China-led ‘Belt and Road’ initiative links Kazakhstan with sea — April 27, 2017

China-led ‘Belt and Road’ initiative links Kazakhstan with sea


Khorgos22-Kazakhstan Railways at Almaty

BEIJING, Apr 27 (FAM) – Thanks to the China-led “Belt and Road” initiative, Kazakhstan was finally connected with the sea, local experts hailed the significance of deepened China-Kazakhstan cooperation since Chinese President Xi Jinping made the proposal in the Central Asian nation more than three years ago.

The “Belt and Road” strategic vision was first introduced by Xi during his visit to Kazakhstan in September 2013. In a speech delivered at Nazarbayev University, Xi suggested that China and Central Asia cooperate to build a Silk Road Economic Belt.

The proposal ushered in an upsurge in China-Kazakhstan cooperation on economy, trade, production capacity, energy and technology.

China and Kazakhstan to co-build the “green Silk Road” —

China and Kazakhstan to co-build the “green Silk Road”


KAZAKHSTAN, Apr 27 (FAM) – Kazakh public thought the country has lost its seaports when Soviet Union was dissolved, recalled Benedikt Sobotka, CEO of Eurasian Resources Group, adding that everybody back then was predicting a downturn for the country. “But indeed, we don’t need a sea at the door since China offers it to Kazakhstan,” he stressed.

The Expo-2017 themed “Future Energy” to be hosted this June by Astana, capital city of Kazakhstan, will provide opportunity for China and Kazakhstan to co-build the “green Silk Road”. The site of the expo is currently under construction, with the China pavilion under a faster pace compared with others.


Troubled Yang Ming says trading stops while it seeks recapitalisation —

Troubled Yang Ming says trading stops while it seeks recapitalisation


TAIPEI, Apr 27 (FAM) – Taiwan’s troubled Yang Ming Transport Corp in a customer advisory said it suspended trading on the Taiwan Stock Exchange from April 20 to May 3 to work on a recapitalisation plan.

As it stands, the company said its recapitalisation plan involves an “infusion of new capital” from “various private and public investors”.

Shanghai congested ahead of May rate rises — April 26, 2017

Shanghai congested ahead of May rate rises



SHANGHAI, Apr 26 (FAM) – The world’s largest container port in Shanghai is continuing to struggle with congestion as shippers rush to load cargo ahead anticipated rate rises at the start of May. The port has also been hampered by fog and changes in vessel schedules following the restructuring of schedules and vessel sharing agreements after the liner alliance system was rejigged at the start of April.

Some sources put current waiting times at Shanghai terminals at between 18 hours and 60 hours depending on terminal and service. However, GAC said last week that some vessels were being delayed by up to ten days. “Now roughly 60% of the ships are delayed for 48-52 hours,” Paul Tsui, managing director of forwarding and logistics operator Janel Group told Lloyd’s Loading List yesterday.


Mega container arrivals will benefit California ports —

Mega container arrivals will benefit California ports


LONG BEACH, Apr 26 (FAM) – The growing number of mega container ships that are being delivered to ocean container carriers in 2017 and beyond are bound to benefit West Coast ports, including Long Beach, Los Angeles and Oakland, because “there are no ports on the East Coast and Gulf, at present, that can handle ships of this size,” Beacon Economics’ international trade advisor said.

Despite the fact that California ports have lost market share to ports such as Houston, New Orleans, Charleston and Savannah, “this is partly a function of the increased location of manufacturing in Southern States by global manufacturers. In the long term, container volumes are going to continue to rise at California ports, especially with the arrival of the mega container



Busan T/S containers down 3% in Q1 —

Busan T/S containers down 3% in Q1


BUSAN, Apr 26 (FAM) – The Port of Busan in South Korea processed 4.786 million TEUs of containers in the first quarter (January-March) of this year, which decreased 0.44% year on year, according to preliminary figures unveiled by the Busan Port Authority (BPA). Exports and imports increased 2.14% to 2.376 million TEUs in total, but transshipment (T/S) containers declined 2.87% to 2.41 million TEUs, having an adverse impact on the fall in overall container throughput.

By major trade partner, 688,000 TEUs were moved to and from Japan, which waned 1.09%. Export and import containers sank 2.37% to 316,000 TEUs. T/S cargo remained nearly unchanged, going down a minute 0.02% to 372,000 TEUs.

Belt and Road Initiative to benefit China, Ukraine —

Belt and Road Initiative to benefit China, Ukraine


KIEV, Apr 26 (FAM) – The economic cooperation under the Belt and Road Initiative between China and Ukraine would bring benefits to both countries, while Ukraine may become a gate of the China’s Silk Road to Europe, Deputy Infrastructure Minister Viktor Dovgan said at the China-Uraine business forum.

“We believe that together we can implement joint projects in Ukraine and within six months Ukraine will appear as a logistic hub on China’s Silk Road map,” Dovgan told the forum, which is held in the framework of the Sino-Ukrainian cultural exchanges week, titled “One Belt One Road Week.”


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