China Shipping bulletins on May 15,2019

1.Monitoring facilities have been installed on the Yangtze River, at Yangshan deep-water port and on a patrol boat. A Chinese ministry of transport researcher says the technology can screen vessels suspected of burning high-sulphur fuel before actual boarding takes place, making inspections more efficient.

 

2.Cosco Shipping Ports Limited and Peruvian mining company Volcan have signed an agreement Monday in Lima to build the $3bn Chancay Multipurpose Port Terminal.

 

3.China has revealed its intention to raise the rate of additional tariffs imposed on some of the imported U.S. products from June 1, 2019.The country would increase the rates of earlier imposed tariffs from 5 and 10% to 10, 20 and 25%, media reports cited the Customs Tariff Commission of the State Council.

 

4.Chinese spot steel prices have been drifting lower since early May following strong run last month, as downstream users only made purchase based on short-term demand while steel production remained in glut. 

 

5.After buying several container factories from its smaller competitor Singapore-based shipping company Pacific International Lines (PIL), China’s Cosco Shipping Holdings Co. is eyeing it as a potential takeover target.

 

6.Huangpu Port in Guangzhou, capital of Guangdong province, is sparing no efort in developing emerging industries as part of efforts for it to become a modern innovation zone in the Guangdong-Hong Kong-Macao Greater Bay Area, and a new trade center serving Hong Kong and Macao.

 

7.On the afternoon of May 9, a delegation headed by Member of the Standing Committee of Shaanxi Provincial Party Committee and Executive Vice Governor of Shaanxi Province Mr. Liang Gui visited the COSCO SHIPPING headquarters and held talks with Chairman of COSCO SHIPPING Capt. Xu Lirong.

 

8.Orient Overseas Container Line (OOCL) will introduce two new Asia to South America East Coast and the Caribbean direct services beginning in June 2019.

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