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Cosco Shipping Specialized Carriers jv launches Shanghai - Middle East service

PostTime:2022-12-01 08:33:58 View:45

Guangzhou Yuanhai Car Carrier, an automobile logistics service provider established by Cosco Shipping Specialized Carriers, SIPG Logistics and Anji Logistics, has opened up automobile service for Shanghai - Middle East. Katherine Si | Nov 30, 2022 Based on automobile exporters’ demands, we have adjusted our automobile service and moved three 5,000 unit of equivalent car carriers from South America to the Middle East region, said Zhu Guihua, General Manager of Yuanhai, we are collaborating with our stakeholder Cosco Shipping to provide an integrated logistics supply chain service for automobile transportation, Zhu added. Yuanhai has already initiated its car carrier fleet expansion project and will add fifteen large-size dual-fuel car carriers into its fleet starting from the second half of 2024. The new capacity will be used for enlarging service network to more overseas countries and regions.  Related: SAIC Anji Logistics eyes for seven 8,900 unit car carriers In 2021, sales volume of China-made cars to Middle East regions was 2 million vehicles, a substantial growth of 101.1% year-on year. The whole year export volume of vehicles is expected to reach 3 million in 2022.

Shanghai-Rotterdam rate falls 18pc as A-E spot market plunges

PostTime:2022-11-30 08:43:18 View:46

CONTAINER spot freight rates on the Asia-Europe trade have continued to drop as the Shanghai-Rotterdam rate fell US$495 down 18 per cent last week to US$2,192 per FEU. The rate between Shanghai and Rotterdam is now 84 per cent lower than it was a year ago as the boom of 2020 and 2021 is almost completely wiped out, reported the UK's Seatrade Maritime News. Drewry's composite World Container Index (WCI) was down seven per cent last week at $2,404.46 per FEU its 39th consecutive weekly drop and 74 per cent lower than the same time a year earlier, and 77 per cent below the peak of $10,377 per FEU in September last year. The Shanghai Containerised Freight Index (SCFI) was down 5.9 per cent on the previous week at 1,229.9 points. According to Drewry, rates fell three per cent on Shanghai-Los Angeles run to $2,069 per FEU, while rates from Shanghai-New York slipped four per cent to $4,846 per FEU.

Shanghai drives volume growth in China as rates plummet

PostTime:2022-11-29 08:29:42 View:47

CHINESE ports moved a total of 244.9 million TEU in the first 10 months of this year, an increase of four per cent compared to the same period in 2021, reports London's Port Technology. From January to October 2022, the cargo volume of Chinese ports was 1.29 trillion tons, a year-on-year surge of 0.5 per cent. Shanghai confirms its place as top performing port in the country, with 4.19 million TEU moved throughout October, now standing at 39.08 million TEU totaled for the first 10 months of the year. Dalian port in the Liaoning Province showed the highest growth rate, increasing 18.3 per cent from the same period last year. In terms of container freight rates, the average value of the Ningbo Container Freight index (NCFI) in November was 1.055.1 points, showing a significant decrease of 24.2 per cent compared to last month. The Ningbo to North America route was affected by the short demand in the transportation market.

SIPG takes part in state-owned capital fund operation SIPG

PostTime:2022-11-18 08:48:10 View:67

Shanghai International Port Group (SIPG) will invest in RMB1.6bn ($220m) to jointly set up a capital fund company in Shanghai Pilot Free Trade Zone Lin-gang Special Area with another 12 parties. Katherine Si | Nov 17, 2022 Shanghai Stated-owned Capital Investment Company will lead the establishment of this fund, mainly to support major national and municipal strategies, state-owned assets layout, state-owned company’s reform and innovative development, as well as to structure optimization and adjustment.  Total registered capital of the new fund company will be RMB18.51bn ($2.6bn).  Related: SIPG and Jiangxi Port set up container terminal joint venture SIPG is actively supporting Beijing and Shanghai’s strategies by setting up this fund company, which is in line with SIPG’s diversified development targets in recently years, and is a crucial move to accomplish state-owned capital’s layout, commented SIPG.  The fund will focus on investments in pilot and leading industries including artificial intelligence, high-end equipment manufacturing, communication, new materials and digital industries.

Shanghai port breaks another record with new high on daily container volume

PostTime:2022-09-16 07:51:28 View:101

DAILY container handling volume at Shanghai port has surpassed 160,000 TEU, hitting a new high. Last year's highest daily container handling volume at the port was 158,858 TEU reported in August 2021. During January and August this year, Shanghai port posted a container volume of 31 million TEU, a slight year-on-year increase of O.2 per cent, accounting for 64.6 per cent of the whole year's target. Earlier this month, Shanghai port launched operation of its Northeast Asia Empty Container Transportation Centre. Having a handling capacity of 3 million TEU per year, the centre is expected to further strengthen Shanghai port's leading position in global container shipping market, reports UK's Seatrade Maritime News.  

Giant empty container yard opens in the Port of Shanghai

PostTime:2022-09-09 08:56:59 View:131

 A GIANT container yard for empties has opened in the Yangshan Special Comprehensive Bonded Zone in the Port of Shanghai, reports London's Port Technology. The yard is expected to handle a throughput of three million TEU annually and it is expected to expand the port's handling capability, boost domestic and foreign trade, and solidify Shanghai's status as an international shipping centre, official sources said. "The new centre will help us to apply digitalised and intelligent management to promote communications between ports and shipping enterprises, so as to provide empty container services for shipping operators as well as customers in northeast Asia, along the Yangtze River Delta region, and areas along the Yangtze River," said Gu Jinshan, chairman of the Shanghai International Port Group (SIGP), who operates the port. According to the port, the launch of the centre means more empty containers will be allocated to the Yangtze River Delta region and surrounding coastal ports via water routes, highways, and railways. Construction works for the centre began in August 2021, jointly developed with Maersk, CMA CGM, MSC and Evergreen. Despite disruptions brought by Covid, the Shanghai port saw a steady container throughput growth from January to August, with a traffic of 26.8 million TEU from January to July. "As the world's largest container port, the Shanghai port is speeding up the construction of a global shipping network together with ports around the Yangtze River Delta region," said Zhao Yihuai, deputy director of Lin-gang Special Area Administration. "The centre will further raise the resource allocation efficiency of the Shanghai port and contribute to the Shanghai port's global competitiveness and international influence."

Despite volume decline, Shanghai still world's biggest box port

PostTime:2022-09-02 10:13:27 View:164

THE Shanghai International Port Group (SIPG) posted a container throughput of 22.55 million TEU in the first half, declining 1.7 per cent due to Covid lockdowns, reports Britain's Seatrade Maritime News. Among three major port areas of Yangshan, Waigaoqiao and Wusong, Yangshan posted a container throughput of 11.814 million TEU, accounting for 52.4 per cent of the port's container volume. Port operations have been affected by local Covid lockdowns in the first half and external factors including Russia-Ukraine warfare and overseas port congestion. But the quick resumption of production at Shanghai port and Yangtze River delta had provided powerful guarantee for container cargo resources and transportation, said SIPG. Overall cargo throughput of Shanghai was 243 million tons in the first half, also dropped 9.9 per cent year on year. In H1, SIPG achieved CNY10.8 billion (US$1.56 billion) net profit, an increase of 24 per cent year on year, hitting a new high. Starting from 2010, Shanghai port had retained the crown as the world's busiest container port for 12 consecutive years.

Shanghai handles record number of containers in July

PostTime:2022-08-09 07:14:49 View:219

THE Port of Shanghai is reporting a new monthly record for the total number of containers moving through, reports Fort Lauderdale's Maritime Executive. The volume growth comes as the port recovered from earlier Covid crisis lockdowns and from the new surge in volume across many of China's largest container ports. The Shanghai International Port Group declared it handled 4.3 million TEU in July. It compares with a previous record of 4.2 million TEU in October 2020. On average, the port handled 3.93 million TEU a month in 2021. Seeking to give a sense of the magnitude of the volume, the Chinese media highlighted that Shanghai handled 140,000 TEU daily in July. The Shengdong International Container Terminal also reported a new monthly record of 840,000 TEU. July's volume is 16 per cent over July 2021 and 13 per cent ahead of June. The port worked in June to catch up after May's lockdown, including restrictions on inter-city trucking. Shanghai has handled 26.85 million TEU in 2022, putting it at a rate similar to the port's monthly average in 2021. Shanghai was ranked as the world's busiest container port for 12 years running since China launched an effort in 2010 to expand the port operations. The China Ports & Harbour Association reports overall solid growth in port operations in 2022. There was growth at eight of the 10 largest coastal ports.  

Biggest box ship - 24,116 TEU - afloat for MSC in Shanghai

PostTime:2022-08-05 09:32:55 View:223

SHANGHAI's Hudong Zhonghua shipyard has floated out what it calls the world's largest containership based on TEU capacity, reports Fort Lauderdale's Maritime Executive. Rival Taiwanese carroer, Evergreen Marine, has ships of 24,004 TEU. The stacking design the shipyard reports for the MSC vessel permits boxes to be piled 25 layers high. The vessel, which is being built for MSC, increases capacity versus a similar vessel built for Evergreen and delivered weeks ago as the world's largest containership. The newest vessel, the MSC Tessa, has the same overall dimensions as the Ever Alot and Ever Apex recently delivered by Hudong Zhonghua, a division of CSSC. While the main dimensions are unchanged, the company's containership design team has optimised the ship's superstructure, radar mast, and other related designs according to the characteristics of the ship owner's operating route. The shipyard developed the design with its internal design team and is calling the vessels the "Hudong-type" class. They measure 1,312 feet in length with a beam of 202 feet. The shipyard points out that they are 196 feet longer than the largest aircraft carrier and have a deck area equivalent to four football fields. The design incorporates several features which are reported to improve their energy efficiency. They have a small bulbous bow, large diameter propellers, and energy-saving ducts. The MSC Tessa is also the first newly built ship for the line and the shipyard to employ an air lubrication system for the hull which they estimate will reduce fuel consumption by three to four per cent. The design also used a shaft generator system to reduce fuel consumption and optimise the vessel's EEDI energy efficiency rating. They also are outfitted with a hybrid scrubber unit. The shipyard expects to deliver the MSC Tessa this year. It is the first of four vessels being built by the yard. Block assembly for the second and third vessels was started simultaneously in two drydocks at Hudong Zhonghua on June 13 shortly after work resumed from the Covid lockdowns in the Shanghai area. The shipyard reports it is using a batch construction method to speed the work on the two ships and improve efficiency in the construction process. Work on the fourth vessel for MSC began after the first vessel was floated out.  

Shanghai and Singapore port calls added to Gulf China service

PostTime:2022-07-05 09:08:51 View:227

THE Saudi Ports Authority (MAWANI) announced the addition of two new port calls, Shanghai and Singapore, to the Gulf China Service (GCS) in a bid to increase trade operations in King Abdulaziz Port in Dammam. GSC is a direct weekly service operated by Pacific International Lines (PIL), connecting China with the Gulf area in the Middle East. MAWANI has recently added seven new shipping line services to strengthen Saudi ports' connectivity with logistics networks around the world in line with the objectives of the National Transport and Logistics Strategy and Saudi Vision 2030. The King Abdulaziz Port has capacity to handle 105 million tonnes and extends for a total area of 19 square kilometres with 43 berths. Last March, the port recorded the highest daily container throughput for any port in Saudi Arabia handling a total volume of 18,020 TEU on a single vessel, according to London's Port Technology.  

Mixed messages as Shanghai port reboots back to normality

PostTime:2022-06-16 10:03:00 View:247

MIXED messages on demand are occurring throughout the shipping industry as Shanghai reopens and the feared congestion and chaos of peak season may not materialise, reports the American Journal of Transportation. Still, National Retail Federation (NRF) Projections for imports throughout the summer remain elevated and ocean spot rate futures and contract rates remain high too. Changes in inventory and spending are signs that things are changing, but there is enough demand and congestion to increase delays and ocean rates as Shanghai reopens. Taken together, this mix of competing indications may signal the start of a gradual return to normal. Meanwhile, Asia to US west coast prices fell 11 per cent to US$9,574/FEU. This rate is just nine per cent higher than the same time last year. While some measures record a drop in orders for US-bound imports in April and May, April volumes were five per cent higher than last year. May and June volumes are projected to be higher than April, 7.5 per cent greater than in 2021, and tied for the third-highest monthly volumes on record, with July and August not far behind. Regardless, consumer spending shifts are new developments and signs that inflation and the wane of the Covid crisis in the west are changing the market.    

Shanghai trucking shortage eases but hurdles remain

PostTime:2022-06-10 10:29:51 View:314

THERE is optimism that a trucking shortage in Shanghai is shrinking, providing relief to the supply chain congestion, though hurdles remain, reports Bloomberg. Some logistics experts see activity returning to 80 per cent of levels seen before Shanghai's Covid crisis lockdowns. Digital freight forwarder Flexport declared the trucking situation in Shanghai could return to normal soon. Although there are increasing levels of export containers heading into the city, IT logistics firm FourKites declared the volume heading out of Shanghai remains muted. FourKites' customers had an average of 52 per cent more volume brought by truck and rail into Shanghai recently, while levels remain 31 per cent lower than March 12. Meanwhile, container volumes transported from Shanghai were 84 per cent below March 12 levels.. The situation in Shanghai is being followed closely after a two-month lockdown impacted supply chains. The easing of port congestion is expected to unleash a wave of containers on the US west coast that could clog supply chains further. Citigroup declared in its June supply chains report that the global challenges look to be as sensitive as any time since the Covid crisis began. "Supply chain pressures have proved to be more persistent, and apparently deep-rooted than we had expected even a few months ago," said Citigroup. "Given these realities, any hopes of near-term improvement in supply chain conditions have been shattered."