The volume of China's international trade in goods and services increased by 4 percent in August.
China's international trade in goods and services rose 4 percent year-on-year to about 4.18 trillion yuan through August 2024, official data released by the State Administration of Foreign Exchange Control of the People's Republic of China showed on Friday.
In dollar terms, the country's total exports and imports in international trade in goods and services amounted to $322.4 billion. The country's total exports and imports of international trade in goods and services amounted to US$322.4 billion and US$263.5 billion. The country's exports and imports totaled US$322.4 billion and US$263.5 billion, respectively, recording a surplus of US$58.9 billion. THE SURPLUS AMOUNTED TO US$58.9 BILLION.
Among them, China's merchandise exports totaled about 2.07 trillion yuan in August, while imports totaled nearly 1.5 trillion yuan. The surplus at the same time reached 572.4 billion yuan.
Last month, China exported 230.8 billion yuan worth of services and imported 383 billion yuan worth of services. The passive balance amounted to 152.2 billion yuan.
MSC to fill in the gaps for Premier Alliance
From February 2024, THE Alliance, which includes Hapag-Lloyd, Nippon Yusen (NYK), Yang Ming, MOL, Kawasaki Kisen Kaisha (K-Line) and Hyundai Merchant Marine (HMM), will become the new organization called Premier Alliance, which consists of ONE, Yang Ming Marine and Hyundai Merchant Marine. comprising ONE, Yang Ming Marine and Hyundai Merchant Marine. Hapag-Lloyd will leave the alliance and join the Gemini Corporation, a partnership with Maersk, which was formed after the dissolution of the 2M alliance between MSC and Maersk.
Mediterranean Shipping Company (MSC), the operator with the world's largest fleet, signed an agreement to assist the Premier Alliance in filling the void on Asia-Europe routes following the withdrawal of Hapag-Lloyd. As a result of MSC's involvement, the Premier Alliance will become a significant, albeit initially smaller, player.
Panama Canal introduces new long-term slot allocation method
The Panama Canal announced that the new Long Term Slot Allocation (LoTSA) methodology will be implemented starting 1 October 2024, for all market segments except LNG and LPG.
The LNG and LPG segments will adhere to the previously announced date in Advisory to Shipping No. A-25-2024.
After the LoTSA methodology was announced, several customers in the full container market segment requested additional time to thoroughly assess the new initiative.
In response, the implementation date for these segments has been postponed to allow for greater participation and to ensure the success of the LoTSA methodology.
The Long-Term Slot Allocation Method for Neopanamax vessels, part of the Transit Booking System, was developed to enhance transit certainty and flexibility for clients.
This method will offer various transit booking slot packages to different market segments, allowing a single client to secure multiple bookings in one transaction.
Bunkering operation on TS Lines ship causes Hong Kong oil spill
Parts of Hong Kong’s Kwai Tsing Container Terminals remain closed for clean-up operations after an oil spillage occurred on the night of 20 August.
The spillage of bunkers happened while Taiwanese liner operator TS Lines’ 1,100 TEU container ship, TS Kobe, was fuelled at terminals 6 and 7, which are operated by Hongkong International Terminals.
The marine fuel was supplied by Yee Lee 2, a barge operated by local bunker supplier Yee Lee.
Hong Kong’s Marine Department said that it was alerted to the oil spillage around 2200hrs local time on 20 August, and immediately executed spillage response measures.
The oil slick is understood to have spread to waters around Kwai Tsing’s terminal 4 and the Tsing Yi and Stonecutters districts in Hong Kong.
VesselsValue’s ship-tracking data indicates that TS Kobe, which serves TS Lines’ North Vietnam 2 service, remains anchored at the incident spot.
Representatives at TS Lines and Yee Lee declined to comment when contacted by Container News, citing ongoing investigations into the spillage Hong Kong bunker barge operators told Container News that the cleanup could take at least a month.
In June, a severe bunker leakage in Singapore took two months to be fully cleared up, with beaches reopened this month.
A new air route will link the Chinese city of Haikou with the U.S. city of Seattle
China's Hainan Airlines announced the launch of a new air route connecting Haikou City /adm. center of Hainan Province, South China/ and Seattle in the U.S. via Chongqing, the central city of Chongqing, starting September 26. Hainan Airlines announced the launch of a new air route connecting Haikou City /adm. center of Hainan Province, South China/ and Seattle in the United States via Chongqing.
The route will operate one round-trip flight per week, with flight number HU445 departing from Haikou every Thursday. Both departing and arriving flights will include a stopover in the central government city of Chongqing in southwest China.
This will be the first air route from Haikou to the United States operated by Hainan Airlines. It is expected to not only increase air traffic, but also promote the development of Hainan Free Trade Port.
In recent years, Hainan Province has stepped up efforts to revitalize and launch international air services. As of May this year, 46 international passenger air routes were operating in the province, and the number is expected to reach 62 by the end of this year.
Translated with DeepL.com (free version)