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Asia-Europe Shanghai index spot rates plunge 20.5pc to US$934/TEU

PostTime:2014-11-17 08:01:31 View:1520

SPOT rates for shipping containers from Asia to northern Europe plunged 20.5 per cent to US$934 per TEU in the week ending last Friday, according to the Shanghai Containerised Freight Index, reports Reuters. Last week's fall comes after an 88 per cent hike in the index two weeks ago after Maersk said it would increase rates by $900 when the index was languishing at just under $700 per TEU.  But it was the largest ever weekly decline on the world's busiest freight route since the index began recording rates in 2009. A level below $1,000 is widely seen as a loss-making level for container shipping companies. Container freight rates have so far increased in 12 weeks this year but fallen in 33 weeks. Maersk Line, the global market leader with nearly 600 boxships, recently cut its forecast for global demand in container transport to grow three to five per cent from a previous 4 to 5 per cent expectation. "It's difficult for me to see how market conditions could improve for shipping companies since new vessels are still coming to the market from shipyards," said Sydbank analyst Jacob Pedersen. At the end of the third quarter of 2014, the global container vessel fleet amounted to 18 million TEU, an increase of 5.4 per cent compared to a year ago.  

Columbia Shipmanagement officially opens Shanghai jv

PostTime:2014-11-06 08:01:54 View:734

Columbia Shipmanagement (CSM) has set up in China officially opening a new joint venture with Singhai Marine Services. Columbia Shipmanagement Shanghai was officially opened on 3 November with a ceremony attended by over 150 guests. It is CSM’s fifth office adding to offices in Cyprus, Athens, Germany and Singapore and the company manages a total of 370 ships. Joint venture partner Singhai specialises in crewing and the recruitment, training and supply of seafarers in the Chinese market. “The partnership further presents the opportunity to bring to the Chinese shipping industry, Columbia’s extensive expertise in shipmanagement services and together with a fast growing shipowning community in China, Columbia Shipmanagement Shanghai aims to contribute to China’s global shipping aspirations and enhance the quality and competitiveness of Chinese shipping on an international level,” CSM said.

China increases foreign firm allowable activities in Shanghai FTZ

PostTime:2014-10-08 08:31:49 View:753

CHINA's State Council has eased restrictions in the Shanghai Free Trade Zone (FTZ) to attract badly needed foreign companies, Reuters reports. Newly registered foreign firms are only 12 per cent of the 10,000 firms allowed to operate in the FTZ. Remove Hong Kong and Taiwan concerns and the proportion falls to six per cent. The new changes widen rights ranging from heavy equipment makers to commodity exporters, who can now operate legally, allowing foreign motorcycle manufacturers and aircraft engine makers for the first time. Free from joint-venture requirements, foreign-owned railway bridge and station equipment producers can now set up shop. Ownership restrictions were also lifted on export commodity firms, including cotton, sugar, salt, and cooking oil trade firms. Foreign maritime cargo handlers will be allowed to hold 51 per cent in joint ventures. But the 29-square kilometre FTZ on the outskirts of Shanghai has lost much of its appeal since many of its special rights are common nationwide and are no longer special.  

Top Shanghai FTZ man expected to resign over party 'disciplinary' violations

PostTime:2014-09-17 08:38:38 View:763

THE deputy director of the Shanghai Free-trade Zone, Dai Haibo, the de facto head of the free-trade zone, is suspected of "disciplinary violations" and expected to step down. Mr Dai, also in charge of a taskforce on Shanghai port affairs, made an appearance last week chairing a government conference on ports, but his title as the free-trade zone chief was not used, the South China Morning Post reported. The timing of the Dai probe coincides with a Communist Party investigative team's arrival in Shanghai in late July. Mr Dai, a technocrat who attracts foreign funds to economic zones, had been touted as ideal for the top FTZ job. "He knows what needs to be done to welcome foreign funds and he has a good command of economics and industries," said a Pudong official. "His departure or sacking could slow down progress in developing the free-trade zone." This is regarded as a blow to the already struggling economic project ahead of its first anniversary. "A final verdict has yet to be given, but it's almost certain that he will be at least suspended from the job," said one official. "It's not clear whether he will face further punishment." Mr Dai, 52, might be allowed to remain in his other main role as deputy secretary general of the municipal government, sources said. The administrative committee of the trade zone could not be reached for comment. The sources said the concerns over Mr Dai might relate to previous jobs before his role at the zone.  

Shanghai port handles 3.11m teu in August

PostTime:2014-09-11 08:05:39 View:2771

Shanghai, the world's lagest container port, handled 3.11m teu in August, the highest monthly volumes so far this year, according to figures from Shanghai International Port (Group) Co (SIPG). Last month’s throughput rose 5.4% compared to 2.95m teu recorded in the same month of 2013.Volumes also improved by 1.6% month-on-month, data from SIPG showed. From January to August 2014, the Chinese port handled a total throughput of 23.44m teu, up 5.3% compared to 22.26m teu in the previous corresponding period.

Shanghai container throughput rises 2.8pc to 3.06 million TEU in July

PostTime:2014-08-12 08:30:08 View:767

SHANGHAI port posted a 2.8 per cent July increase year-on-year to 3.06 million TEU, according to figures released from Shanghai International Port (Group) Co (SIPG). On a month-on-month comparison, July volumes inched up 0.1 per cent compared to volumes recorded in June. In the first seven months of this year, the world's busiest container port posted a 20.33 million TEU, an increase of 5.3 per cent.

Shanghai moves higher box throughput in May

PostTime:2014-06-11 08:24:01 View:864

China’s Shanghai port handled a higher volume of containers in May over the previous corresponding period, while volumes remained stable month-on-month. The world’s busiest container port posted container throughput of 3.02m teu in May, up 2.8% compared to 2.94m teu recorded in the same month of 2013, data from Shanghai International Port (Group) Co (SIPG) showed. Last month’s throughput was stable compared to 3.02m teu in April this year. In the first five months of 2014, Shanghai moved a total throughput of 14.21m teu, up 4.7% from 13.57m teu in the same period of last year.

Shanghai FTZ to lead way in marine insurance liberalisation

PostTime:2014-06-09 08:17:53 View:871

China's insurance regulator will liberalise the marine insurance industry in the country and is using the Shanghai free-trade zone as a testbed, local reports said. The South China Morning Post quoted Shanghai-based analyst Chen Xingyu as saying that the China Insurance Regulatory Commission's recent move to cut red tape would streamline the supervision and operation of the marine insurance business in the trade zone. The regulator had announced last month that insurance companies could apply for approvals for new marine insurance products from the Shanghai Institute of Marine Insurance, for the first time allowing insurers to file applications with an industry association rather than the regulator. Insurers in the free-trade zone will also be able to set up branches in the zone without prior approval, which is also no longer required for the appointment of senior executives in branches in the zone. "The move is a clear step to cutting red tape and delegating power, which is positive to the marine insurance business, as more flexibility is allowed," Chen was quoted as saying.

Peel Ports buys Shanghai's ZPMC mega cranes Liverpool2 docks

PostTime:2014-04-24 08:21:04 View:2046

 UK PEEL Ports' has awarded a GBP100 million (US$50.4 million) contract to Shanghai-based Zhenhua Heavy Industries Company (ZPMC) to supply five ship-to-shore (STS) mega quay cranes and 12 cantilever rail-mounted gantry cranes (CRMGs) for phase 1 at its terminal Liverpool2 development. The GBP300 million deep water container development will gain a further three STS cranes and 12 CMRGs in phase 2 to complete by late 2015 to make the Port of Liverpool the country's largest transatlantic deep-sea port and container terminal capable of handling 13,500 TEUs.  The new container handling equipment can handle two 380-metre vessels simultaneously, and ultimately will have a capacity of over one million TEU. With semi-automated remote-controlled operation, the cranes will reduce the time taken to transfer containers from port to road or rail. They will also have the ability to operate at speeds in excess of 30 mph and wind speeds of up to 55 mph. The fleet of STS and CRMG cranes will be supported by a multi-million pound investment in state-of-the-art quayside facilities and support technology, including a fully-integrated Navis N4 terminal operating system, autogates and ABB equipment controls. SPMC senior vice president Liu Qizhong said the specification set out by Peel Ports was "extremely demanding".  "It is clear their ambition to set new standards in port handling technology is a serious one. The combination of deep water and cutting edge technologies sets a new standard for ports innovation in Europe," Mr Liu said. The Port of Liverpool currently handles a diverse range of cargo, including bulk solids and liquids, ro-ro and containers. In 2012, it was named by Containerisation International as Port Authority of the Year in recognition of its progressive and innovative approach "beyond the port gates". ZPMC has more than 76 per cent of the market share for container cranes throughout 79 countries and was the first recipient of a National Science and Progress Award in China in recognition of its research and innovation.    

SITC establishes new company in Shanghai FTZ

PostTime:2014-04-21 08:27:13 View:1879

On April 15, 2014 , SITC Lianyu Shipping LTD. In Shanghai FTZ was formally established, for seizing the historic opportunity of Chinese economic reform, building a platform for business innovation, and making full use of the advantages of policies and environment in FTZ, the company said in its press release.

Shanghai moves higher box volumes in March

PostTime:2014-04-15 08:18:52 View:829

Shanghai port, the world's busiest container port, registered an increase in container throughput in March, according to figures from Shanghai International Port (Group) Co (SIPG). The Chinese port handled 2.96m teu of box volumes in March, an improvement of 3.1% over 2.88m teu recorded in the same period of 2013, data from SIPG showed. Last month's throughput also shot up 34.3% from 2.21m teu recorded in February this year. In the first three months of this year, Shanghai port posted a total throughput of 8.16m teu, up 4.5% compared to 7.81m teu seen in the corresponding period of 2013. In 2013, Shanghai retained its title as the world's busiest container port with a throughput of 33.62m teu.

Temasek invests US$250 million in Shanghai Yupei warehousing giant

PostTime:2014-04-14 08:15:18 View:689

RRJ CAPITAL, a fund owned by Singaporean sovereign wealth fund Temasek, announced it has purchased a US$250 million stake in Shanghai Yupei Group, which owns and operates a nationwide logistics warehouse network in China.  Yupei said in a press release that the recent investment would complete all equity financing needs for the foreseeable future, furthering plans to extend its warehouse network to 3.4 million square metres.  The investment follows a $200 million stake purchased by US private equity firms by Carlyle Group and Townsend Group. As of this month, RRJ manages two funds totalling $5.9 billion.