Belgian tanker shipping company, Euronav, published its second quarter and first half of 2019 results. Euronav’s CEO, Hugo De Stoop, reported that they took a loan to assist the company better-prepare for the approaching IMO’s 2020 sulphur cap.
Greece’s newly elected right-wing Prime Minister Kyriakos Mitsotakis announced plans to boost domestic maritime industry, on the sidelines of a visit to the Ministry of Shipping and Island Policy in the port city of Piraeus, Thursday. The plan is threefold.
As part of its investments to improve transportation infrastructure, the Government of Canada announced an investment of $20 million to increase rail capacity near Abbotsford resulting in a significant increase in overseas trade to and from terminals in the Port of Vancouver.
Genting Hong Kong (GHK), cruise operator, agreed to sell a 35% of its interests in its cruise Brand, Dream Cruises. The cruise operator noted that the transaction would result to a USD 470 million gains, while in the meantime increase the net asset value of GHK shares by USD 5.5 cents.
According to New York Times, India increased the cost estimate of a refinery and petrochemical project, that will be jointly constructed by Saudi Aramco and Abu Dhabi National Oil Co, by more than 36%, following farmers’ protests on relocating the plant. The project is to be commissioned in 2025.
Wellard, Australia’s largest live cattle exported received and accepted a proposal on selling the M/V Ocean Swagman for USD 25.2 million to Panama-based Trim Shipping, part of Nova Marine Holdings.
According to Intermodal Association of North America (IANA), its activity was weak during the second quarter of 2019. IANA’s estimate concerning the intermodal container activity highlights the deepening of the freight recession that railroads and trucking companies saw in the 2019 second quarter.
Japan’s cabinet on Friday approved a plan to remove South Korea from a “white list” of trusted trading partners, escalating the already damaged diplomatic relations between the two states in regard to wartime reparations. In response, South Korean government also revealed plans to remove Japan from its own white list.
The WTO’s latest World Trade Statistical Review 2019 confirming a continuous uncertainty on global trade and a rise on trade-restrictive measures. The report highlights that trade continues to be concentrated. The ten leading traders in 2018 represented more than half of world trade.
Amid an ongoing trade war between China and the US, as well as major geopolitical tensions globally, it is likely that total ordering activity will be softer near term, representing a downside risk to the positive development of newbuilding prices, according to VesselsValue.
Captains established for new Australian Antarctic research vessel19/08/2019
USCG's role on Offshore Renewable Energy Installations19/08/2019
USCG considers amendments to persons in charge of fuel oil transfers on inspected vessels19/08/2019
USCG published new guidelines for Oil Spill Removal Organization classification program19/08/2019
Irish dock workers urge for better protection at Ireland’s ports19/08/2019
Balearia ferry runs aground off Spain19/08/2019
PSA Thailand invests in developing Thai Prosperity Terminal19/08/2019
Building starts for AIDA's next LNG cruise ship19/08/2019
Neste launches 2020 sulphur cap compliant fuel19/08/2019
ExxonMobil hires Singapore’s first LNG-powered tanker19/08/2019