Responding to the US government’s announcement earlier this week on the imposition of an additional $200 billion in protective trade tariffs against Chinese imports, AAPA urged federal policymakers to consider the negative impacts that tariffs have on port and other trade-related American jobs.
ING informed that from its €500 billion lending portfolio, it will begin steering towards meeting the Paris Agreement’s well-below two-degree goal. ING will do this by creating the Terra approach, using science-based scenarios to steer its business strategy. Terra measures the needed shift in technology.
The escalated trade war between the world’s two economic giants, the US and China, could cause fewer ships to use the Panama Canal, but this could be offset by grain exports from north Brazil, according to Panama Canal Authority.
Although global premiums for the offshore energy insurance sector dipped by 5% in 2017, signs of recovery are on the horizon. This was the key outcome for the offshore sector of this year’s International Union of Marine Insurance (IUMI) conference in Cape Town.
During the IUMI conference in Cape Town, Chair of the Ocean Hull Committee, Mark Edmondson, stressed a continuing deterioration of premium income against the more positive picture of an improving risk profile. Nevertheless, the international market has improved during 2018.
The German Insurance Association made an attempt to answer what should insurers and competent authorities focus on the next months ahead Brexit. Although UK has underlined that they want to keep a comprehensive partnership with the EU, GDV warns that a “Cliff Edge” for insurers remains a viable option.
Maersk informed that it will change the fuel adjustment surcharge ahead of the 2020 sulphur cap. The new Bunker Adjustment Factor (BAF) aims at recovering the Maersk Line costs of compliance with the global sulphur cap which enters into force on 1 January 2020.
Presenting its annual statistical report on marine insurance at this week’s annual conference in Cape Town, the International Union of Marine Insurance (IUMI) highlighted an increasing mismatch between income levels and covered risk, although global marine premiums were up by 2%
In the video, Mr Peter Sand, BIMCO’s Chief Shipping Analyst, provides an extensive insight on the latest market conditions for shipping: Dry bulk has recently seen an improved market except the iron ore segment, container shipping is a little bit ‘disappointing’, while tanker shipping is extremely bad market right now.
As the global community becomes more interested in- and aware of- the devastating impacts of climate change, more and more industries have shown a shift towards environmentally-friendly solutions. This could not leave the financial sector unaffected. But how financial institutions form part of the green transition?
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