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.
The growing imports of loaded containers into the US East Coast continue to be a focal point for the container shipping industry, according to a recent research analysis by BIMCO. Growing by 10.4% in Q1-2018, the first three months saw 215,000 TEU more entering the USEC than in Q1-2017.
ONE informed that it has encountered significant inflation of fuel costs over recent months, as bunker fuel prices have increased by more than 25% during 2018. This increase in fuel costs made the company to implement a Bunker cost Recovery Surcharge charge on a widespread basis.
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