India is moving towards a development, investing heavily in the expansion of its naval and air power across the Indian Ocean, based on its aspiration to enhance the maritime domain awareness and maritime security and New Delhi’s growing anxieties about Chinese inroads in its strategic backyard.
The Port of Hamburg’s second strongest partner country for seaborne container handling is Singapore, following China as the first; Singapore trade with the port reached the 380,000 TEUs of containers transported between the two ports.
Following the ongoing trade war between US and China, the former’s President, Donald Trump reported that China may wait until after the elections – November 2020 – for an official deal that will ease the trade war.
Based on Drewry’s latest Ship Operating Costs Annual Review and Forecast 2019/20 report, it is highlighted that the underlying vessel operating cost inflation moderately increased in 2019 on higher repair and maintenance and insurance spend, with the future costs expected to go on the same pace in 2020.
British engineering company Anemoi Marine Technologies, the Flettner Rotor innovator, has appointed Kim Diederichsen as CEO with the aim to take the company’s wind assisted propulsion systems to the global market.
According to Xinhua news agency, China’s cargo throughput at ports rapidly increased by 8% year on year to 11.5 billion tonnes in the first ten months of 2019. Specifically, container throughput at ports achieved a 4.5% rise to about 217 million TEUs in the first ten months.
The World Bank issued its “World Development Report 2020” focusing on the development of the global value chains, the changes that have come and are about to come and the effects of the value chains in global trade.
The Indian government has approved sale of its stake in five Central Public Sector Enterprises (CPSEs), including Shipping Corporation of India (SCI), officials announced Thursday. The privatization plan for SCI foresees disinvestment of government’s shareholding of 63.75% in SCI.
By the end of October 2019, China has inked 197 Cooperation documents on Belt & Road Construction with 137 Countries and 30 International organisations, highlighting the progress of the shipping industry in terms of trade relations.
The EU-Singapore Free Trade Agreement (EUSFTA), was approved from the EU council several days ago and officially came into force today, November 21. From now on, Singapore frees all the EU products that enter in country from tariffs and EU from its side, removes the tariffs up to 84% for all the exports from Singapore.
