of principles in Beijing, formally initiating joint efforts to target and pre-screen cargo containers shipped from the ports of Shanghai and Shenzhen destined for U.S. ports. "CSI is an essential element of the layered security strategy of the United States," said Homeland Security Secretary Tom Ridge.