China

Chinese President eyes a maritime community with shared future

In light of the 70th anniversary of the founding of the Chinese People’s Liberation Army Navy in Qingdao, east China’s Shandong Province, on April 23, 2019, Chinese President and Central Military Commission Chairman Xi Jinping conducted a group meeting focusing on the importance of maritime peace and a future maritime community.

HMM, FESCO expand cooperation on China-Korea-Russia service

South Korean HMM announced that it will expand cooperation with Russian transportation group FESCO. With the expansion of cooperation, the current China-Korea-Russia weekly service will be reorganized and two of new direct services connecting Korea and Russia.

China to present new warships

China will present its new warships including nuclear submarines and destroyers during a parade next week, as it marks 70 years since its navy’s founding, according to a senior commander. This is considered by many as an indication that China flexes its well-equipped military capabilities. In addition, about a dozen foreign navies will take part in the parade from Russia, Singapore, India, Thailand and Vietnam.

Chinese restriction on coal imports affects demand on Panamaxes

China decided to restrict its coal imports in 2019 in less than 2018’s levels. Drewry supports that this decision will dent demand for Panamaxes, but an ongoing tussle with Australia could be the silver lining. The Chinese government aims to curb the coal imports by 3-4% in 2019. This could result to a decline of approximately 10 million tonnes.

German seaports increase the volume of cargo in 2018

German seaports handled 304.7 million tons of seaborne goods during 2018. This is an increase of 1.7%, in comparison to 2017, as the German Federal Statistical Office (Destatis) announced in the beginning of this week. In addition, the number of goods which German seaports received from other ports rose by 2%. Moreover, the shipping of goods from German seaports over the world’s oceans grew slightly by 1.8%.

Chinese iron ore is close to the end, Bimco says

BIMCO’s Chief Shipping Analyst, Peter Sand, launched the analysis ‘It’s the steel production, stupid!’, announcing the end of China iron ore cape run. The analysis focuses on the fact that Chinese imports of iron ore are continuously decreasing, whereas the nation’s crude steel production keeps growing. 

Port of Riga, Port of Qingdao sign partnership agreement

Last week, the Ministry of Transport of Latvia and companies from the transport sector took part in the China International Logistics Week in Xi’an. One of the most important events was the International Logistics Exhibition ‘China Western International Logistics Expo 2019, during which the Freeport of Riga signed a cooperation agreement with the Port of Qingdao in China. 

Switzerland to support China’s Belt and Road initiative

Switzerland will support China’s Belt and Road Initiative as President Ueli Maurer visits China during April. This will ensure ties with a major trading partner as other Western countries view the gigantic project with scepticism. The Swiss government said that the aim is to enhance cooperation on trade, investment and project financing in third markets along the Belt and Road Initiative.

China must further reform to ensure a sustainable growth, report says

The Chinese economy is still slowing down as it rebalances, with headwinds including trade frictions and a weak global economy undermining exports and creating new uncertainties. Policy should highlight long-term strategies to advance the economy towards improving economic efficiency and ensuring that future growth is sustainable, greener and more inclusive, a new report from the OECD says.

China creates world’s first armed amphibious drone boat

China has tested the world’s first armed amphibious drone boat with success. Built by Wuchang Shipbuilding Industry Group, under China Shipbuilding Industry Corporation (CSIC), the drone ship ‘Marine Lizard’, passed delivery checks and left the factory on April 8. In its ship form, ‘Marine Lizard’ is a trimaran fueled by a diesel-powered hydrojet and is able to reach a maximum speed of 50 knots while also being stealth.

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