1.China Petrochemical Corporation (Sinopec) has received approval by the Shandong province to expand its liquefied natural gas terminal.When the approved expansion is complete the facility located in the port of Qingdao will have the capacity to handle 7 million tons of LNG per year, Reuters reports.

 

2.The LNG carrier‘Christophe de Margerie’set this new record while delivering LNG cargo from the Yamal LNG plant at Sabetta to the port of Tangshan,China.On 31 July, the vessel successfully berthed at her destination port.In total,it took 18.5 days to travel from Sabetta to China.

 

3.As shipping is transporting around 80% of global trade by volume,the security of maritime trade is paramount.To address this issue, IMO organized a workshop in Ningbo,China,from 23 to 27 of July.

 

4.Ratings agency A.M.Best has applauded a recent agreement that gives qualified reinsurers in Hong Kong preferential regulatory treatment over offshore reinsurers is expected to boost Hong Kong’s standing as a risk management hub in Asia providing reinsurance capacity and expertise, according to a new A.M. Best briefing.

 

5.China contributed 32.6% of global gas consumption growth in 2017, becoming the single biggest factor fueling global gas consumption.The review said global renewable energies consumption was led by China, which accounted for 36 percent of global renewable energies consumption growth.

 

6.Attempts to assess China’s macro-economic outlook have been complicated by the ongoing trade dispute with the USA.Greater negative risks are implied by trade tension. So far, consequences for China have been limited and the economy has performed solidly.

 

7.Hudong-Zhonghua Shipbuilding(Group)Co., Ltd is China's only LNG ship builder.A liquefied natural gas carrier is an important part in the LNG supply chain.It's a tanker ship designed for transporting LNG at a temperature of minus 163 ℃.Only a handful of nations can build such ships.

 

8.China's iron ore prices fell heavily on August 1, suffering the largest decline in a month.
XINDE MARINE NEWS editor：Anita

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