China

Bunkers and Heavy Fuels Inventories Drop To 4-Month Low!

Inventories of bunkers and other heavy distillates have dropped at the port of Fujairah amid an increase in demand.

  • Heavy distillates stood at 8.6 million barrels as of Monday, the lowest since March 4 and down 13% from a week earlier.
  • 380 CST bunker fuel was assessed at $433/mt this week, compared with $466/mt in Singapore and $510/mt in Mumbai.
  • Gasoline rose 11% week on week to 8.158 million barrels and middle distillates, such as jet fuel and gasoil, climbed 6.4% over the same period to...

http://mfame.guru/bunkers-and-heavy-fuels-inventories-drop-to-4-month-low/

East China’s Shandong sees its marine economy increase significantly

East China’s Shandong Province is fully focusing on its advantages to develop the marine economy, by switching gear to new growth drivers. In fact, Shandong faced a marine economy output growth of 1.55 trillion yuan last year, increasing from less than 20 billion yuan in 1991, according to provincial Communist Party Chief Liu Jiayi.

As Xinhua news agency reports, this figure accounts for more than 20% of China’s overall. Currently, Shandong is the only provincial-level area that has three ports...

https://safety4sea.com/east-chinas-shandong-sees-its-marine-economy-increase-significantly/

US-China trade war to affect Hutchison Ports

The amount of outbound cargoes to the US is expected to be volatile for this year as the US-China trade dispute continue. Namely, container port business Hutchison Port Holdings Trust (HPH Trust) is expected to announce its second quarter results ended June 30, 2019, after the market closes, according to IG Bank.

The business trust experiences a 33.4% reduction at HK$96.9 million (S$16.8 million) for its bottom line in the first quarter, which ended in March 31, 2019. In addition, earnings per...

https://safety4sea.com/us-china-trade-war-to-affect-hutchison-ports/

US-China trade war challenges HPH Trust

The volume of outbound cargoes to the US is expected to be volatile for this year as the US-China trade dispute continue.

Container port business Hutchison Port Holdings Trust (HPH Trust) is expected to announce its second quarter results ended June 30, 2019 next Wednesday (24 July, 2019), after the market closes.

The Singapore Exchange-listed trust owns interests in deep-water container port assets located in two of the world’s busiest container port cities by throughput: Kwai Tsing, Hong Kong...

https://container-news.com/us-china-trade-war-challenges-hph-trust/

US and China to lead LNG imports and exports in 2024

The International Energy Agency expects that China and the US will become world’s biggest LNG exporters and importers in five years. The US will surpass Australia’s and Qatar’s LNG exports in 2024, Reuters reports.

Speaking at a presentation sponsored by Columbia University’s School of International and Public Affairs Center on Global Energy Policy in New York, Jean-Baptiste Dubreuil, senior natural gas analyst at IEA stated that American LNG exports are expected to make a giant leap to over 100...

https://safety4sea.com/us-and-china-to-lead-lng-imports-and-exports-in-2024/

SECDEF Nominee Esper Commits to High-End Direction for Pentagon

U.S. Secretary of the Army Dr. Mark T. Esper enters the room before his confirmation hearing at the Dirksen Senate Office Building, Washington, D.C., July 16, 2019. Esper was nominated for Secretary of Defense by President Donald J. Trump on July 15, 2019. (DoD photo by U.S. Army Sgt. Amber I. Smith)

CAPITOL HILL – Maintaining a technological edge, improving the lives of military families and continuing to present potential adversaries with an assured strong U.S. response to hostile acts would...

https://news.usni.org/2019/07/16/secdef-nominee-esper-commits-to-high-end-direction-for-pentagon

China’s trade with Belt and Road countries reaches US$617 billion

China’s trade with countries participating in the Belt and Road Initiative (BRI) marked a robust growth in the first half of this year, according to official data provided by the General Administration of Customs (GAC), on Friday.

Specifically, Chinese trade with BRI countries totaled 4.24 trillion yuan (= USD 617.5 billion) during this period, representing a 9.7% increase year-on-year and outpacing the growth rate of the country’s total trade in the first half of 2019.

Meanwhile, China’s foreign...

https://safety4sea.com/chinas-trade-with-belt-and-road-countries-reaches-us617-billion/

South China Sea ruling is legally binding US highlights

The US highlighted the United Nations arbitral tribunal’s 2016 decision invalidating China’s line claim in the South China Sea is ‘final’ and ‘legally binding,’ as the US is strongly against China’s attempts to assert its ‘unlawful’ maritime claims.

Namely, the US Department of State noted last weekend that breaching the tribunal decision that rejected China’s nine-dash line maritime claim would be against the law.

In fact, on July 12, 2016, the Permanent Court of Arbitration decided that there...

https://safety4sea.com/south-china-sea-ruling-is-legally-binding-us-highlights/

Pigs fever in China affects dry bulk shipping

China’s pork output decreased by less than expected during this year’s first half, with the country facing a devastating disease outbreak. However, official data show conflicting figures regarding the size of the decline in the hog herd. This fact has also affected  dry bulk shipping, with Chinese soybean imports expected to reduce to 84m tons in marketing year 2018-2019 and 83m tonnes in 2019-2020.

As Reuters reports citing figures from the National Bureau of Statistics, China produced 24.7...

https://safety4sea.com/pigs-fever-in-china-affects-dry-bulk-shipping/

Cargotec’s MacGregor has received clearance from the Chinese competition regulator for the acquisition of the marine and offshore businesses of TTS Group

Cargotec’s MacGregor has received clearance from the Chinese competition regulator for the acquisition of the marine and offshore businesses of TTS Group

CARGOTEC CORPORATION,  15 JULY 2019 AT 9.00 EEST

Cargotec’s MacGregor has received clearance from the Chinese competition regulator for the acquisition of the marine and offshore businesses of TTS Group

MacGregor, part of Cargotec, has received a clearance decision from the Chinese competition regulator, SAMR, for the company’s acquisition of the...

http://www.allaboutshipping.co.uk/2019/07/15/cargotecs-macgregor-has-received-clearance-from-the-chinese-competition-regulator-for-the-acquisition-of-the-marine-and-offshore-businesses-of-tts-group/

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