China has hit the brakes on its oil buying spree as swelling inventories and limited import quotas stifle purchases. Softening Chinese demand in the final quarter of 2020 comes as renewed lockdowns and a spike in coronavirus cases across Eu

The World Maritime Organization (IMO) has adopted a two-tier strategy aimed for a drastic reduction of greenhouse gas (GHG) emissions from international shipping. The initial target obliges ships to cut their average fuel cost by 40% by 203

In the week ending Oct-16, Ningbo Containerized Freight Index (NCFI) issued by Ningbo Shipping Exchange (NBSE) Download PDF1 Below find the NCFI Weekly Index Data chart: Download PDF2 Source:Ningbo Shipping Exchange The opinions expressed h

Chinas announcement last month that it pledged to reach 2020-10-16-China-CO2-Neutral-More-than-hot-air Source:GIBSON SHIPBROKERS LTD The opinions expressed herein are the authors and not necessarily those of The Xinde Marine News. Please Co

A total of75 incidentsof piracy and armed robbery against ships (comprising 73 actual incidents and two attempted incidents) were reported in Asia duringJanuary-September 2020compared to54 incidents(comprising 49 actual incidents and five a

At 9:40 on the morning of October 16, a vehicle carrying three Vietnamese crew members departed from SIPGs Luojing branch terminal. The three foreign crew members were from Panamanian Adelaide cargo ship, which was docks on the 15 day morni

Lingshui 17-2 gas field project, the worlds largest truss semi-submersible platform independently designed and built by CNOOC, was completed in Qingdao. As the first module used in 1500m deep water high pressure gas field in China, the comp

In September 2020, the monthly throughput of Yantian Port in Shenzhen exceeded 1.46 million teu, breaking the record of throughput of a single port in the world again, which was another breakthrough after the record of throughput of a singl

Offshore investments are expected to rebound from 2021 and oil and gas operators will be looking for yards to build new facilities, with 40% of these contracts expected to be floating production storage and offloading (FPSO) units in the ne

Iron ore futures extended losses on Thursday, with the Dalian benchmark touching a fresh two-week low, as Chinas rising port inventories and softening physical demand for steel products weighed on sentiment. The most-traded January 2021 con

The increase in long-term freight rates is in line with BIMCOs expectations given the current strength of the spot market. As many more containers are shipped on long-term contracts compared with short-term ones, the long-term contracts are

The 14th Governing Council Meeting of the ReCAAP ISC (the Centre) was held on 13 and 15 October 2020 by virtual modality, due to the ongoing COVID-19 pandemic. The Meeting was attended by the Governors/Representatives of the 20 ReCAAP Contr

On the morning of 14 October, the naming ceremony of 83500DWT chemical tanker built by Yangzijiang Shipbuilding for the owner of KLAVENESS in Norway was successfully held. BANGUS, the fifth in a series of eight vessels built by Yangzijiang

ZhongGu Logistics has completed the transfer of 49% equity in Dongguan Port International Container Terminals, which is held by Singapores DGCT. After the completion, Dongguan Port Group and ZhongGu Logistics will hold 51% and 49% of the Co

Sales of marine fuel from the Chinese port of Zhoushan, the countrys top supplier of shipping fuel, in the first nine months of 2020 rose nearly 18% from a year earlier, a local government official said on Wednesday. Zhoushan supplied 3.26