Strengthening global growth could be derailed by a range of factors this year, including the coronavirus outbreak and a further escalation of trade tensions, although these tensions seem to be easing for the time being, says Peter Sand, Chief Shipping Analyst at BIMCO.
Maersk secured a new sustainability-linked revolving credit facility of $5.0bn through a syndicate of 26 selected banks. The facility is linked to the company’s CO2 performance. More specifically, the credit margin under the facility will be adjusted based on Maersk’s progress to meet its target of reducing CO2 emissions per cargo moved by 60% by 2030.
The Baltic Exchange, the world’s independent source of maritime market data, has issued its reports for the last week, 17-21 Feb 2020, to provide information of the bulk and dry market performance. The information is used by shipbrokers, owners & operators, traders, financiers and charterers as a reliable and independent view of the dry and tanker markets.
Copenhagen Infrastructure Partners (CIP) announced that reached financial close for the 589 MW offshore wind project’s establishment in the coast of Changhua County, Taiwan. In fact, the Changfang and Xidao wind farm will be powered by 62 of MHI Vestas 9.5MW turbines and are expected to begin operations in early 2024.
After Piraeus Bank’s announcement on 12 July 2019 that it was exploring a possible partnership with a major Asian Pacific financial conglomerate, it has now entered into an exclusive, strategic collaboration agreement with ORIX Corporation, a Japan and US-listed company, for the provision of financing solutions to the Greek maritime sector.
A new freshwater charge that was applied this month in order to help the Panama Canal address climate change, will eventually cost the shipping industry up to $370 million a year. This fact marks another hit for the industry, after the coronavirus blow.
The transport and logistic insurer TT Club along with the global provider BSI issued the “Cargo Theft Report 2020” highlighting the impact of cargo theft on the global supply chain, while giving its recommendations of how theft risks can be reduced.
The World Trade Organization published its goods trade analysis for December 2019, and the results indicate that “trade volume growth may continue to weaken into early 2020,” even without taking the COVID-19 (coronavirus) epidemic into account.
The coronavirus has caused major disruption in the oil sector, as now the Energy Information Administration (EIA) states that the global liquid fuels demand will average 101.7 million barrels per day in 2020.
The Maritime and Port Authority of Singapore (MPA) announced they will provide to passenger vessels a 50% port dues concession, to assist those who have experienced a drop in passenger volumes due to COVID-19 outbreak.
BIMCO: Coronavirus, trade tensions could derail global growth in 202026/02/2020
Port of Colonia handles vessel from nearly sinking26/02/2020
ADNOC to expand its carbon capture and storage program26/02/2020
NSPCA applies to court over live export to Kuwait26/02/2020
MPA: coronavirus circular for Singapore registered ships26/02/2020
- Women in shipping
Regent Seven Seas Cruises names first cruise ship launched by a woman Captain26/02/2020
Future offshore wind farms could host seaweed farms under new agreement26/02/2020
Supervision vital when working aloft26/02/2020
Floating Offshore Wind Committee launched26/02/2020
- Green Shipping
DNV GL identifies 3 technologies to reduce CO2 emissions26/02/2020