South Korean ocean carrier to expand fleet with 20 new vessels
https://www.porttechnology.org/news/hmm_confirms_megaship_order
Finance
China Merchants looks to take Sinotrans Shipping private
Bulker owner has been “unable to fulfil objectives of its public listing” says majority shareholder.
Saeviks pump $6.25m into Havyard
Owning family buys shares to meet “dynamic financing need.”
http://www.tradewindsnews.com/finance/1593895/saeviks-pump-usd-625m-into-havyard
Diana Shipping Closes USD 100 Mn Bond Offering
Diana Shipping closed its USD 100 million bonds placement maturing in September 2023.
https://worldmaritimenews.com/archives/261491/diana-shipping-closes-usd-100-mn-bond-offering/
EU Commission seeks views on future regime for shipping consortia
The European Commission has invited comments on the legal framework exempting liner shipping consortia from EU antitrust rules that prohibit anticompetitive agreements between companies, known as the “Consortia Block Exemption Regulation”.
Container shipping organised on the basis of liner consortia accounts for the majority of non-bulk freight carried by sea to and from Europe. Competitive shipping services are therefore essential for the EU’s economy as a whole. EU law generally bans...
https://safety4sea.com/eu-commission-seeks-views-on-future-regime-for-shipping-consortia/
Increased risks and tensions to slow trade growth, warns WTO
Escalating trade tensions and tighter credit market conditions in important markets will slow trade growth for the rest of 2018 and in 2019, according to World Trade Organization economists. Trade will continue to expand, but at a more moderate pace than previous forecasts.
Namely, WTO anticipates growth in merchandise trade volume of 3.9% in 2018, with trade expansion slowing further to 3.7% in 2019. The new forecast for 2018 is below the WTO’s 12 April estimate of 4.4%, but falls within the...
https://safety4sea.com/increased-risks-and-tensions-to-slow-trade-growth-warns-wto/
Escalating tariffs are weighing down world economy
UNCTAD released its Trade and Development Report 2018 noting that the pressures are building around escalating tariffs. This affects financial flows, but behind these threats to global stability is a wider failure to address the inequities and imbalances.
According to the report, the increasing mountain of debt, more than three times the size of global output, is indicative of that failure. While the public sector in advanced economies has been obliged to borrow more since the crisis, the rapid...
https://safety4sea.com/escalating-tariffs-are-weighing-down-world-economy/
Daily Overview of Global Markets & the SEE Region (Friday, September 28, 2018)
HIGHLIGHTS
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: The Italian government issued a statement yesterday to announce that the new budget deficit target for 2019 has been set at the upper range of market expectations at 2.4%-of-GDP. Tensions with the European Commission are likely to escalate and major rating agencies may downgrade Italy’s sovereign credit. Not surprisingly, market reaction was negative. The EUR/USD dropped to a two week low of 1.1614 earlier today and Italy’s 10-yr...
Daily Overview of Global Markets & the SEE Region (Thursday, September 27, 2018)
HIGHLIGHTS
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: In line with market expectations, the Fed raised interest rates by 25bps at this week’s two-day monetary policy meeting which concluded late on Wednesday, taking the target range for the federal funds rate to 2.00%-2.25%. Changes to the post-meeting statement were minimal with one exception: the Committee removed the reference to the policy stance as “accommodative”. However, this has no implications for the Fed’s future rate...