China becomes Japan's largest trading partner

China has become the largest trading partner of Japan with cumulative trade value rose 14 per cent year on year to US$191.9 billion from January to October in 2007.

At the same time Japan found itself the third largest trading partner of China. Value of trade between the two countries for the first time exceeded $200 billion in 2006. By the end of October, Japan has invested $60.8 billion in 39,334 projects in China, making it the second largest investor in China.

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Wuhan's Yangluo Port capacity to reach 150,000 TEU

Capacity of the Port of Yangluo in the middle reaches of the Yangtze of near the central city of Wuhan is expected to reach 150,000 TEU by the end of the year.

Yangluo's capacity will rise to 210,000 TEU by 2011 and surpass 260,000 TEU by 2020. According to the development plan, the city has attracted CNY10 billion (US$1.4 billion) investment for the mega logistics park which covers an area of about 670 hectares and is expected to generate revenue between CNY20 - CNY30 billion. In another deal, customs in Wuhan and Nanning recently signed a regional customs clearance co-operation memo to provide convenience for trade between Hubei and south east Asia via Nanning.

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GL Opens New Office in Vladivostok

Pushed by strong shipping investments and a world-wide shortage in yard capacity, Russia’ shipping industry is back in business.

Accordingly, the demand for classificatory services increases. With its new site-office in Vladivostok classification society Germanischer Lloyd systematically expands its surveyor network. The service network in Russia managed by Guido Försterling encompasses offices in St Petersburg, Volgograd and Komsomolsk-on-Amur. Another site-office will be opened in Novorossijsk soon. The classification society offers the full range of services for shipowners from newbuilding surveillance to International Safety Management (ISM) and International Ship and Port Facility Security audits. GL is also closely cooperating with the State Marine Technical University of St Petersburg (SMTU), jointly propagating high scientific standards and practical relevance for a first class maritime education.

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