Yangpu Port registers 1st foreign-funded ship

The Ma Yue vessel. [Photo provided by Xinle Shipping]

The Xinle Shipping's vessel Ma Yue, an oil products tanker, has just completed import customs clearing processes in Yangpu Port, Hainan Province, South China. This vessel is the first international ship registered at Yangpu Port that is owned by a foreign-funded company, demonstrating the value of the Hainan Free Trade Port.

Singapore Global Energy Overseas Pte initially owned the Ma Yue vessel, which had a cargo of 5,036 metric tons. The company began to expand the Chinese market in Hainan with the publication of the Overall Plan for the Construction of the Hainan Free Trade Port in June 2020, and launched Xinle Shipping in Yangpu on June 11, 2021.

Xinle Shipping submitted for the registration transfer of Ma Yue in Yangpu Port on March 2 of this year, and two Thai crew members of the Ma Yue vessel applied for a certificate of competency recognition visa on March 7 with the Hainan Maritime Safety Administration. The two crew members were the first international crew members to earn the necessary qualifications to work aboard Yangpu Port-registered ships.

Four hundred twelve shipping industry-related market players registered and settled in Yangpu between June 2020 and February this year, with 204 registered ships containing 8.97 million tons of deadweight tonnage. There are 33 foreign ships registered in Yangpu Port with a total deadweight tonnage of 5.17 million tons, putting Hainan in second place in the country for the number of international ships registered.