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 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.
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.
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.
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.
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.