News on China.
Growth in China's economy proved better than expected in the first three months of 2019. The economy continues to grow at an impressive rate, says analyst.
Exports from China increased by 14.2 percent in March, while economists expected a 6.5 percent increase in exports. In February, the country's exports decreased more than 20 percent.
China has several projects in the works aimed at helping the country's shipbuilding and shipping sector. "I don't think that in the shipowners community there is a full understanding of the impact of the Chinese policy yet," says Sea Europe's Secretary General in an interview with ShippingWatch.
The US exported 1.4 million tons soybeans to China in January, the highest level since the trade war began, writes shipping association Bimco in an analysis.
The WTO has once again lowered its expectations for global growth. Next week the IMF will present its projections, which the IMF head indicates will also be lower. New customs tariffs between the US and China as well as uncertainty surrounding Brexit are key factors.
One in three containers floating though the Port of Hamburg is on its way to or from China. And yet, port executive Axel Mattern is not worried about the turmoil surrounding the Chinese economy. There is still a momentum, says Mattern in an interview with ShippingWatch.
The much-anticipated meeting between US President Donald Trump and China's President Xi Jinping to sign an agreement to end their trade dispute will likely be pushed back to April at the earliest, sources say.
Official statements from the Chinese government reveal that it has ambitions to unseat Maersk as the world's largest container carrier. This is evident from a warning about China's influence by the Secretary General of Sea Europe, which organizes one of the cornerstones of the European maritime sector.
China will form a national oil and pipeline company in a move that marks the first public acknowledgment of the large-scale industry overhaul the country has been preparing for years.
China now lowers its economic growth target and announces a large-scale tax cut, as the country is working to handle a debt legacy and the current trade dispute with the US.
An increasing number of industry companies are experiencing declining sales in China, writes Wall Street Journal. "We had planned on an economic downturn in China, but it is actually worse than expected," says the former Caterpillar CEO.
Increasing debt problems and a trade war with the US has created problems in China's economy.
China's exports and imports dropped in December in a development that shows the impact of the current trade war and an economic slowdown.
According to several news outlets, China will now ban the use of open-loop scrubbers in port areas and emission control areas in coastal regions.
Ahead of expected trade talks next month, China has made efforts to end the trade dispute with the US, yet the country is also unsure it has done enough.
Brazil's export of soy beans to China has increased due to the trade war between China and the US. But Brazil is prepared if China calls off its tariffs on US soy beans, says agriculture minister.
Weaker retail sales and lower industrial production slowed down China's economy in November. This creates a challenging basis for the country's policymakers who are set to gather next week .
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.
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