Latest news with #ZPMC
IOL News
5 days ago
- Business
- IOL News
China and South Africa deepen economic cooperation through trade initiatives
Strengthening ties: China and South Africa enhance cooperation through trade and investment Strengthening ties: China and South Africa enhance cooperation through trade and investment With China increasing its engagement in Africa, collaboration between China and South Africa is continuing to transforming trade, investment, and economic cooperation for both nations. This week, the Daily News was granted an exclusive insight from the Chinese Consul General in Durban Li Zhigong who shed light on vast opportunities waiting to be tapped into between both nation nations. In the interview with Zhigong, praised the the burgeoning partnership between China and South Africa. The Consulate General highlighted that he was taking firm steps to promote bilateral trade and investment, especially within KwaZulu-Natal, an area rapidly gaining recognition as a gateway for Chinese investment into the region. By facilitating business delegations, organising matchmaking events, and supporting trade expos, the consulate plays a pivotal role in creating fertile ground for both South African and Chinese businesses. Zhigong highlighted that major Chinese companies, including YOA Cabel, ZPMC, and NPC, have already made significant investments in the province. Their contributions not only boost the local economy but also forge deeper economic ties between China and South Africa. For South African businesses eager to tap into the vast Chinese market, the Consul General underscored the importance of leveraging existing bilateral trade agreements. He pointed out that events like the China International Import Expo (CIE) act as vital platforms for showcasing South African products, particularly wine, which has found a warm reception among Chinese consumers. Additionally, the recent opening of the Chinese market to South African avocados and soybeans marks a significant opportunity for producers in the region. Zhigong emphasised that provinces such as Guangdong, Fujian, and Guangxi—which are sister provinces to KwaZulu-Natal—regularly host trade fairs that encourage economic collaboration. He added that prospects in sectors like the digital economy, green energy, and advanced manufacturing continue to increment the appeal of the Chinese market for South African enterprises. These industries not only promise growth but also offer a diverse array of opportunities for collaboration. "Provinces like Guangdong, Fujian, and Guangxi—KwaZulu Natal's sister provinces—regularly host trade fairs and economic forums that provide platforms for cooperation. For example, the China- ASEAN Expo in Guangxi also highlights African participation. With opportunities in digital economy, green energy, and advanced manufacturing, China offers South African companies a growing and diversified market," he explained. In conclusion, the Belt and Road Initiative (BRI) has also emerged as a cornerstone in the framework of this evolving relationship. Zhigong detailed how the BRI enhances economic ties by promoting essential infrastructure development and facilitating trade, as well as encouraging people-to-people connectivity. In addition, various logistics and energy projects aligned with the BRI are already making a tangible difference in South Africa, integrating with the country's national development goals and promoting sustainable cooperation that benefits both nations, he explained.
Yahoo
09-05-2025
- Business
- Yahoo
China's ZPMC warns of port shutdown if crane tariff goes through
WASHINGTON — Imposing a 100% tax on the world's primary supplier of container gantry cranes could lead to supply chain chaos and major damage to the U.S. economy, according to China's Shanghai Zhenhua Heavy Industries Co. (ZPMC). In comments filed with the U.S. trade representative, ZPMC, which according to the U.S. government has the largest share of the ship-to-shore (STS) crane market, warned that USTR's proposal to impose a 100% tariff on its cranes would prevent ZPMC from providing new or replacement cranes, parts and components that allow U.S. ports to operate efficiently and compete with other ports. 'The tariffs will significantly increase costs for U.S. port customers, and lead to low efficiencies in port supply chain operations due to material reliance on aging equipment or even a complete halt of port operations,' ZPMC told USTR, ahead of a hearing the agency is holding on the tariff proposal on May 19. 'The additional costs on U.S. ports will significantly increase the costs of consumer products, increase the costs of U.S. exports, and create serious inflationary pressures on the U.S. economy.'As a state-controlled company unburdened by the profit-turning pressures of its international competitors, ZPMC can offer significantly below-market prices for cranes that typically cost $10 million to $12 million or more, a marketing director for an international crane manufacturer told FreightWaves in 2022. ZPMC-built cranes are operating at the largest U.S. container ports, including those in Los Angeles, New York, Virginia, Baltimore, Seattle, Miami, Houston, Charleston, South Carolina, and Tampa, Florida. In addition to the 100% crane tariff, USTR is proposing a 20%-100% tax on Chinese-made ocean containers and on the truck chassis used to haul them to and from the ports. The gantry crane and container equipment tariff proposal follows a report issued in January by the Biden administration that found the U.S. is vulnerable to its overreliance on Chinese production of such equipment, giving China the power to manipulate maritime report led USTR in April to issue a multiphase scheme for port fees on Chinese-linked shipping based on the size of ships. U.S. ports, meanwhile, are also worried about the ramifications of the proposed tariffs, particularly given that there currently are no U.S. producers of STS cranes. Cary Davis, president of the American Association of Port Authorities, told USTR he plans to testify at the upcoming hearing 'how these steep tariffs will deter ports from building out the infrastructure necessary for America and our maritime industry to compete globally.' Port of Virginia CEO Stephen Edwards told USTR that as the size of the container ships the port routinely services climbs from 16,000 twenty-foot equivalent units to 20,000 TEUs, it will struggle to keep up without STS cranes that China and ZPMC are capable of building to support them. To give non-Chinese manufacturers time to catch up, Edwards intends to propose that the tariffs be phased in over 12 months, 'consistent with the exclusion for cranes that fulfill contracts executed prior to May 14, 2024, and that are delivered prior to May 14, 2026' under an existing 25% tax on Chinese STS cranes that went into force last year. He also will suggest that the tariffs be treated as industry-specific taxes 'and be assessed in lieu of, rather than in addition to, broader country-wide duties.' US targets Chinese-made container cranes in spy crackdown Ports call out 'sensationalized' targeting of foreign container cranes White House to Trump: Get ready for more supply chain shocks Click for more FreightWaves articles by John post China's ZPMC warns of port shutdown if crane tariff goes through appeared first on FreightWaves.
The Hindu
08-05-2025
- Business
- The Hindu
Vizhinjam port's Chinese link raises questions over next phase of procurement plans
Though the Vizhinjam International Seaport is set to redefine the maritime history of the country, the presence of a Chinese company at Vizhinjam raises some questions over the practicability of importing critical infrastructure for the next phase of the development of the port. A letter issued by the Union government in 2020 has placed restrictions on public procurement from countries sharing land borders with India, citing national security. The order is applicable for procurements done in public-private-partnership (PPP) projects receiving financial aid from the Government of India or public sector enterprises/undertakings. The Vizhinjam seaport project also comes under the purview of this order since the Centre provides viability gap funding (VGF) as a loan to the project along with financial support under the Special Assistance for State Capital Investment Scheme (CapEx). Political, security clearances Further, the order stipulated that the entity which intends to supply goods will have to get registered here by submitting an application to a competent authority. On receiving the application seeking registration from the bidder from a country that shares a land border with India, the competent authority shall first seek political and security clearances from the Union Ministries of External Affairs and Home Affairs. Registration will not be allowed unless both political and security clearance have been received, the order mandates. At Vizhinjam, Chinese-based company ZPMC, a lead global player in the crane manufacturing industry, has supplied 32 automated cranes – 8ship-to-shore cranes being used to load/unload containers from ships to docks and 24 yard cranes as well as operating subsystems and software for container management. May not be applicable However, since Adani Ports and Special Economic Zone Limited placed the order for Phase 1 cranes with ZPMC back in 2018, well ahead of when the order came into effect (July 2020), the restrictions may not be applicable. The next phase of construction of the port, for which an agreement has been signed by the concessionaire with the Kerala government to execute the work by 2028, requires at least 48 more cranes, including 12 ship-to-shore cranes and 36 yard cranes. As per the pre-feasibility report, a sum of ₹4,488 crore is required to procure the cranes from China, including for its automation. It is not clear whether the company is registered in India as per the clauses in the 2020 Union government directive. When asked, the State government officials said they would seek clarification from the Centre, while the sources in the Adani Group said the company has a registered arm in India and the procurement can be executed as per schedule with the help of the Indian arm of the company. Interestingly, when cranes were brought here in the first phase, the Centre did not grant permission to the Chinese crew to land here, and Indian employees trained in the automation of the cranes brought from Mumbai installed the cranes here at Vizinjam.
Deccan Herald
06-05-2025
- Business
- Deccan Herald
China's presence at Kerala's Vizhinjam seaport
ZPMC — which has provided 32 automated cranes and operating subsystems, which include software for container management — is a subsidiary of Chinese State-owned China Communications Construction Company.
South China Morning Post
11-04-2025
- Business
- South China Morning Post
US fires fresh broadside at China's shipyards with new executive order
US President Donald Trump has signed another executive order targeting China's dominant shipyards, in a move that adds fresh uncertainty to a global shipping sector that is already reeling from the disruptions caused by Washington's tariff war. Advertisement The latest order – titled 'Restoring America's Maritime Dominance' – brought some good news for shipping companies, as it appeared to soften a previous proposal to charge steep fees every time a Chinese-linked ship enters a US port. Washington had originally stated those fees would be as high as US$1.5 million per port call, but the figure was not mentioned in Trump's order on Wednesday – a change that came just days after a stormy public hearing in which US officials faced a chorus of objections from shipping executives. But the Trump administration remains focused on countering China, with the document ordering the Office of the US Trade Representative to consider proposing tariffs on ship-to-shore cranes and other cargo-handling equipment with links to China. The tariff proposals for cranes are wide-ranging, covering any system manufactured, assembled or containing components manufactured in China, as well as those manufactured anywhere in the world by a company owned, controlled or substantially influenced by a Chinese citizen. 05:39 Trump pauses US tariffs on most nations for 90 days but raises levies on China to 125% Trump pauses US tariffs on most nations for 90 days but raises levies on China to 125% If implemented, the tariffs would affect most US ports. Shanghai-based crane maker ZPMC reportedly had a 70 per cent global market share in the STS crane industry and supplied about 80 per cent of all STS cranes ordered by American ports in 2024.
