News on China.
China will, by all accounts, announce a new environmental initiative before long. The country is expected to surpass IMO's 2020 sulfur regulations and ban the use of open-loop scrubbers within a few years, according to estimations.
Chinese port Zhoushan is much smaller than Singapore in terms of bunker deliveries, but the port has big plans to challenge the world's biggest bunker port, reports Reuters.
As China's President Xi Jinping works toward a trade deal with the US, China resumed its buying of US soybeans in a move that brings some relief to US farmers.
China could very well be next in line to introduce a ban against open-loop scrubbers. The country's increasing environmental focus could lead to even tougher rules than the IMO's sulfur regulations, says bank.
Following Trump's recent claims that China had agreed to start buying certain US products "immediately", Chinese officials are preparing to restart imports of US soybeans and LNG.
The truce between the US and China may have postponed an open conflict, but it has not yet prevented one. ShippingWatch has gathered reactions from Maersk Line, HMM, OOCL and Hapag-Lloyd. Shipping bank Nordea is far from convinced about the effect of a temporary agreement.
A law firm now says that it is involved in a case concerning bad bunker in China. This means that the problem, which has affected close to a hundred ships since the spring of this year, has now spread further.
For the past two months, US exports of oil to China have clocked in at zero, according to Bimco. But other countries have increased their import of US oil.
ExxonMobil bridges its billion dollar investment in LNG production around the world with a new import terminal in China, Reuters reports. The american company will also initially end up sidestepping tariffs, the media bureau writes.
Two vessels carrying soy beans departed the US for China, which could indicate that buyers are getting increasingly desperate for supplies as trade war lingers between the two nations.
Iran's state-owned container carrier has entered a collaboration with Chinese company to operate the carrier's for new container ships, reports Alphaliner. The new joint venture is announced shortly before US sanctions against Iran take effect.
Asian state subsidies are significantly impacting competition for European carriers and yards, says the EU Commission, which will defend the maritime industry against overproduction of vessels.
Speaking to Lloyd's List, China rejects claims that the country is working on an upcoming ban on open loop scrubbers, a technology which has been criticized in several countries.
China now says that negotiations to resolve trade dispute with the US cannot take place while President Trump continues to threaten with new tariffs on Chinese imports.
China is allegedly planning to slash its average tariffs on imports from most its trading partners as early as October, sources say. The move would lower consumer impact of deepening US trade war.
US President Donald Trump acts on his threats, and starting next week the US will introduce additional tariffs on Chinese goods totaling USD 200 billion.
If the trade war between the US and China escalates, it will likely lead to less traffic going through the Panama Canal, warns the canal's administrator.
US President Donald Trump will likely already Monday take a new step in the trade dispute with China by placing tariffs on almost all of the US' annual import of goods from China.
The US should not attempt to out-do China in the two super powers' ongoing trade dispute, writes Chinese state newspaper China Daily.
China is now the strongest maritime nation says a new report from DNV GL and a consultancy firm. The report takes into account the countries' strengths in shipping and ports.
Many signs indicate that China will buy more liquefied natural gas for the cold winter, writes Reuters. Demand is solid overall.
From Oct. 1, China will require that vessels sailing on the crucial trade route along the Yangtze river sail on fuel with maximum 0.5 percent sulfur. This is three months earlier than expected, reports North P&I in an update to customers.
According to Reuters, Chinese oil traders have started to switch their cargoes to ships owned by Iranian tanker shipping company NITC in an effort to ensure oil shipments despite the US sanctions.
China's Ministry of Transportation wants to expand the country's LNG infrastructure, so more ships shift from using heavy fuel over to liquefied natural gas. The announcement arrives after the country threatened sanctions on US LNG last week.
China is expected to take over from France's Total SA to develop Iran's share of the world's biggest gas deposit. The French oil major has halted operations after US President Donald Trump reimposed sanctions on Iran.
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