1.Eastern Chinese port of Qingdao has inked strategy co-operation agreement with global information and communications solutions provider Huawei to jointly develop 5G technology.
2.Taiwanese shipping company Yang Ming Marine Transport Corp. has revealed changes to its service network amid the rising global trade tensions.In order to cope with this trend, Yang Ming plans to strengthen its Asian service network with the launch of a new Intra-Asia service, China-Thailand Service (CTX service).
3.American President Lines (APL), part of the CMA CGM Group, announced the launch of the Bangkok Haiphong (RBH) service that will provide weekly connectivity between South China, Thailand and Vietnam.
4.Cosco Shipping Energy Transportation, the energy shipping unit of Cosco, has approved a proposal to transfer its shares in two shipping subsidiaries into Cosco Shipping Oil Transportation, a joint venture between Cosco and PetroChina.
5.China’s container transport for export purposes increased for the week ending Friday, according to the Shanghai Shipping Exchange.The average China Containerized Freight Index (CCFI) stood at 818.83, up 0.9 percent from a week earlier, the exchange said.
6.China has completely scrapped its list of recommended battery suppliers. This decision could open up the world’s biggest market for electric vehicle batteries, foreign companies believe. The list was initially launched in 2015.
7.China imported 20.68 million mt of thermal coal in May, up by about 19.3% from April and 34.8% from a year ago, according to the coal import data released by the General Administration of Customs on Sunday.
8.China steel futures surged on Monday, with construction material rebar hitting a near eight-year high and hot-rolled coil climbing to an all-time peak, as demand picked up while output restrictions have been extended to reduce air pollution.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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