Heilongjiang Lighthouse International Logistics Co., Ltd.

In a special event held at its premises, the Port of Piraeus Authority (PPA) established a partnership with the Port of Guangzhou in China, which ranks among the top 10 largest commercial ports worldwide.

The Memorandum of Understanding (MoU) was formally signed by Panagiotis Tsonis, deputy CEO of PPA, and Song Xiaoming, deputy general manager at Guangzhou Port Group.

According to a statement, this agreement signifies a commitment from both governing bodies to strengthen their collaboration, forming a durable alliance to address current and future challenges. Both parties have pledged to prioritize joint efforts towards sustainable investments, aimed at reducing carbon emissions and fostering environmentally friendly port operations.

Additionally, the parties have agreed to work closely on digitization and automation initiatives, ensuring the continual exchange of expertise and adoption of cutting-edge technologies.

Also, Yu Zenggang, chairman of PPA, expressed profound satisfaction with the signing of this cooperation agreement between the ports of Piraeus and Guangzhou. He emphasized the importance of fostering ongoing development, modernization, and technological advancement through the exchange of knowledge and experiences to address global challenges like climate change. Such collaborative efforts are deemed pivotal for effective port management and decision-making in Piraeus port.

The signing ceremony was attended by Yiannis Moralis and Sun Zhiyang, mayors of Piraeus and Guangzhou, respectively, along with the esteemed ambassador of China to Greece, Xiao Junzheng.

Authorities said today (23 February) that five people have been confirmed killed after a boxship hit a bridge in Guangzhou in the southern Chinese province of Guangdong yesterday morning.

On 22 February, Liang Hui 688, a 2016-built 5,000 gt domestic Chinese container ship, reportedly hit the Lixinsha Bridge in Guangzhou’s Nansha district, causing the bridge to collapse partially. Consequently, two vans plunged into the river and the other three vehicles, including a bus, a car and motorcycle, fell onto the ship.

The dead persons were the motorcyclist, the bus driver and the occupants of the vans that fell off the bridge.

Preliminary investigations indicated that the Liang Hui 688 crew had lost control of the ship while navigating the vessel.

Fifteen rescue vessels and 122 rescue personnel were sent to the scene.

At the end of 2023, the volume of imported cars in China decreased by 9% year-on-year to 799,000 units, according to the General Administration of Customs of the PRC.

The total volume of imported cars in value terms amounted to $47.05 billion. The total value of imported vehicles amounted to US$47.05 billion, down 11.6 percent from 2022.

The number of sedans, SUVs and vans imported into China in 2023 decreased year-on-year.

Meanwhile, in December last year, China's car imports rose 25.6 percent year-on-year to 80,000 units, and total imported cars reached US$4.31 billion in value, up 22.7 percent year-on-year. The total value of imported automobiles reached US$4.31 billion, up 22.7 percent year-on-year.

The port of Tianjin in northern China handled more than 1.88 million twenty-foot equivalent containers /TEU/ in January 2024, up 8.8 percent year-on-year and setting a new record for monthly throughput, the port operator said.

The port's cargo throughput in the first month of this year was 41 million tons, up 2.6 percent compared with the same period in 2023.

Tianjin Port is a key shipping point in the Beijing-Tianjin-Hebei region. Since the beginning of this year, the port has continuously made new achievements in route opening, low-carbon development and smart terminal construction, capitalizing on its advantages.

For example, the port opened a direct express route for cherry imports from Chile, ensuring the supply of high-quality fruit to the northern regions of the country during the Spring Festival /Chunjie, the traditional Chinese New Year according to the lunar calendar/. In addition, China's first intelligent system for monitoring the state of the marine aquatic environment was put into operation in this port.

According to Tianjin Port, it currently has 145 container routes. It has trade links with more than 500 ports in over 180 countries and regions of the world.

Singapore-headquartered Ocean Network Express (ONE) experienced a notable decline in its revenues, earnings, and profits in the third quarter of fiscal year 2023 (October - December), in contrast to the corresponding period in the previous year.

The quarter witnessed a softening of the supply and demand trend, resulting from sluggish consumption growth, reduced cargo movement during the low season, and an influx of new ships.

The company's loss reached US$83 million, a striking contrast to the US$2.77 billion profit reported in 2022. Additionally, ONE recorded a 46% decline in the quarter revenues to US$3.3 billion. Moreover, the company's Earnings before interest, taxes, depreciation, and amortization (EBITDA) also saw a reduction to US$170 million, down from the US$3 billion reported in FY2022 same quarter. Furthermore, earnings before interest and taxes (EBIT) experienced a downturn, reaching minus US$248 million, compared to the US$2.73 billion recorded in 2022.