Tag "Pacific Ocean"

Malacca Strait: China’s strategic chokepoint

in Maritime Knowledge by
Vessel traffic in the Malacca Strait via FleetMon Explorer

There’s a popular saying in the Maritime sector: Whatever happens in China, affects global shipping. Remember the beginning of the COVID-19 pandemic when ports all across China were closed off? According to Alphaliner, more tonnage of container ships remained idled around the world than during the global financial crisis during this period. Daily charter rates for tankers and bulk freighters plummeted more than 70% from normal levels as China bought less oil, iron ore, and coal.

Or take a look at the country’s oil statistics:

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