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...He added that continued pay cuts were in line with the general tone at China’s Central Financial Work Conference in October chaired by Xi. “You have to listen to the calling from the party,” he said....
...Between February 2 and 19, around the reported time of the incident, the Behshad sat off Djibouti, where China has a large naval base....
...Today in notable charts: That’s London consultancy Drewry’s index tracking the cost of container shipping worldwide....
...“Some of the competitors in [the] Greater Bay Area continue to receive government incentives, hence able to offer attractive lower price option[s] to shipping lines,” the company added....
...Rates for 40ft containers to Northern Europe from China have risen from $1,148 at the end of November last year to about $4,000 today....
...Simon Heaney, senior manager in container research at London-based Drewry Shipping Consultants, said alliances were vital for shipping lines and their customers....
...He anticipated most shipping lines would follow a “hybrid” approach, increasing speeds only to 15 or 16 knots....
...Simon Heaney, senior manager in container research at London-based Drewry Shipping Consultants, said there was “definitely pain” for shipping companies’ customers as a result....
...That is also boosting share prices for shipping lines. Maersk and Germany’s Hapag-Lloyd are up about 20 per cent over the same period....
...His company estimated that of all shipping segments only container shipping was suffering bigger upheaval as a result of the problems in the Red Sea....
...Chinese lines’ move to the Red Sea comes after most big container shipping lines — including China’s Cosco, operator of the industry’s fourth-biggest fleet — abandoned the southern Red Sea because of the...
...Logistics companies have looked anew at routes through Russia following the decision of most large container shipping lines to divert Asia to Europe sailings that would normally go through the Suez Canal...
...Nine of the 26 attacks on vessels since November 19 have targeted the biggest, highest-profile container ships owned by the world’s three biggest lines, Maersk, MSC, and CMA CGM....
...Burgeoning exports from China come as car-carrier operators, in contrast to container shipping lines, face a lack of capacity after scrapping a significant number of vessels during the pandemic....
...The European Commission said on Tuesday that the exemption, which for years has enabled shipping lines to place containers on each other’s ships, no longer appeared “fit for its purpose” and will not be...
...“They are on the 20-yard line to our homeland,” General Laura Richardson, commander of US Southern Command, said in August....
...Among the companies that have stuck to the traditional routes are some Chinese container lines, which appear to be confident the close links between China and the Houthis’ backers in Iran make them immune...
...BYD, which is backed by Warren Buffett, has launched three models across Europe and is expanding its line-up and sales countries....
...Parash Jain, HSBC’s head of shipping, ports and Asia transport research, forecast all three carriers could return to profit this year if international travel recovered....
...Container shipping lines had already warned this year would be much tougher, but the outlook has deteriorated....
...Maersk, the world’s second-largest container shipping line, said it would no longer send its US-flagged fleet through the area....
...An exception seems to be Chinese container companies, which appear to be confident that China’s close links with the Houthi’s backers in Iran make them immune to attacks....
...Although the EU’s ruling does not outlaw co-operation between shipping groups, WSC warned that it had created considerable uncertainty for shipping lines, which must now assess whether their agreements comply...
...Property developers in China typically sell homes before they are completed....
...Separately, US President Joe Biden warned Beijing against meddling in the South China Sea, while the US, UK and Australia are considering expanding their security pact as a bulwark against China....
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