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West African waters most dangerous for piracy attacks, IMB says

ICC published a report on piracy and armed robbery in the timeframe from January 1 to June 30, 2019. Based on the report, the seas circling West Africa are the most dangerous for piracy, as of the 75 seafarers taken hostage onboard or kidnapped for ransom worldwide so far this year, 62 were captured in the Gulf of Guinea – off the coasts of Nigeria, Guinea, Togo, Benin and Cameroon. 

Global trade reached a new peak of US$18.5 trillion in 2018

The International Chamber of Commerce Banking Commission released its 2018 Trade Register report, highlighting once again the low risk nature of trade finance in comparison to other asset classes. In 2018, global trade reached a new peak of US$18.5 trillion.

International symposium mulls WTO reform for sustainable economy

The world trading system should be continuously re-examined with regard to reforming the World Trade Organization (WTO) and the governance of data flows, given the escalation of trade restrictive measures and the impact on businesses, said Mr Akahoshi, President of JETRO. 

Parties of stopping the maritime transport of counterfeits meet

Representatives from major global brands, maritime companies and US law enforcement agencies met, as part of the on-going collaboration of signatories to the ‘Declaration of Intent to stop the Maritime transport of counterfeits’(DOI), in Washington DC, to determine how collaborate to stop the maritime transportation of counterfeit goods.

New report outlines negative effects of tariffs

A report, commissioned by the International Chamber of Commerce, provides global policymakers with an evidence-based overview of the far-reaching economic and social consequences of trade tariffs. The report outlines 10 possible effects of a return to the destructive tariff increases of the 1930s. The consequences, illustrated by two case studies, range from an increase in poverty to worse health outcomes.

ICC urges UK to take the ‘no-deal Brexit’ scenario off discussions

The Secretary General of the world’s largest business organisation has warned that the possibility of UK to exit the European Union without a ‘Brexit deal’, not only will it bring various barriers to the international trade, but it will also result to many British loosing their jobs.

ICC Academy develops certificate for Non-Vessel Owning Common Carriers

The ICC Academy in collaboration with the International Maritime Bureau, has established a specialised certificate for Non-Vessel Owning Common Carriers Bills of Lading. The programme aims to increase standards and reliability of maritime trade for active NVOCCs and their trading partners.

Panama Canal wins the repayment of $847 million

The International Chamber of Commerce in Miami (ICC) has ordered the Grupo Unidos por el Canal (GUPC) consortium to repay the Panama Canal Authority (ACP) a total of USD 848 million in contract advance payments.

Legal uncertainty still surrounds e-bills of lading, report says

Law firm Clyde & Co, along with the ICC Banking Commission, have launched a report regarding the legal status of electronic bills of lading. The report analyzes whether the law reflects the technological change that is taking place in the international trade sector.

Best practices for tackling counterfeit goods in maritime supply

Representatives from major global brands and maritime companies have developed a set of best practices for the maritime industry to limit the volume of counterfeits shipped around the globe through checks on their customers and supply chains. The new document covers due diligence recommendations.

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