Kemp: Trade Restrictions puts World Economy at Risk
Trade and investment restrictions are proliferating around the world, driven by a combination of security concerns and protectionist pressures. In each instance, policymakers can usually cite a justification of why trade and investment restrictions are necessary. But taken together, a thickening web of restrictions on cross-border transactions is imposing a growing burden on business as well as complicating supply chains. The United States and China have threatened to hit each…
EU Demands Compensation for US Steel Tariffs
The European Union is seeking compensation from the United States for U.S. tariffs on steel and aluminium, despite Washington's assertion that they are not subject to World Trade Organization rules, a WTO filing showed on Monday. In a step already taken by China, the EU said it did not accept the "national security" justification for the U.S. tariffs but said they had been imposed just to protect U.S. industry. "Notwithstanding the United States' characterisation of these measures as security measures, they are in essence safeguard measures," the EU statement said.
Panama Canal LNG Volume Soars as Global Demand Grows
The Panama Canal may carry five times as much liquefied natural gas (LNG) in 2020 as it did last year as production of the fuel expands in the United States and Asian import demand rises, the head of the canal's governing agency told Reuters.LNG volumes traversing the Canal could hit 30 million tonnes a year before the end of 2020, said Jorge Quijano, who leads the Panama Canal Authority, up from 6 million tonnes last year.Demand for LNG has risen significantly in the last three years as the increase of supply…
Oldendorff Halts Guyana Operation Due to Rusal Crisis
German shipping group Oldendorff Carriers is stopping its business in Guyana, the company said on Friday, after the United States blacklisted Russian aluminum producer Rusal, which has a plant in the South American country.The United States on April 6 imposed sanctions against Russian entities and individuals to punish Moscow for its alleged meddling in the 2016 U.S. election and what the U.S. Treasury Department dubbed other "malign activity".Since then, the world's two biggest…
Shipping Firm MSC Stops Trade with Sanctioned Russian Entities
The world’s number two container group Mediterranean Shipping Company (MSC) has stopped any new potential trade with Russian entities that were sanctioned by the United States, the Swiss headquartered firm said on Tuesday. The United States imposed sanctions on April 6 against Russian entities and individuals, to punish Moscow for its alleged meddling in the 2016 U.S. election and other "malign activity". "MSC immediately instructed its worldwide agencies not to engage in any new contracts involving U.S.
U.S., China Stumble into the Thucydides Trap: Kemp
The United States and China have fired the opening shots in a trade war that may be hard to stop. Washington has published a target list of 1,300 items imported from China worth an estimated $50 billion that would be hit with an extra tariff of 25 percent (“Notice of determination”, USTR, April 3). Beijing has responded with a target list of 106 items imported from the United States worth a similar amount that would be hit by the same ad valorem tariff (“China retaliates for U.S. tariffs”, Reuters, April 4).
COSCO's OOCL Acquisition to Complete by End-June - vice chairman
Deal waiting for green light from CFIUS, China regulators; COSCO says keeping close eye on US-China trade tensions. COSCO Shipping's planned acquisition of Orient Overseas Container Line (OOCL) is on track to be completed by the end of June, the company's vice chairman Huang Xiaowen said on Tuesday. COSCO is still answering questions from the Committee on Foreign Investment in the United States on the deal, and is also awaiting a number of domestic approvals, Huang told a press conference in Shanghai. He said the deal needed U.S. approval as OOCL had some assets in that country.
Trump Economic Adviser says U.S., China Trade Deal Likely
White House economic adviser Larry Kudlow on Thursday said he expects the United States and China to work out their trade differences over time and that trade barriers likely "will come down on both sides." "There is a process here. There's going to be some back and forth, but there's also some negotiations," he said in an interview on Fox Business Network. "I think we are going to get a deal over a period of time." Reporting by Susan Heavey and Makini Brice
China Hammers US Goods with Tariffs
China has increased tariffs by up to 25 percent on 128 U.S. products, from frozen pork and wine to certain fruits and nuts, escalating a dispute between the world's biggest economies in response to U.S. duties on imports of aluminium and steel. The tariffs, to take effect on Monday, were announced late on Sunday by China's finance ministry and matched a list of possible tariffs on up to $3 billion in U.S. goods published by China on March 23. Soon after the announcement, an editorial…
XPO Logistics Unveils Voice Tracking
XPO Logistics Inc, the largest provider of last-mile deliveries for heavy and bulky items in North America, unveiled on Wednesday voice-enabled delivery tracking through Amazon.com Inc's Echo or Alphabet Inc's Google Home speakers.XPO believes it is the first large delivery and warehousing company in the world to offer consumers the ability to get delivery tracking updates, or schedule and reschedule deliveries, using smart speakers, the company said at a conference in Atlanta.The voice-enabled technology…
General Dynamics NASSCO Builds Second Matson Containership
General Dynamics NASSCO has started construction on the second ship in a two-ship series of Kanaloa-class containerships for Matson Navigation Company, Inc. Construction of Matsonia began with a ceremonial first cut of steel at NASSCO's San Diego shipyard where the first ship in the series, Lurline, is 15 percent complete. Both ships will transport containers, automobiles and rolling stock between the West Coast of the United States and Hawaii. Using proven design standards, the ship design incorporates liquefied natural gas-capable main and auxiliary engines…
IMO Reaches Deal to Cut CO2 Emissions
The United Nations shipping agency reached an agreement on Friday to cut carbon emissions, following years of slow progress. The compromise plan, which will cut emissions by at least 50 percent by 2050 compared with 2008 levels, fell short of more ambitious targets. Kitack Lim, Secretary-General of the International Maritime Organization (IMO), said the adoption of the strategy "would allow future IMO work on climate change to be rooted in a solid basis". The IMO said it would also be pursuing efforts towards phasing out CO2 emissions entirely.
SS United States Conservancy, National Theatre to Present
The National Theatre, in collaboration with the SS United States Conservancy, is pleased to present author Steven Ujifusa speaking on his fascinating debut biography A MAN AND HIS SHIP: America’s Greatest Naval Architect and His Quest to Build the S.S. United States on Wednesday, September 12 at 6:30 PM. The book chronicles the efforts of William Francis Gibbs to build America's Flagship, the SS United States. The United States, still the fastest and safest passenger liner ever…
Renewed Effort to Save SS United States
As momentum builds for the effort to save and repurpose the greatest American ocean liner ever built, the SS United States Redevelopment Project (SSUSRP) announced that it has named New Canaan Advisors LLC (NCA) as real estate advisors to a growing team leading this exciting redevelopment program. New Canaan Advisors will assist the SSUSRP on a number of aspects related to transforming the historic ship into a stationary, multi-purpose waterfront destination. The SS United States…
Update on Labor Negotiations
Update on United States Maritime Alliance And International Longshoremen's Association Labor Negotiations. Federal Mediation and Conciliation Service Director George H. Cohen issued the following statement today on the labor negotiations between the United States Maritime Alliance and the International Longshoremen's Association: "The United States Maritime Alliance and the International Longshoremen's Association conducted negotiations during the three day period January 15-17, 2013.
Jones Act Gets Staunch Support
The United States Congress this week enacted the strongest statement of support for the Jones Act and the American domestic maritime industry since the Merchant Marine Act of 1936. The measure was included as part of the National Defense Authorization Act (H.R. 3979), which noted that the national security benefits of the domestic maritime industry and the Jones act are “unquestioned.” The bill states that the Jones Act and the American domestic maritime industry are vital to…
Kvichak Names Kirby as Proposal Manager
Kvichak Marine Industries in Seattle Washington announces the appointment of Kevin Kirby as their new proposal manager. Kevin has been with Kvichak for over 2 years as a project lead engineer. His most recent projects include the recently launched 67’ Connor Foss Pilot Boat, a 54’ hydrofoil catamaran, the 30’ Rapid Response Skimmers and the Bridge Erection Boat prototypes currently undergoing testing by the US Army. Prior to Kvichak Kevin was with SAFE boats for 8 years where he worked on multiple aluminum boat projects for the United States Navy…
SS United States: Deal Reportedly brokered to Save Historic Ship
A deal has been brokered to save the historic liner SS United States, with full details scheduled to be announced in New York City on Thursday, February 4, 2016. Once the queen of the express liners, and the fastest, safest and biggest passenger liner in history, the SS United States for years has quietly awaited rescue in Philadelphia. Built by Newport News Shipbuilding and Drydock Co. (now Huntington Ingalls Industries (NYSE: HII) and designed by legendary William Francis Gibbs (Gibbs & Cox, Inc.
Republic of the Marshall Islands Maritime Administrator Media Statement
"The Republic of the Marshall Islands acknowledges the Commandant's conclusions. The United States Coast Guard's report, with final Commandant action, reinforces many of the findings contained in the flag State’s report released previously," said Bill Gallagher, Senior Deputy Commissioner of Maritime Affairs. "The Marshall Islands looks forward to working closely with the United States and other member States at the International Maritime Organization to implement the lessons that can be learned from this casualty and improve maritime safety going forward," he concluded.
SS United States Will Not Return to Service
A comprehensive technical feasibility study has determined the SS Unites States to be structurally sound, but a number of insurmountable obstacles will keep America’s Flagship from returning to seagoing service. In February, Crystal Cruises reached a deal with the SS United States Conservancy to restore what was once the world’s fastest, safest and largest passenger liner to a fully operational modern luxury cruise ship, pending the results of a technical feasibility study. Now…
WTO: Global Trade Growth Strong as Trade War Worries Loom
World goods trade will grow 4.4 percent this year, maintaining a rapid recovery that could nevertheless unravel if trade tensions escalate further, the World Trade Organization said in its annual forecast on Thursday. Global trade growth was in the doldrums for a decade after the financial crisis, averaging 3.0 percent a year. But last year it grew 4.7 percent - much higher than the 3.6 percent estimated in September - and a further 4.0 percent rise is expected in 2019, the WTO said.
SS UNITED STATES Project Releases RFQ
RFQ is First in Two-Step Process to Find Developers to Repurpose America’s Flagship. With all the buzz surrounding the 100th anniversary of the Titanic’s sinking, it’s full steam ahead to give the greatest American ocean liner a new lease on life as a 21st Century waterfront destination. The SS United States Redevelopment Project (SSUSRP) is proud to announce the release of a Request for Qualifications (RFQ) as part of an aggressive process to identify a developer to repurpose America’s flagship and one of the most historic vessels afloat.
This Day in Coast Guard History – March 2
1799- Congress authorized revenue cutter officers to board all ships of the United States within four leagues of the U.S., if bound for the U.S. and then search and examine them, certifying manifest, sealing hatches and remaining on board until they arrived in port. They were also authorized to search ships of other nations in United States' waters and "perform such other duties for the collection and security of the Revenue" as directed by the Secretary of the Treasury. 1799…
US Blacklists North Korean Shipping Firms
The United States on Wednesday blacklisted two North Korean shipping firms, Chongchongang Shipping and Ocean Maritime Management, following a similar move by the United Nations. The United Nations on Monday said Ocean Maritime Management operated a ship detained a year ago near the Panama Canal for smuggling Soviet-era arms, raising concerns about Cuba's military cooperation with North Korea. The new sanctions, published on the Treasury Department's website, freeze any assets the companies may hold in the United States and prohibit people and firms in the United States from dealing with them.
Coast Guard Foundation Honors Bouchard
On Thursday, October 6th, 2016, Bouchard Transportation Co., Inc. President & CEO Morton S. Bouchard III was honored at the Coast Guard Foundation 36th Annual Salute to the United States Coast Guard National Awards Dinner, in New York City. Mr. Bouchard has been a supporter of the United States Coast Guard and the Coast Guard Foundation since 1985. Through his dedication over the past 30+ years he has helped grow various programs including, education and the Fallen Heroes Scholarship program…
Stepped Up N. American ECA Enforcement: Consequences
In a new enforcement initiative, the United States Environmental Protection Agency (EPA), in cooperation with the United States Coast Guard (USCG), has boarded vessels to collect bunker samples to determine whether the vessels’ fuel sources meet the 1.0% fuel oil sulphur limit applicable within the North American Emissions Control Area (“ECA”), informs UK P&I Club as advised by Montgomery Mccracken Walker & Rhoads LLP. The EPA also disclosed that it has been “experimenting” with vessel flyovers to assess vessel smokestack plumes for the same purpose.