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China’s foreign trade enterprises become digital retailers

CGTN published this video item, entitled “China’s foreign trade enterprises become digital retailers” – below is their description.

Livestreaming sales have become one of the most popular sales models for traditional stores. Many foreign trade enterprises in Yiwu city, Zhejiang Province, are trying to conduct their own livestreaming sales to increase their share of China’s competitive domestic market.

CGTN YouTube Channel

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DHL Global Forwarding expands air freight charter programme | Brazil Modal

Response to limited capacity and rising demand on key Asia Pacific to Europe and the US trades, especially from life sciences and healthcare sectors.

DHL’s freight forwarding division DHL Global Forwarding (DGF) has expanded its regular global air freight charter programme in response to limited capacity and rising demand on key Asia Pacific to Europe and the US trades from the technology, manufacturing sectors and especially from the life sciences and healthcare sectors.

Managed by DGF’s in-house charter team StarBroker, the twice-weekly charter originates from Chongqing, China and flies to Amsterdam, Netherlands; Chicago, United States; Incheon, South Korea before returning to China.

DHL joins a growing number of freight forwarders that are increasingly taking ‘pre-emptive action’ to guarantee space for customers during the looming peak season and beyond, with the already-diminished capacity expected to tighten further in the coming months. This week, DB Schenker also announced the launch of a new transatlantic flight operations programme until the end of 2020, connecting Atlanta and Chicago with Frankfurt, Germany and other surrounding Central European markets. It said the new B747F flights, which will operate three times a week via full and part charter flights, “will provide much-needed air freight capacity for an industry severely impacted by the many passenger flights cancellation due to the Covid-19 pandemic”.

A DGF spokesperson told Lloyd’s Loading List that the new regular Asia-Europe-US freighter capacity was expected to be “an ongoing service which will be offered as long as we see demand, and the volatile situation in the air freight market continues”. He said DGF currently offers 27 weekly fully dedicated freighter flights, for instance from Incheon to Chicago, Brussels to Johannesburg and Hahn to Shanghai.

Thomas Mack, global head of air freight at DGF, said: “While some passenger airlines have resumed operations, the situation in the air freight market remains volatile – especially as belly capacity is still tight. DHL Global Forwarding’s top priority is to provide our customers with sufficient and reliable air freight capacity.

“Not only are the resilient, agile and reliable supply chains of highest importance for an economic recovery, but also in preparation for the availability of vaccines and other essential medical supplies during the pandemic.”

Healthcare products rise

DGF noted that South Korea has seen its export of healthcare products rise year-on-year by 26.7% in the first half of 2020, with pharmaceutical goods in particular increasing by 52.5%. China has exported 28.5% more medical devices in the first five months of the year as compared to a year ago. In 2019, China, the Netherlands and the United States were among the top ten importers and exporters of medical goods.

“Over the years, DHL has built up its expertise from globally certified facilities and staff to technologies that track shipments in real-time in addition to ensuring the integrity of such products throughout their journey. Getting the much-needed air capacity is the last piece in the value chain puzzle, so to speak, that ensures temperature sensitive products such as life-saving vaccines reach the communities-in-need,” added Mack.

In a recently published white paper, DHL together with McKinsey & Company as analytics partner, explores the logistics challenges for vaccines and medical goods during COVID-19. To provide global coverage of COVID-19 vaccines, they reported that up to 200,000 pallet shipments and 15 million deliveries in cooling boxes as well as 15,000 flights will be required across the various supply chain set-ups.

DHL Global Forwarding has a global network of facilities that meet the European Union’s Good Distribution Practice (GDP) guidelines for life sciences and healthcare supply chains. It also has a suite of temperature-controlled freight solutions that allow real-time visibility and active monitoring for the movement of goods that could include medicines, supplements, vaccines, medical devices and diagnostic equipment, the company stressed.

In April 2020, DHL Global Forwarding tapped on its network of life sciences and healthcare facilities, temperature-controlled solutions and customs clearance expertise to fly more than 1.3 million Covid-19 test kits from South Korea to Brazil, Ecuador, India, Lithuania, Poland, Russia and Saudi Arabia. The freight forwarder also launched a dedicated 100-tonne weekly air freight service for organizations and governments shipping health and medical-related items and other goods from China to Middle East and Africa.



Source: Lloyd’s


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Egypt to host virtual seminar on trade with Mercosur

From the Newsroom

São Paulo – Egypt’s government is hosting the webinar “Egypt-Mercosur Free Trade Agreement” next Sunday (20). The event will address aspects of the agreement currently into its fourth year and providing for the gradual easing of tariffs. Pictured above is a container ship in Egypt’s Suez Canal.

The free event is intended for the Arab and Brazilian public and slated to begin at 2 pm, Cairo time, 9 am, Brasília time, on the Zoom platform. Speakers will speak English and Arabic. Registration is available here.

The webinar will feature Egyptian and Brazilian specialists. Organization is being handled by the Agreements and Foreign Trade section of Egypt’s Ministry of Trade and Industry, and by the Federation of Egyptian Chambers of Commerce. This will be the first in a series of webinars covering Egypt’s trade agreements.

The Federation’s secretary-general Alaa Ezz will deliver the opening speech. He will be followed by Rubem Mendes de Oliveira, the minister-counselor at the Embassy of Brazil in Cairo. Arab Brazilian Chamber of Commerce (ABCC) secretary-general Tamer Mansour will provide information regarding access to the Brazilian market and discuss the role of the ABCC in advancing Egypt-Brazil trade.

The director-general for Bilateral Trade Agreements at Egypt’s Ministry of Trade and Industry, Michael Gamal Kaddes, will go over details of the Egypt-Mercosur treaty. He will also discuss how to make the most of the advantages it creates, the liberalization of trade in commodities, and rules of origin. Other speakers will be Ahmed Maghawry Diab, head of the Egyptian Commercial Service (ECS) and Ashraf Moukhtar, head of the Agreements and Foreign Trade division of Egypt’s Ministry of Trade and Industry.

The webinar is slated to end at 4 pm, Cairo time, and 11 am, Brasília time.

Quick facts

Egypt-Mercosur Free Trade Agreement
September 20
Click here to register

Translated by Gabriel Pomerancblum

Khaled Desouki/AFP


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HMM’s 24,000 TEU boxship fleet is complete | Brazil Modal

South Korean shipping company HMM has taken delivery of the final 24,000 TEU containership newbuild of a total of 12 ordered two years ago.

These are the largest container ships in the world based on their carrying capacity.

HMM St Petersburg was built by Samsung Heavy Industries (SHI) and delivered on September 11.

The colossal vessel joints its sister ships HMM Algeciras, HMM Copenhagen, HMM Dublin, HMM Oslo, HMM Gdansk, HMM Hamburg, HMM Helsinki, HMM Le Havre, HMM Rotterdam, HMM Southampton, and HMM Stockholm.

SHI has built five vessels from the batch, while its compatriot Daewoo Shipbuilding & Marine Engineering (DSME) has constructed the remaining 7 from the series.

All twelve containerships have been deployed in the Asia-Europe route.

General specifications:

  • Capacity 23,964 TEU
  • Length: 399.9m
  • Width: 61.0m
  • Depth: 33.2m
  • Speed: 22.4 knots

All 12 vessels have been fitted with scrubbers, and feature an optimized hull design and energy-efficient engines.

The 24K-class containerships play an important role in HMM’s long term goal to achieve net-zero emissions across its vessel fleet by 2050.

Namely, HMM wants to reduce carbon emissions by 50% by 2030 compared to 2008 levels and thereby reach carbon neutrality by 2050 for its entire fleet.

The liner major believes the sea giants can deliver economies of scale as they are highly efficient and have a low-cost structure.

However, the Korean liner has seen some challenges in filling up its containerships as a result of the COVID-19 pandemic on the global economy and trade.

Nevertheless, like many of its counterparts, HMM turned a profit based on the cooperation with THE Alliance and the deployment of 24,000 TEU-class containerships since April 2020.

Q2 2020 net profit reached KRW 28.1 billion, improved by KRW 228.8 billion year-on-year (YoY).

Operating profit for both container and bulk business turned to black, mainly led by rationalization of service routes, cost reduction, and increased freight rates.

This is despite a 20,9 % decrease in container handling volumes in H1 2020 (- 469,000 TEUs) YoY to 1,779,000 TEU as a result of the COVID-19 impact.

Fleet growth

The addition of the super-sized sea giants to the company’s fleet has pushed HMM’s total fleet volume to over 700,000 TEU.

Hence, the company has claimed the 8th place in the global ranking of liner shipping companies based on their fleet size.

The South Korean shipping heavyweight expects to take delivery of eight more 16,000 TEU containerships from Hyundai Heavy Industries in the first half of 2021.

With the delivery of these ships, HMM’s fleet will break the 850,000 TEU mark as the company pushes forward to achieve its 1 million TEU by 2022 goal.

HMM expects the market outlook to remain uncertain as coronavirus can re-emerge for the upcoming winter season.

Growing geopolitical tensions between the US and China as well as the growing competition among carriers in Intra-Asia and oversupply of capacity are also expected to contribute to the challenges ahead.



Source: World Maritime News


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On Trade, Trump Is Turning the U.S. Into a Cheap Copy of China

Reciprocity has become the watchword for the Trump administration’s increasingly confrontational approach to China, from imposing limits on the movement of Chinese diplomats and journalists within the U.S., to banning Chinese-owned social media and messaging platforms TikTok and WeChat. The immediate goal is to impose costs for Beijing’s similar restrictions on the activities of American diplomats, journalists and tech companies in China, while insulating the U.S. from the potential security risks of Chinese tech companies that officially operate in the private sector but remain in thrall to the ruling Communist Party.

Beyond that, however, it is unclear what President Donald Trump’s long-term objective is. As with Iran, his administration seems to be intent on causing pain for pain’s sake, with little indication of what China might realistically do, short of regime change, to meaningfully respond to American concerns. More broadly, as the U.S. raises the stakes in its strategic rivalry with China, it would do well to keep in mind Friedrich Nietzsche’s warning: Be careful who you choose as your enemy, because that’s who you become most like.

From the start, the Trump administration’s approach to China was muddled by internal divisions, vacillating between the president’s obsession with redressing the bilateral trade deficit, efforts to reach more comprehensive remedies for China’s unfair trade practices, and a desire for a complete decoupling of the two countries interdependent economies. This confusion contributed to the lengthy standoff that preceded the “phase one” trade deal reached in January, as Beijing sought clarity on the Trump administration’s position, in vain.

Moreover, that deal did little to resolve the internal contradictions in Trump’s approach. It offered an incoherent mix of guaranteed Chinese purchases of U.S. goods to satisfy Trump, along with some vague commitments by Beijing to level the playing field for U.S. firms operating in China’s domestic market to partially satisfy hawkish advisers like U.S. Trade Representative Robert Lighthizer.

Plans to negotiate a follow-up “phase two” deal, though far from guaranteed to resolve their remaining differences, were upended by the coronavirus pandemic. As COVID-19 spread through the U.S. in March and April, Trump sharply escalated his criticisms of China, railing against the “China virus” in what many observers saw as an effort to deflect attention from his administration’s incompetent response to the pandemic. At the same time, his administration took a series of measures to ratchet up tensions, including closing the Chinese consulate in Houston over espionage charges; issuing a ban on TikTok; enacting punitive measures on Hong Kong in response to China’s new national security law there; and imposing sanctions on officials involved in human rights abuses in Xinjiang.

The problem is not that any of these measures are unjustified. They are, even if they are at odds with Trump’s previous willingness to ignore them to preserve his cherished trade deal. The problem is that they are not in the service of any broader, coherent strategy. Of course, the first requirement of any effective strategy is a clearly defined and achievable end goal, and that is once again what is missing.

Take Washington’s apprehensions over TikTok. While the stated concern is data privacy, the problem is not so much the data that TikTok amasses; it is the Chinese Communist Party’s access to it and Washington’s fundamental—and justified—lack of trust in how Beijing will make use of it. The same can be said for the security concerns over Huawei’s participation in developing next-generation 5G telecom infrastructure, which in addition to data could potentially provide access to sensitive intelligence transmitted over those networks. It’s hard to see, then, how the tech security issues might be resolved as long as the Chinese Communist Party remains in power.

The Trump administration has adopted measures that blur the sharp distinction between how the U.S. and China have historically approached international trade.

Seen in this light, the ban on TikTok looks more like a heavy-handed attempt to force a sale to an American buyer, one that bears some resemblance to the forced partnerships and technology transfers Beijing has imposed on U.S. tech firms operating in China. Washington has long complained about those shakedowns, and rightly so. Now it seems to have decided to copy them instead.

It’s not the first time the Trump administration has adopted measures that blur the sharp distinction between how the U.S. and China have historically approached international trade. At the outset of his trade war, Trump resorted to market-distorting subsidies to farmers to offset the drop in Chinese agricultural purchases that, not surprisingly, resulted from the tariffs. More recently, he has embraced elements of industrial policy, long anathema to free-market fundamentalists, to lure American firms to return production back to the U.S. And the forced Chinese purchases of a range of U.S. goods and agricultural produce provided for by the phase one deal amount to a limited experiment with a managed economy.

Since that deal is also a bilateral one, it offers no remedies to any of America’s allies and partners that are confronted by the same unfair Chinese trade practices. That mirrors the way in which Trump has conducted the trade war: as a bilateral affair, with no effort to build a coalition of like-minded states to confront China collectively. That was a strategic blunder, given how many of them have become increasingly wary of Beijing, especially since the pandemic hit, and would welcome the leverage such a coalition would offer them to address the imbalances in their own trade relations with China.

To add insult to injury, in parallel, the Trump administration has been pressuring America’s allies and partners to choose a side in the standoff. This is most clear when it comes to the campaign to get them to ban Huawei from their 5G networks. Trump went so far as to introduce anti-Huawei clauses into the unrelated diplomatic agreements he recently signed with Kosovo and Serbia.

If this campaign has met with only limited success, however, it is because as wary as many of these countries have become of Beijing, none of them can afford to give up the enormous benefits that trade with China still generates. For all the talk within the Trump administration of decoupling, in fact, most observers believe it’s an unrealistic goal even for the U.S., given the deeply embedded interdependencies between the two economies, as well as between China and the global economy.

As Howard French argued in his column last week, in order to compete with China, the U.S. must actually offer an attractive alternative when it comes to the public goods Beijing provides to partners, particularly in developing economies. That’s already a tall order given the differences between China’s state-led approach to foreign investment and lending, and that of America, which is dominated by the private sector.

But instead of trying, Trump seems intent on turning the U.S. into a cheap copy of China: a transactional and bullying partner that seeks only its own advantage, with little regard for the rules-based principles of trade it historically championed.

Judah Grunstein is the editor-in-chief of World Politics Review. His WPR column appears every other Wednesday. You can follow him on Twitter @Judah_Grunstein.


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California’s ports suspend shore power usage to conserve electricity amid heatwave | Brazil Modal

The mandatory use of shore power at Californian ports has been suspended amid governmental measures aimed at voluntary electricity conservation to mitigate the impact of the ongoing heat-wave.

“State leadership has identified this temporary exemption to at-berth emissions control requirements because shutting off shore power is the single biggest means of reducing power in a way that does not inhibit cargo movement,” the Port of Long Beach said.

“The port, residents and businesses should all do their part to lower electricity use, particularly since more people are in their homes due to the COVID-19 pandemic.”

The Port of Long Beach has invested more than $180 million to ensure all its six container terminals have shore power.

The Port of Los Angeles and Port of Long Beach have exempted ships from the requirements mandating the use of shore power while in port and allowed the use of stationary and portable generators or auxiliary ship engines to reduce the strain on the energy infrastructure and increase energy capacity during the heatwave.

The ports insist the measures would not impact their sustainability efforts as they aim to further electrify their terminals.

To that end, last month California approved a new regulation designed to further reduce pollution from ocean-going vessels while docked at the state’s busiest ports.

The rule builds on the progress achieved by the At-Berth Regulation adopted in 2007, which has paved the way for an 80 percent reduction in harmful emissions from more than 13,000 vessel visits since 2014.

Vessels covered under the existing regulation include container ships, reefers and cruise ships. The updated regulation adds auto carriers and tankers, two categories that produce 56 percent of all fine particulate pollution (PM 2.5) from ocean-going vessels at berth in California ports.

The proclamation from the Governor of California Gavin Newsom expires on September 8, however, ships that berthed at California ports between September 4-8 shall not be required to use shore power until September 11.



Source: World Maritime News


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Mandatory Licensing Procedure for 23 Chinese Technology Exports

  • The newly imposed restrictions on 23 technology exports from China means that they cannot be exported from the country without a license. This is important to note for foreign companies dealing with these segments.
  • Timing of the restrictions is interesting as they come at the heels of deteriorating relations with the US (exemplified by the pressure on TikTok owner, ByteDance, to sell its US operations). Geopolitical tensions have also tightened scrutiny on China’s overall tech market access.

On August 28, 2020, the Ministry of Commerce of the People’s Republic of China (MOFCOM) and the Ministry of Science and Technology jointly issued the Announcement No. 38 (2020) (“Announcement”) amending the Catalogue of Technologies Prohibited or Restricted from Export (“Catalogue”).

In total, 53 items have been deleted, added, or revised – with new restrictions imposed on the export of 23 cutting edge technologies, which are either based on China’s indigenous intellectual property or are data-based personalized products that have become sensitive due to geopolitical assessment or foreign government scrutiny.

Regulation of China’s technology exports

To standardize the administration of technology exports, promote scientific and technological progress, facilitate foreign economic and technological cooperation, and maintain the economic security of the state – China has put in place a policy of catalogue management on technology exports since 1998.

By technology exports, China’s government refers to the transfer of technology from the People’s Republic of China to overseas through trade, investment, or economic and technical cooperation. The specific format of such transfers could include patent assignment, transfer of patent application rights, patent licensing, transfer of technology secrets, technical services, and other forms of technology transfer.

According to MOFCOM statistics, in 2013, the value of China’s technology export contracts was US$20 billion, less than half the value of its technology import contracts. In 2019, the contract value of technology exports rose to US$32.1 billion, which saw China’s exports closing the gap with the contract value of its technology imports.

More specifically, in 2019, China exported nearly RMB 2.96 trillion (US$434 billion) worth of merchandise to the European Union – immediately followed by the United States – counting technologies among its top export goods, besides clothes and accessories. In fact, the export of data processing machines and related components alone were worth RMB 1.14 trillion (US$167 billion). This is no longer surprising as China’s sophisticated supply chain has enabled it to become a high-tech export giant, with computers, power devices, broadcasting technology, telephones, and transport equipment dominating Chinese exports. (US$1=RMB 6.82).

In this respect, the Regulations on Technology Import and Export Administration of the People’s Republic of China (“Regulation” revised in 2019) provide that the competent foreign trade department under the State Council shall, in conjunction with other relevant departments, formulate, regulate, and publish catalogues of technologies the import and export of which is prohibited or restricted.

Accordingly, all technology exports, whether through trade or investment or other way, should strictly abide by the Regulation. Hence, technologies listed under the Catalogue as prohibited (those that include materials containing state secrets, cultural relics and antiques, and endangered species) shall not be exported.

On the other hand, technologies listed in the restricted category will be subject to licensing administration – an approval must be obtained from relevant commerce departments in charge at the provincial level prior to making substantive negotiation with the foreign party and signing any contracts for the technology export.

What are the amendments to the ‘Catalogue of Technologies Prohibited or Restricted from Export’?

  • Removed four technical items that are prohibited from export, including microbial fertilizer technology, caffeine production technology, riboflavin production technology, and vitamin fermentation technology.
  • Removed five technical items that are restricted from export, including Newcastle disease vaccine technology, natural medicine production technology, functional polymer material preparation and processing technology, chemical synthesis and semi-synthetic medicine production technology, and information security firewall software technology.
  • Added 23 new technical items whose exports will be restricted, including artificial breeding technology of agricultural wild plants, cashmere goat breeding and breeding technology, space material production technology, large-scale high-speed wind tunnel design and construction technology, aerospace bearing technology, and laser technology, among others.
  • The last amendment modifies the control points and technical parameters of 21 technical items involving crop breeding technology, aquatic germplasm breeding technology, chemical raw material production technology, biological pesticide production technology, spacecraft measurement and control technology, space data transmission technology, map mapping technology, information processing technology, vacuum technology, among other fields.

Application of the changes

Since China’s joining the World Trade Organization (WTO) in 2001, a lot of reforms have been implemented to adjust the country’s customs regulatory system to match international standards. Today, given its current heavyweight position as a top exporter of technologies – the latest restrictions and changes to China’s export control policy could matter greatly to foreign countries.

Indeed while the export liberalization of certain items previously listed as prohibited will certainly benefit foreign stakeholders, the newly added restrictions are another matter. But here, the new changes must be considered in the international context, paying special attention to which technology exports will now be controlled and how that could affect future trade, investment, and/or economic and technical cooperation.

For instance, among the newly restricted items, the computer service industry has been subject to substantial changes. Included among the stipulated items that will now require licensing are some of the newest and most important technologies, such as information processing technology (which include speech synthesis technology, artificial intelligence interactive interface technology, voice evaluation technology, intelligent scoring technology, personalized information based on data analysis push service technology) and cryptographic security technology (which include cryptographic chip design and implementation technology and quantum cryptography technology). Other items – now restricted – are high-performance detection technology, information defense, and countermeasures technologies.

The imposed restrictions, as previously mentioned, essentially means that the identified technologies cannot be exported from China without a license. In other words, the PRC government’s approval for the export of such items, and therefore the issuance of the relevant license, is a precondition for the effectiveness of the contract for technologies export.

The licensing procedure

The licensing procedure is articulated mainly into two phases that can be summarized as follows:

Phase 1

  • Filing: The applicant shall file the application before the competent foreign trade department under the State Council.
  • Examination: The competent foreign trade department in conjunction with the science and technology administrative department under the State Council shall examine the application and, within 30 working days from the date of receipt of the application shall approve or disapprove it.
  • Issuance of a letter of intent: In case of approval, the competent foreign trade department under the State Council shall issue a letter of intent for licensing the technology export.
  • Negotiation and signature of the contract: After obtaining the letter of intent for licensing the technology export, the applicant may begin substantive negotiation and conclude a contract for the technology export.

Phase 2

  • Application for the license for technology export: The applicant shall submit to the competent foreign trade department under the State Council the letter of intent previously obtained, a copy of the technology export contract, a list of technical information relating to the export, and any regulatory document certifying the legal status of the two parties to the contract.
  • Examination: The competent foreign trade department under the State Council examines the authenticity of the technology export contract and decides, within 15 working days from the date of receipt of the documents provided, on approval or disapproval of the technology export.
  • License issuance: In case of approval, the competent foreign trade department under the State Council issues the technology export license.

Based on the current legal framework foreign companies should be prudent in dealing with Chinese companies engaging in activities related to restricted technologies –  not only when it comes to purchasing tech products, but also, for example, when they buy technologies that might be rendered (almost) useless, if not supported by the transfer of a specific know-how, patent rights, or technical services.

The bottom line here is that foreign companies should carefully evaluate any operation that involves restricted technologies in China and be aware of the risk that the Chinese government could decide to prevent them from being exported.

Timing behind China’s latest tech export controls

China has amended the Catalogue several times in the past, though the last time it did so was back in 2008. With the rapid development of science and technology and China’s own continuous improvement and rising industrial competitiveness, it was felt important that China adjust its Catalogue in keeping with international practice.

The newest changes, however, come at a different time. With the ratcheting up of US-China trade tensions, the amendments to the Catalogue is believed to be part of China’s fight back in response to the US blocking its access to sensitive technology imports as well as introducing barriers for China to access its tech market.

The timing of the Announcement itself may be pertinent – just two weeks prior, on August 14, the US President Donald Trump gave the Chinese multinational internet technology giant, ByteDance, 90 days to divest of its control of the short-format video sharing social media giant, TikTok, in the American market or risk a ban. That put the deadline at September 20. While this was initially a matter between the US entity and Washington DC, Beijing now appears to be invested and is expected to have a say on how the sale will be managed; in light of US-China back and forth, any technology controversy now gets framed in terms of national interest and intellectual property rights.

Just today alone, word got out that ByteDance was considering a sale to Oracle Corporation to manage its US operations of TikTok and that Microsoft, a leading contender up till now, was effectively out of the picture – only to be followed up with media reports that China’s latest tech export rules “could block the transfer or sale of ByteDance’s artificial intelligence technologies”. As of writing this article, ByteDance had not commented on the market rumors. However, it was reported Sunday by the Washington Post that ByteDance had made it clear to Microsoft that its proprietary algorithm, which powers TikTok, would not be for sale. What is for sale is thus only TikTok’s American operations.

About Us

China Briefing is written and produced by Dezan Shira & Associates. The practice assists foreign investors into China and has done so since 1992 through offices in Beijing, Tianjin, Dalian, Qingdao, Shanghai, Hangzhou, Ningbo, Suzhou, Guangzhou, Dongguan, Zhongshan, Shenzhen, and Hong Kong. Please contact the firm for assistance in China at

We also maintain offices assisting foreign investors in Vietnam, Indonesia, Singapore, The Philippines, MalaysiaThailand, United States, and Italy, in addition to our practices in India and Russia and our trade research facilities along the Belt & Road Initiative.


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Work starts on world’s 1st large containership LNG conversion | Brazil Modal

China’s Huarun Dadong yard has started retrofitting Hapag-Lloyd’s ultra-large containership Sajir to use LNG as fuel, in a move claimed to be the world’s first such conversion.

The 15,000 TEU vessel arrived at the Shanghai yard on August 31 for the retrofit works including the installation of a 6,500-cbm GTT LNG fuel tank.

To remind, German container shipping line tapped CSSC’s Hudong-Zhongua for the conversion project early last year. The state-owned yard is a shareholder in Huarun Dadong.

The project has been affected by the ongoing Covid-19 pandemic as Hapag-Lloyd previously planned to start the works in May.

The world’s first large contairneship conversion to LNG power has a price tag of about $30 million.

This pilot project will help Hapag-Lloyd to decide on future LNG conversions but also paves the way for other boxship owners looking to slash emissions and comply with more stringent IMO rules.

Besides new tanks, the ship’s fuel system and its existing heavy fuel oil-burning MAN engine will switch to dual-fuel power. This includes LNG and low-sulphur fuel oil as a backup.

Hapag-Lloyd inherited the LNG-ready Sajir after its takeover of UASC back in 2017. Its 16 sister ships are also LNG-ready and fit for retrofitting.

Huarun Dadong expects to complete the retrofit works on Sajir by year-end.

LNG containership year

This year will probably mark many firsts for ultra large LNG-powered containerships. Besides the first conversion, the world will see the delivery of the first two giant LNG-powered newbuilds.

As previously reported, Offshore Energy understands that CMA CGM’s 23,000 TEU Jacques Saade will be delivered to the owner this month.

The world’s largest LNG-powered vessel will serve the Europe-Asia route. It will bunker LNG from the MOL-owned and Total-chartered Gas Agility that recently arrived off Rotterdam.

Besides this vessel, CMA CGM has additional eighth sister ships on order at Hudong-Zhonghua and its unit Jiangnan.

Furthermore, the French shipping group is also involved in the second LNG containership delivery slated for this month, but this time as a charterer.

Eastern Pacific Shipping’s 15,000 TEU Tenere has completed gas trials in South Korea and is ready to start work.

The French firm will charter all of the six sister vessels scheduled for delivery from Hyundai Samho by 2022.



Source: World Maritime News


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CBN Releases Monetary, Credit, Foreign Trade and Exchange Guidelines for Fiscal Years 2020-2021

Saturday, September 12, 2020 03:16 PM /by CBN/ Header
Image Credit:  


The Central Bank of Nigeria (CBN) in 2020/2021 will continue to conduct
monetary policy anchored on the Medium-Term Expenditure Framework (MTEF) of the
Federal Government, with the objective of achieving price and financial
stability. The rationale for the aforementioned is that monetary policy impacts
its ultimate goal with a lag.


In consonance with the MTEF, the CBN is able to anchor expectations,
deliver time consistent policies and react to temporary shocks including those
associated with frequent changes in fiscal policy. The 2020/2021 Monetary,
Credit, Foreign Trade and Exchange Policy Guidelines reviews circulars issued
from the 2018/2019 edition till end December 2019 to cover the period January
2020 to December 2021.


This document outlines the monetary, credit, foreign trade and exchange
policy guidelines applicable to banks and other financial institutions
supervised by the CBN in 2020/2021.


On account of new developments in the domestic and global economies in
the period, the guidelines may be fine-tuned by the CBN without prior notice.
Such amendments shall be communicated to the relevant institutions/stakeholders
in supplementary circulars.


This document is organized in Five Sections. Section
One is the introduction. In Section Two, developments in the global and
domestic economies in 2019 are reviewed to provide a background to the policy
measures in 2020/2021.


The monetary and credit measures are enumerated in
Section Three. In Section Four, the applicable foreign trade and exchange
policy measures are presented. Lastly, Section Five discusses consumer
protection issues. The annexures to the guidelines contains prudential
guidelines, relevant reporting formats and referenced circulars.


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Rotterdam dredge set to strengthen port accessability | Brazil Modal

The project will start with preparatory work in week 40, around 28 September. After this, the contractor will dredge three berths along the southern quay wall. Parties expect to round off deepening activities in week 47 in mid-late November.

“The Port of Rotterdam Authority is happy to facilitate this trend on behalf of shipping companies and deep sea terminals, to ensure that Rotterdam maintains its status as Europe’s most attractive port of call,” said Emile Hoogsteden, vice president commercial at the Port of Rotterdam Authority.

Another move that enhances Rotterdam’s connections and accessibility is the official opening of the Ceneri Base Tunnel in Switzerland. The new Swiss tunnel is expected to improve North-South rail connection for freight transport between the Italian port city of Genoa and the Dutch port.

As most of the containers forwarded to their destination from Rotterdam are transported by truck, there is considerable pressure on the motorways around Rotterdam and further afield, according to the port authority, which is working with various authorities and the port’s private sector to increase rail freight’s share in the European modal mix.


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