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Asia Pacific

Set Alert for Lloyd's List Regional :: Asia Pacific

Chinese lessors warn on rising shipping defaults

But bank-backed leasing houses are said to be financially confident as they can tap the inter-bank market for liquidity rather easily

Asia Pacific Containers

Singapore exempts maritime from virus-linked suspension

Prime Minister Lee Hsien Loong said the suspension would not apply to economic sectors deemed ‘strategic’ or that ‘form part of a global supply chain’

Singapore Regulation

Register now for the Lloyd’s List Future Fuels Webinar

Join shipping and bunker industry experts to discuss how the sector will fuel its future and what businesses can do to mitigate risk and transition effectively.

Singapore Maritime Week Environment

CDB Leasing orders $188.9m ultramax octet

Chinese lessor intends to charter the newbuilds to an independent third party upon delivery

Asia Pacific Dry Bulk

Keppel closes some shipyard operations over coronavirus cases

There are four known cases. Employees working on the Liza Unity FPSO and the Coral South turret project are said to be among those diagnosed positive

Singapore Shipbuilding

Seafaring should be considered an essential service

The UK is one exception to have moved to categorise seafaring as an essential service, which goes to promoting seafarer welfare in trying times such as the current coronavirus outbreak

Coronavirus Ports and Logistics
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China

Set Alert for Lloyd's List Asia Pacific :: China

Equipment supply moves from shortage to congestion

Deluge of containers heads to Europe and US in face of collapsing demand

Asia Pacific China

Regulator to examine challenges facing US supply chain system

‘We know shippers do not have sufficient access to refrigerated containers, ports are facing excess numbers of empties, and terminals and warehousing facilities are dealing with operational difficulties’ — commissioner Daniel Maffei

United States China

China Merchants Port warns on weakening economic outlook

Chinese port giant reports the slowest container throughput growth since 2009

China Containers

Lifting Trump's tariffs on China could boost the medical supply chain

Former World Bank president Robert Zoellick recently observed that after President Trump hit Chinese medical suppliers with a 25% tariff in 2018, China’s exports to the US dropped by 16%

International China

CIMC foresees further decline in container demand

The company’s container manufacturing business saw its net profit fall 92.8% in 2019, while revenue dropped by 36.1%

Asia Pacific Containers

New York-New Jersey port keeping throughput on track

‘I’m reluctant to really talk too much beyond April and May,’ he says, adding that ‘we'll start seeing that cargo by the second week in April and extending into May’

Containers Ports and Logistics
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Japan

Set Alert for Lloyd's List Asia Pacific :: Japan

Asahi to build first battery-powered tankers

The vessels, which will each have large-capacity lithium-ion batteries, will operate in the Tokyo Bay area

Tankers and Gas Technology and Innovation

Imabari finalises tie-up with JMU as Japan looks to merge yards

Japanese shipbuilders are under increasing pressure amid dismal market conditions and intensifying competition from their foreign rivals in China and South Korea who have embarked on M&A moves

Asia Pacific Japan

Hiroaki Sakashita to head ClassNK

Mr Sakashita pledged to continue the group’s work ‘to assure the safety, environmental performance and quality of new technologies or concepts’

Japan ClassNK

Australia’s LNG exports to Japan show a fall in February

While exports to China may have held up over last year’s levels, delays and diversions seen in at least 11 cargoes could be signs of early cracks in Australia-China LNG trade

Australia Tankers and Gas

Japan LNG spot rates plummet

Spot rates record lowest rate since data became available in March 2014

Japan LNG

Cashflow critical to liner shipping carriers

Since January 25, 544 out of some 1,300 international-trading boxships on intra-Asia routes had experienced service suspensions of seven to 30 days leading to about $220,000 losses per ship on average from charter and bunker costs, according to estimates by SITC 

Containers Finance
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South Korea

Set Alert for Lloyd's List Asia Pacific :: South Korea

Heung-A Shipping undergoes KDB-led debt overhaul

The South Korean shipping company has reported losses since 2016 and saw its debt-to-equity ratio spike fivefold over the past three quarters

Tankers and Gas Finance

Coronavirus disrupts scrubber retrofits

The dry bulk sector appears to have greater exposure to coronavirus-led delays in scrubber retrofits compared to container shipping

Dry Bulk Ship repair

Polaris Shipping to remove fuel from Stellar Banner

The vessel remains stable, while underwater inspections are being conducted to examine the hull condition

Dry Bulk Towage and Salvage

South Korea offers financial relief to coronavirus-hit shipping

Under the new plan, the government will provide just over $75m in low-interest loans should the virus outbreak continue to spread for more than three months

South Korea Coronavirus

Polaris Shipping chief convicted over Stellar Daisy's fatal sinking

Families of the victims made clear they though the the court had handed down a derisory punishment. They said they would appeal to hold Mr Kim liable for the loss of the seafarers’ lives

South Korea Dry Bulk

Tonne-mile demand for US Gulf crude shipments contracted last year

Crude tanker tonne-mile demand for imports and exports out of the US Gulf contracted for the first time in 2019, as gains made in rising exports of shale oil failed to offset those lost via declining imports, according to Lloyd's List Intelligence data

Tankers and Gas Canada
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Australia

Set Alert for Lloyd's List Asia Pacific :: Australia

Melbourne port workers refuse to unload Cosco containership

Industry association Shipping Australia has condemned what it called a ‘rogue action’, calling it unconscionable

Australia Containers

Australian gas shortfall persists despite lifting of bans

‘There is still a strong need for significant additional natural gas volumes being brought in through our proposed terminal,’ said an executive with a developer on one project

Australia Tankers and Gas

Australia’s top LNG producer defers project FIDs

Cutting out non-committed activities will help slash about 60% of investment expenditure previously guided for this year, says Woodside

Australia Tankers and Gas

Brisbane further eases port entry restrictions

Despite this watering down, the 14-day restriction policy for all vessels still applies at the other 20 Queensland ports. Shipping Australia said some trades, such as sugar, chemicals, iron ore concentrates and fertiliser, could still be adversely affected

Australia Containers

Australia's major backfill LNG project now on hold

Independent oil and gas producer Santos no longer aims to sanction the Barossa backfill LNG project in the first half of this year

Australia Tankers and Gas

Queensland ports exempt some vessels from entry restrictions

Shipping Australia deputy chief executive Melwyn Noronha said the exemption ‘simply doesn’t go far enough’

Australia Ports and Logistics
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