China Shipping bulletins on March 20,2020

1.Yantai LNG Group, a Chinese outfit, has been granted an approval to develop a liquefied natural gas terminal in the Shandong province. 

2.Cosco Shipping has launched its first service between North America and Latin America, even as containerized trade growth between the United States and South America last year fell to its lowest point in three years.

3.The Liberian Registry has announced its latest proactive and industry leading measures with regards to implementing temporary vessel registration and mortgage recording procedures.

4.After a frantic week that sent crude oil freight rates to record highs amid a bookings bonanza to ship Saudi oil to the world, rates are now easing as charterers balk at the nosebleed charges.

5.Brazilian miner Vale has been shipping a larger proportion of iron ore products to China at the expense of Europe and other Asian customers at a time of weak volumes

6.On March 11, with a clear whistle, the first new ship delivered by Nantong COSCO KHI Ship Engineering Co., Ltd. (NACKS) after work resumption slowly left the terminal and started a voyage across the ocean.

7.The earnings of shipping companies globally will decline in 2020 amid sharply reduced demand for shipping services in the wake of the coronavirus outbreak, Moody's Investors Service said in a report.

8.The growing epidemic is expected to cause the global cross-border direct investment to decline by 5 percent to 15 percent, a senior commerce official said on Thursday.

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