Business

Argus Media: China transport activity picks up as coronavirus slows

Economy likely to stage quick recovery from coronavirus; with total economic impact relatively contained, says central bank.

Published

6 years ago

February 25, 2020

Admin

Lisa Huang of global energy and price reporting agency Argus Media on Monday (24 February) published an article highlighting the recovery of China’s transportation sector and economic implications as coronavirus decelerates:

China’s transport sector is continuing to resume operations amid signs the country’s coronavirus outbreak is slowing. But activity remains significantly below normal levels.

Less than 30% of China’s road transportation firms – comprising commercial passenger and cargo companies — have resumed operations following the lunar new year, while vehicle flow rates on highways across the country are only around half of normal levels, the transport ministry (MoT) said on 22 February.

Operations are expected to increase in the coming days. There were around 15.2mn vehicles on China’s highways on 21 February, 47.5% fewer than a year earlier, the MoT said. But vehicle numbers had risen by 10% each day since 18 February. Loading volumes on trains have increased since 10 February and ship turnover has reached 95% of levels seen before the lunar new year holiday, according to figures released today.

Around 28% of road transport and 41% of waterway companies had resumed operations by 22 February, according to a MoT survey of 11,854 companies. Around 65% of port operators were back on line.

Over 95% of coastal ports are operational, the China ports and harbors association (CPHA) said.

The amount of crude unloaded at China’s seven major ports, including Qingdao, Rizhao, Ningbo-Zhoushan and Tianjin, fell by 9% from the year-earlier period to 7.05mn t (around 7mn b/d) in the week ended 15 February. Crude inventories at Ningbo-Zhoushan and Rizhao ports were more than 25% higher than a year earlier, the CPHA said.

Authorities in the oil-refining hub of Shandong have removed road blocks and relaxed requirements for vehicles entering or leaving the province from having to register. This is helping ease transportation of oil and other products. Emergency measures were also eased in other provinces including Guangdong, Liaoning, Shanxi and Yunnan. Tight restrictions in Hubei province, the epicentre of the outbreak, remain in place until at least 11 March.

More migrant workers are returning to employment after the extended lunar new year holidays, boosting economic activity. Over 80mn migrant workers have returned, with 120mn more expected by the end of February and another 100mn due to return from March onwards, the MoT said on 15 February.

Work on around 15% of key road and waterway projects in 21 provinces and cities had resumed by 17 February. This is expected to pick up sharply at the end of February and in March.

Oil stocks high

A rise in transport activity would boost oil and gas demand and could help reduce inventory pressure. Oil product inventories across China were over 21.1mn t on 21 February, top economic planning body the NDRC said. LNG stocks at main suppliers are also high, as average daily gas consumption is down by 25% since 24 January compared with the period before the lunar new year, it said.

The NDRC moved to support the economy yesterday by cutting commercial electricity prices by 5% from 1 February to 30 June and implementing measures to reduce gas prices for non-residential users. It has cut retail price caps for gasoline and diesel twice this month, by a total of Yn835/t and Yn805/t respectively.

China’s economy is likely to stage a quick recovery from the coronavirus, supported by restarts at factories and inventory replenishment, central bank the PBOC said. “The most likely scenario is a V-shaped curve, which means a decline in economic activities followed by a rapid recovery, with the total economic impact relatively contained,” it said.

There were 409 new coronavirus cases in China yesterday, down from 648 a day earlier, according to government figures. The country now has 77,150 confirmed cases, 83% of which occurred in Hubei.

Source: Argus Media
Published: 25 February, 2020

Legal

Singapore withdraws remaining 127 charges against Hin Leong founder OK Lim

Lim Oon Kuin, also known as OK Lim, was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges on 17 July.

Published

16 hours ago

July 21, 2026

Admin

Founder of collapsed oil trader Hin Leong Trading, Lim Oon Kuin, also known as OK Lim, has had the remaining 127 charges against him withdrawn, according to The Straits Times on Monday (20 July).

OK Lim was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges, including those for cheating, on 17 July. The discharge means Lim cannot be prosecuted again for the same offences.

Lim, 84, is currently serving a 13½-year prison sentence after the High Court reduced his original 17½-year jail term in March 2026. He was convicted in 2024 on two cheating charges and one count of abetting forgery in a case prosecutors described as one of Singapore’s most serious trade finance frauds.

Lim was convicted in May 2024 of two charges of cheating the Hongkong and Shanghai Banking Corporation (HSBC) and one count of abetting forgery that proceeded to trial out of a total of 130 criminal charges.

He was first charged in court on 14 August 2020, and was subsequently handed further charges in court on 25 September 2020, 30 April 2021 and 24 June 2021 for his role in perpetuating fraud on various financial institutions.

A total of 130 charges were eventually brought against him for cheating and forgery-related offences.

Photo credit: Sora Shimazaki
Published: 21 July, 2026

Winding up

Singapore: Coastal Logistics Pte Ltd to be wound up voluntarily

Coastal Logistics was reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

Published

16 hours ago

July 21, 2026

Admin

Several resolutions for Coastal Logistics Pte Ltd were made during an extraordinary general meeting held on 14 July, according to a notice in the Government Gazette on Friday (4 July).

The following resolutions were duly passed during the meeting:

As Special Resolution

That it has been proved to the satisfaction of the meeting that the Company cannot by reason of its liabilities continue its business and accordingly the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018 (No. 40 of 2018);

As Ordinary Resolutions

that Mr. Wong Pheng Cheong Martin and Ms. Koay May Yee, both care of FTI Consulting (Singapore) Pte Ltd, One Raffles Quay, #27-10 South Tower, Singapore 048583 be appointed as the joint and several Liquidators of the Company for the purpose of such winding up; and
that the Liquidators be at liberty to open, maintain and operate any bank account(s) or account(s) for monies received by them as Liquidators with such bank(s) as they deem fit; and
that a Committee of Inspection will not be formed.

Manifold Times previously reported Nicholas James Gronow, director of Heng Tong Fuels & Shipping and Coastal Logistics, filed statutory declarations for both companies stating the firms cannot continue their businesses due to liabilities.

Both companies were reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

In 2019, several vessels owned by both firms entered the sale & purchase (S&P) market in Singapore.

Photo credit: Drew Beamer
Published: 21 July, 2026

LNG Bunkering

PIL’s LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on LNG and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

Published

17 hours ago

July 21, 2026

Admin

PIL's LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

Singapore-based Pacific International Lines Pte Ltd on Monday (20 July) said its first 13,000 TEU LNG dual-fuel container vessel, Kota Elok, recently made her maiden call to Singapore on 15 July.

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on liquefied natural gas (LNG) and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

The vessel also incorporated energy-saving features and digital technologies to reduce fuel consumption and enhance operational performance, as well as a bow windshield to improve aerodynamics, contributing to improved fuel efficiency and lower emissions over the course of long-haul voyages.

“Following Singapore, Kota Elok will continue her voyage on our East Coast Service 1 (ES1) route to South America, calling at ports in Brazil, Uruguay, and Argentina before returning to Asia,” the company said in a social media post.

Kota Elok also became PIL’s first vessel to receive Lloyd’s Register certification for compliance with the IACS UR E26 and UR E27 cyber security requirements.

Developed by the International Association of Classification Societies (IACS), UR E26 and UR E27 are mandatory cyber resilience requirements for newbuild vessels contracted from 1 July 2024.

Photo credit: Pacific International Lines
Published: 21 July, 2026