News Bulletins on February 2, 2018 

 

1. Details on China's first batch of free trade ports is expected to be released after the two sessions set to be held in early March this year, China Securities Journal reported Wednesday.
 
2. The Dragon Ascends - Chinese Owners Dominate VLCC Market
Chinese built ships make up 110 ships of the total 227 VLCCs owned by the five largest owners, with South Korea trailing at 98 VLCCs. Chinese owners are well positioned to weather the down cycle with a young fleet on the water poised to capture the upswing over the next several years.
 
3. Vale diversifies away from iron ore despite strong China demand
Continued Chinese efforts to reduce pollution will boost demand for Vale's high quality iron ore, the Brazilian miner's chief executive said on Tuesday, even as the world's top iron ore producer seeks to diversify away from the metal.
 
4. China’s power consumption is expected to rise 5.5 percent in 2018 from the previous year, the China Electricity Council (CEC) said in a statement on Thursday, driven by economic growth and the ongoing coal-to-electricity conversion as part of Beijing’s air pollution campaign.
 
5. A new cargo shipping service, “Water BRT”, went into operation at Guangzhou’s Huangpu Port on January 23rd. The “Water BRT” can ship both domestic and import-export cargoes together, and is expected to bump up the shipping efficiency to about 20 percent in the future.

Sources: Xinde Marine News
Editor: Carrie Zhu

Please Contact Us at：

admin@xindemarine.com