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☆ The Red Sea crisis tests China’s global ambitions
▼ + stars: | 2024-01-30 | by ( Nectar Gan | ) edition.cnn.com time to read: +10 min

China’s responseThe Houthi rebels in Yemen started firing missiles and drones at ships in the Red Sea in mid-November, in what they say is an act of solidarity with Palestinians. Chinese officials repeatedly stressed that the Red Sea crisis is a “spillover” from the conflict in Gaza, citing an immediate ceasefire between Israel and Hamas as the top priority. Beijing’s reluctance to wade into the Red Sea crisis reflects these geopolitical calculations. The Chinese government readout of the meeting between Wang and Sullivan did not mention the Red Sea. Egypt is losing millions of dollars per day from the reduced traffic at the Suez Canal at the northern end of the Red Sea.

Persons: Houthi, “, ”, Mordechai Chaziza, Xi Jinping, Israel, ” Chaziza, Wang Yi, Jake Sullivan, Iran ”, we’re, Wang, Sullivan, Ebrahim Raisi, Yan Yan, OOCL, Kuehne + Nagel, Jonathan Fulton, “ can’t, ” Fulton, William Figueroa, Xi Organizations: Hong Kong CNN, Ashkelon Academic College, Beijing, Iran, People’s Liberation Army Navy, Britain, United Nations Security Council, Global, Western, Chinese Foreign, White House, Reuters, Chinese Foreign Ministry, China, Shanghai Shipping Exchange, Atlantic Council, University of Groningen, Xi’s Global Security Initiative, GSI, Hamas Locations: Hong Kong, Red, Israel, Ashkelon, United States, China, Europe, Yemen, Gulf, Aden, Djibouti, Beijing, Gaza, Bangkok, Iran, Tehran, Africa, Switzerland, Francisco, Shanghai, Abu Dhabi, Egypt, Suez, Sea, Saudi Arabia, Netherlands

For the first time, Indonesia accounted for more than 50% of global thermal coal exports during the January to October window, data from Kpler shows, indicating its success in wresting share from rival exporters. Indonesia coal exports by destinationIndia was the second largest buyer of Indonesian coal, grabbing a roughly 20% share of the total (82 million tons). Indonesia vs Australia thermal coal pricesThat compares to an average $184 per ton for the roughly 6,200 kcal/kg coal shipped from Newcastle in Australia. Indonesia coal export price vs Indonesia coal exports to ChinaThe price to ship a ton of coal from Indonesia to China is currently around $8-$10, compared to $14-$15 a ton for the Australia to China voyage, according to Shanghai Shipping Exchange data. And that means Indonesia's full-year coal exports will smash previous records for 2023 as a whole.

Persons: Gavin Maguire, Tom Hogue Organizations: Russia, TOP, China, Australia, Indonesia, Shanghai Shipping Exchange, Reuters, Thomson Locations: Cilegon, West Java, Indonesia, LITTLETON , Colorado, South Africa, Colombia, United States, Hong Kong, India, Philippines, Japan, South Korea, Taiwan, China, Australia, LSEG, Newcastle, Mozambique, Russia, Indonesian, Asia

☆ Container ships are waiting at Asian ports as retailers struggle to shift excess stock
▼ + stars: | 2023-08-25 | by ( Lucy Handley | ) www.cnbc.com time to read: +5 min

As firms making goods from apparel to electronics hold excess stock, there's less of a demand to ship products. This means some vessels are waiting in ports because of sailings being "blanked," or canceled. "We are arranging a contingency plan with alternative services," MSC added. "If you fly to Singapore, you'll see all these ships outside the port … A lot of ships are parked there waiting till there are better yields," he added. Excess stockFlexport, which is at 10th place in CNBC's Disruptor 50 list, regularly surveys customers on how much stock they're holding.

Persons: Andrew Merry, It's, Sanne Manders, there's, Manders, Bernstein, Niels Rasmussen, Rasmussen, it's, Simon Heaney, Heaney Organizations: MSC, CNBC, CMA CGM, Maersk, Baltic and International Maritime Council, Shanghai Shipping Exchange, Blank, Drewry Locations: Singapore Strait, Asia, Europe, —, Singapore, East, North Europe, CNBC's

☆ China's trade shrinks sharply as feeble demand, domestic COVID woes take toll
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +4 min

"Of much greater consequence will be the downturn in global demand for Chinese goods due to the reversal in pandemic-era demand and the coming global recession." Inbound shipments were down sharply by 10.6% from a 0.7% drop in October, weaker than a forecast 6.0% decline. But analysts remain sceptical the steps could achieve quick results, as Beijing has not announced a full reopening from COVID containment yet. China's economy grew just 3% in the first three quarters of this year, well below the annual target of around 5.5%. "As global demand weakens in 2023, China will have to rely more on domestic demand," he said.

Summary China may miss typical November-December export surgeExports unexpectedly dropped in October as global demand ebbedFall in exports broad-based, from toys to appliancesBEIJING, Nov 10 (Reuters) - China's usual year-end export surge is in doubt as weak global demand dims a rare bright spot for the world's second-biggest economy, already hurt by COVID-19 lockdowns, a frozen property sector and ebbing domestic consumption. Analysts expect global recession risks and China's disruptive COVID curbs will further drag on exports in coming months, dashing hopes for an economic rebound this quarter. Qi was not sure of the scale of orders that overseas customers would place in December. A closely watched private-sector survey focussing on small manufacturers shows export orders contracting since August. Buyers usually book orders for Christmas and Black Friday around August, but weak demand already sapped any lift this period.

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