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WTO: World trade growth to slow further in Q4 2018

Trade growth is likely to slow further into the fourth quarter of 2018, according to the WTO’s latest World Trade Outlook Indicator (WTOI) issued on 26 November. The most recent WTOI reading of 98.6 is the lowest since October 2016 and reflects declines in all component indices. The latest Indicator is below the previous value of 100.3.

Low Rhine water levels force refineries to reduce production

Low water levels on Rhine are are causing a continuous problem for the European commodity markets since summer. This led many refineries and industrial plants to reduce production, and in some cases to declare force majeure, Gibson reports. In October, depths at the key measuring point of Kaub reached a record low of 25cm.

How Syria sanctions affect the petroleum trade

The London P&I Club reminded operators that both the European Union and US are applying trade sanctions against Syria. These include prohibitions on the transport of crude oil and petroleum products from Syria, as well as restrictions on Syria’s oil and gas and electricity generating industries amongst a number of other measures.

Maersk denies reports that it is losing ground

According to Alphaliner, Maersk has lost ground worldwide, while its rivals have gained. It also added that its total container market share was 1.5% less the last year, after the acquisition of Hamburg Süd. However, the company’s COO Søren Toft replied that the company has experienced steady growth and it uses its tonnage better.

BIMCO: Short-term rate recovery for tanker market not expected

The continued austerity of the tanker market conditions led owners to dig deep into the oversupply of capacity, with BIMCO expecting the tanker fleet to keep growing. However, a short-term rate recovery is not expected, because of the refining industry’s maintenance season.

EU supports Japanese complaint against S. Korean shipbuilding industry

The European Union wants to take part in a complaint that Japan filed against the South Korean shipbuilding industry, according to the World Trading Organization (WTO). Namely, Japan has requested WTO dispute consultations with South Korea concerning alleged subsidies provided by the Korean government to its shipbuilding industry.

Drewry: Increasing Indian sugar exports could hurt dry bulk market

Rising exports from India and Thailand are expected to partly replace Brazilian sugar in Asia and the Middle East. This could damage tonne-mile demand in the dry bulk market, Drewry reports. The increase of oil prices make Brazil divert more sugarcane in comparison to ethanol production.

European Parliament votes to increase transport budget by €7bn

The European Parliament’s Committee on Transport and Tourism and the Industry Committee voted to raise the general envelope of the Connecting Europe Facility transport budget by €7bn to €33.51bn. The new CEF transport funds will go towards improving connectivity and accessibility across Europe.

CMA CGM increases bunker surcharge for short sea lines, Mediterranean

Due to increasing oil prices, CMA CGM announced that it will adjust the amount of the Emergency Bunker Recovery measure to recover this increase. The new measure will be valid from December 1st, 2018, until further notice. Emergency bunker recovery surcharge has a direct connection to volatility of oil price.

Maritime UK welcomes Brexit deal

After the draft agreement regarding UK’s exit from the EU, Maritime UK welcomed this development. Namely, David Dingle, Chairman of Maritime UK, said that the agreement will not satisfy everyone, but it offers a solution to avoid major disruptions.

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maritime events

Alerts Casualties Loss Prevention Maritime Health Regulation Safety Seafarers Security
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Following instructions vital to avoid injuries
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Heavy tensioner pad falls near deck supervisor
glow sticks
Glow sticks may hide chemical risks
Arctic Ballast Emissions Fuels Green Shipping Pollution Ship Recycling Technology
e waste
EU to deny citizens longer-lasting and repairable products resulting to e-waste
cop 24
IMO focuses on strategy for shipping emissions reduction at COP 24
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Facility to improve safety of LNG to be created
Connectivity Cyber Security E-navigation Energy Efficiency Maritime Software Smart
drones
Port of Amsterdam trials monitoring system to explore drones
lrit
Tunisia joins EU LRIT Cooperative Data Centre
Propulsion Analytics: Unlocking the benefits of ‘Digital Twin’ concept for shipping
CIC Detentions Fines PSC Focus Vetting
lng carriers
Fines on LNG carriers for cargo shortages in India
MSC
MSC pays $630K for violating air quality regulation
korea
S. Korea top court orders Mitsubishi to pay for WWII forced labour
CSR Shipping Sustainability Women in shipping
e waste
EU to deny citizens longer-lasting and repairable products resulting to e-waste
Sea Shepherd to scrap ‘M/Y Steve Irwin’
australia
Australia’s Labor Party makes inquiry to improve maritime industry
Finance Fishery Infographic Maritime Knowledge Offshore Ports Reports Shipbuilding Short Sea Yachting
port of portland
Ballpark to be created at Port of Portland’s Terminal 2
transparency in fishing
Ten principles for global transparency in fishing industry
feport
FEPORT: Consistency and coordination needed between EU policies
Magsaysay: Making maritime training attractive for the young seafarers
Propulsion Analytics: Unlocking the benefits of ‘Digital Twin’ concept for shipping
OSM Maritime: Raising awareness on cyber risks is the first step
Marlink: Securing available connectivity onboard is vital