Fakes Make Up 3.3% of Global Trade
Trade in counterfeit and pirated goods, mostly originated in China, has risen steadily, posing a major challenge in an innovation-driven global economy, revealed a new study.Trade in counterfeit and pirated goods has risen steadily in the last few years – even as overall trade volumes stagnated – and now stands at 3.3% of global trade, according to a new report by the Organisation for Economic Co-operation and Development (OECD) and the EU’s Intellectual Property Office.Trends…
Dutch Authorities Demand Clean-Up Costs From MSC Line
Dutch authorities will hold Swiss shipping line MSC liable for the cost of cleaning up debris from more than 270 cargo containers that fell off one of its vessels and washed up on shore, officials said on Friday.The Dutch coastguard said a criminal investigation had been launched by prosecutors into the incident, one of the largest of its kind off the coast of the Netherlands.The containers, some holding hazardous chemicals, fell off one of the world's largest container ships…
Lost containers Bring Windfall to Dutch Islanders
Dozens of containers with items including flat-screen televisions have washed up on Dutch islands in the North Sea after a ship lost part of its cargo in heavy seas, bringing a windfall for local treasure hunters.The Dutch Coast Guard said up to 270 containers had fallen off the Panamanian-flagged MSC ZOE, one of the world's biggest container ships, in rough weather near the German island of Borkum and floated southwest toward Dutch waters.Containers broke open on the shores of the Dutch islands of Terschelling and Vlieland.
China 'Welcomes' High-Quality U.S. Products
China welcomes high-quality and competitive products made by the United States to enter its market, the commerce ministry said on Wednesday. Both China and the United States will seriously implement a deal reached in Washington, including the purchase of farm and and energy products, the ministry said in a statement. China said on Tuesday it would cut import tariffs for automobiles and car parts in the effort to further open up its markets. Reporting by Beijing Monitoring Desk
European Commission Fines Four Car Carriers $486.5mln
The European Commission (EC) said Wednesday that it had fined four maritime car carriers 395 million euros (U.S. $486.5 million). Four shipping companies – CSAV, K Line, NYK and WWL-Eukor – have been fined by the EC for collusion in operating a cartel on the car carrier trades, in breach of EU antitrust rules. All companies acknowledged their involvement in the cartels and agreed to settle the cases. Commissioner Margrethe Vestager, in charge of competition policy said:"The Commission…
Port of Antwerp Appoints New Brazilian Representative
Henrique Machado Rabelo, who has for some time already been responsible for commercial and institutional contacts and will now be focusing on the latter, was recently joined by Ricardo Sproesser, who will manage and develop the commercial contacts. Sproesser has over 20 years’ experience in the maritime and logistics sector, and is without any doubt an asset to the Brazilian team. “Brazil is a key trading partner of our port community. In terms of share in the annual maritime traffic destined for Antwerp, Brazil ranks sixth,” says Luc Arnouts, commercial director of the Antwerp Port Authority.
Japan Automakers Impacted by U.S. Port Dispute
Japanese automakers are being forced to ship some car parts to U.S. plants by expensive air cargo and tweak production processes as a protracted labor dispute at U.S. West Coast ports shows no signs of letting up. Fuji Heavy Industries Ltd's Subaru, the fastest-growing brand in the United States, said this week that it now had to shoulder an extra 7 billion yen ($60 million) in costs a month due to air freight, which has seen prices go up with the extra demand. "It looked like the labor talks were going well at one point but in recent days the slowdown has grown quite severe…
Thieves Fry Kenya's Power Grid to Cook Fast Food
(Thomson Reuters Foundation) - The morning scene is increasingly routine for Kenyans. When it's time to start the day, the power is already out. Somewhere nearby, the shell of a wrecked electrical transformer lies on its side underneath the pole where it had been fixed 20 feet off the ground. The culprit is an unusual one: A vandal who is selling the toxic oil, drawn from the transformer, to chefs who use it for frying food in roadside stalls. Five liters of the viscous, PCB-laden liquid sells for $60. It looks like cooking oil, but lasts much longer, users say.