China’s imports of crucial commodities are presenting a rapid development the last months, showing that Beijing’s efforts may lead to a fruitful outcome and its trade dispute with the US may not be as harmful as expected, according to Reuters’ Clyde Russell.
After 11 months of 2019, total volumes have increased .4% in the Port of Los Angeles- America’s premier port- compared to its record-braking 2018. In a statement, it is said that the Port moved 728,918 Twenty-Foot Equivalent Units (TEUs) in November, a 12.4% decrease compared to last year.
DNV GL along with China State Shipbuilding Corporation (CSSC) came together and inked an agreement to develop future-proof solutions and competencies related to alternative fuels and environmentally friendly technologies and overall advantage a variety of fields in the shipping industry.
The Indian Register of Shipping (IRClass) along with the Further Marine Technology (FMT) shake their hands and inked an MoU, in order to boost their strategic cooperation. This collaboration, aims to benefit both sides by expanding their business in the South East Asian market.
Following the so-long cooperation and relation between China and Greece, the Greek Minister of Shipping and Island Policy Ioannis Plakiotakis stated that Greece will improve bilateral cooperation with China as an example under the framework of the Belt and Road Initiative.
Following the ongoing trade war between US and China, the former’s President, Donald Trump reported that China may wait until after the elections – November 2020 – for an official deal that will ease the trade war.
According to the “Advanced Manufacturing Shipbuilding Application” report published by KETmaritime, a rapid growth was seen in shipbuilding’s patent application. The study analyzes the recent use and future potential of ‘new-age’ technology, involving 3D-scanning, 3D-printing, robotics, virtual and augmented reality.
In the second round of bidding for four of its refineries, Petrobras has allegedly selected four groups of companies. In fact, Reuter reports that the Chinese Sinopec, Abu Dhabi’s Mubadala Investment and the Brazilian companies Ultrapar Participações SA (UGPA3.SA) and Raizen have been chosen to go through to the next phase.
China has decided to suspend US Navy ships visits and aircraft to Hong Kong after the US voted a legislation last week supporting pro-democracy protesters. In the meantime, President Trump is seeking a deal with China, aiming to end the trade war.
China will launch low sulphur fuel oil futures during the first quarter of 2020, in line with the changes following that year, from IMO’s 2020 sulphur cap to the goals set in the Paris Agreement, playing a crucial role in making the shipping industry more sustainable and greener.
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