Ship trading in Xiamen sees fivefold increase in first quarter

Twelve second-hand ships, worth a total of 259 million yuan ($40.52 million), have been traded in the first quarter of 2018, according to the Xiamen Shipping Exchange.

The ship trading has seen 5.6 times increase year-on-year due to the one-stop transaction service, head of the Xiamen Shipping Exchange said.

In addition to the one-stop transaction service, the Xiamen Shipping Exchange also relies on ship assessments and other key businesses.

The head of the Xiamen Shipping Exchange said that in the first quarter of this year, they finished their first assessment of chemicals ships, which will hopefully increase the soft power of the Xiamen International Shipping Center, the fourth largest shipping center of its kind in China.

Bulk cargo ships, tankships, and containerships are usually the main targets of assessment for the Xiamen Shipping Exchange.

A shipping trade service platform is also set to be launched this June, which will offer both cargo and ships, freight payment, financial insurance, ship tracking and other services.

This platform will also promote information sharing between shipowners and consignors, as well as improve the efficiency and lower the cost of shipping, thereby increasing Xiamen port's competitiveness and level of informatization, according to the head of the Xiamen Shipping Exchange.