Shanghai International Shipping Institute News

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…

Dry bulk shipping companies being hit the hardest on account of the deteriorating business climate are likely to be swept by a new wave of bankruptcies, reports Nikkei. The global commodities bust has rocked the dry-bulk shipping industry, with a wave of bankruptcies washing across the sector and major players forced to restructure, divest or scrap assets. Many in the industry had hoped it would start to recover this year. But there is not much sign of that—and it looks as if more pain is still in store for shipowners. On Jan. 5, the Shanghai International Shipping Institute issued a striking report after polling about 50 of the nation's largest bulk shippers. The survey concluded that 60% of the firms it polled were struggling with long-term losses and about 40% faced liquidity problems.

The Shanghai International Shipping Institute (SISI) predicts a surge in bankruptcies within China's dry bulk shipping industry, Reuters reports. The overall business climate in China continues to deteriorate and dry bulk shipping companies, being hit the hardest, are likely to be swept by a new wave of bankruptcies. The institute basis its prediction on a survey of 50 of the country's biggest dry bulk shipping lines, which found that over 60 percent are struggling with long-term losses and 40 percent are facing liquidity problems. In the fourth quarter of 2015, shipping business climate index was at 82.04 points, the report shows, which is still a relatively depressed level. The shipping business confidence index was at 34.42 points, also slumping heavily.

Baltic Dry Index hits all-time low of 468 points on Tuesday. China's dry-bulk shipping industry will likely see a surge in bankruptcies this year as freight rates hit record lows and the country's demand for imports wanes, consultancy Shanghai International Shipping Institute (SISI) said. A number of firms have already gone bust over the past year as the industry grapples with the worst downturn on record due to stalling demand for iron ore and coal from China and a global surplus of vessels. With benchmark freight rates now at an all-time low, finances will be further stretched for shippers. According to the SISI, more than 60 percent of the dry-bulk shipping firms it surveyed were struggling with long-term losses, while about 40 percent faced liquidity problems.

New ship orders at Chinese yards have fallen 68.3 percent to the end of August as tough conditions prevailed in the global shipping market, Global Times reported quoting data from the China Association of the National Shipbuilding Industry (CANSI). Accoring to experts said the discouraging figure will exacerbate the problems of the country’s struggling shipyards. CANSI said that due to the slack market, order backlogs and prices for new ships also fell. China’s shipbuilders completed 14.6 percent more ships by tonnage than a year earlier during the eight months, reducing the order backlog, which was down 12.1 percent at the end of August, CANSI data showed.

China’s total international shipping volume will reach 6.2bn tons, which will account for 17% of the world’s shipping volume, says 2030 China Shipping Development Outlook report published by the Shanghai International Shipping Institute. Container throughput in China will reach 505 million 20-foot-equivalent units by 2030, three super container hub ports will be formed in Shanghai, Qingdao and Hong Kong, and Chinese firms will become global container terminal operators. In 2030, China’s coastal shipping volume is projected to reach well over 3.3 billion tonnes, and its coastal container shipping volume around 116 million TEU, taking up nearly half of China’s total coastal transportation. China’s ship financing will also account for 30 percent of the world’s volume.

Federal Maritime Commissioners Richard A. Lidinsky, Jr. and William P. Doyle met with transportation officials from China on January 14, 2015 in Washington, D.C. Members of the delegation included Professor Yu Shicheng, Chairman of the Shanghai Maritime University Council and Director of the Shanghai International Shipping Institute (SISI); Wang Jianmin, Vice President of the Shanghai Shipping Exchange (SSE); Chen Jihong, Associate Professor at the Shanghai Maritime University (SMU); Luo Kai, a researcher at the China Academy of Transportation Sciences (CATS). Accompanying the visitors was Dr.

Commissioner Doyle briefed the Federal Maritime Commission at today's open meeting and provided details and recent information pertaining to efforts to clarify the People's Republic of China new Value Added Tax regime. He also discussed China's interest in establishing a mutual NVOCC legal assistance and mutual bond rider recognition mechanism as well as tax concerns in connection with terminal ownership and operations. On October 28, 2013, the Annual U.S. Bilateral Maritime Consultation with the People’s Republic of China was held in Chicago, Illinois. On behalf of President Obama, the U.S.

Commissioner Richard A. Lidinsky, Jr. and Commissioner William P. Doyle met with representatives of the Shanghai International Shipping Institute (SISI) on September 26, 2013 in Washington, DC. Representing SISI were Professor Zhen Hong, Secretary General of SISI; Professor Zhang Jieshu, Deputy Secretary General of SISI; and Angela Xu, International Cooperation Department of SISI. The cordial discussions included an overview of China - US maritime trade, Panama Canal Expansion, China's Value Added Tax, and the proposed P3 Alliance.

The recent Offshore Support Vessel World Forum meeting in Shanghai believes that optimism is returning to global offshore markets. The forum is a platform for oil and gas producers, designers, builders, OSV owners, operators, contractors, classification societies, equipment suppliers and legal/financial service units to discuss and address future opportunities and challenges. The theme of the conference was 'Maximizing commercial opportunities amid OSV market recovery by meeting new technical challenges and regulations'.

Sinopacific Shipbuilding Group to team up with event organizer The Oriental Pro-Energy Consulting Organization (Topco). Sinopacific announce its cooperation with the leading event organizer The Oriental Pro-Energy Consulting Organization (Topco) to jointly present at the Offshore Support Vessel World Forum (OSV World 2012) in Shanghai China on 11-12 Sep 2012. The event, event, supported by Sinopacific, Shanghai International Shipping Institute, UCIBN, LTI Steel Wire Rope, GL, MARIC, TCC Fleet and Wuchang Shippbuilding etc., is expected to attract 200 industry players to get updates on key design & technology trends in offshore projects and to network.