Did You Know That…

 

…Middle East Port update of 14th of May  is available: Middle East port update 15.05.2026

…Trade or Taiwan? Trump and Xi struggle to set the terms. At a summit in Beijing, business deals may mask divisions on Iran, Ukraine and AI.

THE TEMPLE of Heaven in Beijing has long been a symbol of cosmological order and imperial authority. The complex, built in the 15th century, was designed to represent the relationship between the human and divine worlds, and the special role played in that by the Chinese emperor, as the “son of heaven”. At least once a year, emperors would process from the Forbidden City to the temple with a vast entourage to perform ceremonies praying for a good harvest, benevolent weather and harmony across the realm. Stability and fruitful returns were also on the minds of Xi Jinping and Donald Trump when they toured the temple on the first day of a summit in Beijing on May 14th. China’s leader greeted his American counterpart with a ceremony on Tiananmen Square, followed by talks in the Great Hall of the People. But then, unusually for a visiting leader, Mr Xi escorted Mr Trump around the Temple of Heaven in the afternoon, before proceeding to a state banquet. Mr Trump was scheduled to leave China on May 15th following more talks over tea and a working lunch.

The two leaders’ main goal, according to people involved, was to prolong the year-long truce in a trade war that was agreed when they last shook hands, in South Korea in October. (That is critical given that at their height last year, Mr Trump’s tariffs on some Chinese goods reached 145%.) Scott Bessent, America’s treasury secretary, who has been leading negotiations with China, held preparatory talks with He Lifeng, China’s vice-premier, in Seoul on May 13th. One hoped-for outcome is a deal to establish new mechanisms which will better facilitate bilateral commerce, including a “Board of Trade” and “Board of Investment”, although details are fuzzy.

Other pacts are expected too, particularly around China buying more American beef, soyabeans and Boeing airliners. Accompanying Mr Trump are more than a dozen American business leaders, including Elon Musk of Tesla, Tim Cook of Apple, Larry Fink of BlackRock and Kelly Ortberg of Boeing. Jensen Huang of Nvidia was a late addition, boarding Air Force One during a stopover in Alaska. That raised expectations of talks about China getting more Nvidia chips, craved by Chinese AI developers. On his way to the summit, Mr Trump said that his first request to Mr Xi would be for him to “open up” China to American business.

Mr Xi’s top priority is Taiwan, the self-governed island that China claims. He warned Mr Trump in their meeting that mishandling the issue could bring China and America into conflict. China has been lobbying hard for Mr Trump to delay or reduce arms sales to Taiwan and to declare that America “opposes” the island’s independence. Mr Trump alarmed Taiwan’s government this week by saying (again) that he planned to discuss the question of arms sales with Mr Xi, in apparent violation of longstanding American assurances to the island. White House officials have played down the prospects for a formal change in America’s position, however, even if Mr Trump deviates from it in off-the-cuff remarks. And Chinese government advisers say they are hoping for progress over the course of the year (with three more Trump-Xi meetings expected) rather than just at this summit.

…Ningbo Ocean to boost Southeast Asia operations with four more boxship newbuildings.

• Shanghai-listed carrier said it will issue shares to targeted investors to order four new 2,700 teu boxships

• Newbuildings will be deployed on Southeast Asian routes for key market expansion

• Ningbo Ocean acknowledges risks of container oversupply but is opting for more owned tonnage.

In latest spending spree, Ningbo Ocean Shipping bets on container demands in Southeast Asia as US tariffs and geopolitical tensions rewrite global trade routes.

…Don’t expect shipping to snap back to normalcy with a US-Iran agreement

• Exact details of an agreement have yet to be disclosed, but signs point to a 30-day negotiating window

• Rystad Energy expects at least six-to-eight weeks before credible access to MEG supplies can be achieved after an agreement is reached

• Time and clarity will also be needed for ships to leave the strait, even with a plan already in place by the IMO

• Patience will also be required for underwriters to reprice risk for vessels transiting Hormuz.

Patience will be required before any sense of normalcy can be sustained. The way this crisis has unfolded suggests that either side could still resume military action even if an agreement is ratified.

…Maersk warns excess capacity and geopolitical tensions continue to pressure box market

• World’s second-largest container line reports weaker first-quarter 2026 financial results as lower freight rates offset strong growth in container shipping volumes

• Container shipping volumes rose 9.3%, while average freight rates declined by 14% reducing profitability.

Chief executive Vincent Clerc said demand remains strong across most regions, but shipping markets are volatile.

…A.P. Moller–Maersk’s planned $1.7B investment in Vietnam is about much more than building another port. It’s a strategic bet on how global trade is being reorganized.

The project — centered on the massive Lien Chieu deep-water port near Da Nang — is expected to handle up to 5.7 million TEUs annually and accommodate ultra-large container ships. (seetaoe.com). Here’s what’s really driving the move: Vietnam is becoming a major manufacturing alternative to China. Global manufacturers have been diversifying production away from China because of:

• U.S.–China trade tensions

• tariff uncertainty

• geopolitical risk

• supply-chain resilience planning

Vietnam has become one of the biggest beneficiaries of this “China+1” strategy, attracting electronics, apparel, furniture, and industrial manufacturing investment. Maersk wants to position itself at the center of that export growth. (maritimeanalytica.com)The Vietnam project includes rail links, inland barge systems, customs infrastructure, and multimodal transport integration — not just docks. (seetaoe.com). That lets Maersk control more of the supply chain end-to-end, which improves margins and customer stickiness. Vietnam is strategically located in Asian trade routes, Vietnam is one of the fastest-growing container markets in Asia, making it strategically important.

…Hapag-Lloyd and Kuehne+Nagel are intensifying their long-standing partnership and are working together for the first time on solutions to reduce the emissions from maritime transport. Under this agreement, Kuehne+Nagel will utilise Hapag-Lloyd’s ‚Ship Green‘ option to reduce the CO₂ footprint of its seafreight transports. The agreement represents a significant step forward in the collaboration between the two companies. From April to December 2026, approximately 3,300 teu of freight transported on routes between East Asia and Northern Europe will fall under this agreement. By using certified bio-based fuels derived from waste and residues, it is expected that around 2,979 t of CO₂e emissions will be avoided based over the project’s lifecycle.

...Hapag-Lloyd maintains cautious outlook and expects slower sailing to ease capacity oversupply risks.

• Hapag-Lloyd reported a ‘difficult’ first quarter of 2026, posting a net loss of $256m compared with a $469m profit a year earlier

• Weak cargo volumes, falling freight rates and severe weather disruptions especially affected transatlantic operations

• Despite the poor start to the year, the company said second-quarter trading had improved, supported by stronger cargo volumes and healthier forward-booking trends.

Hapag-Lloyd said Middle East disruption remains a challenge, with four vessels still stranded in the region, while the company has reopened bookings to the upper Middle East Gulf using a landbridge via Oman and western Saudi Arabia.

…Job cuts at Maersk’s green shipping centre a sign of the times, says CEO.

• ‘It’s the right thing to do for the mission because of the environment that we’re in now,” Bo-Cerup Simonsen tells Lloyd’s List

• Climate ‘no longer the number-one priority among politicians and industry leaders’

• Future-focused green fuel supply chain projects to be axed in favour of policy work and energy efficiency measures.

The Maersk Mc-Kinney Moller Centre for Zero Carbon Shipping plans to cut about 30 full-time equivalent roles, saying it must refocus on shorter-term green energy projects.

…French companies will invest more than €1 billion in Kenya, French President Emmanuel Macron announced at the start of his visit to the country. Macron is in Kenya for the annual French-African summit on economic cooperation, the Africa Forward Summit. The visit has the character of a trade mission, as 140 business delegations are accompanying him. At the port of Mombasa, the French container shipping company CMA CGM will renovate two terminals in a €700 million project. Infrastructure-focused investment firm Meridiam will invest €225 million to expand a wind farm in Kenya. For Macron, Kenya is a gateway to the rest of the African continent.

…Demand rebound and Hormuz gridlock fuel container rate hikes.

• Asia-Europe and transpacific spot rates spike as demand rebounds and Hormuz closure traps ships

• Volume recovery on main lanes seen as seasonal pattern, not fuel-cost fears

• Hapag-Lloyd chief says rising rates still not enough to offset $50m-$60m weekly fuel cost spike.

Freight rates are climbing but Hapag-Lloyd says the Hormuz crisis won’t be a repeat of coronavirus-era windfalls.

…Hong Kong’s economy grew by 5.9% in the first quarter, year on year, the strongest pace since the second quarter of 2021.

…Fingernails can grow up to four times faster than toenails. One reason is blood circulation: fingers are used more often and receive better blood flow, which stimulates nail growth.

 

Wishing you all a very good rest of the week !

 

…This DYKT news bulletin will be published on the website as well, go to www.eaanetwork.com.