According to the U.S. Commerce Department, for the first time after almost six years the overall U.S. trade deficit narrowed during 2019. Namely, regions’ imports were fallen faster than the exports in the middle of protracted trade tensions.
As Reuters reports, the Baltic Exchange’s main sea freight index dropped on Wednesday, February 5, with the capesize segment dropping to an all-time low due to reduced demand for ships and the muted activity in China due to the coronavirus outbreak.
Huntington Ingalls Industries (HII) agreed to acquire Hydroid, a provider of advanced marine robotics, wholly owned by Kongsberg Maritime. HII and Kongsberg Maritime will also establish a strategic alliance to jointly market naval and maritime products and services.
BBC reports that except disruptions in the shipping industry, the coronavirus has negatively affected crude oil performance, as the cost of crude hit its lowest level in a year after falling 20% since its peak in January. The flight restrictions also impact crude oil as the demand for jet fuel is declining.
Representacoes Proinde have produced a guide to cargo claims in Brazil. Brazil is a cargo-owning nation, and there has been little or no interest from the civil society and lawmakers over the years in getting the country to adopt global conventions on carriage of goods, Steamship Mutual says.
Under the European Merger Regulation, the European Commission announced the approval of a newly-proposed joint venture between the French shipping company CMA CGM and China International Marine Containers Neocontainer Logistics Limited (CIMC Neocontainer), part of CIMC Group.
In fact, two scrubber manufacturers backed by Frontline and Navig8 Group have completed a merger to create one of the world’s biggest suppliers of exhaust gas cleaning kits. Namely, Clean Marine has finalized the tie-up with FMSI, as planned earlier in October.
An in-depth Competition and Markets Authority (CMA) review has provisionally found that the proposed merger between Prosafe and Floatel raises competition concerns. According to the UK CMA, both companies supply semi-submersible offshore accommodation support vessels (semi-submersible ASVs) to oil and gas companies, which are consequently used to provide accommodation space for employees working offshore and are a key facility for some types of work in the North Sea.
ABS was recently awarded $2.1 million for two of its projects based on enhancing safety in the offshore oil and gas field. The grant was given by the Gulf Research Program (GRP) of the National Academies of Sciences, Engineering, and Medicine under their $7.25 million investment on 8 projects, aiming to further develop safety offshore.
According to the Peterhead Sheriff’s Court, a Scottish skipper has been found guilty for assaulting and racially-aggravating harassment upon five non-European crewmemebes, during a six-year period.
HHLA reports increase of containers handled in 201917/02/2020
Watch: Ferry vessel struggles to berth under storm Dennis17/02/2020
IMO meets to ensure enforcement of carriage ban17/02/2020
- Maritime Health
Coronavirus case confirmed after passengers disembark Westerdam in Cambodia17/02/2020
Germany to develop grid simulator for wind turbines17/02/2020
India greenlights structural overhaul of major ports17/02/2020
Search operation in the UK finds body of missing seafarer17/02/2020
Europe must double its wind installation for Green Deal17/02/2020
Green groups pressure IMO to ban ships carrying HFO in Arctic17/02/2020
Two thirds of maritime schools in Philippines could close for failing to comply with STCW17/02/2020