Ningbo expanding

Government imposes 100% tariff on EVs and 25% tariff on some steel products from China.

Kazakhstan is developing a new trade route from China to Russia via the Irtysh River, with a port and railway planned, aiming for completion by 2026.

Yang Ming has declared General Average for YM Mobility following an explosion at Ningbo Port, requiring all stakeholders to share the costs of the incident.

Under China’s new subsidy scheme, shipowners can receive financial support for scrapping vessels aged between 15-30 years depending on the vessel type, as well as investing in alternative vessel propulsion.

The New Silk Road, popularly known as part of China’s Belt and Road Initiative, is helping world trade avoid world trouble spots, including overland alternatives to hazardous maritime routes

The fire on board YM Mobility seems to be under control with ‘no visible flames on board’ as cooling efforts continue following Friday’s explosion, according to Yang Ming.