Sea shipping rates to US soar as China’s foreign trade revives
Container rates from China to the US have soared in recent weeks, driven by the US’ high demand to restock amid the COVID-19 pandemic, the upcoming holiday season and China’s…
Stranded seafarers rescued by South African research vessel
Some of the rescued seafarers aboard the South African research ship - courtesy of SAMSA South African authorities are reporting the successful rescue of 62 seafarers that had been…
Euro zone economy risks double-dip recession- PMIs
Euro zone economic activity slipped back into decline this month as a second wave of the coronavirus sweeps across the continent, heightening expectations for a double-dip recession, surveys showed on…
Japan seems world’s first to attain zero emission
The World Maritime Organisation IMO has adopted a two-tier strategy aimed for a drastic reduction of greenhouse gas (GHG) emissions from international shipping. The initial target obliges ships to cut…
World Bank says global economy to plunge into deepest recession post-COVID since Great Depression
The world is experiencing one of the deepest recessions since the Great Depression in the 1930s owing to the novel coronavirus, World Bank President David Malpass has said, terming the…
Shipping demand recovering but COVID to have long-term effect -Hapag-Lloyd
Shipping demand recovering but COVID to have long-term effect -Hapag-Lloyd German container shipping firm Hapag-Lloyd is benefitting from a rebound in transport demand but its chief executive warned about the…
Global cooperation necessary to digitalise shipping industry, enhance global trade
Digitalising the shipping industry can enhance global trade, but it will require stakeholders around the world to cooperate, said Senior Minister of State for Transport and Foreign Affairs Chee Hong…
Why Africa’s Okonjo-Iweala should head WTO
Francis Ezem The recent emergence of Nigeria’s candidate for the position of the Director-General of the World Trade Organisation WTO, Dr. Ngozi Okonjo-Iweala, as one of the two female candidates…
Global economy will shrink by over 4% in 2020- Ifo
Economic experts predict that the coronavirus pandemic will result in a cent contraction in the global economy in 2020. Germany’s Ifo Institute and the EconPol Europe research network polled 950…
OPEC projects global oil demand to peak around 2040, as pandemic lowers growth
OPEC has for the first time forecast the peak in global demand, estimating that the world’s thirst for oil will stop growing in about 20 years. With the coronavirus pandemic…
