Started from 1 June, the new service will call at the Chinese ports of Shanghai, Nansha, and Laem Chabang, Bangkok and Ho Chi Minh in Thailand and Vietnam.
Jinjiang Shipping initiated services to Thailand in 2012 and the service to Vietnam in 2015. The newly opened Shanghai-Thailand-Vietnam service will be able to strengthen the company’s service capability for Southeast Asia region.
It is the first LNG loading and unloading terminal at Fangcheng port. Opening up for international vessels demonstrates the port ability and intention to make a further move to develop green waterway transportation.
Located at the fifth operation area of Fangcheng port, the berth is in 260 metres in length, with a designed annual handling capacity of 1.49m tons, and capable of handling 50,000 cu m LPG carriers and up to 80,000 cu m LNG carriers.
The berth is expected to accommodate the first foreign-flagged vessel in June.
Paul Bartlett | May 17, 2022
Negative sentiment induced by Covid and the economic outfall from war are taking their toll on the demolition market. Recyclers have been paying remarkable rates for end-of-life ships so far this year, but prices have fallen by about $50 per light displacement since the end of Ramadan.
The decline is relative, however. These price levels are still way above average.
Subcontinent currencies have lost significant value against the dollar and tumbling stock markets have rattled mainstream recyclers, according to GMS, the world’s largest cash buyer of end-of-life ships. These developments, capped by a sharp fall in steel plate prices, have left end buyers distinctly downbeat and few deals have been done in recent days.
Turkey, the only recycling market of note outside the subcontinent, has undergone “an immeasurable drop” since Ramadan ended with the traditional Eid al-Fitr festival, GMS noted. The Turkish lira continued to decline against the dollar, with Turkish buyers holding off in the face of further falls likely this week.
“We do expect the Turkish market to all but disappear (especially in the short run) for anything other than recycling units sailing out of EU waters that have no choice,” GMS declared.
The firm’s indicative prices show India in the lead but softening, with container ships at $660, tankers at $650, and bulkers at $640. Pakistani recyclers are about $10 dollars down across the board, GMS said, with Bangladesh buyers down by another 10. Turkish prices are around $330, $320 and $310 for the three types of ship respectively.