According to an IMO FAL Convention report, digitalization could facilitate quicker, better and more efficient cross border trade.
What is it?
when ships enter and leave port,
detailed and specific administrative information needs to be exchanged
with the authorities ashore. This used to...
The Baltic Briefing has issued the tanker report for the 17th week of this year. The report dated 24th April 2020 provides a valuable insight into this week's tanker market dealings, freight rates, and charter activities.
VLCC
The week started off...
ClassNK grants world-first AiP to Imabari Shipbuilding for their concept design of a 180,000 DWT LPG dual fuelled bulk carrier, says a press release published on their website.
AiP for LPG dual fuelled bulk carrier
Classification Society ClassNK granted an Approval...
Governments have been stranded because of wars, internal conflicts, uprisings, economic crises, natural disasters, and plagues.
World Wars, climate change, environmental disasters, natural disasters, economic crises, and plagues also drag anchor.
Earth experienced the sixth period of self-destruction...
Cosco Shipping Lines is launching a new dedicated East Mediterranean - US East Coast (EMA) service in April.
EMA will offer dedicated service to/from the key US East Coast ports.
EMA service can offer fast connection to US...
The global economy could shrink by up to 1 percent in 2020 due to COVID-19.
UN-DESA said the pandemic is disrupting global supply chains and international trade.
Governments are rolling out large stimulus packages to avert a sharp...
Despite its strength and significant role in world trade, the shipping industry is potentially vulnerable to an “Achilles heel” where financing its bunker fuel procurement is concerned, writes Irene Notias in an article published in the Maritime Executive.
Without fuel...
How do you co-ordinate economic policy across the globe, when an invisible enemy that behaves in unknown ways systematically erodes the very way economies function? asks the BBC Economics Editor Faisal Islam while reporting on the IMF's economic forecast.
That...
The world witnesses historic OPEC+ production cut deal.
No oil demand across the world amid lockdowns and travel restrictions.
Oil storage capacity around the world has become thin.
At present, there is an unprecedented global oil glut.
Despite,...
Euronav owns both the Europe and Oceania Ultra Large Crude Carriers, which it operates as floating storage.
The company also owns 39 VLCCs and 25 Suezmax tankers.
Most of the fleet is operated in the spot market and...
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