A China’s former trade negotiator has raised questions about the country’s plan in the trade war with the US. According to Long Yongtu, who participated in China’s entryn to the World Trade Organization, believes that the government made an error by immediately retaliating against US tariffs.
The Republic of Seychelles has launched the world’s first sovereign blue bond, according The World Bank. The bond, which raised US$15 million from international investors, is a pioneering financial instrument designed to support sustainable marine and fisheries projects, demonstrating the potential for countries to harness capital markets for financing the sustainable use of marine resources.
Ahead of the final arrangements for Brexit, the British Ports Authority said that it may take some before the industry can see what implications the final deal will have for ports. BPA’s Chief Executive, Richard Ballantyne, noted that currently there is uncertainty regarding the potential future cross-border processes.
US importers are stocking up on Chinese goods before the import tariffs apply, Maersk informed. However, it warned that a trade war would damage demand for container shipping in the future. The trade war will damage the container industry, as after a spike in shipments, a slowdown will follow next year, Mr. Skou added.
Japan has requested WTO dispute consultations with South Korea concerning alleged subsidies provided by the Korean government to its shipbuilding industry. Japan claims that the challenged measures, which include funds, loans, guarantees, insurance and other financing, are inconsistent with WTO’s SCM Agreement and the General Agreement on Tariffs and Trade (GATT) 1994.
Speaking in Tokyo, the Chairman of the International Chamber of Shipping, Esben Poulsson, gave emphasis on serious concerns regarding the challenge that the US presented ‘to the proven benefits of multilateralism and the existing global trading order’ .
China is postponing its decision that would have allowed the use of tiger bone and rhino horn by hospitals and domestic trade in antique tiger and rhino products. Before this, during October, chinese authorities lifted a quarter-century ban on the use of tiger and rhino parts.
Myanmar and China signed an agreement regarding the Kyauk Phyu Special Economic Zone Deep-Sea Port Project. The project is part of the Belt and Road initiative, while its first phase will cost about $1.3 billion. The first phase of the project will cost about $1.3 billion.
The Afghan Ministry of Transportation is considering to form the shipping sector, in order for ships to be able to conduct commercial activities flying the Afghanistan’s flag in free waters. The shipping line which will be shared with neighboring countries such as Iran and India, along with other countries of the region as well.
Odfjell reported its results for Q3 2018, which as the company said, reflect a stable chemical tanker market, despite the fact that the market remained depressed during the quarter. Currently, the global core chemical tanker orderbook remains at 8% of the current fleet.
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