Hin Leong Trading – An oil trading company goes bankrupt

Hin Leong Trading

The coronavirus pandemic and the oil price war, fuelled by Saudi Arabia and Russia, brought oil prices down to record low levels. This must-have affected the condition of oil trading and storage companies. Hin Leong Trading, a huge Singaporean oil trading and storage company has announced its collapse. 800 million USD of losses to Hin …

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First Chinese autonomous containership under construction

Zhi Fei – Flying Wisdom – is the name of the first autonomous containership being constructed in China. The construction was launched with a steel cutting ceremony held in mid-May at the Qingdao Shipyard. First Chinese autonomous containership under construction Autonomous container ships (MASS) are seaborne vessels that transport cargo with little or no human …

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New air cargo service between China and Europe

new air cargo service

On the 8th of May, an air freighter carrying over nine metric tons of medical supplies took off from Shijiazhuang Zhengding International Airport in Shijiazhuang, the capital of Hebei province. The following day it arrived at Frankfurt Airport in Germany. Thus, a regular air freight service has commenced between the province and European countries. Check …

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Chinese shipyards slash prices on new ships

FMC teams

While the rest of the world maintains coronavirus-related restrictions, China is gradually lifting them. Many factories have already resumed work, hoping to return to the pre-pandemic production level. Chinese shipyards especially find themselves in a difficult situation. To attract more orders, Chinese shipyards are slashing prices on new ships. Chinese shipyards slash prices on new …

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U.S. Navy hospital ships amid COVID-19 pandemic

On the 18th of March 2020, the president of the United States Donald Trump announced that two U.S. Navy hospital ships would be deployed to provide more hospital beds to those in need on the West and East Coasts of the U.S. Alongside other ideas of utilizing military resources, its usefulness could be limited. Which …

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Chinese ports coming back to normal

Although the case fatality rate of COVID-19 in China is the highest in the world, the number of new cases in this enormous country is dropping day by day. This fact brings ease of mind for many, especially for those who do business with China, as it means, for example, fewer issues when it comes …

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Impact of Coronavirus on air transport

Due to rapidly increasing number of cases of Coronavirus and its death doll, the Chinese had an extended Lunar New Year holidays. The Chinese economy was put on halt, and that period led to a significant disruption in the supply chain. The impact of Coronavirus on air transport and other types of transport is palpable. …

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