Shipping shakeup continues as China's extended ban nears

摘要

Another major container ship operator says it's ending scrap shipments to China as that country prepares to widen its prohibition on imports of recovered material. Meanwhile, insurance providers recently analyzed the Chinese policy and its ramifications for shipping lines. CMA CGM, which is the fourth-largest shipping firm in the world by container weight, recently announced it "will reject new bookings of all types of solid waste cargoes bound to China" in order to comply with upcoming Chinese regulatory changes. The shipping company said its new rules will apply to all brands within the CMA CGM Group. The announcement described the shift as a "geographical roadmap, aiming at stopping the acceptance of shipments of solid waste cargo to the People's Republic of China," and said it would take immediate effect in most jurisdictions.