Omicron variant

UK heading for recession, renminbi strength will not last

UK heading for recession, renminbi strength will not last

Tuesday 18 January 2022 – Vol.13 Ed.3.2

Commentary: Year of Hobson’s choice: UK recession is inevitable

By Brian Reading in London

For UK economic policy-makers, 2022 will be the year of Hobson’s choice. Out of apparently multiple possibilities of actions, only one is actually available. Boris Johnson’s luckless-looking government may run into a slogan Margaret Thatcher made popular 40 years ago – Tina: ‘There is no alternative’. The truth...

https://allaboutshipping.co.uk/2022/01/18/uk-heading-for-recession-renminbi-strength-will-not-last/

FedEx air shipments delayed as omicron variant sickens pilots

FedEx aircraft on the ground waiting to be loaded on a sunny day.

The rise in COVID infections fueled by the omicron variant and bad weather that has forced passenger airlines to cancel thousands of flights is now disrupting operations at FedEx Express.

The parcel and freight carrier warned Friday that staffing problems due to rising infection rates among pilots and ground personnel in its air network, combined with severe winter weather events, are slowing deliveries.

“We are implementing contingency plans and adjusting operations to minimize delays while...

https://www.freightwaves.com/news/fedex-air-shipments-delayed-as-omicron-variant-sickens-pilots

White House prioritizing imports of COVID-19 rapid tests

Millions of at-home rapid test kits for COVID-19 are being prioritized by ocean carriers, terminal operators, trucks and trains as the surge in positive tests for the fast-moving omicron variant has boosted demand for the product.

The initiative is being coordinated by the Biden administration’s Port Disruptions and COVID-19 task forces, revealed John Porcari, the administration’s port envoy, when asked during a White House briefing on Wednesday about shortages of rapid tests throughout the...

https://www.freightwaves.com/news/white-house-prioritizing-imports-of-covid-19-rapid-tests

The relaxation of testing rules is the late-late Christmas present for the travel industry

The relaxation of testing rules is the late-late Christmas present for the travel industry

Sussanah Streeter

Susannah Streeter, senior investment and markets analyst, Hargreaves Lansdown

‘’The relaxation of testing rules is the late-late Christmas present the travel industry had been holding out for. Shares in London listed airlines lifted again today – as the rumour mills swirled that lateral flow tests would replace expensive PCRs on arrival in the UK, and pre-departure tests would be scrapped –...

https://allaboutshipping.co.uk/2022/01/05/the-relaxation-of-testing-rules-is-the-late-late-christmas-present-for-the-travel-industry/

GLOBAL & REGIONAL DAILY (Monday January 3 2022)

GLOBAL & REGIONAL DAILY (Monday January 3 2022)

GLOBAL & REGIONAL DAILY                                

HIGHLIGHTS

January 3  2022

Global Markets

The oil market kicked off 2022 on a positive tone, while sovereign bond markets remained under pressure and the DXY index moved lower amid improved risk sentiment on the back of easing Omicron fears.

Greece

The retail trade volume index grew strongly in Oct-21 (2.8% MoM and 9.2% YoY). Moreover, the stock of private sector deposits maintained its upward...

https://allaboutshipping.co.uk/2022/01/03/global-regional-daily-monday-january-3-2022/

Government borrowing higher than forecast even before the Omicron storm hits

Government borrowing higher than forecast even before the Omicron storm hits

Susannah Streeter, senior investment and markets analyst, Hargreaves Lansdown

‘’As the cries for help from hospitality continue, the latest snapshot of the government’s finances show why the chancellor is hesitant in funding fresh life support for struggling firms.   

Even before the Omicron wave hit, public sector net borrowing was higher than forecast, coming in at £17.4 billion for November and it’s still the second...

https://allaboutshipping.co.uk/2021/12/21/government-borrowing-higher-than-forecast-even-before-the-omicron-storm-hits/

Nor-Shipping postpones January presentation

Plans for another major international maritime event have been disrupted by the coronavirus. In the face of increasing infection rates, driven by the Omicron variant, Nor-Shipping has taken the decision to postpone its upcoming exhibition and event program. It had been sent to take place January 10-13 in Oslo and Lillestrøm, Norway.

The management team is currently working with stakeholders to decide on the optimal way forward, with an announcement on the timing of the next Nor-Shipping expected...

https://www.marinelog.com/news/nor-shipping-postpones-january-presentation/

IACS Council makes supporting safe maritime decarbonisation a main objective

IACS Council makes supporting safe maritime decarbonisation a main objective

Nick Brown

Human element and maintenance of IACS Quality Scheme other key focus areas.

The 84th session of the IACS Council has highlighted the significant safety challenges around decarbonisation. The centrality of the human element in increasingly technically sophisticated vessels and the importance of maintaining IACS’ Quality Scheme as a guarantor of its members’ demonstrable, high-quality performance were other focus...

https://allaboutshipping.co.uk/2021/12/13/iacs-council-makes-supporting-safe-maritime-decarbonisation-a-main-objective/

Theodore Kontes on the Cruise Industry

Theodore Kontes on the Cruise Industry 

Theodore Kontes

We asked Theodore Kontes – – one of the leading experts in the field of Maritime Tourism — for his views on the state of the Cruise Industry under the Covid pandemic and specifically on Planning, and Cruise Management. He said: 

“Once the tourist season in Greece is over, and  by the end of this year, we will have the final results for 2021 on ship calls and on the number of visitors and  passengers.

The results we expect will be encouraging...

https://allaboutshipping.co.uk/2021/12/10/theodore-kontes-on-the-cruise-industry/

Weak GDP for October shows how vulnerable economy is to fresh covid shock

Weak GDP for October shows how vulnerable economy is to fresh covid shock

Sussanah Streeter

Susannah Streeter, senior investment and markets analyst, Hargreaves Lansdown

‘’The interest rate dilemma has intensified for the Bank of England. The latest reading for the economy shows just how vulnerable the economy was to a fresh shock, with output in October growing by just 0.1%: weaker than expected. The spread of the Omicron variant is now set to be the body blow, sending the recovery reeling, while...

https://allaboutshipping.co.uk/2021/12/10/weak-gdp-for-october-shows-how-vulnerable-economy-is-to-fresh-covid-shock/

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