As the trade war between the U.S. and China deepens, political spats between the world’s two largest economies are surfacing or intensifying. And the rhetoric is getting chillier. Issues range from the plight of China’s Uighurs and sanctions against the Chinese military to President Donald Trump’s...
https://www.hellenicshippingnews.com/china-u-s-tensions-are-over-far-more-than-trade/
New rules forcing ships to use cleaner marine fuels may deal yet another blow to cash-strapped Petroleos de Venezuela SA, an exporter of high-sulfur fuel oil. From Jan. 1, 2020, vessels will have to switch to less-polluting bunker fuel or be fitted with equipment to curb emissions, under new...
Scorpio Bulkers Inc. announced that the Company has entered into a financing transaction in respect of one of the Company’s Ultramax vessels with an unaffiliated third party. As part of the transaction, the Company will sell a 2016 Japanese built Ultramax dry bulk vessel, SBI Hermes, for a...
New “Know Your Customer, Due Diligence and Maritime Supply Chain Integrity” Best Practices Paper launched at Global Intellectual Property Crime Conference in Dubai. Representatives from major global brands and maritime companies have developed a set of best practices for the maritime industry to...
German inflation picked up more than expected in September to overshoot the European Central Bank’s price stability target, data showed on Thursday, supporting ECB President Mario Draghi’s plan to gradually wind down monetary stimulus. Record-high employment and falling joblessness have led to a...
https://www.hellenicshippingnews.com/strong-german-inflation-backs-draghis-plan-to-end-stimulus/
One in five British companies would move at least some of their operations to the European Union in the event of a “no-deal” Brexit, according to a survey on Friday. A similar proportion said they would cut investment and jobs, the British Chambers of Commerce (BCC) said. With six months to go...
https://www.hellenicshippingnews.com/no-deal-brexit-would-force-many-uk-firms-into-eu-shift-bcc/
Japan’s steel exports edged down 0.9% year on year to 3.15 million mt in August, but were up 3.9% from July, Japan Iron & Steel Federation data released Friday showed. A JISF official said exports were largely stable on a year-on-year basis as steel producers have been kept busy meeting domestic...
https://www.hellenicshippingnews.com/japans-august-steel-exports-dip-1-on-year-to-3-15-mil-mt/
German public-sector bank NordLB, which aims to boost its capital by about 3 billion euros ($3.5 billion) to cope with bad ship loans, is considering a stake sale to a mix of private equity investors and savings banks, sources close to the matter said. NordLB said in a statement on Wednesday that...
The Loss Prevention department would like to remind members about the ongoing problems relating to false ecological inspections in Ukrainian Ports. One of the club’s correspondents has reported that they have seen an increase in the quantity of such incidents affecting foreign vessels. They also...
https://www.hellenicshippingnews.com/ongoing-problems-with-ukrainian-ecological-inspectors/
China hit out against the U.S. in a 71-page paper, accusing President Donald Trump’s administration of “trade bullyism practices” that have become “the greatest source of uncertainty and risk for the recovery of the global economy.” The document, published on Monday, outlined the Chinese...