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Northeast Asia Correspondent
Based in Hong Kong, Cichen Shen is the China Editor for Lloyd’s List. He is responsible for covering a wide range of maritime issues, from the Cosco-China Shipping merger and the growth of Chinese lessors to the collapse of Hanjin and the integration between the Japanese carriers.
Cichen is a frequent interviewer of the top business leaders in Asian shipping.
Prior to his role at Lloyd’s List, Cichen worked as a reporter for China’s Caijing Magazine in Beijing and was a local producer for the US National Public Radio and the Canadian Broadcasting Corporation in Shanghai.
Latest From Cichen Shen
Sources says the deal covers 14 Maersk medium range product tankers built between 2016 and 2020 and will see each vessel sold to CDB Leasing for over $30m
Owners are returning to yards fuelled by improved freight market sentiment and low ship prices. However, shipyards must be vigilant about the repercussion of loss-making orders that could be amplified by continued weakening of the US dollar
In its latest report, Gibson argued that ‘carbon taxes might be the only way to make future fuels more competitive’. The ship brokerage also pointed out owners’ reluctance to invest in liquefied natural gas-fueled ships because of a lack of guidance from the IMO
The newbuilding, which is the first suezmax shuttle tanker ordered by a Chinese owner, will serve an offshore oil project operated by CNOOC in Brazil
Buyer hopes the deal will expand its cargo volume and market share in handing pulp, steel, logs and engineering equipment
The recent conflict with DB Schenker does not seem to have changed Maersk’s overall approach to freight forwarders, as the Danish giant aims to maintain the level of their contribution to its business in the next five years