shipping market

Port of Rotterdam: 1% increase in cargo handling in Q3

The Port of Rotterdam published its 2019 Q3 results, according to which it saw a 1% rise in cargo handing, after it handled 112.4 million tonnes of freight, meaning that the total of 353.5 million tonnes were transmitted up to the end of the third quarter. 

South Korea and Indonesia reach trade agreement

A preliminary trade deal equivalent to a free trade agreement has been agreed between Indonesia and South Korea. The agreement establishing broader economic cooperation is aiming to boost the trade between the two countries by almost 50% by 2022. The move which comes after a five-year break from negotiations between the two countries, is part of South Korea’s on-going efforts to expand exports in the area.

Non-tariff regulations rise in Asia-Pacific trade

UNCTAD issued its Asia-Pacific Trade and Investment Report 2019 highlighting that these tariffs affect the 58% of trade in Asia-Pacific trade, adding that the non-tariff measures (NTMs) have significantly increased in the past two decades.

Partners launch blockchain application

BlocBox, Singapore-based company developing maritime apps, is collaborating with Consentium, a cryptocurrency chat-app, on developing and delivering a blockchain-based universal maritime ecosystem. This partnership will enable seafarers use social apps and a cryptocurrency wallet.

300 oil tankers excluded from the shipping market following US sanctions

Reuters reports that approximately 300 oil tankers have been excluded form the shipping market because the shipping sector is afraid of breaching the US sanctions against Iran and Venezuela, even by accident. The 3% of the worldwide oil tanker fleet is out of the shipping market resulting to rates soaring to secure tankers to ship oil, particularly to Asia.

China – US achieve ‘Phase One’ trade deal

The US and China agreed on the outlines of a partial trade accord on Friday, October 11, according to which China would step up its purchases of US agricultural commodities, agree to certain intellectual-property measures and concessions related to financial services and currency. 

Cyprus’ shipping sector reaches €1.034 billion in 2018

In light of the Maritime Cyprus Conference, which is taking part in Limassol, Cyprus, President of the Republic Nicos Anastasiades highlights the country’s discoveries of hydrocarbons in Eastern Mediterranean region and adds that the income from the ship management companies in 2018 reached the €1.034 billion.

Iran, Italy explore Chabahar-Venice shipping route

According to the Iranian Ports and Maritime Organization (PMO), Iran and Italy are under discussions for launching a key shipping route that could help increase trade between the port of Chabahar, in southeastern Iran, and Venice, in northern Italy.

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