The European Shippers’ Council raised concerns about the implementation of the Emergency Bunker Surcharge by carriers. Carriers explain the introduction of this surcharge by the increase of the bunker oil price. However, ESC said that the use of such measure is not justified.
While coal demand and imports in Europe, India and China are slowing down in line with efforts to reduce carbon footprint across the globe, emerging consumers in South East Asia will salvage coal trade to a certain extent, said global shipping consultancy Drewry.
Norway will challenge the US tariffs on steel and aluminium as it believes that these tariffs are violating the World Trade Organization rules. The US established a 25% tax on steel and 10% tax on aluminium from the EU, Mexico and Canada, from June 1. Namely, Norway filed a challenge to the WTO on Tuesday, June 12,
European shipowners, represented by the ECSA, expressed their concerns about recent developments on global trade relations. The concerns are raised after the US implemented tariffs on EU, Mexico and Canada, while the result of the G7 meeting last weekend did not offer any solution.
German shipping line Hapag-Lloyd, the world’s fifth largest container company, has stopped one of two feeder services to Iran and will decide on the remaining one before a November 4 deadline imposed by the United States, which has recently reimposed sanctions on Tehran.
The growing imports of loaded containers into the US East Coast continue to be a focal point for the container shipping industry, according to a recent research analysis by BIMCO. Growing by 10.4% in Q1-2018, the first three months saw 215,000 TEU more entering the USEC than in Q1-2017.
ONE informed that it has encountered significant inflation of fuel costs over recent months, as bunker fuel prices have increased by more than 25% during 2018. This increase in fuel costs made the company to implement a Bunker cost Recovery Surcharge charge on a widespread basis.
EU submitted eight pages at the World Trade Organization setting out 25% tariff increases for the US regarding steel and aluminum. Mexico will impose 15% to 25% tariffs on US steel and some agricultural goods. Canada will impose retaliatory tariffs on £9.6 billion worth of US exports and challenge US steel and aluminium tariffs.
Three shipping giants, Maersk, MSC, and CMA CGM, have announced introduction of Emergency Bunker Surcharges, due to increasing fuel costs. The British International Freight Association, the trade association for UK freight forwarding and logistics companies, calls for an end to shipping line surcharges.
Three shipping giants, Maersk, MSC, and CMA CGM, making up together more than 45% of the global container capacity, announced introduction of Emergency Bunker Surcharges, due to increasing fuel costs. In view of this, iContainers suggested that a more transparent and long-term solution for implementing EBS is required.
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