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The Chinese Ministry of Transport (MOT) has passed a new domestic emission control area regulation from 1 January 2019 in their territorial waters.
Severe overcapacity in the market and recently agreed contract rates on the transpacific trade lanes keeps pressure high on the liner companies.
After a meeting at Wah Kwong’s offices in Hong Kong, the drafting team has now finalised the first draft Quiet Enjoyment Letter ready for industry consultation.
Reduced volumes are currently posing a major challenge to container shipping due to the COVID-19 crisis.
As BIMCO foresaw in the latest Shipping Market Overview & Outlook – an upward adjustment of freight rates as per announcements became essentially successful.
This BIMCO COVID 19 weekly report for the week ending 8 April covers the International Maritime Organization (IMO), China, Canada, India, Norway, Singapore, Ukraine, Port State Control, and the latest from the International Labour Organization (ILO) and the World Health Organization (WHO). Every week, BIMCO summarises measures imposed by governments for sea transport, including for crew change, as well as updates from United Nations bodies such as the IMO, WHO and the ILO.
As the Chinese Lunar New Year draws to an end, the container lines have already prepared themselves for a strong rebound. In fact they must have been
Winter navigation information for the Bohai and Yellow Sea areas in Northern China, covering ports of Dalian, Tianjin, Qingdao and Qinhuangdao as well as some major South Korean ports like Incheon, Kunsan including Pusan.
An ”L-shaped” market in the making? Demand: The overall sluggish demand picture has resulted in slow steaming and idle capacity equal to 550 vessels comprising 10% of current trading fleet or 1.3 million TEU.
