Shanghai's container port, which ranks among the largest worldwide, has now opened the world's largest automated container terminal. The terminal will, in time, be able to handle 6.3 million teu, report several media.
A new silk road. This is how the companies and countries behind a new train link from Finland to China describe the new transport route. Sending containers on the new train will be three times faster than on a ship.
Growth in the dry bulk market is surprisingly strong and driven by Chinese appetite for iron ore as well as the large Capesize vessels, assesses JP Morgan ahead of the release of many third quarter reports.
The container market is behaving significantly different than usual this year in relation to China's Golden Week. There are far fewer blank sailings than usual, and rates have plunged since this summer.
China's escalating acquisition of ports and carriers is a sign of its commitment to its political vision of becoming a maritime superpower, prompting concern among European carriers, which have allegedly called for political attention to the matter – both nationally and within the EU. Next week's meeting of the Box Club will no doubt also revolve around the issue.
Chinese authorities have designated more ports as being in special zones where ships are required to use low sulfur fuel, and the country weighs tightening the sulfur emission limits even further starting in 2018, reports Seatrade Global.
China Petroleum & Chemical Corp., the world's top oil refiner, will process about 1 million metric tons a month less than previously projected for the period June to August. This comes alongside OPEC's weakened resolve to maintain output costs.
Cosco Shipping Group plans to launch a large financing fund for targeted investments in shipping. The fund will be split into a yuan fund and a dollar fund and will focus on, among other things, struggling companies.
Chinese plans for a brand new megacity spells good news for bulk carriers which transport iron ore, aluminum, and copper. In a new analysis, Wood Mackenzie projects a surge in demand for metals for construction.