China Launch World-First Shipping Route
China has launched the first shipping route to connect the Middle East and the Beibu Gulf, south China's Guangxi Zhuang Autonomous Region, which comprises the ports of Qinzhou, Beihai and Fangchenggang, according to Chinese state news agency Xinhua.
The Iranian container ship ‘Perarin’ arrived at Qinzhou Port on January 27, 2016 to deliver 978 containers from several countries along the Maritime Silk Road.
The Maritime Silk Road was proposed by China to boost foreign trading in and around the Indian Ocean and as a way to boost trading relationships.
The deal aims to boost business relations between China’s Lianyungang Port and Malaysia’s Port Klang.
Tim Smith, Chairman for Maersk China, previously stated that China’s One Belt, One Road strategy could be the key for stimulating world trade and boosting demand, which recently hit records lows of below 400 within the Baltic Dry Index.