News on China.
China is breewing on a series of measures aimed at stabilizing the market and rates in container freight, says a spokesperson according to Lloyd's List. The update comes shortly after the Chinese government announced aid for, among others, container makers.
Major dry bulk carriers such as Star Bulk, Oldendorff and Golden Ocean have for months had ships loaded with Australian coal idled off China. The situation is completely unprecedented, Star Bulk president tells ShippingWatch, while Golden Ocean is now able to change the crew on board a single vessel.
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The conflict between China and Australia, which prevents dry bulkers from offloading their Australian coal cargoes in China, continues unabated with no solution in sight. At present, 71 vessels are stranded while crews are calling on authorities to intervene. Things have gone from bad to worse, says Bimco.
A merger of the two South Korean yards Hyundai Heavy Industries Holding and DSME has been cleared by the Chinese competition authority. The merger, announced in 2019, is still being reviewed by the EU.
MSC vessel Anastasia has since summer been idling off a Chinese port, where innumerable dry bulk ships are stranded with cargoes on board. MSC has requested numerous times that the vessel be allowed to change its crew, now appealing to the country's authorities.
Seafarers and cargoes are stuck in a tug of war between China's ban on Australian coal and buyers who will not let them divert to other ports. An estimated 1,480 seafarers are stranded off the coast of China, many for several months.
A growing number of vessels carrying iron ore are unable to offload their cargoes to the Chinese market.
More than 50 dry bulk vessels with coal from Australia have now been stranded off the coast of China for weeks, writes Bloomberg. Nearly 1,000 seafarers are estimated to be affected. Norden follows the situation closely.
China's attempts to slow down the container lines' rate increases by introducing a ceiling are not met with support from customers, nor are they reflected in the rates, says analyst.
China has, in the shadow of the coronavirus crisis, now assumed the rank as the world's biggest importer of reefer containers and thus frozen and refrigerated foods. This development likely to continue into 2021, estimates advisory firm.
China has recovered faster than all other countries after the pandemic, and this has created a bigger need for import of iron ore and grain products to the country. Norden sees dry bulk spot rates at 90 percent above previous quarter.
Maersk CEO Søren Skou understands to a certain degree why the US has launched a showdown with China, but he adds that he remains concerned about the growing protectionism. He does not believe that a presidential election will alter the countries' relationship, he tells Berlingske.
While other countries are shutting down due to coronavirus, China has opened up, and there is a lot of activity in the country's ports. Now everyone is looking to the five-year plan, set to be published this week. ShippingWatch has asked two economists specialized in Asian conditions about whether China can maintain its role as global growth driver.
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.
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