Total delivers carbon-neutral LNG
The French oil supermajor has shipped off a climate-neutral cargo of liquefied natural gas to China's CNOOC.
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News on China.
The French oil supermajor has shipped off a climate-neutral cargo of liquefied natural gas to China's CNOOC.
Ten ports in China will open for foreign seafarers in relation to conducting crew changes, says Bimco. And the EU has reached an agreement on new joint travel rules, which makes shipowners hope for easier access for crew changes.
China is making huge investments in mega refineries at a time when fuel demand is expected to peak within the next five years. This could flood the market with cheap oil exports.
Maersk has resumed the sailings on the Pacific that it blanked in the second qurter. As such, the company follows in the footsteps of Chinese OOCL, which has also reinstated several blanked sailings in October.
According to Chinese media, officials from China are prepared to launch a probe if container lines continue to raise the prices of container shipping, reports Bloomberg News.
Within the next few days, the major container lines will meet with the Chinese Ministry of Transport, says shipping analyst Lars Jensen. The meeting comes in the wake of rumors that China is planning measures to counter voided sailings and rate increases.
The EU should strengthen its response to the Chinese state's investment strategy in the union, says the European Court of Auditors. Investments in the maritime sector are up, but there is a lack of regulations to safeguard Europeans against illegal state aid.
The Alliance and 2M have both voided sailings from Asia to Europe next month. The reason for the blankings is the so-called Golden Week holiday in China.
Chinese ports saw container volumes decrease in the first half of the year. However, the decrease has eased gradually, and August brought strong export level to the US, show new numbers.
China has announced plans to import large volumes of US reference oil WTI in August and September. This happens ahead of a review of the Chinese-US trade agreement, reports Reuters.
A think tank under China's transport ministry has launched a project that will develop guidelines and proposals for how methanol can be used as ship fuel.
President Trump insists that the phase one trade deal with China remains "fully intact" after his advisor Peter Navarro triggered confusion and a temporary stock slump with comments that were interpreted as an end to the agreement.
In the first five months of the year, production at Chinese yards has dropped by one fifth, show industry numbers, according to Seatrade Maritime.
A growing number of tanker ships are queuing off the coast of China's busiest ports, waiting to offload crude oil to the country's refineries. China's demand for oil in May was almost back to levels seen prior to the coronavirus outbreak.
The benchmark dry bulk index is approaching its all-time low after major decreases in the past weeks. "The market is extremely weak," an analyst tells ShippingWatch, pointing to one factor in particular that weighs down.
DFDS was one of several shipping lines that received a letter on force majeure from their yards in China. According to the ferry operator, the yards are operational again, and newbuild construction follows the set plan.
Two Chinese shipping companies have been hit by US sanctions as part of the White House's attempts to impact Iranian oil production.
Oil outfits see a huge surge in tanker rates as fleet utilization approaches 100 percent, with analysts saying the market could "go higher" in the short run.
Seven provinces in China allegedly plan to invest the towering sum of USD 3.5 trillion in infrastructure in an effort to restart the economy following the coronavirus outbreak, reports Arrow Shipbroking Group citing a Chinese media.
Among the three major European container lines covered by credit rating agency Moody's, Maersk is hit the hardest by the coronavirus. But CMA CGM and Hapag-Lloyd are also impacted by the outbreak, Moody's states.
Several shipping lines have reopened offices in China, which have been closed due to the coronavirus outbreak. Others are working toward a return to normal operations. The death count of the virus has gone down for the first time, and China hopes to see the end of the outbreak in April.
A number of top refinery executives in China expect domestic oil consumption to drop by 25 percent in February resulting from the coronavirus outbreak, writes Financial Times.
Ships set to have scrubbers installed could suffer further delays due to the Coronavirus outbreak in China, writes Reuters. It might also benefit others.
The world's second-largest economy grew by just 6.1 percent in 2019. This growth falls in line with expectations.
Chinese CMB Financial Leasing experienced a boom in its activities with, above all, western shipowners in 2019, and the company closes a record year, General Manager Ling Zhou tells ShippingWatch. Customers include MSC and CMA CGM.
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