BusinessNews

BRI Trade Reached $617.5 Billion in First Half of 2019

By The Maritime Executive 2019-07-15 22:02:31

China's trade with countries participating in the Belt and Road Initiative (BRI) reached $617.5 billion in the first half of 2019, up 9.7 percent year-on-year. This increase was greater than the growth rate of the country's total trade for the period which remained stable at 3.9 percent, according to the General Administration of Customs. Exports and imports with Russia, Saudi Arabia and Egypt went up by 11.5 percent, 34 percent and 11 percent respectively. China has signed cooperation documents on...

The Road to Green-Land

By Dimitri G. Vassilacos and Jason Dallas 2019-07-15 17:59:27

Although shipping is undoubtedly - and by far - the most efficient/greenest way of transporting large cargos across long distances, it is clear that the industry is under increasing pressure from pretty much everyone, from countries and international organizations all the way to investors and pressure groups, to become even greener. Given the industry’s critical role as the connecting tissue of global logistics and its impact on the overall economy this is no simple task to achieve. ...

Watch: China's Belt and Road Initiative Explained

By The Maritime Executive 2019-07-13 04:42:30

CNBC has prepared a film explaining China's belt and road initiative. The initiative was unveiled by Chinese President Xi Jinping in 2013. The Chinese government it "a bid to enhance regional connectivity and embrace a brighter future". Some observers see it as a push for Chinese dominance in global affairs with a China-centered trading network. The project has a targeted completion date of 2049, which coincides with the 100th anniversary of the People's Republic of China.

A. P. Moller Buys Into Renewables

By The Maritime Executive 2019-07-10 21:03:36

A.P. Moller Holding, the controlling entity of A.P. Moller-Maersk, has announced a first step into renewables with the acquisition of Danish wind turbine supplier KK Group. Reuters reports that the parties declined to disclose the price of the deal. A.P. Moller Holding will buy KK Group, whose main activities are through KK Wind Solutions, from Swedish private equity Solix Group. The A.P. Moller Group reported a 2018 revenue of $40 billion with consolidated assets of $62 billion. The purpose of...

SpaceX "Catches" Rocket Nose Fairing At Sea

By The Maritime Executive 2019-07-02 21:50:17

Commercial space launch firm SpaceX has successfully completed the recovery of a rocket nose fairing at sea for the first time. SpaceX is attempting to lower the cost of launching satellites by reusing rocket components wherever possible. After launch, it lands its rocket booster stages at sites onshore and on DP-equipped flat deck barges ("drone ships") at sea. This is an industry first, and every reused booster rocket saves millions in manufacturing costs. SpaceX has attempted to recover its rockets'...

Head Maritime Operations at NATO – CMRE

By The Maritime Executive 2019-07-01 08:48:38

The Centre for Maritime Research and Experimentation: The Centre for Maritime Research and Experimentation (CMRE) is an executive body of the Science and Technology Organization (STO) and is governed by the provisions of the STO Charter. Within the framework of the STO in-house delivery business model, the CMRE organizes and conducts scientific research and technology development and deliver innovative...

Outlook for Oil Market Mixed

By The Maritime Executive 2019-06-30 21:00:59

As OPEC and OPEC+ meet in Vienna, the outlook for the market is mixed, Ann-Louise Hittle, vice president, Macro Oils, at Wood Mackenzie said. “Geopolitical risk means the supply outlook is tightening, offsetting the moderate weakening in oil demand growth thus far this year,” she said. “We expect demand to increase one million barrels per day (b/d) in 2019, with a pick-up in the second half of the year after the weak growth in the first half. However, this is...

Virgin Hyperloop One Attracting U.S. Interest

By The Maritime Executive 2019-06-30 18:42:58

Virgin Hyperloop One is attracting attention in the U.S. with a “Hyperloop on the Hill” event hosted last week in Washington D.C. Over 400 Members of Congress attended. As well as projects underway in India, the Middle East and Europe, Virgin Hyperloop has plans for Texas, Missouri, the Midwest and Nevada. The event is building off of the momentum of U.S. Secretary of Transportation Elaine Chao’s newly-formed Non-Traditional and Emerging Transportation Technology (NETT) Council to support new and innovative transportation...

Tariff Negotiations “Back on Track”

By The Maritime Executive 2019-06-29 18:48:41

U.S. President Donald Trump and China’s President Xi Jinping met at the G-20 summit in Japan last week, with Trump saying afterwards that negotiations between the two countries are “back on track.” Trump said he would hold off on new tariffs on China as talks resume and spoke of easing of restrictions on the technology company Huawei. In return, China has agreed to buy U.S. farm products. “China and the United States both benefit...

WTO: G20 Trade Restrictions Historically High

By The Maritime Executive 2019-06-24 22:08:38

The WTO’s 21st Monitoring Report on G20 trade measures issued on June 24 shows a continuation of record high trade restrictions. The trade coverage of new import-restrictive measures introduced during the period (October 2018 to May 2019) was more than 3.5 times the average since May 2012 at $335.9 billion. This is the second highest figure on record, after the $480.9 billion reported in the previous period. Together, these two periods represent a dramatic spike in the trade coverage of...