On April 3, COOEC announced that on March 31, 2020, COOEC and Hong Kong LNG Terminal, Castle Peak Power Company Limited, HK Electric completed the signing of the general contract of Hong Kong Offshore LNG terminal. The total contract amount

1.Investors breaking trading records on Chinas commodities exchanges are looking to metals and energy futures products such as stainless steel, tin and crude oil. 2.On 3 April 2020, the Singapore Ministry of Health (MOH) issued a media rele

At 2:50 p.m. local time on April 6, South Korea, a container ship of K line suddenly crashed into a container bridge crane while docking at a terminal in Busan Port. The ship is a large container ship named Milano Bridge, 13870TEU. The time

Oil tanker storage is about the only thing in demand in the crude market right now. The coronavirus pandemic has obliterated consumption, forcing producers and traders to store more oil on the water. Draining these floating stockpiles may t

While the implications of COVID-19 for containership demand and freight rates are directionally clear, the timecharter market often marches to its own drum. London, 06 April 2020. The latest Container Shipping Forecaster* from Maritime Stra

1.Crude prices posted their biggest-one day gains on record on Thursday after President Donald Trump said he expects Russia and Saudi Arabia to announce a major oil production cut. 2.IMO Secretary-General Kitack Lim has asked the United Nat

The China shipping prosperity index (CSPI) sank to an historic low in the first quarter of 2020, as the shipping industry runs to a ferocious turbulence amid the spread of the COVID-19 pandemic, according to an industry report. The report a

Geopolitics is the dominating variable in the tanker market these days. With the OPEC+ negotiations falling apart and Saudi Arabia initiating an oil price war, the crude oil tanker spot freight rates, and time charter (TC) rates have soared

Wan Hai Lines Profit Increases Significantly In 2019, Wan Hai Lines achieved revenue of about NT $73 billion (about US $2.4 billion) and NT $66.8 billion (about US $2.2 billion) last year, basically the same as last year. The net profit att

1.Chinese shipyard Hudong-Zhonghua has launched a floating storage and a regasification unit (FSRU) for Greek shipping company Dynagas. 2.Chinas PMI rose to 52 in March, indicating that while manufacturing grew compared to February, it rema

In the afternoon of March 31, China Merchants Port and Ping An OneConnect held the signing ceremony of Guangdong-Hong Kong-Macao Greater Bay Area Port Logistics and Trade Facilitation Blockchain Platform project. According to the agreement,

The world is a very different place to when the last edition of Drewrys Container Forecaster report was published in December. The only certainty is supply and demand volatility. The outbreak of coronavirus (COVID-19) has laid bare the frag

China has increased U.S. crude purchases with some buyers snapping up cargoes at the widest discounts ever as sellers seek to offload excess supplies in Asia, six trade sources said on Wednesday. China started processing in March applicatio

The second edition of the Future Maritime Leaders essay competition encourages students and young professionals to submit essays about how the maritime sector can contribute to realizing the Sustainable Development Goals in the coming decad

1.LGM Engineering, formerly known as Gloryholder LGM, has secured a deal to supply an LNG fuel gas supply system to Dalian Shipbuilding Industry (DSIC). 2.CSSC (Hong Kong) Shipping Company released it full year financial results for 2019, b