On March 3, PremierLi Keqiang chaired an executive meeting of the state council,and made arrangements to improve the coordination mechanism for the six stability initiative to effectively deal with the impact of the epidemic and promote stable economic and social operations.The State Council decided to increase financial support to local governments and improve their ability to ensure basic living...
On February 27, COSCO SHIPPING Holdings, the firstultra-short-term financing bond (epidemicprevention and control bond) of 2020, was successfully issued by the Bank of Communications, with a scale of 1 billion yuan and a term of 180 days. The 110 million yuan of the raised funds will be used for COSCO Shipping and its subsidiaries to supplement the working capital requirements caused by the epide...
1.On February 28, Yangzijiang Shipbuilding Group announced its financial results for the fourth quarter of 2019, with total revenue of 4.8 billion yuan. 2.Alfa Laval PureBallast 3 has become one of the first non-Chinese ballast water treatment solutions to be type approved by the China Classification Society. 3.Qingdao Maritime Court published the announcement regarding a vessel mortgage contract ...
Cargo traffic at Chinas sea ports is expected to have dropped by six million TEU owing to the prolonged Lunar New Year holiday, a move implemented by the Central government to curb the spread of the coronavirus, according to Alphaliner estimates.The analyst said in its weekly newsletter that the volume contraction is anticipated to cut global container throughput growth by at least 0.7 per cent fo...
China has ramped up fuel exports to compensate for losses to domestic demand as it grapples with the coronavirus outbreak, having not been able to prevent a surplus in the world’s second-largest oil consumer with cutbacks in its refining output.China’s refined oil product exports have surged to well above year-ago levels, according to trade sources and industry analysts, adding to supplies in the ...
Container cargo volumes at Chinese ports (including Hong Kong) could fall as much as 6m teu in the first quarter of 2020, estimates analyst, Alphaliner.The full impact of the Chinese coronavirus is unlikely to become clear until the ports release their throughput figures for the first quarter, but data collected on weekly container vessel calls at key Chinese ports already shows a reduction of ove...
Emergency logistics specialists are doing all they can to limit or prevent imminent production slowdowns or shutdowns among European automotive manufacturers whose supply chains are experiencing major challenges due to the coronavirus outbreak in China.While various sectors have experienced disruptions to their supply chains from the impact of production closures and delays in China, automotive ma...
1.On the 25th, another 300,630 DWT VLOC belonging to the Polaris Shipping suffered another major accident in the sea area near Brazil sparking fears that the ship could sink. 2.The global offshore wind industry grew rapidly in 2019, according to a new report, with a record number of turbines going online last year and China leading the world in new builds. 3.Shipowner association BIMCO is warning ...
UK – US – WORLDWIDE –TLX Cargo, headquartered in the UK and with distributors around the world, uses the technology of thin reflective insulation to produce insulating pallet covers to protect freight moving along the cold supply chain. Now, with concerns over Covid-19 spreading the company says it is producing the worlds first cargo cover to be built from viral barrier material to aid in the figh...
Maritime department in Shanghai, east China has taken a series of measures to facilitate the shipment of production materials as many companies have gradually resumed work while containing the novel coronavirus outbreak.At a port operated by Chinas steel producing giant Baosteel Group in Shanghai, all the cargo ships have to enter the berths as instructed by the maritime authorities and the crew a...
With the expansion ofthe novel coronavirus epidemic, internationally, cargoes, containers and transportation facilities from China are under control. The shipping industry, which is the main form of transportation in the global economy and trade, bears the brunt. The serious shortage of demand and the failure to return to work are all the severe challenges faced by shipping companies, such as susp...
The joint inspection departments at ports in north Chinas Inner Mongolia Autonomous Region, northeast Chinas Liaoning Province and south Chinas Guangxi Zhuang Autonomous Region have taken multiple measures to resume import and export trade and customs clearance while continuing their efforts in epidemic prevention and control.Erenhot City of Inner Mongolia is an important channel for Chinas import...
UK – The incomingmandatory fuel sulphur cap regulationsfor ocean going vessels have seemingly been good news for some marine fuel suppliers. Hartlepool-basedPropeller Fuelssays the upswing in interest in recent months is attributable to the IMO regulations and it has prompted the company to look at ways to expand its international trade.The firm has now obtained seven-figure backing fromHSBC UKin ...
COSCO SHIPPING Lines has intensified its efforts in container liner routes and cross-border train service to provide a strong guarantee for the resumption and development of China’s import and export trade. In addition, the company rolled out two strong measures of “land-to-water” and “land-to-rail” transport at Shanghai ports to address the problem of trans-provincial container haulage facing cli...
Dear Partner:The outbreak of Novel Coronavirus Pneumonia (NCP) has touched the hearts of everyone in the country. All walks of life in the whole nation are competing against time and cheering for life. All staffs in Orange Logistics Organization(OLO), will embrace the concept of “sincerely at your service”, make a united effort with all friends, work together to triumph over this epidemic.After th...
Ships passing through The Panama Canal began paying a water tax of up ro $10,000 on Saturday February 15 .For the use of fresh water they will pay , to enable the Canal authority (ACP) face the shortage derived from the climate crisis and to finance future plans to ensure its full disposition.“Water is scarce,” said the Canal Authority admnistrator Ricaurte Vásquez in a recent forum. The announcem...
IMO 2020, the 0.50% limit of sulphur in ships’ fuel oil, has been in effect since 1 January 2020, cutting sulphur oxide emissions from ships operating worldwide. From 1 March 2020, the carriage ban on non-compliant fuel oil (except for ships with exhaust gas cleaning systems installed) will enter into force, helping to support implementation of the global sulphur limit. To support the safe and con...
The Baltic Exchange’s main sea freight index rose to a near two-week high on Monday, registering its biggest daily advance in more than two months as rates rose across all vessel segments.The Baltic index, which tracks rates for capesize, panamax and supramax vessels that ferry dry bulk commodities, gained 9 points, or 2.1%, to 434.The main index recorded its biggest one-day percentage gain since ...
The General Administration of Customs has come out with 10 measures to help in the resumption of work at export-oriented firms and stabilizing trade growth, amid the coronavirus outbreak in the country.The measures are aimed at increasing the support for foreign trade enterprises in the country and ease their problems, according to a statement released by the GAC on Sunday.Customs will simplify bu...
The maritime department in east Chinas Fujian Province has beefed up remote monitoring and on-the-spot patrols to ensure the safety of key projects under construction amid the novel coronavirus epidemic.The department sent vessels to escort a channel expansion project every day in Xiamen Port since it restarted the construction work on Jan. 28. Law enforcement officers ask whether crew members hav...
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