China Unveils Vision for ‘Polar Silk Road’ Across Arctic

BEIJING, Jan 26 (Reuters) - China on Friday outlined its ambitions to extend President Xi Jinping's signature Belt and Road Initiative to the Arctic by developing shipping lanes opened up by global warming. Releasing its first official Arctic policy white paper, China said it would encourage enterprises to build infrastructure and conduct commercial trial voyages, paving the … [Read more...]

Why China’s Plan to Build a Nautical Silk Road Runs Through Singapore

As the son of a man who journeyed from China to Singapore and founded a shipping business a half century ago, Teo Siong Seng sees his life as one immersed in the ancient trading networks of Asia. So the managing director of the Pacific International Lines Group is seeking to benefit as China rejuvenates its Silk Road routes to the Middle East and Europe. He is setting up a … [Read more...]

China’s Deserted Road Turns Sorry Substitute for High Seas

By David Fickling (Bloomberg Gadfly) -- Think China's plans to build railways across central Asia will be a boon for global trade? Consider this: The mighty Trans-Siberian Railway carried about as much east-west container traffic last year as you'd get on a single boat. In a single voyage, MSC Oscar can carry: 2.4 million microwave ovens. Transit container traffic over … [Read more...]

New Silk Road Index Charts Shipping Industry’s Stormy Waters

By Colin Simpson (Bloomberg) -- A new Chinese shipping index that tracks freight movements among the countries on the route of one of President Xi Jinping's key trade initiatives has fallen to the lowest level since it was established. The Maritime Silk Road Freight Index was launched on a trial basis by the Shanghai Shipping Exchange last July. The index takes January … [Read more...]

U.S. Touts ‘Batman’ Destroyer as Obama Courts Asean Leaders

By David Tweed and Toluse Olorunnipa (Bloomberg) -- U.S. officials are looking to superheroes in their quest to preserve Asia’s postwar security order in the face of an increasingly assertive China. “If Batman had a ship, this’d be it,” Admiral Harry Harris, head of U.S. Pacific Command, told a crowd of Asia specialists in Washington last month as he pointed to a slide of … [Read more...]