Yangtze port strategy undergoes quiet shift

Under new rules from the US Trade Representative, ship-to-shore cranes ordered before May 14, 2024, and arriving by May 14, 2026, will avoid a 25% tariff on imports from China.

Shanghai International Port Group (SIGP) reported a 23.1% year-on-year increase in revenue for the first half of 2024 and a 14.8% increase in net profit.

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.

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