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Korean shipbuilders overtake China in February
International desk
13 Mar 2024, 19:32
The Korean shipbuilders overtook China in terms of ship order intake in February to take the number one spot in the global market.
According to Clarkson Research, a British shipbuilding and shipping market analysis firm, global ship orders totalled 3.4 million CGT (100 ships) in February, of which Korea won 1.71 million CGT (28 ships). An order rally by Korea’s three major shipbuilders continued in the global shipbuilding market, too.
Amid the rising ship prices, HD Korea Shipbuilding & Offshore Engineering (KSOE) recently won orders for four liquefied natural gas (LNG) carriers, two automobile carriers, two mammoth-sized crude carriers, two medium-sized liquefied petroleum gas (LPG) carriers and four petrochemical carriers. The total order value of these vessels alone is worth 2.7218 trillion won (US $ 2.0535 billion).
Samsung Heavy Industries focused on landing more profitable orders, winning a US $ 3.5 billion order for 15 173,000-cubic-meter LNG carriers on February 6 and an order for a shuttle tanker from Qatar on March 4.
Earlier, Hanwha Ocean also won orders for two very large crude carriers (VLCCs) and two very large ammonia carriers. The orders totalled about US $ 510 million for two months. The two very large crude carriers hit the highest order amount in 16 years.
Industry insiders expect that the three major Korea shipbuilders will enjoy a boom in new orders as shipping companies seek to replace superannuated vessels and face tougher environmental regulations. A steady rise in ship prices is also expected to boost the three major Korea shipbuilders’ profitability. In fact, Clarkson Research’s New Shipbuilding Index recorded 181.45 points, up 11.0 points from the same month of 2023.
The LNG carrier orders, which were mainly targeted by Korean shipbuilders, rose 6 percent year-on-year to US $ 265 million while the prices of VLCCs and ultra-large container ships rose 6.6 percent and 10.2 percent, respectively. This means that the green light is given to Korean shipbuilders in attaining their business goals for 2024.
Source: Daily Mirror
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EU pledges €3.5 billion to protect world's oceans
The European Union has bledged billion of dollars to embrace the idea of a "blue economy" to protect the world's oceans from damage caused by human activity.
The European Union has pledged €3.5 billion ($3.71 billion) to protect the world's oceans and promote sustainability through a series of initiatives this year, the EU's top environment official said on Tuesday.
Virginijus Sinkevicius, the European Commissioner for Environment, Oceans and Fisheries, said the "ocean is part of who were are, and it is our responsibility" while announcing the initiatives at the "Our Ocean" conference in Athens.
The annual conference, attended by about 120 countries, include supporting 14 investments and one reform in sustainable fisheries in Cyprus, Greece, Poland, Portugal worth about €1.9 billion.
Another €980 million under the EU's Recovery and Resilience Facility will be used in in Cyprus, Finland, Greece, Italy and Spain's to support four investments and two reforms to fight marine pollution.
The aim of the conference is to promote and support the idea of the "blue economy" which the World Bank defines as “sustainable use of ocean resources to benefit economies, livelihoods and ocean ecosystem health.”
Greece strongly embraces idea given its location
Greece, which includes thousands of islands and which has the longest Mediterranean coastline of any littoral state, also plans to present its national strategy on marine biodiversity protection at the conference.
The European Union's Copernicus Climate Change Service said last month that ocean temperatures hit a record high in February, in a dataset that goes back to 1979. Overfishing and plastic pollution are also major threats to oceans.
Plastics entering the world's oceans could nearly triple by 2040 if no further action is taken, research has shown.
China’s gold markets under strain
China’s gold markets under strain as horde of new buyers hunts for stable investment.
April has been a busy month for the Hualin International Jewelry Market in Guangzhou. A scrum of eager buyers has descended upon the venue, looking to join a new gold rush as prices soar and the precious metal takes on new life as a vehicle for investment.
Standing out as one of the few bets considered safe in China at present – with stocks, property and banking having lost their lustre in an environment of heightened uncertainty – gold has not only attracted new buyers, but also provided opportunities for the country’s middle class and youth to cash out.
The Guangzhou market, originally known for its bustling jade and jewellery trade, has been “flooded” with newly opened gold stores, with dozens emerging according to a store owner earlier this week.
“The number of customers is also increasing day by day,” said the owner, who asked not to be identified by name. “Sometimes it feels like a crowded wet market.”
“Today’s buy-back price is 554 yuan (US$77) per gram,” the merchant said. “Just now, a lady who got married last year sold me the gifts she received at her wedding, including necklaces, pendants and bracelets.”
The retail price for gold from major brands, including Chow Tai Fook and Chow Sang Sang, had risen to over 730 yuan per gram as of Friday, a multi-year high. Previous monthly peaks were observed at around 630 yuan per gram in January and 600 yuan per gram in December.
The People’s Bank of China, the country’s central bank, bought 160,000 ounces of bullion in March to bring its total reserves to 72.74 million ounces – its 17th consecutive monthly purchase according to official data – as the nation seeks to diversify its holdings away from US bonds amid frayed bilateral ties.
Rapid price changes have made for a mercurial scene. “From the beginning of the year until now, there have been customers buying gold bars for tens of thousands, hundreds of thousands of yuan,” he said. “But since the current price is extremely high, consumers are becoming cautious. Most of the new customers are buying products with lower grams.”
According to another merchant, many have begun to sell their stock.
Source: South China Morning Post
Chinese exodus leaves Cambodia boomtown with 500 'ghost buildings'
Sihanoukville saddled with unfinished projects due to casino clampdown and COVID.
An exodus of Chinese real estate companies has left this Cambodian seaside resort littered with hundreds of half-finished projects.
The concrete skeleton of one of these buildings stands on a piece of land owned by 51-year-old elementary school teacher Pan Sombo.
"This was completely unimaginable," Pan Sombo said, looking up at a high-rise with no prospect for completion.
A Chinese investor first came forward with a proposal to construct a 10-story apartment building in 2019, just when Cambodia was experiencing an unprecedented real estate boom. The investor wanted to use the teacher's roughly 750-sq. meter vacant lot.
With promises the building would be completed in 2021 and generate around 20 million riel ($5,000) a month in land usage fees -- 10 times the teacher's income -- Pan Sombo agreed to the project.
When the COVID-19 pandemic hit, the investor returned to China, saying he couldn't come back to Cambodia. That was the last the teacher heard from the investor. Pan Sombo turned to the local authorities to start the process of dissolving the contract.
Sihanoukville has no shortage of such ghost buildings. According to the city government, there are roughly 360 unfinished buildings and about 170 others that are completed but remain empty.
With an enviable location on the Gulf of Thailand coast, Sihanoukville became a boomtown in mid-2010s on wave of Chinese money. Cambodia's pursuit of economic growth found a way forward in China's cross-border Belt and Road Initiative.
Cambodian developer Prince Real Estate Group began a string of construction projects, including a luxury hotel and a shopping mall. Sihanoukville was being called the second Macao as dozens of casinos cropped up.
Then the pandemic hit. Last year, Cambodia drew only about 550,000 Chinese tourists, down 77% from 2019, according to the Ministry of Tourism. Just 15,754 passengers arrived at Sihanoukville international airport last year, a 98% decline from 2019.
This is in stark contrast to the dramatic tourism recovery seen in Siem Reap, known for the ancient Angkor Wat temple complex -- a UNESCO World Heritage Site.
Money has been slow to return to Sihanoukville after the pandemic due to the Cambodian government's clampdown on casinos and China's real estate slump. It will take $1.1 billion in additional investment to complete the unfinished buildings, according to a government estimate.
In January, Prime Minister Hun Manet announced tax breaks and preferential treatment for permit applications to try to encourage investors to rescue Sihanoukville's ghost buildings.
But with the global economy expected to slow, those measures will struggle to be effective, said Ky Sereyvath, the director-general of the Institute of China Studies at the Royal Academy of Cambodia.
Chinese investors have poured money into neighboring Asian countries, leaving them more exposed to China's economy. Cambodia is not the only example. Chinese real estate giant Country Garden Holdings' debt crisis has spilled over to Malaysia, where the fate of a $100 billion mixed-use development in Johor is in limbo.
Cambodia has a heavy dependence on Chinese money. In 2022, the Council for Development of Cambodia approved about $1.9 billion worth of foreign investments. Roughly 90% came from China.
"It'd be hard to fill the hole left by China with investments from other countries," said the manager at a Cambodian construction firm.
Long Dimanche, vice governor of Preah Sihanouk province, said Sihanoukville needs to diversify both its industry and investor countries to have a more dynamic economy. Hun Manet's government has shown an openness to attracting foreign investment.
One possibility could be Japan. Japanese companies have a smaller presence in Cambodia than in larger Thailand or Vietnam, but Japan has provided support for the port of Sihanoukville -- Cambodia's only deep-water port -- for about three decades.
Source: Nikkei Asia
Canada Must Strengthen Its Response to Transnational Repression from China
In recent times, Canada has been starkly reminded of the pervasive threat of foreign interference and transnational repression (TNR), a menace that undermines the sovereignty and safety of its citizens. While the murder of Hardeep Singh Nijjar has been drummed up Justin Trudeau and the pro-Khalistan elements publicly to point fingers at India, his death seemed more of a gang war, nothing more. However, it is crucial to pivot our attention towards another formidable source of Canadian TNR – China.
The revelation from Canada’s domestic spy agency regarding China’s interference in the last two elections underscores the gravity of suspected meddling in Canadian politics. The disclosure, made during an official probe, provides the most concrete evidence yet of China’s involvement in shaping electoral outcomes.
A slide presented during the commission hearing contained excerpts from a February 2023 briefing by the Canadian Security Intelligence Service (CSIS), stating unequivocally, “We know that the PRC (Peoples’ Republic of China) clandestinely and deceptively interfered in both the 2019 and 2021 elections.” The briefing highlighted the pragmatic nature of these foreign interference activities, which primarily aimed to bolster candidates perceived as ‘pro-PRC’ or ‘neutral’ on matters of interest to the Chinese government. This confirmation raises significant concerns about the integrity of Canada’s democratic process and calls for robust measures to safeguard against future meddling attempts.
The experiences of Canadian MP Michael Chong, who faced a coordinated disinformation campaign from China due to his criticism of the country’s treatment of Uighurs, exemplify Beijing’s audacious attempts to silence dissent abroad. This is not an isolated incident but a reflection of a broader strategy employed by the Chinese government to exert its influence and suppress opposition globally.
The plight of the Uighur community in Canada, subjected to harassment, surveillance, and threats from Chinese operatives, underscores the extent of Beijing’s reach. Activists like Mehmet Tohti and Bakhtiar Semseddin have courageously spoken out, despite the risks to themselves and their families, about the tactics employed by the Chinese government to intimidate and silence them.
Furthermore, the ordeal of Omar Abdulaziz, targeted by cyber espionage, illustrates the sophistication and intrusiveness of the tools at the disposal of authoritarian regimes like China and Saudi Arabia. The use of Pegasus Spyware in Abdulaziz’s case is a chilling reminder of the lengths to which these governments will go to clamp down on dissent, even beyond their borders.
The Canadian government’s response to these threats has been lackluster at best. While there are ongoing inquiries and discussions about strengthening laws to combat foreign interference, the victims of TNR often feel abandoned, lacking adequate support from law enforcement and intelligence services. The case of Yuekang Li, denied a study permit due to fears of espionage, signals a growing awareness but also hints at the complexity and challenge of addressing this issue.
Canada’s large and diverse diaspora communities make it a prime target for foreign interference and TNR. The state must recognize the gravity of this threat and take decisive action to protect its residents. This involves not only enhancing legal frameworks and law enforcement capabilities but also providing support and resources to those targeted by such campaigns.
The creation of a standalone definition of transnational repression, as advocated by former minister of justice Irwin Cotler, could be a significant step forward. It would clarify the nature of the threat and enable more effective responses. Moreover, the Canadian Security Intelligence Service (CSIS) and other agencies need the authority and means to engage more proactively with communities at risk, offering guidance and support.
In light of these pressing issues, it is imperative for Prime Minister Justin Trudeau and the current Canadian administration to adopt a firmer stance against China’s transnational repression tactics. Instead of appeasing Beijing, Canada must take a stand and speak out against the injustices and infringements on freedom perpetrated by the Chinese government. While addressing concerns related to any nation, including the allegations against India, it is crucial that the Canadian government maintains a balanced and principled approach. Pandering to any group, including Khalistani extremists, should not overshadow the broader imperative to challenge and counter the real and present threats emanating from China. The safety and democratic values of Canada and its residents necessitate a clear, strong, and consistent voice against all forms of foreign interference and repression, without any bias or preferential treatment.
Source: khalsa Vox
Chinese authorities arrest 4 Tibetans for protest over land grab
Tibetan residents demanded compensation for land illegally seized by authorities, sources say.
Police have arrested and detained four Tibetans who protested Chinese authorities’ seizure of pasture land owned by Tibetans in the Tibet Autonomous Region, three sources inside Tibet told Radio Free Asia.
On April 10, residents of Taktsa village in Luonixiang rural township in Markham county in Chamdo, or Changdu in Chinese, clashed with authorities after they appealed against the land grab and demanded compensation, said the sources, who requested anonymity for fear of reprisal.
In 2023, a Chinese county official illegally sold the pasture land to businessmen without the knowledge of locals and without providing them any compensation, the sources said.
The Tibetans had no knowledge that their land had been seized illegally until this April when the businessmen sent people to clear it. The Tibetans then confronted authorities, demanding payment.
Police arrested and detained four of the Tibetans, and slapped and beat many others at the scene, said one of the sources.
There were no immediate details about the status of the four or the charges against them, and it is not clear for what purpose the seized land will be used.
Despite repeated attempts, RFA did not receive any immediate response to calls to Markham county authorities and the local police station.
Chinese authorities in the Tibet Autonomous Region and in Tibetan-populated areas of nearby Chinese provinces often ignore residents’ concerns about mining and land grabs by local officials, who routinely rely on force to subdue those who complain or protest, according to human rights groups.
Over the past few years, there have been several reports of similar land grabs that have taken place in Chamdo, a resource-rich area in eastern Tibet.
Most of the land grabs have been related to mining, including copper, gold and lithium, and development projects that China has undertaken in the areas. In some cases, Tibetans have been forced from their homes.
The gesture was also seen being made by Buddhist monks and Tibetans residents during February protests in Dege county, southwestern China’s Sichuan province, in an appeal to Chinese officials to stop a planned dam project on the Drichu River.
In the videos from Markham county, young and elderly Tibetans kneel before police clad in black, and wail, while others pull and tug at the authorities to heed their pleas.
The land in question is used by about 25 Tibetan families to graze their animals and for recreation purposes, the sources said.
Chinese authorities have arrested the official who had colluded with the businessmen to illegally seize the land without compensating the Tibetans, charging him with corruption, said one of the sources.
Now, the residents are demanding compensation for the land that had been occupied, he added.
Chinese police have forbidden the Tibetans from sharing information about the incident with people outside China, the sources said.
Source: rfa
130 Chinese extradited for online fraud, cybercrimes
The General Department of Immigration (GDI) of the Ministry of Interior has extradited 130 Chinese nationals for cybercrimes, online fraud and illegal gambling.
Lieutenant General Sok Somnea, Spokesman and Deputy Director General of the GDI, said yesterday, “130 Chinese nationals were extradited on April 13, for their involvement in cybercrimes, online fraud and illegal gambling.”
“We are still looking for more of those involved in these crimes and I cannot go into more detail, as it is under investigation by the Immigration Police,” he said.
Lt Gen Somnea said that the seized servers, computers, mobile phones, SIM cards and other equipment believed to have been used for criminal activity, have been sent to the provincial court as evidence.
The Cambodian authorities are working closely with their Chinese counterparts to exchange information on the investigation, crackdown and rescue of victims of cybercrime, he said.
On Sunday, China Daily reported that China’s public security authorities, in conjunction with the Cambodian police, had recently organised a joint operation to combat gambling and fraud-related crimes.
During the operation, the Cambodian police dismantled several gambling dens and fraud operations in Preah Sihanouk province, apprehended a large number of Chinese nationals suspected of criminal offences, and seized a batch of servers, computers, mobile phones and other equipment, it said.
Under the command of the Ministry of Public Security in Hubei province, a working group was dispatched to Cambodia to carry out the extradition work in conjunction with the Cambodian police, it said.
Starting from Saturday, the individuals were extradited in batches via chartered civil aviation flights to China, it added.
Anti-gambling operations by the Cambodian authorities have been active throughout the country, especially in Preah Sihanouk province.
In a two-day operation to crack down on online fraud from March 9 to 10, the provincial authorities arrested 479 people, comprising 279 Cambodians, 109 Vietnamese, 55 Thais, 28 Chinese, eight Taiwanese and one Myanmar national.
Source: KHMER Times
Africa's El Nino crises demand action and funding
El Nino is causing extreme weather events in East Africa and a crippling drought in the south of the continent. Experts say immediate action is needed to tackle famine and displacements.
The El Nino climate pattern , a phenomenon of heightened global temperatures and erratic weather conditions, wreaked havoc across African nations throughout 2023 — and continues to do so in 2024.
East Africa has been hit by torrential rains that have cost the lives of at least 58 people in Tanzania in the first half of April, and 13 people in Kenya.
This natural occurrence brings about extremes in weather, ranging from devastating floods to prolonged droughts, with Kenya, Tanzania, Ethiopia and southern Africa among the hardest-hit.
Earlier this month, aid agency Oxfam said more than 20 million people faced hunger and malnutrition across southern Africa because of the drought.
Funding gap threatens relief efforts
While countries like Zambia grapple with their worst drought ever, seeking nearly $1 billion (more than €900 million) to provide life-saving assistance, their efforts are hampered by a significant funding gap.
Kenyan climate activist Grace Ronoh said the plight of developing nations is also burdened by debt.
"When you look at especially the developing countries, they are not able to prioritize a response to the climate crisis because for them to do this, they require financing," Ronoh said. "And at this point in time, most of the countries are debt-laden, so they will prioritize paying for debt."
While speaking at the annual meeting between the International Monetary Fund (IMF) and the World Bank in Washington, DC, Ronoh urged for reform within these institutions to streamline access to funds for climate emergencies.
"We need to remove the bureaucracies and reform the bank to make sure that it's fair and also do away with the very complicated mechanisms that really limit increasing financing to address climate issues," Ronoh said.
A UN-led event to secure donations to address Ethiopia's humanitarian crisis last Tuesday (April 16) fell well short of its $1 billion target. It did, however, raise almost $630 million (€592 million) to assist millions of Ethiopians impacted by climate change and conflict.
Strategies for the future
The UN reported that the El Nino weather pattern has led to water scarcity, parched pastures and reduced harvests affecting millions of people.
Despite this grim outlook, Dr David Gikungu, director of the Kenya Meteorological Department, says that he remains cautiously optimistic, projecting the current season to end soon in most regions.
"We are expecting the season to end in most places around the end of May. Around the coast, we are expecting it to cease around June," Gikungu told DW.
Collaboration between meteorological departments, disaster management agencies and governments is crucial, he added, highlighting the role of the Kenyan Ministry of Environment and Climate Change in spearheading these efforts in his country.
"There are offices to track and inform. We work with others who deal with disaster management, and they are all supported by the government," Gikungu said.
However, the effectiveness of existing strategies meanwhile is also stretched by the sheer scale of the crisis, as evidenced by the high death toll from flooding in some regions.
Looking ahead
The immediate focus might therefore require a shift towards securing necessary funding to deliver life-saving assistance to affected populations.
The United States has decided to allocate nearly $154 million in humanitarian assistance to Ethiopia to address pressing needs arising "from conflict, insecurity, and climate shocks," according to the US State Department, tying this aid to immediate needs rather than long-term projects.
Such immediate responses are also necessary elsewhere: For instance, in Zambia and Zimbabwe, water shortages have fueled outbreaks of cholera and other waterborne diseases, according to the World Weather Attribution (WWA) research group.
"Whenever it floods, you can expect issues of sewage," Gikungu told DW. "(W)hen you cook using contaminated water, you are looking for trouble, (such as) cholera outbreaks. These are some of the things to expect in this region."
