China's marine fuels sales fell by as much as 50% in February as the rapidly spreading coronavirus and prolonged Lunar New Year break strangled freight movement in and out of the global manufacturing powerhouse, trade sources said.The epidemic, which has killed almost 3,000 people and infected about 80,000 in China alone
When President Xi Jinping made his first state visit this year to Myanmar and signed new infrastructure contracts, there was no indication of the obstacle about to trip up China's plan for railways, ports and highways around the world: the coronavirus.Travel restrictions to prevent the spread of the disease, which has now killed more than 1,800 people
China's fast-spreading coronavirus is throwing the global container shipping trade out of sync, with lines re-routing cargoes and reducing calls to Chinese ports, setting the scene for months of delivery delays ahead, industry sources said.The spread of the deadly virus has shut down cities and factories in China and disrupted global air travel.
Freight rates for supertankers on the Mideast Gulf and U.S. Gulf routes to Asia have fallen to their lowest since mid-September as the coronavirus outbreak hit Chinese oil demand, ship brokers told Reuters.China's Sinopec Corp, Asia's largest refiner, and so-called "teapot" independent refineries have reined in operations in the face of plunging consumption.
Hong Kong has suspended cross-border ferry service to and from mainland China as it seeks to prevent the spread of the novel coronavirus.All cross-boundary ferry services to and from the China Ferry Terminal and the Tuen Mun Ferry Terminal have been suspended, Hong Kong's government announced on Wednesday,The government said other modes of transport, including rail and airline service
The Wuhan coronavirus outbreak has placed the shipping industry on high alert amid a rising death toll in China and reports that the fast-spreading illness is reaching new shores.The flu-like coronavirus, first identified in Wuhan, Hubei Province, China on December 31, has killed more than two dozen people in China and is believed to have infected more than 900 worldwide
The White House has reached a "deal in principle" with Beijing to resolve the 17-month U.S.-China trade war, according to a source briefed on the trade talks.The White House was expected to make an announcement later on Thursday, the source said."The written agreement is still being formulated, but they have reached an agreement in principle," the source said.
China on Tuesday formally established China Shipbuilding Group, which the country's government-run broadcaster described as the world's largest shipbuilder.The group's establishment, reported by China Central Television (CCTV), comes after Beijing last month approved the merger of the country's two largest shipbuilders, China State Shipbuilding Corp and China Shipbuilding Industry Co.
Swedish shipping company Terntank has placed orders for two hybrid tankers, which run on liquefied biogas (LBG) and liquefied natural gas (LNG), at China’s AVIC Dingheng Shipbuilding with an option for two more vessels.The 15,000 dwt new-builds with hybrid battery system and on-shore power are designed by Kongsberg (ex Rolls-Royce) and they will be in operation in the Baltic Sea and the North
Chinese oil trader Unipec chartered a supertanker to ship U.S. crude to China in September, trading sources said, the first such cargo since U.S. President Donald Trump announced additional tariffs on Chinese import, ending a monthlong trade truce.Unipec, the trading arm of state refiner Sinopec , has fixed the Very Large Crude Carrier (VLCC) Anne to load U.S.
China's two largest shipbuilders are planning to merge, their listed arms said in separate exchange filings on Monday, the latest to join a wave of mergers among state-owned enterprises as the government overhauls the sector.The move by China Shipbuilding Industry Corp (CSIC) and China State Shipbuilding Corp Ltd (CSSC)
The U.S. military said one of its warships sailed near the disputed Scarborough Shoal claimed by China in the South China Sea on Sunday, angering Beijing at a time of tense ties between the world's two biggest economies.The busy waterway is one of a growing number of flashpoints in the U.S.-China relationship, which include a trade war, U.S. sanctions and Taiwan.