China Shipping bulletins on Feb 22,2019

1.High iron ore inventories at Chinese ports and uncertainty in the global economy are putting the demand for Capesizes at risk. Drewry believes that demand for Capesizes in 2019 will be proportional to iron ore inventories at Chinese ports. Despite the fact that Chinese steel production will increase in 2019, a further reduction in iron ore inventories could negatively affect the demand for dry bulk vessels.

 

2.Wuhan has launched port optimisation plans along Yangtze river and Han river to upgrade its port structure and reduce port and ship emission in the region.

 

3.The state-owned China Shipbuilding Industry Corporation (CSIC) set-up a Middle East Gulf area representative office in Dubai. It is the first overseas representative office the Group has established.

 

4.On February 18, Chairman of COSCO SHIPPING Capt. Xu Lirong led a delegation to China Baowu Steel Group Corporation Limited and held friendly talks with its Chairman Cheng Derong and some other leaders.

 

5.China's iron ore futures settled lower on Thursday.The most active contract for May 2019 delivery finished the day session down 1 percent to 615 yuan per ton. 

 

6.The Port of Shanghai, the world's largest port by TEU volume has announced it will cooperate with the Port of Ningbo, the world's largest port by cargo turnover, in the development, operation and management of the northern part of Xiao Yangshan port area, which could significantly boost the efficiency of cargo transit on the Yangtze River and lower costs.

 

7.Xiamen plans to expand its international sea-rail combined transportation based on the booming China (Xiamen)-Europe trains, local media reported on Feb 21.

 

8.2M shipping alliance partners Maersk Line and Mediterranean Shipping Company (MSC) are to shelve another Asia-north Europe sailing at the beginning of March owing to weaker-than-expected demand.