The Royal United Services Institute (RUSI), a UK security think tank, published a report according to which the Panama flag is involved in illegal sanction-busting in North Korea. This investigation focuses on Fan Mintian, Dong Changqing and Zhanq Qiao – three Chinese nationals who have appeared in the UN Panel of Experts investigations into North Korea’s sanctions evasion activities.
In April 2018, the Department of Homeland Security of USCG released its annual report concerning the PSC performance of U.S. flagged vessels. The report includes deficiency and detention rates for each type of inspected vessel, as well as performance metrics for Recognized Organizations that perform work on the Coast Guard’s behalf.
Businesses with genuine gender diversity, particularly at senior level, perform better and see significant profit increases, according to a new ILO report. The report says that gender diversity effects beneficially when women hold 30% of leadership positions, although almost 60% of enterprises do not meet this target.
The Swedish Club highlights how to avoid wet damaged cargo. It says that heavy weather in combination with leaking hatch covers is the most common cause of wet damage on cargo. However, the main concern is the incorrectly applied and poorly maintained cargo hatch covers and sealing systems.
Due to unresolved trade tensions, high international policy uncertainty and declining business confidence, the UN announced on May 21, a broad-based slowdown in the global economy and cut its growth predictions. UN also informed that a weaker global economy puts essential investments at risk. Developing countries could feel the most impacts.
MEPC 74 concluded on Friday with a comprehensive set of guidelines for the consistent implementation of the 2020 sulphur cap. IMO also approved draft amendments to MARPOL Annex VI relating to enforcement of the 0.50% sulphur limit.
The Japan P&I Club published the results on the condition surveys that were carried out during the 2018 policy year. The aim of the survey is to maintain the standard of vessel’s management and seaworthiness above a certain level. For 2019, the Club informed that the most common defects are related to: Hatch covers; Engine room machinery; and Oil spill prevention.
According to the latest Worldwide Semiannual Artificial Intelligence Systems Spending Guide, Asia/Pacific spending on artificial intelligence systems is expected to reach almost USD 5.5 billion in 2019. This is an increase of almost 80% in spent compared to 2018. IDC expects spending on AI systems to increase to USD 15.06 billion in 2022.
World trade growth is possible to remain weak into the second quarter of 2019, according to the WTO’s latest World Trade Outlook Indicator, released on 20 May. The new WTOI reading is 96.3, exactly as it was in the previous release in February 2019, maintaining the weakest level since 2010. The latest WTOI is still well below the baseline value of 100 for the index.
The American Petroleum Institute published its latest Monthly Statistical Report showing that US crude oil production sustained a record-tying 12.1 million barrels per day (mb/d) in April. Moreover, total petroleum demand was the highest for the month since 2007 at 20.2 million barrels per day.
