China Shipping bulletins on Apr 1,2019

1.Expanded Cosco Shipping Holdings remained in the black in 2018 with a RMB1.23bn ($183.4m) profit and both its container lines, Cosco Shipping Lines and Orient Overseas International Ltd (OOIL), were profitable and reported significant improvement.

 

2.The much-heralded Hong Kong Seaport Alliance is to be gradually implemented from today (1 April). First announced in January 2019, the joint operating agreement is set to deliver enhanced service offerings across 23 berths under a common terminal operating system.

 

3.China VLCC has taken advantage of a rising tanker market to lock a VLCC into a period deal with Chevron at a 10% premium to the previous comparable deal.The US oil major has taken the 318,000-dwt New Triumph (built 2015) at $33,000 per day, according to shipbrokers. 

 

4.China LNG Shipping (Holdings) Limited (CLNG), 50% controlled by Cosco Shipping Energy Transportation named four ice-breaking LNG carriers jointly funded with Teekay.The four 174,000 cu m LNG ice-breakers are in 299 metres length and 50 metres width. They will be put into operation by the end of this year.

 

5.China's iron ore futures extended gains on April 1 after recording its best quarter in nine, buoyed by strong economic data and tight supply concerns after Rio Tinto cut its 2019 output for iron ore shipments. 

 

6.Spot rates from China to North Europe fell 4.8 per cent on Friday from the previous week to US$684 per TEU, according to the Shanghai Containerised Freight Index (SCFI).

 

7.China's containerised export volumes dipped in the week ending March 22, according to the Shanghai Shipping Exchange's average China Containerised Freight Index (CCFI), with the CCFI dipping 0.9 per cent from a week earlier to 813.37, reported Xinhua.

 

8.As the approach of 10th anniversary of the adoption of Hong Kong Convention, four new Contracted States were added in quick succession, first with ratifications by Turkey and the Netherlands on January 21 and February 20 and then by the accessions of the Republic of Serbia and of Japan on the 20 and 27 of March.

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