Shipping Confidence at 18-month High
Confidence in the shipping industry rose in the last quarter to its highest level for 18 months, according to the latest Shipping Confidence Survey from leading shipping adviser and accountant BDO.The average confidence level expressed by respondents to the survey was 6.4 out of 10.0, compared to 5.8 Q3 2019. This is the highest rating since the same level of confidence was recorded in May 2018, and…
Baltic Index Continues to Sink
The Baltic Exchange's main sea freight index slid for a 12th straight session on Thursday, hitting a six-month low, as reduced seasonal demand dragged down vessel rates across segments.* The Baltic index, which tracks rates for capesize, panamax and supramax vessels that ferry dry bulk commodities, dropped 70 points, or 5.7%, to 1,151 — its lowest level since June 19.* The capesize index declined 127 points…
The Future of Maritime Navigation
It is 70 years since the launch of the first radar under the Decca brand and today’s Sperry Marine is marking the anniversary by looking to a future that would have been hard to imagine in 1949 – or even as little as 10 years ago.Yet the changes of the last decade will be eclipsed by the transformation in the decades to come, which will accelerate as the shipping industry embraces greater digitalization and moves towards an era of smart and connected operations.In the course of 70 years…
Navigating the Rough Waters of Marine Certification
The marine industry brings its own unique set of challenges.With the ‘All Subsea Factory’ market trend moving offshore exploration and production equipment for oil and gas to the seabed…
China 'in touch' with U.S. on Phase 1 Trade Deal
China and the United States are in touch over the signing of their Phase 1 trade deal, China's commerce ministry said, which will see lower U.S. tariffs on Chinese goods and higher Chinese purchases of U.S. farm, energy and manufactured goods.The Phase 1 deal was announced last week after more than two years of on-and-off trade talks, although neither side has released many specific details of the agreement.Both the Chinese and U.S.
$5B Fund Proposed for Emissions R&D
Shipping associations have proposed creating a research fund with $5 billion raised by the industry to develop technology to help the sector meet U.N. targets on cutting emissions.The global shipping fleet, which accounts for 2.2% of the world's CO2 emissions, is under pressure to reduce those emissions and other pollution. About 90% of world trade is transported by sea.International shipping associations…
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