China Shipping bulletins on July 3,2019

1.The Ministry of Transport of People’s Republic of China has agreed to heightened the security level to ISPS level 3 for all Chinese flagged vessels that are currently transiting or having the intention to transit through the straits of Malacca, starting from July 2nd 22:00 and will end on further notice.

 

2.Cosco Shipping Ports has announced that it has entered into a merger agreement with Tianjin Port Holdings and China Merchants International Terminals.

 

3.The fleet rejuvenation programme at Japan’s Nisshin Shipping proceeds at pace. Nisshin, which has sold much of its older tonnage in recent years, has returned to China for a total of eight tankers.

 

4.China’s Snapping Up a Little-Known Oil Product for Ship Fuel.As Chinese refiners struggle with low profits from turning oil into products like gasoline and plastics that have prompted run cuts across the country, a small corner of the market is having a moment.

 

5.Spot rates for shipping containers from Asia to northern Europe in the week ending Friday fell 2.1 per cent to US$701 per TEU, while the Shanghai-Mediterranean run edged down slightly to $726 per TEU, according to the Shanghai Containerised Freight Index (SCFI).

 

6.Nothing lasts forever and the current high prices for iron ore are expected to ease as China’s steel output reaches a peak this year, but the positive news for miners is that the decline in the world’s top producer is likely to be gradual.

 

7.Norway's Torvald Klaveness has withdrawn from chartering activities in China.The company said its Shanghai office, which was opened 16 years ago, will now focus on operations only.There will be no chartering staff there from 1 September.

 

8.Premier Li Keqiang Tuesday said China’s economy maintained stable performance with improving momentum for growth in the first half of this year.

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