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Shanghai Bestway bags order for two liftboats

PostTime:2015-06-24 08:02:53 View:382

Shanghai Bestway Marine Engineering Design Co has bagged a contract to construct two self-elevating liftboats valued at a total of $116m from its associate firm Zhejiang-based Mekers Machinery. The first of the two liftboats, each priced at $58m, is scheduled for delivery 18 months after the first deposit is made, and the second unit will be delivered 15 months after work has commenced on the first unit, according to an announcement by Shanghai Bestway. Shenzhen-listed Shanghai Bestway said the deal will contribute positively to the company’s earnings in the second half of 2015 and the whole of 2016. It added that the deal is a connected transaction as both Shanghai Bestway and Mekers Machinery are majority owned by the same controlling shareholder.

Shanghai port company SIPG considers stake in Shanghai Jinjiang Shipping

PostTime:2015-04-28 08:46:53 View:395

SHANGHAI International Port (Group) Co (SIPG) has announced it is considering investing in Shanghai Jinjiang Shipping, short-sea container carrier serving the coast and Taiwan Strait. Established in 1983, Shanghai Jinjiang Shipping posted a net profit of CNY75.64 million (US$12.1 million) and a revenue of CNY1.56 billion in 2013, reported Seatrade Global. On the short-sea container shipping sector, SIPG owns Shanghai Haihua Shipping Co (Hasco), which provides container transport from China to Japan and south east Asia.

Shanghai records 5.3% higher box volumes in Jan

PostTime:2015-02-11 09:22:23 View:448

Shanghai, the world’s busiest container port, has posted higher box throughput in January this year compared to the same period of the previous year, according to Shanghai International Port (Group) Co (SIPG). Last month’s volumes were recorded at 3.16m teu, up 5.3% compared to 3m teu seen in January 2014, data from SIPG showed. In 2014, the Chinese port took the crown as the world’s busiest container port for the fifth consecutive year with an annual throughput of 35.29m teu, up 4.5% from 33.77m teu in 2013. Shanghai port, which includes Waigaoqiao port, Yangshan port and Wusong port, handles more than 50,000 ships each year.

Shanghai Bestway ventures into financial leasing

PostTime:2014-12-19 08:33:14 View:585

Shanghai Bestway Marine Engineering Design has ventured into financial leasing with an investment of RMB60m ($9.7m). The investment will go toward the setting up of a joint venture financial leasing company, together with Shanghai Shipping Exchange and six other investors. The new joint venture, named Changjiang United Financial Leasing, will be engaged in the development of inland river shipping services and its related infrastructure, as well as financial services for port and logistics, shipbuilding and related equipment. The registered capital of the new joint venture is RMB1bn with Shanghai Bestway taking a 6% stake. Shanghai Bestway, a ship design firm listed on the Shenzhen Stock Exchange, has developed more than 500 ship types since its establishment in 2001.

Shanghai’s Waigaoqiao port to offer cold ironing facility

PostTime:2014-12-08 08:25:40 View:744

Waigaoqiao port in Shanghai will offer cold ironing services to ships at berth, in a move to reduce pollution from the burning of high sulphur bunker fuel, reports said. The Shanghai Transport Commission said generators will be installed at Waigaoqiao port from next year to provide ships with electricity power, Shanghai Daily reported. The exact timeframe that the cold ironing system will be available is not specify. Apart from equipping the port with cold ironing facility, the commission said it will continue to combat the problem of shipping emissions by preventing old vessles from working on Shanghai’s waterways. Shanghai port, which includes Waigaoqiao port, Yangshan port and Wusong port, is the world’s busiest container port and handles more than 50,000 ships annually. Pollution from ships accounts for 12% of Shanghai city’s total sulphur dioxide emissions, 11% of its nitrogen oxide emissions and about 5% of particulate matter emissions, the report cited official figures.

Asia-Europe Shanghai index spot rates plunge 20.5pc to US$934/TEU

PostTime:2014-11-17 08:01:31 View:1193

SPOT rates for shipping containers from Asia to northern Europe plunged 20.5 per cent to US$934 per TEU in the week ending last Friday, according to the Shanghai Containerised Freight Index, reports Reuters. Last week's fall comes after an 88 per cent hike in the index two weeks ago after Maersk said it would increase rates by $900 when the index was languishing at just under $700 per TEU.  But it was the largest ever weekly decline on the world's busiest freight route since the index began recording rates in 2009. A level below $1,000 is widely seen as a loss-making level for container shipping companies. Container freight rates have so far increased in 12 weeks this year but fallen in 33 weeks. Maersk Line, the global market leader with nearly 600 boxships, recently cut its forecast for global demand in container transport to grow three to five per cent from a previous 4 to 5 per cent expectation. "It's difficult for me to see how market conditions could improve for shipping companies since new vessels are still coming to the market from shipyards," said Sydbank analyst Jacob Pedersen. At the end of the third quarter of 2014, the global container vessel fleet amounted to 18 million TEU, an increase of 5.4 per cent compared to a year ago.  

Columbia Shipmanagement officially opens Shanghai jv

PostTime:2014-11-06 08:01:54 View:416

Columbia Shipmanagement (CSM) has set up in China officially opening a new joint venture with Singhai Marine Services. Columbia Shipmanagement Shanghai was officially opened on 3 November with a ceremony attended by over 150 guests. It is CSM’s fifth office adding to offices in Cyprus, Athens, Germany and Singapore and the company manages a total of 370 ships. Joint venture partner Singhai specialises in crewing and the recruitment, training and supply of seafarers in the Chinese market. “The partnership further presents the opportunity to bring to the Chinese shipping industry, Columbia’s extensive expertise in shipmanagement services and together with a fast growing shipowning community in China, Columbia Shipmanagement Shanghai aims to contribute to China’s global shipping aspirations and enhance the quality and competitiveness of Chinese shipping on an international level,” CSM said.

China increases foreign firm allowable activities in Shanghai FTZ

PostTime:2014-10-08 08:31:49 View:419

CHINA's State Council has eased restrictions in the Shanghai Free Trade Zone (FTZ) to attract badly needed foreign companies, Reuters reports. Newly registered foreign firms are only 12 per cent of the 10,000 firms allowed to operate in the FTZ. Remove Hong Kong and Taiwan concerns and the proportion falls to six per cent. The new changes widen rights ranging from heavy equipment makers to commodity exporters, who can now operate legally, allowing foreign motorcycle manufacturers and aircraft engine makers for the first time. Free from joint-venture requirements, foreign-owned railway bridge and station equipment producers can now set up shop. Ownership restrictions were also lifted on export commodity firms, including cotton, sugar, salt, and cooking oil trade firms. Foreign maritime cargo handlers will be allowed to hold 51 per cent in joint ventures. But the 29-square kilometre FTZ on the outskirts of Shanghai has lost much of its appeal since many of its special rights are common nationwide and are no longer special.  

Top Shanghai FTZ man expected to resign over party 'disciplinary' violations

PostTime:2014-09-17 08:38:38 View:412

THE deputy director of the Shanghai Free-trade Zone, Dai Haibo, the de facto head of the free-trade zone, is suspected of "disciplinary violations" and expected to step down. Mr Dai, also in charge of a taskforce on Shanghai port affairs, made an appearance last week chairing a government conference on ports, but his title as the free-trade zone chief was not used, the South China Morning Post reported. The timing of the Dai probe coincides with a Communist Party investigative team's arrival in Shanghai in late July. Mr Dai, a technocrat who attracts foreign funds to economic zones, had been touted as ideal for the top FTZ job. "He knows what needs to be done to welcome foreign funds and he has a good command of economics and industries," said a Pudong official. "His departure or sacking could slow down progress in developing the free-trade zone." This is regarded as a blow to the already struggling economic project ahead of its first anniversary. "A final verdict has yet to be given, but it's almost certain that he will be at least suspended from the job," said one official. "It's not clear whether he will face further punishment." Mr Dai, 52, might be allowed to remain in his other main role as deputy secretary general of the municipal government, sources said. The administrative committee of the trade zone could not be reached for comment. The sources said the concerns over Mr Dai might relate to previous jobs before his role at the zone.  

Shanghai port handles 3.11m teu in August

PostTime:2014-09-11 08:05:39 View:1910

Shanghai, the world's lagest container port, handled 3.11m teu in August, the highest monthly volumes so far this year, according to figures from Shanghai International Port (Group) Co (SIPG). Last month’s throughput rose 5.4% compared to 2.95m teu recorded in the same month of 2013.Volumes also improved by 1.6% month-on-month, data from SIPG showed. From January to August 2014, the Chinese port handled a total throughput of 23.44m teu, up 5.3% compared to 22.26m teu in the previous corresponding period.

Shanghai container throughput rises 2.8pc to 3.06 million TEU in July

PostTime:2014-08-12 08:30:08 View:446

SHANGHAI port posted a 2.8 per cent July increase year-on-year to 3.06 million TEU, according to figures released from Shanghai International Port (Group) Co (SIPG). On a month-on-month comparison, July volumes inched up 0.1 per cent compared to volumes recorded in June. In the first seven months of this year, the world's busiest container port posted a 20.33 million TEU, an increase of 5.3 per cent.

Shanghai moves higher box throughput in May

PostTime:2014-06-11 08:24:01 View:557

China’s Shanghai port handled a higher volume of containers in May over the previous corresponding period, while volumes remained stable month-on-month. The world’s busiest container port posted container throughput of 3.02m teu in May, up 2.8% compared to 2.94m teu recorded in the same month of 2013, data from Shanghai International Port (Group) Co (SIPG) showed. Last month’s throughput was stable compared to 3.02m teu in April this year. In the first five months of 2014, Shanghai moved a total throughput of 14.21m teu, up 4.7% from 13.57m teu in the same period of last year.