shipping trade

International merchandise trade continues downward path

International merchandise trade in the G20 continued its downward path during the fourth quarter of 2019. In comparison to the third quarter of 2019, exports contracted by 0.1% and imports by 1.3%, and now stand at their lowest levels in two years.

Evidence of significant disruption to Asian supply chains related to the Covid-19 outbreak suggests that this downward trend is likely to continue into the first quarter of 2020.

All North American G20 economies saw international merchandise trade...

https://safety4sea.com/international-merchandise-trade-continues-downward-path/

Coronavirus affects China’s shipping, and world’s ports as well

Global shipping has taken an important hit because of the coronavirus, as more tonnage of container ships remains idle around the world, in comparison to the global financial crisis. As a matter of fact, docks in China are clogged as shipping containers or iron ore arrive.

With China trying to maintain an economy damaged by the coronavirus epidemic, one of the biggest obstacles lies in its half-paralyzed logistics industry, the New York Times reports.

In fact, daily charter rates for tankers and...

https://safety4sea.com/coronavirus-affects-chinas-shipping-and-worlds-ports-as-well/

New data exchange platform closes to launch

CargoSmart Limited announced that nine ocean carriers and terminal operators, namely CMA CGM, COSCO SHIPPING LINES, COSCO SHIPPING Ports, Hapag-Lloyd, Hutchison Ports, OOCL, Port of Qingdao, PSA International, and Shanghai International Port Group (SIPG), have signed a shareholders’ agreement indicating their intention to become shareholders of the proposed Global Shipping Business Network (GSBN).

Once all regulatory approvals have been obtained and the GSBN is formed, it will lead the...

https://safety4sea.com/new-data-exchange-platform-closes-to-launch/

Amazon’s Bezos pledges $10 billion to fight climate change

Jeff Bezos, the Chief Executive Officer of Amazon, the largest online retailer in the US and the second largest in the world, will commit $10 billion to fund scientists, activists, nonprofits and other groups fighting to counter the effects of climate change, as announced earlier in February. The Bezos Earth Fund will begin issuing grants this summer as part of the initiative.

The news come after a great deal of criticism against the company concerning its massive transportation footprint.

Climate...

https://safety4sea.com/amazons-bezos-pledges-10-billion-to-fight-climate-change/

UK and Southern Africa to enhance ocean economy

The Foreign & Commonwealth Office (FCO) and UK Hydrographic Office (UKHO) are collaborating with the Southern Africa and Islands Hydrographic Commission, in order to give a boost to the region’s ocean economy, by establishing new regulations and legislation.

According to the Organisation for Economic Co-operation and Development, the global ocean economy, which involves activities ranging from shipping and fishing to renewables, is expected to reach $3 trillion dollars in 2030.

Through this...

https://safety4sea.com/uk-and-southern-africa-to-enhance-ocean-economy/

BIMCO: Coronavirus, trade tensions could derail global growth in 2020

Strengthening global growth could be derailed by a range of factors this year, including the coronavirus outbreak and a further escalation of trade tensions, although these tensions seem to be easing for the time being, says Peter Sand, Chief Shipping Analyst at BIMCO.

Namely, the US and China have signed “Phase One” of a trade agreement, which avoids further escalation of the almost two-year trade war; the new US– Mexico – Canada deal has passed into law in the US, with only Canada left to...

https://safety4sea.com/bimco-coronavirus-trade-tensions-could-derail-global-growth-in-2020/

Ports of LA, Long Beach team up to boost competitiveness

The neighboring US ports of Los Angeles and Long Beach revealed intentions to strengthen collaborative measures in the areas of cargo movement efficiency, connectivity, workforce development, cyber security and metrics, under a new agreement approved by their respective Harbor Commissions.

The largest seaport complex in the US will work with industry stakeholders to identify operational issues to unlock additional efficiencies and lower costs for shippers while boosting sustainability.

Our two...

https://safety4sea.com/ports-of-la-long-beach-team-up-to-boost-competitiveness/

China bans wild animals’ consumption amid coronavirus

Following the coronavirus situation, the National People’s Congress informed that prohibited the trade and consumption of wild animals, according to the Xinhua News Agency. For the records, the new measure ban has already been forced into effect, immediately after its announcement.

In fact, this fast-track decision announced by China’s top legislature, came as several scientists believe that the CONVID-19 is coming from animals and then passed to humans, but nothing is proved yet.

“There has been...

https://safety4sea.com/china-bans-wild-animals-consumption-amid-coronavirus/

Piraeus Bank to provide new ship finance offering

After Piraeus Bank’s announcement on 12 July 2019 that it was exploring a possible partnership with a major Asian Pacific financial conglomerate, it has now entered into an exclusive, strategic collaboration agreement with ORIX Corporation, a Japan and US-listed company, for the provision of financing solutions to the Greek maritime sector.

The partnership combines Piraeus Bank’s long-term relationships and knowledge of the Greek maritime sector, with ORIX’s balance sheet capacity, to provide...

https://safety4sea.com/piraeus-bank-to-provide-new-ship-finance-offering/

Coronavirus negatively impacts Indian shipping and ports

While recovery of rates in the shipping segments was indicative of improvement in global trade environment, driven by some agreement on US-China trade issues, and the impact of IMO 2020 on tanker segments, the coronavirus outbreak has negatively affected many shipping sectors.

Commenting on these impacts, K. Ravichandran, Senior VP and Group Head, ICRA Ratings, mentioned that the tanker segment had experienced moderation from the highs witnessed in Q4 2019. However, the Baltic Dry Index and...

https://safety4sea.com/coronavirus-negatively-impacts-indian-shipping-and-ports/

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