The maritime sector in Scotland directly supports nearly £10 billion in turnover and 41,000 jobs, according to a new report launched by the Centre for Economics and Business Research (Cebr) and commissioned by Maritime UK and the Scottish Maritime Cluster.
A leading shipbroker remarked to a recent conference panel session that for more shipowners to commit to LNG as fuel required much more support from the energy majors whose cargoes they might carry. In fact, Mr Christopher D. Chatterton, Chief Operating Officer of the Methanol Institute states that the majors have already come out in support of LNG as fuel.
Under the sidelines of Chinese President Xi Jinping visit to Athens, Greece and China inked an agreement to boost port of Piraeus with 600 million euros by COSCO shipping; The agreement is part of 16 trade deals signed between the two countries.
Given that China is considered to be one of the biggest coal buyer in global, its coal imports per year are estimated between 200 million and 300 million tons. According to the president of a top industry body, there is an allegation that the rate of shipments during the last two months of 2019 could slow down, setting new level standards for the following years.
The EU-budget for structural funds is in its final phase of the current budget period, but there are still some funding opportunities available for maritime projects, as the Danish Maritime Authority informs. The Interreg Baltic Sea Region Programme has open calls for seed money projects with deadline on December 9, 2019.
Although in the first place US and China top negotiators discussed on removing the additional tariffs imposed to China, in a “phase one” trade deal, the Trump administration never fully agreed to these changes, with President Donald Trump stating that the two countries haven’t come to an agreement yet.
The trade agreement between the EU and Singapore was endorsed by EU Member States, meaning that the agreement will enter into force as soon as 21 November. Under the agreement, Singapore will remove all remaining tariffs on EU products, providing new opportunities for EU services’ providers in sectors such as telecommunications, environmental services, engineering, computing and maritime transport, making the business environment more predictable.
The UK Hydrographic Office has committed to help islands across the Pacific and Caribbean support trade and develop sustainable marine economies. Through a conference, the government aims to help representatives to achieve these outcomes by developing legislation and regulations that support the safe use of the ocean.
UNCTAD published a report discussing the ongoing trade dispute between US and China, highlighting that the trade war played a crucial part in the reduction of the bilateral trade, higher prices for consumers and trade diversion effects, increased imports from countries not directly involved in the trade war.
The American Association of Port Authorities (AAPA) is concerned about the US Senate’s approval of FY2020 appropriations bill which will cut about $200 million of funding from the Maritime Administration’s Port Infrastructure Development Program, which provides port infrastructure projects through a competitive application process.
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