Marine fuel sales in China have risen for the fifth straight year, spurred by competitive prices and an expansion of port and refining facilities. Singapore's status as the dominant supplier on the Asian market is under threat.
The western terminal in one of the world's busiest container ports, Yantian International Container Terminals in South China, is expected to reopen today, June 10, after being shut down for two weeks due to a severe Covid-19 outbreak, sources confirm to ShippingWatch. More than 300 container ships are waiting outside ports around the world, says Kuehne+Nagel.
The Covid-19 outbreak in South China and major port terminal Yantian is causing more problems and delays in an already heated container market, which "significantly increases" the risk of capacity issues into 2022, says analyst Lars Jensen.
Chinese container port Greater China Yantian has been partially shut down due to an increasing number of Covid-19 infections. It has now spread to several other parts of the major city Shenzen where the port is located. Maersk announces further delays. Updated.
Danish Ship Finance sees significant progress for the dry bulk market in the short term. But changes in China's demand could weaken the market in the long term for large and medium-sized ships, predicts a new analysis.
China's refusal to accept Australian coal means that other countries are now exporting coal to the major dry bulk nation. One such country is South Africa, which now ships coal to China for the first time in years. But the situation does not significantly change carriers' demand, notes Bimco.
China plans to allow some stranded Australian coal shipments to unload in the country despite its ongoing import ban. The move should be seen as a goodwill gesture to countries with seafarers stranded rather than an ease of restrictions, says anonymous source.
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.
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.
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 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.
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.