On 18 October, 13 partners from 6 EU Member States conducted the kick-off meeting of the European LOOP-Ports project in Valencia, aimed at easing the transition to a more circular economy in the port sector, where products, materials and resources are maintained in the economy for as long as possible.
The World Economic Forum issued the 2018 edition of its Global Competitiveness Report, marking a milestone with the introduction of the new Global Competitiveness Index 4.0. The report identifies the US, with a competitiveness score of 85.6, as the closest economy to the frontier, the ideal state.
For the past 18 months leasing companies and transport owners were challenged by the improvement in container demand last year. So, serious investment was needed if a container shortage was to be prevented. That is now wearing off and 2018 can be a record year for container production.
The members of the European Network of Maritime Clusters have unanimously agreed, during the annual meeting held in Malta, that the Brexit deal must minimise disruption at ports and to the complex European supply chains. In order to achieve this, negotiations need ‘calm heads and a sharp focus’.
In a joint press conference in the Netherlands on Monday, Chinese Premier, Li Keqiang, and Dutch Prime Minister, Mark Rutte, called for global efforts to support and promote free trade and safeguard multilateralism to tackle the current and rising challenges facing the world.
The new lease accounting standard, IFRS 16 Leases, comes into effect on or after 1 January 2019, and shipping companies need to make sure they have assessed its implications, Moore Stephens advised. IFRS 16 has the biggest impact on lessees, for whom it removes the distinction between an operating and a finance lease.
The European Commission has approved the extension of the current Danish tonnage tax scheme to additional types of vessels. This aims to encourage ship registration in Europe and contribute to the global competitiveness of the sector without distorting competition.
US tariffs to China have affected trade volumes, but not in a negative way. Namely, container traffic across the Pacific has increased, with container ships being full. This situation is possible that will not last, but exports from south Asia may continue their increasing trend.
ONE and Hapag-Lloyd have established a Bilateral Strategic Feeder Network Cooperation Agreement, joining forces on feeder services. This agreement has already started on the first trades. Initially, the cooperation will cover specific Intra-Europe and Intra-Asia feeder trade lanes.
European Shippers’ Council (ESC) announced it disapproves the mechanism of surcharges that shipping liners launch to cover the higher rate of lower sulphur fuel, calling for a dialogue with container liners, like Maersk, MSC and CMA CGM, to find the best mechanism to share the costs.
- Women in shipping
BW LNG announces first woman Captain onboard LNG carrier19/10/2018
Port of Savannah's container trade up by 12%19/10/2018
GHG emissions in US reduced by 2.7%19/10/2018
Port of Vancouver announces end of cruise season19/10/2018
IEA: Energy efficiency policies can reduce GHG emissions by 40%19/10/2018
US focuses on offshore wind with three key projects19/10/2018
UK launches new offshore licensing round for Greater Buchan area19/10/2018
EIA: US manufacturers’ ability to switch fuels decline19/10/2018
- Ship Recycling
Pakistan bans shipbreaking activities in Gadani shipbreaking yard19/10/2018
Italy proposes tax ease for sustainable shipping companies19/10/2018