Asia Pacific
China
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CCB Leasing orders Sumec ultramax pair backed by Bohai Ocean charters
A pair of firm 64,000 dwt conventional-fuel dry bulkers were placed at Sumec’s subsidiary New Dayang Shipbuilding, with more to follow
Seacon expands fleet with chemical tanker order
Deal comes after Seacon ordered another four chemical tankers of the same size and four MR tankers in China last month
The week in charts: Houthi attacks will continue | Newbuilding prices set to rise | Ship recycling recovery on hold | Chinese demand props up Russia oil exports
Robust weapons supply chain continues to support Houthi firepower, shipbuilders’ bulging orderbooks mean prices are set to creep up in 2024 and Russian crude oil imports hit eight-month high in China
Ex-CNOOC president ensnared in Beijing’s graft crackdown
Li dedicated nearly his entire career to the Chinese oil and gas major. His case demonstrates that Beijing's anti-corruption campaign among government officials and state-owned enterprise executives is still ongoing
Shanghai sets sights on expanding shipping futures
Container futures contracts based on the Shanghai Container Freight Index of Settlement have shown active trading since their launch in August of last year
Cosco unit partners with Xiamen Leasing on ultramax newbuilds
Deal seems to be the Chinese lessor’s first attempt to seriously scale up its shipping portfolio with the support of Cosco Shipping
Japan
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Mitsui OSK and Allianz sue Volkswagen over Felicity Ace blaze
Casualty caused by lithium-ion battery on Porsche vehicle, plaintiffs contend
MOL, K Line push on with carbon capture projects
MOL is working on a second CCUS project in Australia. K Line has brought in strong players to its Malaysian project to inject and store carbon dioxide
Cetus Maritime continues consolidation drive via merger with Nachipa
Cetus says its fleet is now 75% eco-ships, with the addition of Nachipa’s Japan-built, modern handysizes
WinGD and Mitsubishi achieve milestone initial design of ammonia fuel supply system
Collaboration will ensure that auxiliary systems and integration capability are in place to apply WinGD’s engine designs
US announces port cyber security initiative
The White House has unveiled an initiative to bolster cyber security in US ports that will expand the US Coast Guard’s authority to respond to malicious online activity, amid growing concerns that nefarious actors could jeopardise critical port infrastructure and supply chains
NYK teams up with Chile’s Enaex for low-carbon ammonia supply
Chilean firm Enaex aims to produce 18,000 tons of green ammonia per year by 2025
South Korea
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DP World strengthen integrated logistics with Busan investment
The investment in Busan marks another step for the Dubai-headquartered port giant in its strategic shift towards integrated supply chains solutions
HD KSOE lands four more VLCCs as ordering accelerates
Year-to-date VLCC order count has reached 23 ships, surpassing the 18 ordered in all of 2023 and three in 2022
South Korea unveils $7bn strategy to maintain shipbuilding edge over China
On top of massive investments, the public-private partnership also pledges to train 2,000 shipbuilding professionals in the country every year, as well as promote investment overseas to tackle labour shortages
Hanwha Ocean signs MOU to build 12 LNG carriers for Middle East shipper
So far, the second phase of QatarEnergy’s fleet expansion project has reportedly included agreements for 52 vessels
Hanwha completes HSD Engine takeover to boost green marine propulsion
Hanwha Group says the acquisition will let the conglomerate offer broader services from shipbuilding to engine production, and to strengthen development of cleaner ship engines
Hanwha Ocean wins big VLCC newbuilding contract
Hanwha Ocean, formerly known as Daewoo Shipbuilding & Marine Engineering, recently emerged from a takeover exercise, and has signed its biggest single contract in 16 years. The company is trying to turn itself around, but still posted an operating loss of Won197bn in 2023
Australia
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The Lloyd’s List Podcast: Sexual harassment, assaults, bullying and silence: Australia’s first female marine engineer reveals all
On International Women’s Day, Stephanie Zank tells Lloyd’s List her story about being a trailblazer in the world of shipping
Singapore and Australia ink pact to develop green shipping corridor
Agreement adds to some 40 similar initiatives signed over the past two years, which have yet to translate into actual carbon-free vessel operations
MOL, K Line push on with carbon capture projects
MOL is working on a second CCUS project in Australia. K Line has brought in strong players to its Malaysian project to inject and store carbon dioxide
BHP sees India continuing to drive iron ore, coking coal demand
BHP forecasts a small further improvement in global steel production with growth led by India, Southeast Asia and to a lesser extent China over the next two years
Australia’s ports continue to face congestion and delays
Shippers in Australia are facing higher costs and disruptions. Vessels are being delayed by up to 10 days in worst-affected ports
Japanese lines forging into CCS market
MOL is working with a compatriot energy company to develop a carbon capture and storage value chain to Australia. Estimates anticipate the import of up to 5m tonnes per annum to the Moomba CCS project by 2030
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