June 15. China again threatens all world trade
The partial closure of the Yantian terminal at the Chinese port of Shenzhen is putting the entire global container trade at risk. Experts note that the consequences of such a failure could be much more serious than the blocking of the Suez Canal by the ship Ever Given in March this year.
Recall that the blockage of the Suez Canal affected 55 thousand TEU (a unit of measurement for the capacity of freight vehicles) per day and lasted six days. Problems in Yantian can affect 25.5 thousand TEU per day, and they have been going on for more than two weeks.
The reason for the closure of the terminal was the outbreak of coronavirus in the Chinese province of Guangdong, where the port is located. In addition to Yantian, problems arose in the nearest terminals Shekou (Shenzhen city) and Nansha (Guangzhou). It is worth noting that these are the third and fifth largest ports in the world.
A large amount of cargo has already accumulated outside the port, some of which is being redirected to the ports of Nanshu, Shekou and Hong Kong, but their capacity is no longer enough. Complicating the situation is the fact that customs requirements differ in Chinese ports, which also limits the possibility of redirecting cargo flows.
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June 16. The Netherlands intends to create a hydrogen exchange
The Netherlands, home to one of the world's premier natural gas trading hubs, TTF, is planning a hydrogen exchange. The project has already been named HyXchange.
The national gas company Gasunie conducted some studies, according to which it became clear that certification is required for the practical organization of a hydrogen exchange, as well as the creation of a spot market (at the very beginning of the simulation), a price index, mechanisms for balancing physical volumes and storing hydrogen.
The hydrogen price index is supposed to take into account the method of its production and the degree of the achieved reduction of CO2 emissions.
The initiators of the initiative, represented by Gasunie, the country's port authorities and market participants, are confident that the H2 exchange can serve as a catalyst for the development of the climate-neutral hydrogen market. Experts see the transportation of hydrogen from different production methods (both «green» and other low-carbon H2) in the same network, as is the case with electricity or gas. At the same time, its added value for consumers will be preserved thanks to certification.