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Russia box operator to exploit 'Belt and Road' from Shanghai

PostTime:2017-10-17 08:28:02 View:677

PJSC TransContainer, Russia's biggest container operator, plans to expand its China business in response to demand between China and Europe under the Belt and Road Initiative, reports China Daily. The TransContainer Freight Forwarding (Shanghai) Co Ltd, a wholly owned subsidiary established in the China (Shanghai) Pilot Free Trade Zone, will serve as the Russian company's headquarters, and focus on port transportation. The Beijing-based Chinese-Russian Rail-Container International Freight Forwarding Co Ltd, a joint venture set up by TransContainer and China Railway International Multimodal Transport (CRIMT) in 2010, is to handle rail transport, said PJCS TransContainer CEO Petr Baskakov. "The Shanghai company can enjoy favourable policies, including taxation of the free trade zone, [and] has three tasks, which are maintenance of the containers, processing of logistics orders, as well as marketing and promoting the company to global market including China," said Mr Baskakov. An affiliated company to the TransContainer Shanghai will be established in South China in 2018, and another two will be established in Qingdao of Shandong province and Chengdu of Sichuan province in 2019, he said. The Port of Shanghai handled 37.13 million TEU in 2016, taking the lead among global container ports for seven consecutive years. China contributes about 30 per cent of TransContainer's global transportation volume and revenue for the moment, up from 15 per cent of 2010, the largest contributor after Russia. "Cargo transition volume has surged tremendously between China and Europe, as well as between China and Russia, thanks to the Belt and Road Initiative," Mr Baskakov said. Against a global economic slowdown, bilateral trade volume between China and countries and regions related to the initiative reached CNY6.3 trillion (US$955.5 billion) in 2016, up 0.6 per cent year on year, said Song Lihong, an official from Ministry of Commerce. The decision to set up the Shanghai subsidiary was made by the company's board of directors in February this year, in an attempt to consolidate TransContainer's positions in intermodal transportation between Russia and China, including via sea routes. "TransContainer hoped... the Shanghai subsidiary (would) enhance service quality and broaden service field of multi-modal container transportation between China and Russia," said Mr Baskakov.  

Cosco Shipping’s LNG vessel owning unit inks $112m loan from BoCom HK

PostTime:2017-09-13 08:24:33 View:411

Cosco Shipping Development Co’s (CSDC) vessel owning subsidiary Oriental Fleet LNG 01 Limited has secured $112m of loans from Bank of Communications Hong Kong Branch (BoCom HK). Oriental Fleet LNG 01 owns the 2014-built, 160,000 cu m LNG carrier Golar Crystal that it purchased at a price of $187m from Golar LNG unit Golar Hull in March this year and leased back to Golar Hull for 10 years. CSDC said the BoCom HK loan will be for a period of 10 years and the funds will be used for general working capital and business expansion.

Shanghai port moves higher container volumes in August

PostTime:2017-09-13 08:21:47 View:1048

China’s Shanghai port has moved higher container volumes in August compared to the same month of last year, according to figures released by Shanghai International Port (Group) Co (SIPG). In August, the Chinese port of Shanghai registered throughput of 3.46m teu, an increase of 4.5% compared to 3.31m teu recorded in the same month of 2016, data from SIPG showed. Last month’s volumes were relatively stable compared to 3.44m teu seen in July this year. In the first eight months of 2017, Shanghai port posted a total throughput of 25.5m teu, representing a hike of 4.2% compared to 24.47m teu handled in the previous corresponding period.  

Shanghai port moves higher volumes in June

PostTime:2017-07-13 08:44:15 View:360

China’s Shanghai port has handled higher container volumes in June compared to the year-ago period, according to figures released by Shanghai International Port (Group) Co (SIPG). Last month, the world’s busiest port moved 3.4m teu of containers, an increase of 8.3% compared to 3.14m teu recorded in June 2016, SIPG figures showed. On a month-on-month comparison, volumes were down by 4% from 3.54m teu in May this year. From January to June 2017, Shanghai port posted a total throughput of 19.6m teu, a hike of 9.6% compared to 17.89m teu seen in the same period of last year.

Shanghai port container volumes gain 14.6% in May

PostTime:2017-06-20 08:34:58 View:336

China’s Shanghai port, the world’s busiest container port, has registered higher box volumes in May, according to statistics from Shanghai International Port (Group) Co (SIPG). Last month the Chinese port handled throughput of 3.54m teu, representing a 14.6% increase compared to 3.09m teu recorded in the same period of 2016, SIPG data showed. Box volumes in May also rose by 7.9% compared to 3.28m teu seen in April this year. From January to May 2017, Shanghai port posted a total throughput of 16.21m teu, up 9.9% compared to 14.75m teu in the previous corresponding period.

Shanghai Shipyard lands order to build two bulk carriers

PostTime:2017-06-01 08:35:30 View:394

Shanghai Shipyard, subsidiary of China State Shipbuilding Corp (CSSC), has clinched an order to build a pair of 100,800 dwt dry bulk carriers for Estonia’s Platano Eesti. The shipbuilding contract comes with an option for one more similar vessel, the local media reported. Financial details of the deal and the delivery dates were not disclosed. The new bulkers will be designed by Shanghai Merchant Ship Design and Research Institute (Sdari) and classed by Lloyd’s Register (LR).

Anglo-Eastern Shipmanagement opens office in Shanghai

PostTime:2017-04-07 08:39:55 View:476

HONG Kong-headquartered Anglo-Eastern Shipmanagement, has opened a manning office in Shanghai to meet growing demand for Chinese crew and officers from shipowners. The new joint-venture company is Anglo-Eastern Sinoship Ship Management (Shanghai) Co. Ltd and was formed with local partners Shanghai Sinoship Seafarer Management Co., Ltd, according to a company statement. Sinoship ranks as one of the five biggest crew service companies in China, with Chinese crew members working on about 100 ships with an additional 150 officers and ratings. The new company's seafarers are skilled in different vessel types including pipe-laying barges, marine cable-laying workboats, floating cranes, wind turbine installation vessels, AHTS, offshore drilling platforms, scientific exploratory ships, bulk carriers, container ships, general cargo ships, log carriers, chemical and oil tankers. Executive chairman of Anglo-Eastern Univan Group, Peter Cremers, commented: "We are delighted to open our first dedicated manning office in China with our long-term partners at Sinoship Seafarer Management. There is growing demand for Chinese seafarers from shipowners and this partnership will support our goal of building a pool of well-trained local crew." Managing director of Sinoship, Zhang Chuodi, said: "We have worked with Anglo-Eastern for many years and we are proud to partner with one of the world's leading shipmanagement companies. Together we are aiming to build the leading seafarer management company in China."  

Anglo-Eastern opens crewing office in Shanghai

PostTime:2017-04-06 08:40:49 View:301

Anglo-Eastern Shipmanagement has opened a joint venture new manning office in Shanghai to meet a growing demand for Chinese seafarers. The office is in partnership with Shanghai Sinoship Seafarer Management, one of the five largest crewing companies in China. The company will provide seafarers across a wide variety of vessel types. “There is growing demand for Chinese seafarers from shipowners and this partnership will support our goal of building a pool of well-trained local crew,” said Peter Cremers, executive chairman of Anglo-Eastern Univan Group, speaking at the opening ceremony. “Together we are aiming to build the leading seafarer management company in China,” said managing director of Sinoship Zhang Chuodi.  

Shanghai registers slight increase in February box volumes

PostTime:2017-03-13 09:07:13 View:587

China’s Shanghai port has registered a small increase in container throughput for February compared to the year-ago period, according to data from Shanghai International Port (Group) Co (SIPG). Box volumes for last month were recorded at 2.65m teu, inching up 2.3% from 2.59m teu seen in February 2015, SIPG data showed. On a month-on-month comparison, however, February volumes fell by 19.7% from 3.3m teu handled in January this year. In the first two months of 2017, Shanghai port moved a total throughput of 5.95m teu, up 1.1% compared to 5.53m teu posted in the same period of last year.

Cosco Shipping Specialised Carriers posts 73% plunge in 2016 profit

PostTime:2017-01-24 09:37:45 View:321

Shanghai-listed Cosco Shipping Specialised Carriers has posted a sharp fall in net profit for 2016 compared to the previous financial year due to the sluggish shipping market. Profit for the financial year ended 30 December 2016 was recorded at RMB39.08m ($5.7m) for the Chinese shipowner, a plunge of 73.2% from the gain of RMB145.58m in 2015. Revenue for the year was registered at RMB5.88bn, down 14% year-on-year due mainly to lower shipping demand, the company announced. Cosco Shipping Specialised Carriers formally adopted the new name in December 2016, dropping its old name Cosco Shipping Company Limited (Coscol), in line with an organisational reform of its parent firm China Cosco Shipping Corporation Limited (Cosco Shipping).

CSIC projects profitable 2016 despite challenging market

PostTime:2017-01-11 08:59:19 View:194

Shanghai-listed China Shipbuilding Industry Corp (CSIC) has alerted investors to a full year 2016 profit as opposed to the heavy loss recorded in 2015. The state-owned shipbuilder announced to the stock exchange that it has projected a profit of RMB500m ($72m) to RMB700m for 2016, as against the deficit of RMB2.62bn for 2015. CSIC said that amid strong headwinds in the shipping market last year, the group had managed the challenges through cost cutting measures, streamlining operations and raising competitiveness on the global stage.

Shanghai to top last year's record volume of 36.54 million TEU in 2016

PostTime:2016-12-12 08:21:46 View:408

THE world's biggest container port - Shanghai - looks likely to beat its container throughput record of 36.54 million TEU set in 2015, after hitting 34.04 million TEU in the first 11 months of 2016. Shanghai International Port (Group) Co (SIPG) said the port handled 3.22 million TEU in November, bringing the total volume for the first 11 months to 34.04 million TEU, up 1.9 per cent from 33.42 million TEU seen in the same period of 2015, and just 2.5 million TEU short of last year's total annual volume. Shanghai is expected to retain its status as as the world's busiest port ahead of Singapore, which posted a 25.57 million TEU throughput the first 10 months, 8.47 million TEU short of Shanghai volumes in the same period.