China’s five globally systemically important banks would have a shortfall in their total loss absorption capital (TLAC) of 1.6 trillion yuan ($221 billion) by January 2025, Fitch Ratings estimates, indicating huge strains on the lenders’ capital buffers. Five of China’s largest state-owned lenders...
China said it “firmly opposes” the U.S. investigation into its maritime, logistics and shipbuilding industries, calling the move a “mistake on top of a mistake.” In an official statement late Wednesday, China’s ministry of commerce said the U.S. provides hundreds of billions of dollars in...
The new UK legislation implements an international convention prohibiting the use of cybutryne in marine paints, which has been proven harmful to marine flora and fauna, working its way into the food chain. Coming into force on 10 May 2024, the regulations apply to all UK flagged ships, wherever...
IAPH had a total of six submissions to last week’s IMO Facilitation Committee meeting (FAL 48). Along with the proposal calling for a cyber-secure Maritime Single Window (MSW), IAPH co-authored a paper with the World Customs Organization (WCO) providing an overview of the joint guidance on...
https://www.hellenicshippingnews.com/five-further-iaph-submissions-at-imo-fal-48/
The Zero Emission Maritime Buyers Alliance (ZEMBA), an alliance of freight buyers that includes major retailers — like members Amazon, IKEA and Nike — announced that global container shipping company Hapag-Lloyd has won its first tender for ocean shipping. This tender will achieve at least a 90%...
China’s jet fuel exports in March surged to 1.98 million metric tons, up 77.4% from the previous year, as international flight volumes ramped up, General Administration of Customs data showed on Thursday. Domestic jet-kerosene demand continues to benefit from a fully recovered domestic travel...
https://www.hellenicshippingnews.com/chinas-march-jet-fuel-exports-jump-77-4-from-a-year-earlier/
China’s March imports of aluminium surged 89.8% from a year earlier, customs data showed on Thursday, boosted by better demand prospects from the world’s biggest consumer of the metal. The country imported 380,000 metric tons of unwrought aluminium and products – including primary metal and...
https://www.hellenicshippingnews.com/chinas-march-aluminium-imports-jump-90-amid-demand-optimism/
USD: FX to trade only on geopolitics today It was reported overnight that Israel launched a retaliatory strike on the Iranian city of Isfahan. For now, it appears that Iranian media are downplaying the size of the attack, and reassured that nuclear facilities have not been affected. The news has...
https://www.hellenicshippingnews.com/fx-daily-middle-east-turmoil-strengthens-dollar-position/
The output of raw coal in north China’s Shanxi Province, a leading coal producer of the country, totaled about 271.62 million tonnes in the first quarter of 2024, down 18.9 percent year on year, local authorities said Thursday. The figure accounted for about 24.6 percent of the country’s coal...
Herberg Systems and Marine Traffic/ Kpler are pleased to announce they have entered into a sales partnership, combining Herberg’s long-lasting experience in developing and selling software products to the Northern European shipping market with Kpler’s powerful software suite Marine Traffic Inbox....
https://www.hellenicshippingnews.com/herberg-systems-and-kpler-sign-sales-partnership/