Blogs

China’s Ningbo Zhoushan Port Complex Reaches 30M TEU in 2021 In 2021, China's Ningbo Zhoushan Port will have lifted 30 million containers, cementing its position as the world's third busiest container port complex. The achievement is noteworthy because the port was ranked fifteenth in the world 15 years ago, and it occurred during a year in which container operations were disrupted by a COVID-19 outbreak in August. On the morning of December 16, a ceremonial lift of the 30 millionth container took place in the Meishan Port District, with the decorated box hoisted aboard the 20,000 TEU COSCO Shipping Pisces. Fairfax-backed Seven Islands Shipping expands fleet with oil products tanker It now operates a fleet of 23 ships, which includes 18 oil product tankers, three crude tankers, and two LPG carriers. Seven Islands Shipping Ltd, backed by Indian-born Canadian businessman Prem Watsa's Fairfax India, has purchased a used oil products carrier for an undisclosed sum, its third acquisition in less than four months. Seven Islands Shipping, which is preparing for an IPO, received a medium-capacity oil tanker with a capacity of 45,761 tonnes. CIMC setting up deep-sea jv with Yantai Guofeng Yantai Guofeng Group and China International Marine Containers (CIMC) will form a joint venture to promote the development of deep-sea opportunities. Marine Technology Group, a joint venture between CIMC Raffles Marine Engineering (Singapore), Shenzhen Southern CIMC Containers Manufacture, and Yantai Guofeng Group, will be established with an RMB5 billion registered capital. CIMC plans to consolidate its offshore engineering assets in Yantai by forming the Marine Technology Group, which will focus on the development of high-end offshore oil and gas production equipment, offshore wind power, seawater desalination, and other new marine businesses. Container Imports Tumble At Los Angeles, Long Beach Ports Container imports at the largest U.S. seaborne goods trade gateway fell sharply in November, despite growing backlogs of ships waiting to unload cargo at Southern California ports. Last month, the ports of Los Angeles and Long Beach handled the equivalent of 765,963 loaded inbound containers, the lowest traffic since June 2020. The volume of imports was down 9.6 percent year on year and 10.1 percent month on month. Port Congestion Causes Carriers to Blank up to Quarter of TEU Capacity In the container shipping industry, a new phenomenon is arising as major carriers struggle to manage their schedules in the face of persistent backlogs at major ports around the world. Sea-Intelligence, a research and advisory services firm, calls it "congestion-induced blank sailings," in which carriers are forced to remove sailings from their schedules not because of overcapacity, but because the ships are not returning on time due to port congestion. Sources: https://www.maritime-executive.com/article/china-s-ningbo-zhoushan-port-complex-reaches-30m-teu-in-2021 https://www.thehindubusinessline.com/economy/logistics/fairfax-backed-seven-islands-shipping-expands-fleet-with-oil-products-tanker/article37975746.ece https://www.seatrade-maritime.com/offshore/cimc-setting-deep-sea-jv-yantai-guofeng https://www.shippingtribune.com/news/shipping/Container+Imports+Tumble+at+Los+Angeles%2C+Long+Beach+Ports https://www.maritime-executive.com/article/port-congestion-causes-carriers-to-blank-up-to-quarter-of-teu-capacity