BusinessNews

Port Growth to Level Off Over Next Decade

By MarEx 2019-03-14 18:50:44

Volume growth will continue for ports throughout the world but at a more modest pace over the next 10 years, according to Fitch Ratings in a new report. Global port throughput has shown resilience over the last 10 years with throughput growth outpacing economic growth rates despite volatility through the last recession. Containerization of cargo and increasing vessel sizes coupled with supporting infrastructure at ports have all contributed to these throughput trends. However, growth rates are slowing relative to historical...

International Ports Capable of Serving Mega-Sized Winged Ships

By Harry Valentine 2019-03-14 18:38:24

Large-scale wing-in-ground effect vehicles that carry priority freight internationally will require arrival terminals and special water runways along which to accelerate in order to transfer into ground effect mode. The coastal world offers numerous suitable locations. Introduction There are possible market applications for large-scale ground effect transportation technology capable of carrying containers internationally on both overnight transportation service as well as extended-distance trans-oceanic service. A market niche is emerging for overnight freight transportation service between many pairs of coastal cities...

The Impact of Free Trade and Technology on Africa's Development

By Pedro Guerreiro 2019-03-14 18:17:46

When the Africa Continental Free Trade Area is implemented this year, it will create a single market for goods and services for the first time in the continent's history. The agreement will cover a geographic area with a combined GDP of $3.2 trillion and a population of 1.2 billion people. It has the potential to drastically accelerate economic growth and exceed the African Development Bank's current estimates for GDP growth from $1.7 trillion...

The Grand Tour: Clarkson Pits Citroen Against Car Carrier

By MarEx 2019-03-13 18:51:26

In an episode of The Grand Tour, Jeremy Clarkson attempts to tow a 13,000 ton car carrier with a one-ton Citroen. Co-presenter Richard Hammond thinks he's an idiot. The Grand Tour is a British motoring television series, conceived by Clarkson, Hammond, James May, and Andy Wilman and produced by Amazon Studios. It launched in November 2016 and is similar in format to the BBC series Top Gear.

Internet of Things Drives Component Trade Expansion

By MarEx 2019-03-12 18:35:29

A burgeoning demand for the Internet of Things (IoT) is propelling exponential growth in the trade of electronic components. Demand for electronic components used in IoT devices drove the value of trade in international imports of information and communications technology (ICT) goods to $2.1 trillion in 2017, according to new figures released by UNCTAD. It is the first time that global ICT goods imports have rebounded since 2014, showing six percent annual growth. Trade in ICT...

No Peak in Oil Demand in Sight

By MarEx 2019-03-11 18:48:44

The U.S. will drive global oil supply growth over the next five years thanks to the remarkable strength of its shale industry, triggering a rapid transformation of world oil markets according to the International Energy Agency’s annual oil market forecast. By the end of the forecast, oil exports from the U.S. will overtake Russia and close in on Saudi Arabia, bringing greater diversity of supply. While global oil demand growth is set to ease, in particular as...

Australia Confident of Mining Future

By MarEx 2019-03-10 17:35:37

Australia's coal exports to China could face a continued slowdown as Chinese authorities step up their campaign to reduce air pollution, but the Australian government remains confident of the nation's mining future. Australian resources exports in 2018 set a new record of $248 billion. Higher prices and export volumes produced a record $66 billion in exports of coal, and made it Australia’s most valuable single export. However, Australia has a broad mining portfolio. On Friday, Australia’s newest bauxite mine was commissioned...

Business is Good but Cost Cuts are Coming at CMA CGM

By MarEx 2019-03-04 19:10:28

Number-four ocean carrier CMA CGM had a banner year last year, with record revenues and record TEU volumes, and it's forecasting a strong trade environment for 2019. This kind of outlook is often accompanied by announcements of new investments, but instead, CMA CGM is announcing an effort to cut costs. "We will continue our development with the objective of improving profitability. That is why we are launching a new $1.2 billion cost reduction plan,” said CMA CGM chairman and CEO...

Chinese President Xi Jinping (R) meets with Mohammed bin Salman Al Saud, Saudi Arabia's crown prince, at the Great Hall of the People in Beijing.

China to Boost Belt and Road Links with Saudi Arabia

By MarEx 2019-02-26 00:50:57

Chinese President Xi Jinping met with Mohammed bin Salman Al Saud, Saudi Arabia's crown prince, at the Great Hall of the People in Beijing last Friday. "The two countries should speed up the signing of an implementation plan on connecting the Belt and Road Initiative with the Saudi Vision 2030," Xi said, also expecting progress on cooperation in areas such as energy, infrastructure, trade, investment and high value-added industries. The two countries should jointly press ahead with the construction of...

The Irish Backstop and Trade – What and How Much?

By Daniela Stratulativ 2019-02-25 23:15:27

The Irish backstop solution for Brexit would ensure Ireland's border with Northern Ireland remains open. In November last year, the European Commission stated that the E.U. and the U.K. have committed that they will use their best endeavors to conclude and ratify an agreement by July 1, 2020 which would replace the backstop. On February 20, 2019, European Commission President Jean-Claude Juncker and British Prime Minister Theresa May said that the backstop provision is temporary. What the backstop means: there...