Asia

The outlook for global shipping in 2020 may not be positive on the back of geopolitical instability and the persistence of an oversupplied market situation, according to South Korean shipowner Hyundai Merchant Marine (HMM).

CDB Leasing (International) Company, wholly-owned subsidiary of China Development Bank Leasing, has entered into a vessel purchase agreement with CMB International Leasing Management Limited to acquire an LNG vessel for $154.5m.

MISC has affirmed its commitment to combat shipping emissions with a plan to replace half of its fleet to run on LNG dual fuel over the next 10 years by 2030.

Taiwan’s Evergreen Marine Corporation has ordered four feeder container vessels from South Korea’s Hyundai Mipo Dockyard (HMD) for KRW110bn ($100m).

Cosco Shipping Logistics has signed a strategic cooperation agreement with Shandong Hi-Speed Group to develop port logistic and Europe-Asia freight service.

Japan’s Mitsubishi Shipbuilding Co has delivered a first LNG fuel supply system, the Fuel Gas Supply System (FGSS), for dual fuel marine engines.

Singapore’s Keppel Offshore & Marine (Keppel O&M) announced on Thursday that it has secured 104 scrubber and ballast water treatment systems (BWTS) retrofit orders worth a combined value of about SGD160m ($118m) for the year-to-date.

Leading Chinese marine fuel suppliers Chimbusco, PetroChina and Sinopec Corp have penned agreements to procure very low sulphur fuel oil (VLSFO) from international companies including Shell in preparation for IMO 2020.

Yingtan port in China’s Jiangxi province is to start the construction of its cargo terminal project at the end of this month to improve domestic waterway transportation.

Yet another ship was involved in a piracy incident on Wednesday in the Singapore Strait following five vessels already attacked by pirates earlier on 20 and 23 December, according to an update by ReCAAP Information Sharing Centre (ISC).