China's fast-spreading coronavirus is throwing the global container shipping trade out of sync, with lines re-routing cargoes and reducing calls to Chinese ports, setting the scene for months of delivery delays ahead, industry sources said.The spread of the deadly virus has shut down cities and factories in China and disrupted global air travel.
New marine fuel rules to boost diesel prices for at least a year -analystsGlobal prices for diesel and marine fuels should rise by October ahead of a January switchover to new, very low-sulfur marine fuels, and remain higher for at least a year as refiners shift production to make more of the new fuels, analysts said.Marine fuels containing no more than 0.5% sulfur by weight, down from the 3.
The Federal Bureau of Investigation is not taking appropriate steps to review and assess potential maritime terrorism risks facing U.S. sea ports, the Justice Department's internal watchdog has found.The audit, released on Thursday by Inspector General Michael Horowitz, found that while top FBI officials believe the country faces a low maritime terrorism threat
Philippine citizens infected with coronavirus on cruise ship rises to 80, others fly homeThe Philippines said on Tuesday that the number of its citizens who had tested positive for the coronavirus on a cruise ship docked in a Japanese port had risen to 80, as 400 others arrived back home.
Credit Suisse, BNP Paribas and French public investment bank Bpifrance are the latest lenders to join an initiative to link provision of shipping finance to cuts in carbon dioxide emissions.Global shipping accounts for 2.2% of the world's CO2 emissions and the industry is under pressure to reduce those emissions and other pollution. About 90% of world trade is transported by sea.
With the January 1 implementation of IMO 2020, which requires dramatic reductions in the sulfur content of emissions from ocean-going vessels, the United States government issued a new rule that it asserts actually facilitates the distribution of compliant fuel.The US Environmental Protection Agency asserts that it is taking steps to allow for the distribution of distillate fuel with sulfur
Russian Prime Minister Dmitry Medvedev said on Monday that the Nord Stream 2 gas pipeline would be completed in a matter of months and U.S. sanctions imposed on the project last week would not be "catastrophic".Russia's new gas transit deal with Ukraine would also mollify the impact on Russian gas supplies of U.S. sanctions introduced on the pipeline project, he said.
US authorities announced that South Korea's top shipbuilding conglomerate Hyundai Heavy Industries (HHI) will pay a US$47 million fine for illegally importing and selling dirty diesel engines in violation of American environmental rules.US Justice Department and and the U.S. Environmental Protection Agency (EPA) said that between 2012 and 2015, the company imported nearly 2
McQuilling Services Announces the Release of the 2019 Mid-Year Tanker Market Outlook Update.The Mid-Year Tanker Market Outlook Update provides an outlook on the global tanker market in the context of global economic growth and oil fundamentals influencing tanker demand and vessel supply.
A.P. Moller-Maersk, the world's largest container shipping company, warned on Friday that trade tensions and an economic slowdown are slowing growth in global freight.Maersk, which is seen as an indicator of global trade patterns, cut its forecast for global growth in container traffic this year due to the trade dispute between the United States and China.
About 150 people are missing after a boat sunk on a lake in eastern Democratic Republic of Congo, President Felix Tshisekedi said on Tuesday."I am very saddened by the shipwreck of a pirogue on (Monday) April 15 on Lake Kivu. The provisional toll is 150 people missing," Tshisekedi said on his office's Twitter account.
U.S. President Donald Trump said on Thursday he would impose an additional 10% tariff on $300 billion worth of Chinese imports starting Sept. 1, as talks aimed to ease tensions between the world's two largest economies continue."Trade talks are continuing, and during the talks the U.S.