Oil Tight on Libyan Port Struggles
Libyan oil production could face protracted disruption as factions in the east seek to seize control of crude exports, adding pressure to a tight global market. Eastern factions have tried to take over oil exports in the past but have struggled to find buyers because Western nations insist they will deal only with the internationally recognised National Oil Corporation (NOC) based in the Libyan capital of Tripoli. But this has not stopped eastern forces from seeking control of the ports, accusing Libya's western-based government of failing to share revenues fairly.
EU to Curb Steel Imports after Trump Tariffs
The European Union will launch measures on Thursday designed to prevent a surge of steel imports into the bloc following the U.S. imposition of tariffs on incoming steel and aluminium, the EU's official journal said.The European Commission has proposed a combination of a quota and a tariff to counter EU concerns that steel products no longer imported into the United States would instead flood European markets.The measures are the third part of the EU's response to U.S. tariffs. It has also imposed tariffs on 2.8 billion euros ($3.3 billion) of U.S.
Polish Fairway Dredging Contract Awarded
A major modernization contract for the deepening and widening of a 62 km section of the Świnoujście – Szczecin fairway in Poland has been awarded to Van Oord and DEME Group subsidiary Dredging International.The investment by the Maritime Office in Szczecin will improve access to the Szczecin seaport and increase the port capacity to handle a growing volume of cargo.The project is a design and build contract to deepen and widen the fairway along a section of approximately 62 km from -10.5 to -12.5 m. The dredged materials will be used to build two artificial islands in the Szczecin lagoon.
Greek Shipowners Say EU Tax Pressure Could Make Brexit Britain Attractive
Greek shipowners could relocate to Britain after it leaves the European Union if European regulators demand changes to favorable shipping taxes in Greece, a top industry official said on Friday.The European Union has been pressing Greece to end generous tax allowances it grants shipowners, although the government has steered away from imposing heavy taxes on an industry that operates some of the world's biggest vessels."If the European Union threatens us ... obviously we will look at alternative options…
Germany Maintains Large Trade Surplus with US
Germany's exports to the United States in the first half of this year were worth 24.4 billion euros ($28.3 billion) more than its imports of U.S. goods, data from the Federal Statistics Office showed on Friday.The trade surplus was 100 million euros less than last year, but still meant Germany has the largest trade surplus with the United States than any other country, something U.S. President Donald Trump has vowed to reverse.Germany's trade surplus has also come under attack from the International Monetary Fund…
‘Pink Lady’ in the Port of Hamburg
ONE container shipping group’s first containership in novel magenta livery calls in HamburgWith her striking magenta color design, she’s a real eye-catcher in the Port of Hamburg. With a length of 320 meters and slot capacity of 8,102 TEU (20-ft standard Containers) Ocean Network Express – ONE shipping group’s ONE Continuity may not be among the biggest containerships ever seen in the Port of Hamburg, but her unorthodox color scheme has everybody staring and cameras clicking.Jan Holst…
EU Should Brace for U.S. Standoff over China, ex-WTO Chief warns
The European Union should prepare for its companies to be targeted by American sanctions in a worsening trade dispute between the United States and China, former World Trade Organisation (WTO) director general Pascal Lamy said on Tuesday.As they weigh up a response to renewed U.S. sanctions against Iran, which have forced an exodus of European companies, EU governments should consider the prospect of similar extraterritorial measures penalising China trade, Lamy told an international investment conference in Paris."If the U.S.
After Soybeans, EU Touts US LNG Imports to Woo Trump on Trade
The European Union said it was delivering on a deal with U.S. President Donald Trump to buy more U.S. liquefied natural gas (LNG) on Thursday but called on Washington to do more to make its prices competitive.In talks to urge Trump to drop hefty new tariffs last month, the EU's chief executive Jean-Claude Juncker agreed to work to increase imports of U.S. soybeans and LNG to the bloc.The EU has long worked to diversify away from relying on Russia for almost 40 percent of its gas needs by developing LNG infrastructure to access other suppliers like the United States.Whether U.S.
As Trade War Escalates, China's Steel Exports are Rising
The European Commission will this week unveil its proposed provisional "safeguard" measures to limit steel imports in response to the imposition of 25 percent tariffs on steel imports by the United States.The European Union fears that the U.S. tariff barrier will simply divert more steel into its marketplace. Others are equally concerned, with India also planning its own "safeguards".Such is the ripple effect of tariffs. Walls beget more walls.As the steel trade war heats up,…
Migrants Rescued by Boxship Land in Sicily
More than 100 rescued migrants from private cargo ship Alexander Maersk, picked up off the coast of southern Italy on Friday, arrived in the southern port of Pozzallo in Sicily on Tuesday. The new Italian government has closed its ports to ships operated by charities in the Mediterranean, saying the European Union must share the burden of disembarking migrants rescued at sea, mostly off the Libyan coast. The Alexander Maersk is a container ship owned by Maersk Line, part of Danish transport and logistics A. P. Moller-Maersk Group, and is not operated by a non-governmental organisation.
Repercussions of EU-Japan Pact for Hamburg Port
The European Union (EU) has signed its largest-ever free trade agreement. This aims to boost the economies of the EU and Japan. For instance, the deal will reduce Customs duties and other trade obstacles, stimulate growth and create new jobs.After checking the legal formulation of the text and translation, the agreement will be submitted to the European Parliament and EU member states for approval. Ideally, the pact, which has been in preparation since 2013, can come into force before the European elections in 2019. How could it make itself felt in the Port of Hamburg?
Global Automakers Hail More Ships as Trade Battles Heat Up
Automakers are scrambling to ship vehicles to the United States to pre-empt possible higher tariffs, according to port data, port officials and logistics companies. Data from a number of U.S. ports showed a surge in vehicle exports and imports in May, as U.S. President Donald Trump ratcheted up pressure on China and Europe to drop tariffs on U.S. vehicles and make other changes to their trade practices. May is the most recent month for which figures are available. The Trump administration's tariffs on $34 billion of Chinese imports are due to go into effect at 0401 GMT on Friday…
Severstal Does Not Expect Major Impact from EU's Steel Curbs
Russian steel producer Severstal does not expect the European Union's curbs on steel imports to have a substantial impact on its financial performance as its distribution mechanism is flexible, the company said on Wednesday.Severstal plans to continue supplying steel to European consumers as part of announced quotas, it added.The European Commission has proposed a combination of a quota and a tariff to counter EU concerns that steel products no longer imported into the United States would instead flood European markets.Reporting by Polina Devitt
European Shipowners Welcomes EPA
The European Union (EU) and Japan signed the EU-Japan Economic Partnership Agreement during the 25th EU-Japan summit in Tokyo. The European Shipowners welcome the signing of a highly ambitious trade agreement between two of the world's largest economies.“At a time that unilateralism and protectionism are rising, the EU and Japan are sending a strong message in support of free, fair and rules-based trade”, said European Community Shipowners' Associations (ECSA)' Secretary General…
Verifavia Signs with Two Ship Managers
Verifavia, an emissions verification company for the transport sector (aviation and shipping), has announced major cooperation’s with two of the world’s largest ship managers, namely Wallem Ship Management in Hong Kong and Zeaborn Ship Management in Hamburg (a consolidation of E.R. Schiffahrt and Rickmers Shipmanagement), to conduct verification services for European Union (EU) Monitoring Reporting and Verification (MRV) and the International Maritime Organization’s (IMO) Data Collection System (DCS)…
Port of Hamburg, Metrans Group Join for Intermodal
The Port of Hamburg and Metrans Group are intensifying their links with Lithuanian Railways. Axel Mattern, Joint CEO of Port of Hamburg Marketing, and Egidijus Lazauskas, Deputy Director-General and Director Freight Traffic for Lithuanian Railways, have signed a Memorandum of Understanding in Vilnius to strengthen cooperation on the routes to and from the Port of Hamburg.In addition, Hamburger Hafen und Logistik AG - HHLA’s intermodal subsidiary Metrans, and Lithuanian Railways signed a Letter of Intent to promote and improve cross-border freight flows.For years…
London P&I Club Setting up Cyprus Office over Brexit
British ship insurer London P&I Club is setting up a new subsidiary in Cyprus to ensure continued access to trade in the European Union in case Britain loses single market access, the group told Reuters on Friday.Britain dominates the global marine insurance market and losing access to specialist Protection and Indemnity (P&I) clubs could weaken its multi-billion pound shipping services sector."We have … chosen Cyprus to establish our new post-Brexit EU subsidiary, and we are currently going through the process of setting it up and obtaining the necessary license," London Club said in a statem
Euro Zone Trade in Goods Surplus Shrinks as Exports Drop
Euro zone's surplus for goods traded with the rest of the world dropped in May as exports fell and imports increased, one month before United States' tariffs on European steel and aluminium kicked in, official data showed on Monday.The European Union's statistics office, Eurostat, said the 19-country currency bloc had a goods trade surplus of 16.5 billion euros ($19.3 billion) in May, compared with 19.3 billion a year earlier, according to non seasonally adjusted estimates.The reduced surplus was caused by a 0.8 percent fall in exports compared with a year earlier…
Matthew to Head BIO-UV Group's New Asia Office
BIO-UV Group, the France-headquartered manufacturer of the fully type-approved BIO-SEA ballast water management system, has appointed Steven Matthew to head up the company’s new sales office in Hong Kong.While Matthew’s focus initially will be on increasing sales of the UV-based BIO-SEA ballast water treatment system in China, Hong Kong, Taiwan, and Vietnam, BIO-UV Group ASIA, established on August 4, 2018, will target the Asia-Pacific market as a whole.With fewer components and welded parts…
APL Introduces Weekly Japan Russia Service
Ocean carrier APL unveiled a new Japan Russia Express (JRX) service, which it says is the only weekly Japan-Russia ocean freight service to be available in the marketplace.A jointly operated service with TG FESCO, the JRX service will commence sailing from Yokohama on 24 August on the following rotation: Vostochny – Vladivostok – Yokohama – Shimizu – Nagoya - Kobe – Busan- Vostochny.Russian-destined cargoes from Yokohama to Vostonchny and Vladivostock will be delivered in as soon as seven and nine days respectively.
Emissions monitoring and reporting means ECA’s, EPA VGP, EU MRV’s, IMO-DCS, RO’s, SEEMP – and you. Fear not: the daunting acronyms can all be managed by employing the right technology.In the past decade, shipowners have faced a raft of new regulations aimed at reducing the pollution from their ships, whether in new environmentally sensitive emissions control areas (ECA) or on the open seas that serve as the primary conduit for 90% of global trade. Limits on sulphur emissions within ECAs such as the Baltic and North seas have been in effect since 2005…
Trump Bets on New European LNG Terminals
U.S. President Donald Trump expects the European Union to fund 9 to 11 liquefied natural gas (LNG) ports to absorb "vastly" more shipments from the United States but current EU investment in new projects will only help open small markets.In a White House press conference with Italian Prime Minister Giuseppe Conte late on Monday, Trump said part of the U.S.-EU trade talks sought to expand America's reach into the continent's gas markets which were awash in Russian supply."And we are already talking to the European Union about building anywhere from 9 to 11 ports…
White House Escalates China Trade Dispute in hopes for Early Solution: Kemp
The United States has adopted an "escalate to negotiate" strategy towards China, threatening a dramatic hike in tariffs to try to force a resumption of trade talks while the U.S. economy remains strong and as elections approach in November.U.S. President Donald Trump has reportedly rejected a plan to levy tariffs of 10 percent on an additional $200 billion of imports from China and ordered aides to prepare a proposal for tariffs at the higher rate of 25 percent.The levies are…
Tilbury Port to Capitalise on Opportunities to Boost Trade
Tilbury Port and the people that work there will play a major role in helping the UK to increase international trade after we leave the European Union.International Trade Secretary Dr Liam Fox visited Tilbury Port to meet with port workers and management, as well as members of the Tilbury on the Thames Trust.Tilbury is the fastest growing port in the UK and a £1 billion investment programme will see the port employing 9,000 people by 2020, 3 times more than it did in 2012. One…
EU Commission Proposes New Fund for Maritime Economy
For the next long-term EU budget 2021-2027, the Commission is proposing EUR 6.14 billion under a simpler, more flexible fund for European fisheries and the maritime economy. The new European Maritime and Fisheries Fund will continue to support the European fisheries sector towards more sustainable fishing practices, with a particular focus on supporting small-scale fishermen. It will also help unleash the growth potential of a sustainable blue economy towards a more prosperous future for coastal communities.
Croatia Reopens Bidding for LNG Terminal Capacity
LNG Hrvatska launched a second round of bidding for potential operators of an offshore liquefied natural gas (LNG) terminal in Croatia's northern Adriatic on Friday, after the previous round drew little interest.Last week, Croatia's parliament passed a law to enable the construction of the terminal, part of a European Union drive to diversify away from Russian gas imports.The project, which will be built on the island of Krk will be partly funded by the EU but has been criticised by environmental groups and local councils.LNG Hrvatska…