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.
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.
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.
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.
A growing number of tanker ships are queuing off the coast of China's busiest ports, waiting to offload crude oil to the country's refineries. China's demand for oil in May was almost back to levels seen prior to the coronavirus outbreak.
The benchmark dry bulk index is approaching its all-time low after major decreases in the past weeks. "The market is extremely weak," an analyst tells ShippingWatch, pointing to one factor in particular that weighs down.
DFDS was one of several shipping lines that received a letter on force majeure from their yards in China. According to the ferry operator, the yards are operational again, and newbuild construction follows the set plan.
Seven provinces in China allegedly plan to invest the towering sum of USD 3.5 trillion in infrastructure in an effort to restart the economy following the coronavirus outbreak, reports Arrow Shipbroking Group citing a Chinese media.
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.