Wind and solar are set to surge to almost “50 by 50” – 50% of world generation by 2050 – on the back of precipitous reductions in cost, and the advent of cheaper and cheaper batteries that will enable electricity to be stored and discharged to meet shifts in demand and supply, said BNEF in its New Energy Outlook 2018.
Businesses’ failure to manage the earth’s natural resources or “natural capital” has consequences that extend beyond environmental effects. A new report by Allianz Global Corporate & Specialty has categorized the transportation sector into the ‘danger zone’ in terms of natural capital risk exposure.
Less bureaucracy and more trade agreements can be a good response to increasing protectionism in the west and state aid in the east. This is what Denmark’s Foreign Minister Anders Samuelsen believes, adding that the current situation will not affect free trade. However, ensuring free trade will be a difficult task.
Trade war between the world’s two largest economies showed signs of igniting, as US President Donald Trump said he will implement a 25% tariff on $50 billion of goods from China that contain industrially significant technologies. In response, Beijing said it would impose tariffs “of the same scale and strength”.
Disputes between shipowners and charterers can take place when additional mooring ropes are required by a port. This causes confusion as to who is responsible to bear the cost. North P&I Club presents such a case and provides recommendations on how to reduce the risk of such disputes from happening.
The European Shippers’ Council raised concerns about the implementation of the Emergency Bunker Surcharge by carriers. Carriers explain the introduction of this surcharge by the increase of the bunker oil price. However, ESC said that the use of such measure is not justified.
While coal demand and imports in Europe, India and China are slowing down in line with efforts to reduce carbon footprint across the globe, emerging consumers in South East Asia will salvage coal trade to a certain extent, said global shipping consultancy Drewry.
Norway will challenge the US tariffs on steel and aluminium as it believes that these tariffs are violating the World Trade Organization rules. The US established a 25% tax on steel and 10% tax on aluminium from the EU, Mexico and Canada, from June 1. Namely, Norway filed a challenge to the WTO on Tuesday, June 12,
European shipowners, represented by the ECSA, expressed their concerns about recent developments on global trade relations. The concerns are raised after the US implemented tariffs on EU, Mexico and Canada, while the result of the G7 meeting last weekend did not offer any solution.
German shipping line Hapag-Lloyd, the world’s fifth largest container company, has stopped one of two feeder services to Iran and will decide on the remaining one before a November 4 deadline imposed by the United States, which has recently reimposed sanctions on Tehran.
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