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Shanghai port's news

HK box volume off 1.4pc in Oct, Singapore surges 17pc and Shanghai up 5.6pc

PostTime:2017-11-17 08:39:04 View:7

HONG Kong's container volume dipped 1.4 per cent in October to 1.66 million TEU compared to 1.68 million TEU in the same month last year, according to statistics from the Hong Kong Maritime and Port Board. Most of Hong Kong's volume is from the container terminals at Kwai Tsing that handled 1.31 million boxes in October, down 0.9 per cent over the same month last year. Boxes handled by the other terminals in Hong Kong dipped 3.1 per cent to 350,000 TEU compared to 361,000 TEU in October 2016. Export container units in October were down 2.4 per cent to 689,000 TEU from 706,000 TEU in the same month in 2016. Imports totalled 620,000 TEU, 0.8 per cent higher than in October last year. It was a bumper month for the port Singapore - handling 2.96 million container units in October, a surge of 17 per cent over the same month in 2016. The world's busiest port Shanghai handled 3.3 million TEU, a year-on-year increase of 5.6 per cent.  

Shanghai box volumes up 7.7% in September

PostTime:2017-10-16 08:44:51 View:10

The Chinese port of Shanghai has handled more containers in September compared to the year-ago period, but volumes fell on a month-on-month comparison, according to statistics from Shanghai International Port (Group) Co (SIPG). In September, Shanghai port moved box volumes of 3.37m teu, up 7.7% compared to 3.13m teu in the same month of last year, data from SIPG showed. Last month’s throughput, however, dipped by 2.6% compared to 3.46m teu recorded in August this year. In the first nine months of 2017, Shanghai port registered a total throughput of 28.87m teu, an increase of 4.6% compared to 27.6m teu posted in the previous corresponding period.

Tsuneishi Shipbuilding opens Shanghai office

PostTime:2017-09-21 08:44:15 View:17

Japan’s Tsuneshi Shipbuilding announced on Tuesday that it has established a representative office in Shanghai, China in a move to strengthen working relationships with Chinese shipowners. Tsuneishi Shipbuilding said the new Shanghai office is an expansion of its operations in China where the group already operates Tsuneishi Group (Zhoushan) Shipbuilding in Zhoushan city in Zhejiang province. “Chinese shipowners are progressing rapidly as the Chinese government advocates the Belt and Road initiative with the target of becoming a maritime trade superpower,” Tsuneishi Shipbuilding stated. “The objective of the Shanghai office is to strengthen relationships with these shipowners by regularly calling on them and conducting market research, thereby gathering information on a timely basis for more effective and efficient business expansion,” it added.

Beijing approves OOIL sale to Cosco with Shanghai Port owning 9.9pc

PostTime:2017-09-11 08:08:50 View:37

CHINA Cosco Shipping's purchase Hong Kong's Orient Overseas International Ltd (OOIL), parent of Orient Overseas Container Line (OOCL), was approved this week by the regulating State-owned Assets Supervision and Administration Commission, it was announced. OOIL stated that the Chinese state-run buyer received clearance from the commission to move forward with the sale. After finalisation, Cosco will own 90.1 per cent of OOIL, while Shanghai International Port Group will hold 9.9 per cent. Cosco is now the fifth biggest container carrier in the world in terms of operating fleet capacity, while OOCL clocks in at seventh place, according to ocean carrier schedule and capacity database BlueWater Reporting's Carrier Ranking tool.  Based on present figures, the combined entity would operate vessels with an aggregate capacity of 2.19 million TEU, making it the world's third largest ocean carrier.

Shanghai-Yangshan to be world's most automated port in December

PostTime:2017-09-06 08:21:29 View:28

SHANGHAI's Yangshan Deep Water Port will start operating seven new berths from December 10, boosting the harbour's annual handling capacity to 40 million containers. As many as 130 automated guided vehicles (AGVs) will be deployed at the port, the largest number of automatons installed in any container terminals worldwide, reports Hong Kong's South China Morning Post. The seven new berths of the CNY12.8 billion (US$1.95 billion) fourth phase of the port will boost the total capacity 11 per cent, or by four million TEU, eventually expanding to 6.3 million TEU a year.  A press officer said the harbour is equipped with some of the most advanced cranes, lifts and carriers with the latest technology in loading, discharging and transshipping cargo quickly and safely.   

Shanghai Stock Exchange wants more clarity on Cosco Shipping-OOIL deal

PostTime:2017-07-20 11:38:10 View:46

The Shanghai Stock Exchange (SSE) has asked Cosco Shipping Holdings to provide further details on its recently announced offer to takeover Orient Overseas (International) Limited (OOIL), including a clarification on the listing status of OOIL on the Hong Kong Stock Exchange (HKSE). On 9 July, China Cosco Shipping Corp (Cosco Shipping), parent of the Shanghai-listed Cosco Shipping Holdings, tabled a $6.3bn offer to acquire 429,950,088 OOIL shares representing 68.7% of issued share capital, with Cosco Shipping assuming 58.8% and Shanghai Port International Group (SIPG) taking the remaining 9.9% stake. The remaining 31.3% of shares will be validly tendered for acceptance by Cosco Shipping under the offer. While Cosco Shipping mentioned that it intends to maintain the listing of OOIL shares on Hong Kong, there is a possibility that the public will hold less than 25% of the shares. This prompted the SSE to raise a point that the less than 25% public ownership of OOIL shares “may not fulfil the listing requirements on HKSE”, requiring Cosco Shipping to provide clarifications. With the offer for each OOIL share at a premium of approximately 55.2% over its average closing price of HKD50.69 for the 30 trading days immediately prior to 6 July 2017, the offer is deemed attractive enough to entice possibly many shareholders to accept the offer and thus dilute the public ownership to less than 25%. Another point raised is that with Cosco Shipping mentioning that the takeover deal is subject to antitrust approval from authorities including those in the US and EU, the SSE questioned if the deal may still fall through and the impact and risk associated with a failed takeover. The Shanghai stock exchange also asked Cosco Shipping to include comments from financial advisors and accountants on how the $6.3bn offer has been arrived. Other clarifications raised by the stock exchange include a need to reveal the names of all external financial creditors and adjustments to their loan arrangements, if applicable, and the potential impact if the creditors demand for early repayment of their loans.  

Three Belt and Road indices are launched by Shanghai Shipping Exchange

PostTime:2017-07-17 16:43:09 View:42

THE Shanghai Shipping Exchange (SSE) has launched a Belt and Road trade index, a Belt and Road freight volume index, and a Maritime Silk Road freight index, to track freight trade data generated by the countries involved in the massive transport infrastructure development initiative. Tom Miller, author of the just published, China's Asian Dream: Empire Building along the New Silk Road, believes shipping will benefit enormously from the One Belt One Road initiative (OBOR) despite increased spending on rail freight infrastructure, reported Splash 24/7. "I don't see a big shift to overland freight," said Mr Miller. "Conventional shipping is cheaper and most consumer goods do not need to be delivered in two weeks. The volumes will grow as more rail routes and services are added, but it's not realistic to expect overland freight to account for more than few per cent of overall freight volumes." Chairman of BW Group Andreas Sohmen-Pao agrees the OBOR project will be a massive boon for shipping. Speaking at a seminar at Nor-Shipping in Oslo last month, Mr Sohmen-Pao said OBOR covers an area that constitutes two-thirds of the world's population and one-third of world GDP. The BW chairman said that in the last two years China had signed 26 trade agreements, creating 56 new economic trading zones in 21 nations, and predicts the figures will double within a couple of years.  

HK up 10pc in April to 1.74 million TEU, S'pore by 7.5pc, Shanghai by 4.9pc

PostTime:2017-05-18 08:30:47 View:90

FIGURES from the Hong Kong Maritime Port Board showed the harbour handled 1.74 million TEU in April, representing a year-on-year increase of 10 per cent.  The container turnover of the port of Hong Kong increased 12.7 per cent year-on-year to 66.58 million TEU in the first four months of 2017.  Singapore's Maritime and Port Authority reported a 7.5 per cent increase in container movement in April, having handled 2.72 million TEU. This brought first four months container throughput to 10.33 million TEU.  The Shanghai International Port (Group) Co (SIPG) posted a 4.9 per cent jump in year-on-year container volume to 3.28 million TEU. For the first four months of 2017, the world's busiest container port Shanghai recorded a total throughput of 12.67 million TEU, a climb of 8.7 per cent compared to the same period in 2016.  

HK up 17pc in March to 1.7 million TEU, S'pore by 6.7pc, Shanghai by 14pc

PostTime:2017-04-20 08:31:31 View:62

FIGURES from the Hong Kong Maritime Port Board showed the harbour handled 1.77 million TEU in March, representing a year-on-year increase of 17.1 per cent.  The container turnover of the port of Hong Kong increased 12.6 per cent year-on-year in the first three months of 2017.  Singapore's Maritime and Port Authority reported a 6.7pc increase in container movement in March, having handled 2.69 million TEU. This brought first quarter container throughput to 7.61 million TEU.  The Shanghai International Port (Group) Co (SIPG) posted a 14.3 per cent jump in year-on-year container volume to 3.43 million TEU. For the first quarter of 2017, the world's busiest container port Shanghai recorded a total throughput of 9.39 million TEU, a climb of 9.9 per cent compared to 8.35 million TEU registered in the same period of 2016.  

Shanghai's Yangshan hit by massive congestion as dock chaos spreads

PostTime:2017-04-19 08:32:14 View:159

SHRINKING capacity, dense fog and bad weather has resulted in serious congestion at the Shanghai-Yangshang ports causing ships to divert when they cannot make berthing windows. "Our vessels have been impacted by the congestion at the Yangshan due to bad weather," Maersk told American Shipper, adding that many ships remain at sea waiting for conditions to improve before attempting to enter the harbour. Nicolas Vittori, network manager for France-based Setcargo, also blamed carrier over booking. "Containers Chinese exporters deliver are left stranded at the port without being loaded onto ships," he said. The congestion is aggravated by a recent shortage in container capacity in the eastbound Europe-Asia trade, which prompted the European Shippers' Council (ESC) to issue a warning in March of trouble ahead.  From April 1, the number of mega alliances fell from four to three, leaving "THE" Alliance, the OCEAN Alliance and the 2M still standing - and the members of the east-west vessel sharing agreements are still rationalising their networks in the face of new demands. "The disorder has a more serious impact than the one caused by the installation of the alliances two years ago," said the ESC. "And it comes after the Hanjin bankruptcy." Europe-to-Asia shippers are faced with being unable to meet their contractual obligations or to offer boarding slots before May, the council said.  Container booking prices have spiked as much as 45 per cent in the trade, and 2M alliance members have stopped accepting orders due to the capacity shortfall. "This translates into missed sales, stock failure and significant extra costs as some exporters are trying to circumvent these obstacles by using other modes," the ESC said.    

Shanghai port box throughput soars 14pc to 3.4m TEU in March

PostTime:2017-04-12 08:45:24 View:85

CHINA's Shanghai port handled a total of 3.43 million TEU in March, a 14.3 per cent increase compared to the year-ago period, according to figures from Shanghai International Port (Group) Co (SIPG). Last month's throughput surged 29.6 per cent compared to February's volume of 2.65 million TEU, data from SIPG showed, according to Seatrade Maritime News, Cochester, UK. For the first quarter of 2017, the world's busiest container port Shanghai recorded a total throughput of 9.39 million TEU, a climb of 9.9 per cent compared to 8.35 million TEU registered in the same period of 2016.

Shanghai port records higher container volumes in March

PostTime:2017-04-11 08:49:58 View:218

China’s Shanghai port has posted 14.3% increase in container volumes in March compared to the year-ago period, according to figures from Shanghai International Port (Group) Co (SIPG). In March 2017, the Chinese port handled 3.43m teu of throughput, up 14.3% from 3.01m teu in the same month of last year, data from SIPG showed. Last month’s volumes also rose 29.6% compared to 2.65m teu moved in February this year. For the first quarter of 2017, the world’s busiest container port Shanghai recorded a total throughput of 9.39m teu, a climb of 9.9% compared to 8354m teu registered in the same period of 2016.