Tag: China

A part of the oil tanker 'Sanchi' that has been on fire for several days off Shanghai after collision with a Chinese freighter, exploded on Wednesday, further hampering the search and rescue and fire extinguishing operation, CNN reported citing Chinese authorities.

The 'Sanchi' oil tanker, that collided with a freighter in Chinese waters over the weekend, could burn for two weeks up to one month, potentially expelling its bunker fuel, or the heavy fuel oil that powers a ship’s engines and contaminating the waters, according to South Korea’s Ministry of Oceans and Fisheries.

2018 is expected to be the busiest year, since 2010, in terms of supply, as 40 million dwt of crude and product tankers will be delivered. Last year, 35.5 million dwt were delivered. However, the volume of tonnage will be probably reduced, as delays are expected.

Chinese authorities fear that the Iranian tanker 'Sanchi' is at risk of exploding, as it is still on fire, following collision with a Chinese freight ship on Saturday in the East China Sea. All of its 32 crew members were reported missing as a result from the accident, while one body has been found so far.

The largest automated terminal, Shanghai Yangshan Port, started operations, under the fourth phase of the Yangshan deep-water port. The fourth phase will take up an area of 2,23 million square metres.

At the beginning of 2018, Chinese COSCO Shipping initiated new projects, in order to improve the Greek port of Piraeus, Greece's largest port. These projects aim to enhance the relations between Greece and China and set the port as Asia's gateway  to Europe.

Thirty-two people are missing after an Iranian oil tanker collided with a Chinese freight ship and went ablaze in the East China Sea, on Sunday. The 'Sanchi' tanker, operated by Iran's top oil shipping firm, was sailing from Iran to South Korea, carrying 136,000 tonnes of condensate, when it collided with the 'CF Crystal', about 160nm off the coast near Shanghai.

The adoption of strict pollution measures in Beijing has put China in a position to overtake Japan as the biggest importer of natural gas in the world for 2018, as gas will be destined to replace dirtier coal, Reuters reported.

Annual container handling capacity at the Chinese port of Shanghai has exceeded the 40 million TEUs, marking a global record. The port has now become the world’s busiest container port, since it first started container handling in 1978 with a throughput of 7,951 TEUs.

In 2018, the dry bulk fleet is likely to grow at the slowest pace seen since 1999, while global demand growth could outstrip supply growth, according to BIMCO. The level of growth in the fleet and the extent of demolition of excess capacity are key factors in the 2018 market.