BusinessNews

The Rise and Decline of Kinetic-Hydraulic Power

By Harry Valentine 2019-09-21 19:05:28

Some 10 years ago, there was great interest in kinetic free flow turbines able to generate electric power from rivers, ocean currents and tidal currents as well as from coastal ocean wave conversion. While still being considered in some regions, interest in the technology has declined. Introduction The practice of converting power of rivers to mechanical work dates back over some 4,000 years to Ancient Greece, when innovative people built a mechanism to use river energy to convert grain such...

South Korea Officially Downgrades Japan as Trade Partner

By The Maritime Executive 2019-09-17 18:55:01

South Korea officially removed Japan from its list of trusted trade partners on Wednesday as part of an on-going trade war between the two nations. The conflict is the result of South Korea's expectations for compensation for forced labor and sexual slavery by Japan before and during World War II. Japan downgraded its trading relationship with South Korea in August by taking it off a list of nations for which exports of industrial and high-tech products are fast-tracked. South Korean...

Marine Insurance Premiums Rise Amid Market Uncertainty

By The Maritime Executive 2019-09-16 18:03:00

The International Union of Marine Insurance (IUMI) has released data showing that marine underwriting premiums for 2018 were $28.9 billion, a one percent increase on 2017. With significant challenges facing the market, the modest increase is not significant to herald an upturn in the fortunes of the marine insurance sector, says Vice-Chair of IUMI's Facts & Figures Committee, Astrid Seltmann. “Changes to frame conditions are the most likely reason for the modest increase in premiums as opposed to any real...

file photo of Abqaiq oil plant courtesy of Saudi Aramco

Drone Attack Threatens Global Oil Supplies

By The Maritime Executive 2019-09-15 17:04:59

A drone attack on two of Saudi Aramco’s oil facilities in Saudi Arabia on Saturday has threatened global oil supplies. Saudi Aramco emergency crews contained fires at its plants in Abqaiq and Khurais as a result of the terrorist attacks which have resulted in production suspension of 5.7 million barrels of crude oil per day. After visiting the incident locations, Amin H. Nasser, Saudi Aramco President & CEO, said: “We are gratified that there were no injuries. I would like...

UNCTAD: Nations Dependent on Commodities Should Diversify

By The Maritime Executive 2019-09-14 17:39:09

Economic and export diversification is the best response to the challenges posed by climate change in developing countries that depend on commodities, according to UNCTAD’s Commodities and Development Report 2019. The diversification could be horizontal, which entails venturing into new goods and sectors to reduce dependence on a narrow range of commodities, or vertical, which involves moving the value chain of a commodity up to increase its worth, says the report, Commodity Dependence, Climate Change and the Paris Agreement. Although...

Dr. Syed Mohammed Anwer, President Maritime Study Forum, presenting the shield of honor to Professor Julius Kibet Bitok, High Commissioner of Kenya to Pakistan.

Recalibrating Pakistan-Kenya Relations

By Syed Abdullah Anwer 2019-09-14 17:25:00

Kenya is increasingly emerging as a regional hub of economic activity, especially after the formation of the East African Community, said Professor Juilus Kibet Bitok, High Commissioner of Kenya to Pakistan while meeting with Dr. Syed Mohammed Anwer President of the Maritime Study Forum in Islamabad. Kenya’s location is crucial for Pakistan’s “Look to Africa” plan, says Anwer. The plan was formulated by the Maritime Study Forum in early 2019 as a concept map for the public and private Pakistani...

Australia Investigates Cattle Treatment During Festival of Sacrifice

By The Maritime Executive 2019-09-11 04:39:02

Australia's Department of Agriculture is investigating a complaint from Animals Australia about the way cattle were killed in Indonesia as part of this year's Muslim Festival of Sacrifice (Eid). The Guardian has released an image taken from footage submitted to the government by Animals Australia showing cattle killed in an underground carpark near a mosque in North Sumatra last month. The footage, yet to be released publicly, reportedly shows terrified steers being roped, forced to the ground and held down...

Greenland Isn’t For Sale, But It Is For Lease

By Mia Bennett 2019-09-11 00:42:17

Trump’s much-lampooned interest in purchasing Greenland is finally falling out of the headlines. As the icy dust subsides, it's easier to approach the situation with a little less knee-jerk outrage. Trump's desire to buy the island likely stems from a simplistic understanding of real estate transactions scaled up to international relations. But the fact of the matter is that even if global norms still allowed America to buy Greenland, the neat redrawing of national borders and flag-raising that would follow...

Port of Oakland Executive Director

By The Maritime Executive 2019-09-09 13:02:51

The Port of Oakland includes the Oakland seaport, Oakland International Airport, and 20 miles of waterfront. The Oakland seaport is among the top ten busiest container ports in the U.S.; Oakland International Airport is the fifth largest airport in California offering over 375 daily passenger and cargo flights; and the Port’s real estate includes commercial developments such as Jack London Square and hundreds of acres of public parks and conservation areas. The Port employs approximately 500 individuals and has annual...

Dr. Syed Mohammed Anwer, President Maritime Study, Forum presenting shield to HE Soobadar Rashidally, Mauritian High Commissioner to Pakistan.

Emerging Pakistan-Mauritius Maritime Relations

By Syed Abdullah Anwer 2019-09-09 03:30:00

A new dynamism is needed in maritime relations and trade exchanges between Pakistan and Mauritius, says the Mauritian High Commissioner in Pakistan, Soobadar Rashidally. Mauritius has had diplomatic relations with Pakistan since 1968, soon after its independence, but the two countries do not have much joint economic activity even though there is a Pakistani diaspora there. Rashidally met with Dr. Syed Mohammed Anwer, President of the Maritime Study Forum, in Islamabad on September 3 to discuss mutual interests between two...