China had six of the world’s 10 largest container ports in 2018, stretching from its north to the south. This is the result of China’s 1 trillion yuans investment since 2012, aiming to enhance the facilities in the country’s ports. What is more, China’s external trade, including both imports and exports, increased to US$4.55 trillion last year, which marks a rise of around ten times since joining the WTO.
Busan Port Authority highlighted that its regular container cargo services increased five times to 268 during February 2018. The figure was based on the database q-from the global analysing institute, Alphaliner. In 2015 the number of its weekly cargo services was 257, in 2016 was 268, whereas it declined in 2017 in 253 because of the bankruptcy in Hanjin Shipping.
The Port of Shanghai will collaborate with the Port of Ningbo to develop the northern part of southeast China’s Xiao Yangshan port area. Namely, Shanghai International Port Group and Zhejiang Seaport Investment & Operation Group, the operators of the two ports, agreed on the development scheme. The move aims to advance the efficiency of cargo transit on the Yangtze River and lead to lower costs.
Drewry focuses on the World Container Index, which is a composite of container freight rates on 8 major routes to/from the US, Europe and Asia and is increased by 0.7% to $1,765.58 per 40ft container. The composite index is up by 0.7% this week, similarly, 20.5% up as compared with same period of 2018.
China’s Shanghai International Port Group continues leading the way as the world’s busiest container port for a ninth year in a row. The port reached the 42.01 TEUs container throughput in 2018, experiencing an increase of 4% in comparison to 40.23 TEUs that were recorded during 2017.
A maritime rescue drill took place at Waigaoqiao, China on Friday, October 12, under the city’s maritime security preparations regarding the China International Import Expo. During its course, three cargo containers ‘fell’ off a ships while it was leaving the dock and one of them was containing ‘dangerous’ goods.
The Shanghai Maritime Safety Administration has issued a sketch map of the waters comprising Shanghai Port which outlines the ECA for navigating ships. As of 1st October 2018, all vessels are required to use fuel with a sulfur content of up to 0.5% m/m, while navigating and berthing in Shanghai Port.
Ideanomics signed a Joint Venture for Exclusive APEC Model E-port Network, across Asia-Pacific with APMEN Trade Tech. The JV will design an electronic port clearance system based on blockchain, starting in two of the biggest ports: Shanghai and Guangdong.
China’s Maritime Safety Administration will carry out special security inspections on vessels entering Shanghai Huangpu River & Yangtze River Shanghai from 15 September through to 15 November. If a ship entering the concerned waters is found to be carrying a drone, the MSA will require the vessel to dispose it immediately.
Zhejiang Shipbuilding, a subsidiary of Sinopacific Shipbuilding that has bankrupted, proposed a restructuring plan. Namely, Shangai Yingjun Investment Management company will provide $220 million for the yard’s restructuring. After the restructuring has been completed, Yingjun Investment will have full control of the yard.
