On February 12, Yahoo Finance published an article titled "Chinese shipping companies cash in on the red sea crisis", which was very interesting, and the translation turned out to be "Chinese shipping companies take advantage of the red sea crisis to make a fortune." Compared with the previous articles of the West ** that are still ashamed and sour, this article can be described as very straightforward and full of malice.
On February 12, Yahoo Finance published an article titled "Chinese shipping companies cash in on the red sea crisis."
Youdao's translation turned out to be that "Chinese shipping companies took advantage of the Red Sea crisis to make a fortune".
According to the article, at the moment of the Red Sea crisis, Chinese shipping companies have stepped up their transportation through the Red Sea, despite the risk of attacks by Houthi militants.
The article gives specific data: according to Lloyd's Register data, the share of container ships related to China in transit in the Red Sea increased from less than 15% last year to 28% in January this year, and a conclusion is drawn:
Chinese ships appear to have the "privilege" of safely passing through the Red Sea without being attacked by the Houthis, and are profiting from this "crisis" affecting the global shipping industry.
Some Chinese shipping companies have also launched new cargo routes connecting China with countries surrounding the Red Sea. The article gives an example, a Qingdao-based company called Haijie Shipping ***Sea Legend Shipping Pte ltd.In December 2023, it purchased seven new cargo ships and opened the Red Sea route in January this year, starting from Qingdao, calling at Chinese ports such as Shanghai and Nansha, then arriving at Red Sea ports such as Djibouti, Jeddah, Sokhna in Egypt and Aqaba in Jordan, and then going to Istanbul, Turkey via the Suez Canal, which are currently not served by large container companies.
The newly opened "Red Sea Route" of Haijie Shipping
The article quotes Simon Johnson, a professor at the MIT Sloan School of Management and former chief economist of the International Monetary Fund (IMF):
there is an axis of russia, china and iran.Translated, it means.
"There is an axis of Russia, China and Iran."Everyone, savor it, there is no longer sourness behind these words, but malice.
Simon Johnson, a professor at the MIT Sloan School of Management and former chief economist at the International Monetary Fund (IMF).
However, the article also points out that the true figure of the proportion of container ships linked to China in Red Sea transit may be exaggerated, and some ships may have declared allegiance to China in order to avoid attacks. The article quotes Richard Mead, editor of Lloyd's Register's List, as saying:
the true number may be exaggerated. crews may be claiming allegiance to china in order to **oid attack.Richard Meade has no shortage of humor
“initially the messages said ‘armed guards on board’. then ‘no contact with israel’ became the f**ourite. now, the more common one is ‘chinese vessel. no contact with israel’ or ‘all chinese’.Let's translate this part of the interesting words:
In the beginning, these guys declared: 'There are armed guards on board'.
Then it became fashionable to say: 'Our ship has no connection with Israel'.
Now it becomes: 'We are Chinese ships, there is no connection with Israel,' or simply 'the crew is all Chinese'.
In any case, the increase in routes in the Red Sea region by Chinese companies is a legitimate business act, which objectively alleviates the impact of the Red Sea crisis on the global shipping industry, and should not be subject to any unwarranted accusations.