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.
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.
Chinese Merchants Port looks set to get access to the most interesting ports in CMA CGM's portfolio with the recent agreement signed by the two companies. According to Alphaliner, this leaves the French company with the ports that are not particularly attractive.
US President Donald Trump gave his approval for an initial trade deal with China, say people with knowledge of the matter. The deal entails China buying more US agricultural goods and halts the introduction of new US tariffs slated for Dec. 15.
A trade agreement between China and the US is allegedly moving closer, and the soybean trade is key to these negotiations. New numbers show that China has increased its import from the US significantly.
China Shipbuilding Group is now a reality, as the country has formally established the yard group, which according to state-owned media is the world's largest, reports Reuters. South Korean yards have also filed an application with the EU for approval of large-scale merger.
Only two out of more than 200 participants represent China at this year's Global Maritime Forum, where the most prominent agenda is measures for the industry to reduce its emissions. That is "far too few", according to Klaveness CEO, and the conference acknowledges the issue.
Within the coming three months, a quarter of the global supertanker fleet will be sailing for China, reports Bloomberg. Analysts say this is tied to factors including the recent attack in Saudi Arabia.
After a period with soaring VLCC day rates from upward pressure on the tanker market due to uncertainty about US sanctions on Cosco subsidiary Dalian Tankers, oil traders are again booking Chinese vessels. Sources say these new charters are not going to push rates down anytime soon, though.