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Shanghai port's news

GAC Forwarding & Shipping (Shanghai) renamed GAC (Shanghai).

PostTime:2019-02-01 08:59:59 View:19

DUBAI's GAC Forwarding & Shipping (Shanghai) Ltd has changed its name to GAC (Shanghai) Ltd after more than a decade since it first opened in the city. Shanghai managing director Simon Xu said renaming comes after the company has established a firm foothold in the country's competitive shipping and logistics sectors.  The name change is timely, riding the wave of a rising demand for ship agency and logistics services.  "Over the years, our range of services has evolved to meet the changing needs of our customers," he said. "Our new name better reflects the extensive scope of services we offer today, which extends beyond shipping and forwarding.  Established in 2006, GAC China is part of the GAC Group, a global shipping, logistics, marine and related services provider with over 300 offices worldwide.  From the main office in Shanghai, it has extended its reach to other cities by setting up branch offices in Beijing, Tianjin, Qingdao, Chengdu and Xiamen. .

Qingdao Port lists on Shanghai Stock Exchange

PostTime:2019-01-22 12:51:04 View:34

Qingdao Port International Co Ltd, operator of the world’s seventh busiest port by shipping volume, was officially listed on the Shanghai Stock Exchange. The company’s stock price surged by 44.03 percent to reach 6.64 yuan ($0.98) per share shortly after the stock market opened and remained at the upper limit for IPO share price growth for the rest of the trading time. “The listing will give a new impetus to the company’s development as it is both on A-share and H-share markets,” Li Fengli, chairman of the board of the Qingdao Port Group. The company has been listed on the Hong Kong Stock Exchange since June 6, 2014. “Qingdao port will make greater efforts to bring interests to its employees and shareholders,” said Li, adding that the port aims to contribute more to China’s opening-up and the society. With a history of more than 100 years, Qingdao port is currently connected with over 700 ports in 180 countries and regions. The port recorded an operation revenue of 8.6 billion yuan from January to September in 2018, a 13.54 percent increase from the same period in 2017.

Shanghai still world's busiest box port, followed by Singapore

PostTime:2019-01-17 08:36:29 View:30

CHINA's Shanghai International Port Group (SIPG) retained its top position as the world's busiest container port for the ninth consecutive year. The port recorded 42.01 million TEU throughput in 2018, an increase of 4 per cent compared to 40.23 million TEU posted in the previous year, reaching a record high. The port achieved CNY10.28 billion (US$1.52 billion) net profit last year, reports Seatrade Maritime News, Colchester, UK. The port's improved performance was attributed to the recovery in the global economy, the nation's increasing import and export business coupled with improving service capability and efficiency, SIPG stated in its 2018 performance brief report. The world's second largest container port Singapore reported an 8.7 per cent growth in container volumes to reach 36.6 million TEU last year. Senior Minister of State for Transport and Health, Lam Pin Min, said 2018 had been a "year of uncertainty", but, "Thankfully, Maritime Singapore fared not too badly." Total cargo throughput was up slightly at 630 million tonnes last year compared to 627.7 million tonnes a year earlier. The Lion City remained the world's largest bunkering port in 2018 although the volumes sold in the port slipped to 49.8 million tonnes compared to 50.6 million tonnes a year earlier. The Singapore Registry of Ships also enjoyed a good year with the total tonnage of ships under the Singapore flag climbing 2.4 per cent to reach 90.9 million gross tonnes in 2018. Mr Lam noted that Singapore continued to attract top players with Thenamaris setting up a commercial ship management office and the World Shipping Council announcing it would be setting up its Asia office in the Lion City. Looking ahead on the container port front Singapore made positive strides in ensuring future volumes last year with Ocean Network Express (ONE) committing to a 4 million TEU joint venture terminal with PSA and Cosco Shipping Ports adding 2 million TEU to its joint venture terminal with PSA to bring its annual capacity to 5 million TEU.  

Shanghai retains crown of world’s busiest container port

PostTime:2019-01-16 08:59:29 View:26

China’s Shanghai International Port Group (SIPG) retained its top position as the world’s busiest container port for the ninth consecutive year. The port recorded 42.01m teu container throughput in the year of 2018, an increase of 4% year-on-year compared to 40.23m teu posted in the previous year, reaching a record high. The port achieved RMB10.28bn net profit in 2018. The port’s improved performance was due to the contribution a recovery in the global economy, China’s import and export business keeps increasing. The port has also been improving service capability and efficiency to achieve continued stable growth, SIPG sated in its 2018 performance brief report. Shanghai port container terminals, equipped with most advanced facilities, located in Yangshan, Waigaoqiao and Wusong areas, have 46 container berths, and over 6m square metres container yards. Staying as the world’s second largest container port Singapore reported an 8.7% growth in container volumes to hit 36.6m teu last year.

WinGD aims 20% increase in technical capacity through new Shanghai set up

PostTime:2018-10-25 08:52:25 View:36

WinGD (Winterthur Gas & Diesel Ltd) is setting up an engineering centre in Shanghai, China together with a subsidiary of CSSC (China State Shipbuilding Corporation Limited) to increase its technical capacities by 20%. WinGD’s partnership with CSPI (China Shipbuilding Power Engineering Institute) is in response to a receptive market to its X-DF engines and the planned technical advancements to come. The engine developer is looking to further expand its resources and continue its focus on maritime two-stroke engine design. “For nearly three years CSPI and WinGD engineers have been sharing expertise. While initially the cooperation focused on a few areas only, for instance engineering applications, CSPI’s capabilities in developing engine related systems and components has created further, enhanced synergies,” said Dominik Schneiter, vice president of research and development, WinGD. The collaboration comes at a time when the maritime industry is facing unprecedented change – change that is driving ambitious innovations in technology. Klaus Heim, ceo of WinGD, commented: “Our new engineering center, in cooperation with CSPI, is a milestone in our efforts to increase our overall R&D capacities and our global knowledge base. It is one of the cornerstones of our strategy, to further expand our product portfolio and strengthen our market position in both market segments, diesel and dual fuel engines.” The new engineering centre will be located at the CSPI premises in Shanghai. WinGD stated that it will continue to invest in engagement with global engineering services provider L&T Technology Services as part of an ongoing collaboration. “The shipping industry is highly volatile and heavily regulated. It is therefore essential for us to partner with global companies like L&T Technology Services who bring cross domain expertise and can understand our complexities to consistently deliver through high quality engineering work.” Schneiter said.

JD.com launches parcel delivery in Beijing, Shanghai, Guangzhou

PostTime:2018-10-25 08:46:35 View:66

CHINA's e-retail giant JD.com is entering the parcel delivery business by opening its logistics network to consumers to send parcels around the country. The company expects the strongest demand will come from urban professionals looking for same-day, intracity delivery. The parcel delivery service enables users of the company's app in Beijing, Shanghai and Guangzhou to send items intracity and throughout mainland China using the same delivery service they get when making purchases, reported American Shipper. The company has launched user trials of the parcel delivery service with multiple ways for customers to request pickups. In addition to the JD.com app, shippers can request pickups on a JD Delivery mini programme in WeChat, a social network operated by JD's partner Tencent, and a JD "Delivery Team" WeChat account. JD, which will expand the programme to include high-value items, aims to eventually make residential and business deliveries for shippers from anywhere to anywhere within mainland China, it said. "JD is the only large-scale e-commerce company in the world to operate a nationwide in-house logistics network, down to the last mile. The network, powered by the company's proprietary supply chain management technology, is able to deliver over 90 per cent of orders same or next day and reaches 99 per cent of China's population," the company said in its blog. "Depending on the delivery option chosen, packages may be sent by high-speed rail or air," JD said.     

New project to develop blockchain for ports of Shanghai and Guangdong

PostTime:2018-09-30 09:07:57 View:64

Technology company Ideanomics signed a Joint Venture (JV) for Exclusive APEC Model E-port Network (APMEN), APEC's online port clearance system, across Asia-Pacific with APMEN Trade Tech. The JV will design an electronic port clearance system based on blockchain. The project will launch the first phase of the operations in two of the biggest ports: Shanghai and Guangdong, which account for nearly half of China's import and export and then it will expand into other APEC countries' ports. The JV aims to improve the electronic ports (e-ports) system with AI and blockchain solutions to extend its existing service from port to port, and warehouse to warehouse. The full implementation of connecting e-ports across the region can save up to half of supply financing cost which is currently 16% -25% in China. The total value of import and export goods of Shanghai and Guangdong ports is combined is 10.5 Trillion yuan ($1.532 trillion), up by 13%.

Shanghai steel rebar rises on Chinese infrastructure push

PostTime:2018-09-20 10:39:50 View:58

Prices for Chinese construction steel rebar rose on Wednesday and were on track for their best one-day performance in over a week, buoyed as the government said it would boost spending on infrastructure. The National Development and Reform Commission (NDRC), the top state planner in the country, said in a news briefing on Tuesday that China would ramp up investment in infrastructure, as well as in agriculture, poverty alleviation and environmental protection. It also said it would speed up construction on infrastructure projects that have already been approved. “(The NDRC statement) helped to shore up the confidence of investors towards steel-demand in the long-term and drove up steel prices,” analysts at CITIC Futures said in a note in Mandarin. Steel consumption from infrastructure projects accounted for nearly 20 percent of total usage of the commodity last year. However, worries over the latest escalation in the tit-for-tat trade dispute between Washington and Beijing could drag on the market. Beijing on Tuesday quickly added $60 billion of U.S. products to its import tariff list in retaliation for President Donald Trump’s planned levies on $200 billion worth of Chinese goods. The most-active rebar contract on the Shanghai Futures Exchange climbed 1.1 percent to 4,177 yuan ($608.71) a tonne, on course for its biggest one-day gain since Sept. 10. Prices of steelmaking raw materials also rose. Dalian iron ore futures had advanced 1.3 percent to 510 yuan a tonne by 0147 GMT. The most-traded coking coal futures edged up 0.4 percent to 1,298 yuan a tonne, while the coke contract for January delivery rose 1.9 percent to 2,321.5 yuan.

Shanghai Changjiang Shipping orders feeder from China's Jiangdong yard

PostTime:2018-09-17 08:37:49 View:42

SHANGHAI Changjiang Shipping, a subsidiary of Sinotrans & CSC, has ordered one 1,140-TEU feeder vessel from Wuhu Jiangdong Shipyard. The vessel is slated for delivery in 2020. The shipping line mainly operates domestic river and coastal shipping services with a fleet eight vessels. The order is the second feeder boxship contract secured by Jiangdong Shipyard in the past two weeks, after Wuhan Xingang Datong Shipping ordered two 500-TEU ships from the yard, reported Splash 24/7.

Shanghai rates rising, but is it panic buying ahead of China trade war?

PostTime:2018-08-07 09:03:44 View:47

THE container shipping world has been cheered by rising spot rates on Shanghai Containerised Freight Index (SCFI) and is now looking forward to a profitable peak season, reports London's Loadstar. The index, which collates rates quoted, shows trade between Asia and the US west coast will see rates rise 10.5 per cent, to US$2,074 per FEU as the peak season gets under way. Good news for carriers comes from the Asia-US east coast with rates rising 8.9 per cent to reach $3,099 per FEU and analysts predicting a year-on-year improvements, noting that 12 months ago rates started to decline. "We expect 2018 will avoid this trend, and that transpac rates over peak season will be around 10-15 per cent above 2017 levels, and Asia-Europe around five per cent," said Maritime Strategies International analyst Daniel Richards. Casting a pall on the happy news is the threat of a Sino-American trade war, with another round of tariffs. "Early indications from US ports and bills of lading processing suggest that June import volumes surged, perhaps suggesting 'panic-buying' as the trade war scenario worsened," said Mr Richards. "While the noise around the imposition of trade tariffs focuses on the mainlane trades, their potential impact will be felt more widely. It now seems unavoidable that the US and China will levy tariffs on the large part, and quite possibly all, of their bilateral trade flows. "The largest effects will be felt on the eastbound transpacific, but the key area to watch is how far tariffs on US imports risk disrupting complex cross-border supply-chains which feed into finished products, and which are especially key to the high density of regional and feeder services in the intra-Asia market," he said. Shanghai rates now have the Far East-North Europe run adding one per cent to $935 per TEU, while the Shanghai-Mediterranean leg declined 1.3 per cent to $881 per TEU.    

Shanghai shipyard starts building world's biggest box ships

PostTime:2018-08-03 09:47:24 View:68

CONSTRUCTION of two of the world's largest containerships with a capacity of 22,000 TEU has commenced. The ships are being built by Shanghai-based Jiangnan Shipyard and Hudong-Zhonghua Shipbuilding and are scheduled for delivery in 2019. The two ships are part of a deal for nine 22,000 TEU vessels signed by French shipping line CMA CGM and China State Shipbuilding Corporation (CSSC) in September 2017, reports Hellenic Shipping News Worldwide, Piraeus, Greece. Each vessel measures 400 metres in length, 61.3 metres in breadth and 33.5 metres in depth and has a deadweight of 220,000 DWT. They can hold 2,200 four-foot refrigerated containers, accounting for one-fifth of the entire carrying capacity. The ships are also the world's first giant containerships powered by liquefied natural gas. Compared to ships using heavy fuel oil, ship engines using LNG emit up to 25 per cent less CO2, 99 per cent less sulphur

Newport Shipping expands with new offices in Athens, New York, Shanghai

PostTime:2018-06-05 08:53:08 View:66

Newport Shipping Group has opened new offices in Athens, New York, and Shanghai as part of the company’s “near customer, near market” efforts, expanding its presence in key ship owning and ship repair communities around the world. The London-headquartered company has existing offices in Istanbul and Singapore. A key aspect of the group’s expansion is to ensure that shipowners with operations in all the major maritime hubs have easy access to its unique ship repair and financing capabilities. Speaking during Posidonia, the world's most prestigious shipping trade event, in Athens, the home of the one of the biggest ship owning communities, ceo Erol Sarikaya said: “The shipping industry requires global capabilities and is dependent on personal relationships. Having offices in key maritime locations means we have local people, with local knowledge on the ground in daily contact with ship owners and shipyards. We have excellent teams in place in each market we serve.” The Athens, Istanbul, Shanghai, and Singapore offices are focused on customers’ ship repair and technical needs while New York and the London headquarters manage Newport’s corporate and international operations. Commenting on the ship repair market, Sarikaya said: “The industry is undergoing tremendous change. The introduction of mandatory requirements to reduce shipping’s impact on the environment, in particular, will have a significant material impact on most ship owners.  “While the larger players are likely to have capital in place for retrofitting ballast water treatment systems, scrubbers and other compliant systems, or to invest in newbuilds, the reality is that ship owners with smaller, older fleets – those that make up the majority of the world fleet – will benefit greatly by minimizing working capital costs in an already capital-intensive industry. “We can support these small to medium-sized operators by financing their retrofits, while they benefit further from the opportunities presented through our cooperation shipyards within the lower cost regions of the Pacific/Atlantic trading zones.” Sarikaya added: “With offices in strategic shipping locations around the world, together with ship repair facilities in China, Turkey, Indonesia and Singapore, all shipowners, big or small, now have comprehensive servicing and financing options available to them for their drydocking and equipment retrofits. We cooperate with highly-skilled and cost-competitive shipyards that can serve owners globally.” Newport Shipping plans to open offices in other locations and announce new cooperation agreements in coming months.