BusinessNews

Norwegian Spill Response Firms Take Aim at Ocean Plastic

By The Maritime Executive 2019-11-08 22:34:07

A consortium of Norwegian researchers and environmental response companies plans to use oil spill response technology to clean up ocean plastic and other marine waste. The group, which calls itself "Clean Oceans," has been designated an "Arena cluster project" by the Norwegian government's R&D agency, Innovation Norway. The consortium will apply Norwegian oil spill prevention and response technology to help solve the challenges of plastic and other marine waste in oceans and waterways. It has its roots in the Norwegian...

Xi Calls for Open World Economy

By The Maritime Executive 2019-11-05 19:28:34

China's President Xi Jinping gave an address during the opening ceremony of the second China International Import Expo (CIIE) in Shanghai on Tuesday, calling for an open world economy. “Distances between countries are getting shorter, and interactions among countries are growing, hence the probability of differences and frictions,” he said. “We need to stand firm against protectionism and unilateralism. We need to continually bring down trade barriers, optimize global value and supply chains, and jointly foster market demand.” This is...

UNCTAD Names Winners and Losers in Trade War

By The Maritime Executive 2019-11-05 18:55:05

Tariffs imposed by the United States on China are economically hurting both countries, UNCTAD has warned in a new report. The study, Trade and trade diversion effects of United States tariffs on China, shows that the ongoing U.S.-China trade war has resulted in a sharp decline in bilateral trade, higher prices for consumers and trade diversion effects (increased imports from countries not directly involved in the trade war). The study finds that consumers in the U.S. are bearing the heaviest...

UNCTAD: Trade War and Brexit Uncertainty Take Their Toll

By The Maritime Executive 2019-10-30 20:04:52

World maritime trade lost momentum in 2018 as a result of heightened uncertainty, escalating tariff tensions between the U.S. and China and mounting concerns over a no-deal Brexit, according to UNCTAD's Review of Maritime Transport 2019. Volumes in the sector grew by 2.7 percent last year, below the historical average of three percent and the 4.1 percent recorded in 2017. UNCTAD Secretary-General Mukhisa Kituyi said: “It is a warning that national policies can have a negative impact on the maritime...

Non-Tariff Trade Regulations on the Rise in Asia-Pacific

By The Maritime Executive 2019-10-16 20:32:35

While applied tariffs in the Asia-Pacific region have halved over the past two decades, the number of non-tariff measures (NTMs) - policy regulations other than tariffs affecting international trade - has risen significantly, according to a report launched on October 14 UNCTAD. The Asia-Pacific Trade and Investment Report 2019 finds that NTMs are now affecting around 58 percent of trade in Asia and the Pacific. One reason for the rise of NTMs is their growing popularity as weapons of trade...

South Korea and Indonesia Agree Trade Deal

By The Maritime Executive 2019-10-16 20:11:10

South Korea and Indonesia have reached a preliminary trade deal equivalent to a free trade agreement but also including broader economic cooperation. The agreement is expected to help boost trade between the two nations by nearly 50 percent by 2022. The move is part of South Korea's on-going efforts to expand exports in the region and comes after a five-year break from negotiations between the two nations. Under the deal, South Korea and Indonesia will eliminate tariffs on 95.5 percent...

Historic Cutter Faces Auctioneer's Hammer

By The Maritime Executive 2019-10-16 19:10:38

The vintage U.S. Coast Guard Cutter Bramble has been arrested in Mobile, Alabama, for unpaid bills and will be auctioned on the steps of Mobile courthouse on November 6 . The vessel was sold to USCGC Bramble, LLC in 2013. This entity ran the vessel as a museum ship. Financial backer Tom Clark bought the Bramble in 2018 and has refurbished it, with plans to recreate the northwest passage undertaken by Bramble in 1957. However, despite court action, debts remain...

MARIN Tests Underwater Hyperloop Tunnel

By The Maritime Executive 2019-10-15 20:37:36

Maritime Research Institute Netherlands (Marin) is testing a model for a trans-Atlantic underwater tunnel capable of supporting a hyperloop system. The 140 meter (460 foot) model tunnel is being tested in one of the research organization's basins to see how it responds to wave action. This will determine if the hyperloop pods can travel safely inside the tunnel under real oceanic conditions. The actual tunnel would be around 5,500 kilometers (3,400 miles) long at a depth of over 100 meters...

Technical Sales Support

By The Maritime Executive 2019-10-14 16:24:11

Are you passionate about protecting the world’s oceans through green technology for ballast water? Then we have just the position for you! On behalf of BAWAT, MARPRO is looking for a technical sales support profile: Bawat A/S is a Danish-owned company that offers a unique green solution for treating ballast water. Ballast water transported by ships must not be discharged into new waters without treatment. The solution is based on using the ship’s waste heat to pasteurise the ballast water....

Looking Towards Expansion of Nigeria's Maritime Industry

By Akinseye Olatokunbo Aluko 2019-10-12 22:21:54

Nigeria has been recognized globally as a reputable maritime nation with over 8,000 kilometers of navigable inland and coastal channels, as well as its fresh water lakes. However, it is struggling to strengthen its maritime sector with modern maritime architecture capable of boosting the country’s GDP. Nigerian seaports are a significant example. They are relatively small for modern vessels to load or discharge liquefied products and bulk cargoes, and Nigerian waterways are not deep enough for the navigation of...