Tag: shipping industry

Cyprus's maritime industry turns to education aiming to invest in the development of the marine sector that has placed Cyprus flag 11th biggest registry and amongst the top three ship-management hubs. Cyprus maritime schools aim to promote marine professions in order to boost shipping companies, while in the meantime plans are being conducted in order to add maritime training in the technical schools.

Liberia is now the second largest ship registry in the world, according to Clarksons in its Clarksons World Fleet Monitor January 2019. This report confirmed that, in gross tonnage terms, Liberia has surpassed the Marshall Islands, which is now in third place. Alfonso Castillero, CCO of the Liberian International Ship & Corporate Registry added that the quality of service and the rapid response are key factors behind the growth.

Closing the Maritime 2050 strategy event, Parliamentary Under-Secretary of State for Transport, Nusrat Ghani explains that there is the need to ensure that these career opportunities are open to everyone, irrespective of their gender or background, which is not the case nowadays. She added that only 4% of the 10,600 UK certified officers active at sea are female.

China managed to keep its top position in the global shipbuilding industry in 2018. The previous year, Chinese companies constructed 43.2% of the new ships worldwide, in comparison to the 41.9% of 2017. Chinese shipbuilding companies are the base of the country's leading role in the sector, according to the China Association of the National Shipbuilding Industry.

According to the Confederation of British Industry (CBI), all parts of Britain will experience economic difficulties in case of a No-Deal Brexit. Namely, if the UK leaves the EU without a deal, then it will suffer an economic loss which may last until 2034. The CBI noted that the North East of England region would receive the hardest hit, as it would lose 10.5% of its real gross value added.

The global economy may be experiencing difficulties, but it is not falling over, key stakeholders attending the World Economic Forum in Davos, Switzerland, believe. They explain that the expansion is weakening, but not enough to lead to a recession. The markets faced some difficulties lately, with the trade war between the US and China, Brexit and the US government shutdown, being the main issues.

Moore Stephens published its annual report for owner managed business, saying that due to continued uncertainty, owner managed business confidence has decreased for 2019. This shows a declining confidence for 2019, as well as the prospects for business performance in the year to come. The main reason for the reduction in confidence is Brexit.

The McKinsey Global Institute published the report Globalization in transition: The future of trade and value chains, analyzing the dynamics of global value chains. The report found structural shifts that have been hiding, and noted that global value chains are being reshaped by rising demand and new industry capabilities.

The Danish Maritime Authority informed that Denmark has the fastest growing flag in global shipping? Namely, during 2018 Denmark experienced an increase of 19,9 % in terms of gross tons, which is the largest annual increase ever. Hong Kong and Liberia presented the largest gross tonnage improvement.

As UK's Prime Minister's, Theresa May, deal for Brexit was rejected by 230 votes, major businesses in Britain seem to be in loss and beyond warned as a no-deal Brexit seems closer. According to Reuters, businesses are afraid of crucial job losses and mayhem at ports whether the country does not see eye to eye with a European Union withdrawal.