At the EU-Japan summit in Tokyo, on July 17, the two parties signed the EU-Japan Economic Partnership Agreement. The trade agreement between two of the world’s largest economies includes provisions that promise a free trade, something that ECSA welcomed in a statement.
The European Commission announced provisional safeguard measures regarding imports of a number of steel products. These measures address the diversion of steel from other countries to the EU market as a result of the recently imposed US tariffs. The measures will come into effect on 19 July.
Saint Lawrence Seaway Development Corporation published its 2018 study of the economic impacts of shipping in the Great Lakes-St. Lawrence region. According to the report, cargo moved on the Great Lakes – St. Lawrence Seaway System in 2017, totaled 143.5 million metric tons valued at US$15.2 billion/C$19.8 billion.
Maersk Line, Mediterranean Shipping Company and ZIM announced a new strategic cooperation on the Asia – US East Coast trade. As of September 2018, Maersk and MSC will provide four of their operated loops to a combined operation of five loops with ZIM between Asia end the US East Coast.
Since the initial proposal of the “21st-Century Maritime Silk Road” concept by China in October 2013, it has received positive responses from many countries around the world; and route network for the maritime silk road has become more distinct, argue Xinhua and The Baltic Exchange in their latest ISCD report.
In a bid to respond to the needs of shipowners and the ship financing and legal community, the Republic of Liberia amended its maritime law to allow lease financing structures to be recorded as mortgages. As such, Liberia is the only flag state with preferred status in China able to record financing charters.
In their recent ISCD report, The Baltic Exchange and Xinhua cite what they believe to be the new trends in global shipping, including a shift in new technologies with the emerging concept of intelligent ports and a greater concern for shipping’s environmental footprint with the implementation of green policies.
Amid dwindling orders and tough competition, South Korean shipbuilders as represented by the Korea Offshore & Shipbuilding Association called Monday on steelmakers to keep the prices of shipbuilding plates at current levels, until their businesses are ‘back on track’.
Singapore is considered as the top world’s shipping centre for the fifth year in a row, followed by Hong Kong, London, Shanghai and Dubai. The outcome is based on the International Shipping Centre Development Index issued by Baltic Exchange and Xinhua news agency.
After the UK government released its Brexit White Paper, describing how this will happen, Maritime UK and BPA welcomed it. As they both say, this White Paper will ensure the free flow of trade between the EU and UK borders, which remains amongst Brexit’s major concerns.
- Maritime Knowledge
Emergency Procedures: Rescue from Enclosed Space20/07/2018
Salvage companies hired to refloat 'MV Priscilla'20/07/2018
- Green Shipping
Court dismisses New York's lawsuit against major oil companies20/07/2018
Inmarsat: Steps toward GMDSS modernisation20/07/2018
7 ways to make healthy habits a priority when at sea20/07/2018
13 die as 'duck boat' sinks due to storm20/07/2018
Maersk Line, Cosco services in Nigeria suspended20/07/2018
Possible special passage regime at Port of Amsterdam due to drought20/07/2018
Two ships refused access in Paris MoU region20/07/2018
- Maritime Knowledge
Why practicing mindfulness meditation onboard20/07/2018