(ifo) The mood among German managers became slightly gloomier this month. The ifo Business Climate Index fell from 99.7 points (seasonally adjusted) in March to 99.2 points in April. Companies are less satisfied with their current business situation. March’s gentle optimism regarding the coming months has evaporated. The German economy continues to lose steam.
(seaeurope) SEA Europe welcomes the partial agreement reached between the European Parliament and the Council of the EU on Horizon Europe on 18 April. Horizon Europe is the next 7-years European Research and Innovation Funding Programme and is part of the EU's proposal for a new EU budget for the period 2021 till 2027 (known as the Multi-Annual Financial Framework).
(porttechnology) The US and EU could sign a new trade deal after the European Council, the body comprising of European member states, voted to resume talks over the Trans-Atlantic Investment Partnership (TTIP).
(hellenicshippingnews) While a US-China trade deal might lead to a prompt response in met coal exports from the US to China, the larger outcome would be an improved global economy and boost to the steel market, a Seaport Global report said.
(hellenicshippingnews) With the first quarter of 2019 already past us, it’s now becoming increasingly obvious that the dry bulk market will find it hard to experience a third consecutive year of recovery, not to mention new peaks.
(hellenicshippingnews) A total of 304.7 million tons of seaborne goods was handled in German sea ports in 2018, marking an increase of 1.7 percent compared to the previous year, the German Federal Statistical Office (Destatis) announced.
(maritime-executive) ReCAAP ISC has released it's quarterly piracy report for Asia showing that there were 10 incidents of armed robbery against ships (including one attempted incident), a 52 percent decrease from the same period last year.
(gcaptain) Anglo-Australian miner Rio Tinto Ltd on Tuesday reported a 14 percent drop in quarterly iron ore shipments and cut its 2019 shipments estimate on disruption caused by a tropical cyclone that hit its export terminal in Western Australia last month.
(destatis) In 2018, the volume of seaborne goods loaded and unloaded increased by 1.7% compared with a year earlier. The Federal Statistical Office reports that a total of 304.7 million tonnes of goods were handled in German sea ports that year. In 2017, the relevant volume of freight was 299.5 million tonnes.
(hellenicshippingnews) Last year, it was mostly tankers and containers which were the main candidates for ship recycling. As of late though and amid a growing unease regarding the dry bulk market’s immediate prospects, more and more dry bulkers are being considered for scrapping.
(hellenicshippingnews) Singapore maintained its top position at the head of the 15 leading maritime capitals. Despite a somewhat weak trade cycle in traditional shipping and offshore oil and gas markets yet to recover, Singapore was able to retain its lead in three of the five pillars of the ranking: Shipping, Ports and Logistics as well as Attractiveness and Competitiveness.
(hellenicshippingnews) While the world has been enthralled by the US-China trade war, another extremely pressing situation is happening in the logistics industry — the International Maritime Organization is preparing to roll out a landmark set of regulations that will cost carriers at least $15B per year.
(hellenicshippingnews) VesselsValue data suggests the value of a generic fixed age 15 year old Capesize Bulker has fallen 20% from 1st November 2018 to USD 12.2 million today. By contrast, other valuers are quoting figures or estimated ranges 15-30% higher.
(maritime-executive) Having just completed another record year, optimism remains high in the cruise industry as the business leaders, port and government officials, suppliers and other vendors all gather for one of the industry’s largest business conferences – Seatrade Cruise Global 2019 in Miami, Florida.
(maritime-executive) The U.S. Energy Information Administration (EIA) predicts that the share of high sulfur residual fuel oil consumed as bunker in the U.S. will drop from 58 percent in 2019 to three percent in 2020, and then rebounds to 24 percent in 2022.
(gcaptain) The Baltic Exchange has opted to keep its benchmark shipping indices unchanged, despite calls from some market players for the data provider to include fuel cleaning systems that vessels can fit due to a major regulatory change next year.
(rwi) The Container Throughput Index of the RWI – Leibniz Institute for Economic Research and the Institute of Shipping Economics and Logistics (ISL) fell to 133.9 according to the flash-estimate for February. Compared with (revised) January value of 138.2, this reflects the fourth-largest decline observed so far. Especially the Chinese ports experienced a decrease in container handling which corresponds to the festivities of Chinese New Year. In general, the computation accounts for this seasonal effect, however, its estimation still involves a higher degree of uncertainty.
(maritime-executive) Satellite communications company Inmarsat has recommended shareholders accept a $3.4 billion takeover offer from the newly formed Triton Bidco consortium. Triton Bidco includes Apax, Warburg Pincus, Canada Pension Plan Investment and Ontario Teachers’ Pension Plan Board.
(Destatis)In 2018, the volume of goods transported on inland waterways decreased by 11.1% compared with the previous year. The Federal Statistical Office reports that a total of 198.0 million tonnes of goods were transported on German inland waterways. In 2017, the relevant volume of freight was 222.7 million tonnes.
(hellenicshippingnews) Predicting the future course of the dry bulk market has proven to be more than difficult these days, with most estimates falling way off the mark given the unpredictability of freight rates and the effect of one-off events, like the recent Vale accident, which took out of the market a major part of dry bulk cargoes.
(maritime-executive) Italy's government is headed squarely for a deal with China on direct investment in as many as four major seaports, explicitly endorsing Beijing's "belt and road" economic development program.
(logisticsmgmt) February shipments, at 909,947, fell 4.5% annually, with containerized freight handled shipments down 4%. What’s more, this decline follows an aggregate increase of 5.5% over the previous three months.
(hellenicshippingnews) More ports around the world are banning ships from using a fuel cleaning system that pumps waste water into the sea, one of the cheapest options for meeting new environmental shipping rules.
The South Carolina Ports Authority (SCPA) has announced that it will receive US$138 million in funding from President Trump’s Fiscal Year 2020 Budget for its 52-foot Charleston Harbour Deepening Project.
(Destatis) In Germany, labour costs per hour worked rose a calendar adjusted 2.3% in 2018 compared with a year earlier. The Federal Statistical Office (Destatis) also reports that the costs of gross earnings increased by 2.4%, while non-wage costs were up 2.0%.
(maritime-executive) Australia's coal exports to China could face a continued slowdown as Chinese authorities step up their campaign to reduce air pollution, but the Australian government remains confident of the nation's mining future.
(worldmaritimenews) Philippines-based port management company International Container Terminal Services (ICTSI) has increased its 2018 profit on the back of a six percent increase in TEU volume and inclusion of new terminals.
(hellenicshippingnews) Beijing’s movers and shakers are meeting for the so-called “two sessions” this week, where they will discuss things like trade wars and economic development. The first order of business for the market: a new GDP target range that puts guidance as low as 6% to as high as 6.5%.
The Jacksonville Port Authority (Jaxport) Board of Directors has unanimously approved a long-term agreement with terminal operator SSA Marine for the development and operation of a new $238.7 million international container terminal at the port's Blount Island Marine Terminal.
The Transportation Institute, a maritime association that promotes the Jones Act in the U.S., has published details of a PwC report that demonstrates a 30 percent increase in domestic maritime job creation enabled by the Jones Act. The industry now employs nearly 650,0000 Americans across 50 states and contributes $154 billion to the nation’s economic growth annually.
For more than 100 years, the Panama Canal has improved global commerce, transportation and connectivity, enabling growing opportunities for countries around the world. The waterway currently serves 140 routes, connecting 1,700 ports and 160 countries.
China’s liquefied natural gas imports in January rose to a record as an increase in residential heating demand during the winter after the country’s shift to gas heating spurred higher shipments, customs data showed on Saturday.
U.S. President Donald Trump said on Sunday that he would delay his planned increase in tariffs on Chinese goods after “productive” talks in China. Trump had planned to raise tariffs on $200 billion of Chinese goods from 10 to 25 percent on March 1 but now hopes to meet with Chinese President Xi Jinping to finalize a deal.
The Clean Shipping Alliance 2020 (CSA 2020) has presented results of a three-year study of the composition and quality of exhaust gas cleaning system (EGCS) washwater based on samples taken from cruise ships.
Kuwait and China have signed a memorandum-of-understanding (MoU) to begin Phase 1 construction of the Silk City megaproject, an industrial and logistics initiative designed to boost free trade between the two countries, which will include the development of the Mubarak Al-Kabeer Port.
The impact of a no-deal Brexit would show up almost immediately in financial markets, more slowly in the wider economy. There would be three big things to watch with regard to markets: government-bond yields, share prices and the value of the currency.
Container throughput at the port of Hamburg declined for the second consecutive year in 2018. The port’s throughput was down to 8.73m teu, adding urgency to the completion of the long-awaited deepening and widening programme in the river Elbe.
The World Trade Organization (WTO) expects slower trade growth this year. The weakness is likely to extend into the first quarter of 2019, according to the WTO’s latest World Trade Outlook Indicator released on February 19.
The Suez Canal Authority (SCA) has extended discounts concerning dry bulk vessels operating between American and Asian ports after considering “new changes in the global shipping market and the world economy”.
According to provisional results, goods worth 199.3 billion euros were traded between Germany and the People's Republic of China in 2018 (exports and imports). The Federal Statistical Office reports that the People's Republic of China was Germany’s most important trading partner in 2018 for the third consecutive year.
A global shipowning body has called for regulator International Maritime Organization (IMO) to dismiss high global gross domestic product (GDP) growth projections when addressing its next greenhouse gas (GHG) study, due to get underway next month.
APM Terminals has announced it will jointly develop a new 345,000 TEU capacity Greenfield container terminal in Bangkok, Thailand, to accommodate the country’s rapidly growing containerized import and export trade.
(business-standard) Factory activity shrank across much of Asia in January, falling to the weakest in years in several countries and adding to worries that trade tariffs and cooling demand in China pose an increasing threat to global growth.
(maritime-executive) South Korea's "Big Three" shipbuilders may soon become the "Big Two," as Hyundai Heavy Industries (HHI) has reportedly expressed interest in taking over state-owned Daewoo Shipbuilding and Marine Engineering (DSME).
(maritimepropulsion) Global oil refining capacity is set to increase at its fastest pace on record this year, possibly boosting stocks of products such as diesel, gasoline and marine fuel, the International Energy Agency said.
(gcaptain) The first of three lock gates for the new, larger lock being constructed at the entrance of the North Sea Canal at IJmuiden, Netherlands arrived at its final destination this week after being transported from South Korea.
(destatis) According to first calculations of the Federal Statistical Office (Destatis), the price adjusted gross domestic product (GDP) was 1.5% higher in 2018 than in the previous year. The German economy thus grew the ninth year in a row, although growth has lost momentum. In the previous two years, the price adjusted GDP had increased by 2.2% each.
Hedge fund managers show signs of having completed their recent sale of crude and refined fuels, with positions edging up slightly in the first week of the new year, amid hopes a recession can be averted.
(maritime-executive) Imports at major retail container ports in the U.S. have slowed down after a months-long rush to beat increased tariffs on goods from China, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates.
(hellenicshippingnews) In fewer than 12 months’ time, thousands of merchant ships are going to start burning fuel containing higher concentrations of sulfur. That’s a quirky outcome of rules that are supposed to cut emissions of the pollutant.
(hellenicshippingnews) In spite of a depressed fourth quarter in 2018, all segments of the dry bulk freight market saw earnings increase year on year. Volatility was the dominant theme for 2018, and the second, third, and fourth quarters saw mercurial freight movements led by a myriad of fundamental and sentimental shifts amid an uncertain second-half of the year.
(worldmaritimenews) COSCO-HIT Terminals (Hong Kong) Limited (CHT), Asia Container Terminals (ACT), Hongkong International Terminals (HIT) and Modern Terminals Limited (MTL) have decided to collaborate together in order to better use terminals and enhance their competitiveness.
(porttechnology) Eight provinces and regions, in the west of China, have signed a framework agreement to collaborate on the building of a new international land-sea trade corridor, according to Xinhua.
(hellenicshippingnews) The ClarkSea Index made steady progress in 2018 (+13% to $12,144/day) taking it above the average since the financial crisis. Tankers had a miserable year before being “saved” by a strong Q4, bulkers consolidated their 2017 gains and LNG finished the year on a high. Fleet growth continues to trend below 3%, with just 11% of the fleet on order, while trade growth eased and needs to be watched closely.
(gcaptain) Work began on Thursday to extend a small British port that could serve as a back-up if the UK leaves the European Union with no trade deal, providing the government some respite after days of criticism.
(hellenicshippingnews) The dry bulk market for large ships, i.e. Capesizes, is gearing up for further recovery in 2019, as demand is at healthy levels and net fleet growth remains subdued, despite a slower demolition rate in 2018.
(hellenicshippingnews) Economic activity is the main driver of maritime transport. DNV GL has developed a model to forecast future volumes of goods to be transported by sea, with a focus on crude oil, oil products, gas, bulk and containerized cargo.