Ghost Ship Washes Ashore in Ireland
A vessel without a single soul on board ran aground near Ballycotton, Cork in Ireland, the Irish Coast Guard informed on Sunday, February 16. The ship has been identified as…
U.S.-China Trade War Reshaped Global Commerce
The two-year trade war between the and China upended commerce world-wide, slamming the brakes on global trade growth — but also delivering modest benefits to a handful of industries and…
China offers force majeure shield for businesses affected by coronavirus outbreak …As sailing cancellations hurt Royal Caribbean’s earnings
China is offering force majeure certificates to local companies, if they are unable to fulfill their international contractual obligations due to the coronavirus outbreak, the China Council for the Promotion…
China virus outbreak pressures already weakened economy
coronavirus A coronavirus outbreak in China which has killed 81 people and spread to many countries is expected to hurt its economy, an engine of global growth, though analysts say…
OPEC output falls as Gulf Nations step up delivery of oil cuts
The Organisation of Petroleum Exporting Countries’ OPEC output declined last month as several Persian Gulf producers stepped up their implementation of cutbacks aimed at balancing global oil markets. Saudi Arabia,…
IMO 2020 sulphur rules threaten GCC oil exports …As ship owners switch over to low sulphur fuels
Oil markets will go through a major transformation as new regulations covering the sulphur content of marine fuels take effect from January 1, 2020 and may have an impact on…
2020: Expert predicts worse global decline in trade-to-GDP ratio
Peter Sand 2020: Expert predicts worse global decline in trade-to-GDP ratio One of the most worrying trends that has developed recently – which will affect shipping demand in the years…
US-China trade deal to keep oil prices at $60 range
Oil prices closed on a third straight weekly high on Friday, with prices set to remain close to the $60-$65 () range thanks to market optimism around the US-China phase…
Extreme weather may impact global oil prices in 2020 -Report
Extreme weather events may have as much impact on world oil supply, demand and prices as geopolitical risks in 2020, according to S&P Global Platts annual outlook. Already in 2019…
Global maritime industry confronts boatload of environmental challenges
Keeping up in a world hurtling toward the dawn of the International Maritime Organisation IMO 2020 mandate is the biggest challenge facing the maritime industry, according to Kathy Metcalf, president…
