China Shipping bulletins on June 5,2020

1.MPA and NUS Enterprise announced the launch of Smart Port Challenge (SPC) 2020 under Port Innovation Ecosystem Reimagined @ BLOCK71 (PIER71). 

2.Houston-headquartered OSV owner Seacor Marine Holdings has sealed an agreement with Cosco Shipping Group to acquire the Chinese company's 50% stake in Seacosco Offshore.

3.Cosco Dalian Shipyards has resold a newbuild 28,000 cu m LNG carrier to Singapore-based CNTIC VPower LNG Logistics.

4.Nanjing Tanker has placed an order at domestic yard Taishou Maple Leaf Shipbuilding for the construction of a 3,700 dwt chemical tanker.

5.Gerry Wang-led Tiger Gas has entered the gas shipping business,having signed contracts with China's Yangzijiang Shipbuilding for the construction of up to ten LNG tank container carriers.

6.China's comprehensive import price index for LNG went up last week, according to the Shanghai Petroleum and Natural Gas Exchange (SHPGX).

7.The container spot freight rates from China East Main ports to US West Coast ports rose to USD 1,837 per FEU on 1 June 2020, a 5% increase from the previous week. 

8.China's foreign trade is expected to show a stable recovery in the second half of the year on the back of a notable improvement in the industrial.

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