Captain Wei Jiafu, President and CEO of China Ocean Shipping Company (COSCO), recently endorsed the potential Panama Canal expansion, citing that a more modern, Canal will benefit the global economy and world trade. Nearly five percent of total world trade transits the Panama Canal. Of this trade, 88 percent flows between the United States and Asia. In a speech given in Panama last month, Captain Wei stated that with the rapid development of China’s economy, the Panama Canal becomes more important as a vital link for China to import and export goods to and from the East Coast of the United States, the Caribbean and the East Coast of South America. “I fully support this expansion plan. I believe that the expansion of the Canal will enable more ships to utilize the Panama Canal. It will not only strengthen Panama financially by bringing considerable revenues, promote development of Panama’s maritime industry, and ensure Panama’s position as the regional maritime center, but it will also benefit the growth of regional and world trade,” said Captain Wei.
The British government will press the U.S. to agree to a liberalization of shipping services at the next round of world trade negotiations, according to a government minister. "The Government will press the U.S. strongly to come on board with a meaningful liberalizing offer," junior trade and industry minister Patricia Hewitt said. However, she conceded that negotiations on maritime transport services could be difficult when the World Trade Organization meets in Seattle in December
Steel salvaged from the World Trade Center is headed to the Ingalls Shipyard in Mississippi. The steel was removed Friday from the Fresh Kills landfill on Staten Island, N.Y. and will be used in the USS New York. The structural steel, weighing about 20 to 30 tons, will be melted down and used to configure the leading edge of the ship’s bow according to a Northrop Grumman spokesman. The USS New York will be the fifth of the 12 amphibious assault ships in the San Antonio class and is
December 31, 2009, marked a decade of management of the Panama Canal by Panama. This vital trade artery has long stood as one of the world’s most recognized and respected engineering marvels and a crucial link in the global supply chain. Building on this, the decade of Panamanian stewardship and leadership has been evidenced by change, achievement and growth. By nearly every measure, the Canal’s role in world trade and value to global commerce has increased significantly in the
HSBC reminds UAE forum of growing importance of MENA (Middle East, North Africa) & China trading corridors Trade corridors between China and the MENA region carry huge economic growth potential for businesses, offering the greatest prospects in the commodity and energy sectors said HSBC at its Middle East and North Africa (MENA) and China Forum recently held in the UAE. Emphasising the growth of China as a trading powerhouse
A U.S. House subcommittee voted on Wednesday to advance a bill that would eliminate the need for government approval of U.S. liquefied natural gas exports to countries that belong to the World Trade Organization. The legislation, which will be considered by the full House energy committee, would essentially end the Energy Department's review of LNG export applications. (Reporting by Ayesha Rascoe; Editing by Jeffrey
ABS confirms that all employees of its New York Executive Office, located on the 91st floor of One World Trade Center, evacuated safely from the building. The office normally staffs 22 people. At the time of tragedy 16 employees were either in the office or in transit to the office. All 16 employees are accounted for. Physical injuries were limited to minor cuts and abrasions. "It is miraculous given the point of impact of the aircraft was immediately above the ABS offices
The presentation of an Export Achievement Certificate to Small and Medium-Sized Firms was awarded to WESMAR in late May of 2002 by the United States Department of Commerce, International Trade Division. Commerce Deputy Secretary Samuel Bodman highlighted World Trade Week by presenting three Washington companies with the U.S. Department of Commerce's Export Achievement Award. The award recognizes business clients of the Department's Commercial Service that have used their services to make
Panama President and Canal Authorities Commemorate New Milestone in Canal Expansion Work. Panama President Ricardo Martinelli witnessed a new milestone at the Canal Expansion with the filling of a segment of the new access channel that will allow the transit of Post-panamax vessels between the new Locks and the Culebra Cut. Panama Canal Authority Board of Directors Chairman and Canal Affairs Minister Rómulo Roux and Panama Canal Authority Administrator Alberto Alemán Zubieta
Braemar Adjusting has underlined its commitment to the Middle Eastern onshore and offshore Energy Insurance Market by opening a dedicated loss adjusting operation, based in Dubai. With effect from 1 April 2013, Chris Eades, Regional Director for the Middle East, and Senior Adjuster Sam Foster, will start working from the Dubai World Trade Center Building offices of sister company Braemar Salvage Association, before moving into their own Braemar Adjusting offices later in the year.
Port Everglades received key federal clearance to begin the next phase of deepening and widening its channels. The port now can seek Congressional funding for a project that would generate thousands of jobs and maintain the region's leading position in international trade.
According to the Internatinal Chamber of Shipping, the United States Congress signaled last week its intention to approve major free trade deals with Asia and Europe. ICS voices serious concern about the potentially protectionist approach being taken by the U.S
The State University of New York (SUNY) Maritime College has selected Dr. Richard Burke and Dr. Christopher Clott as its inaugural ABS chairs following a comprehensive search that drew an expansive range of applicants, the college announced today.
Industrial cooperation is high on the agenda during Premier Li Keqiang's stay in France. China's deals with the world's third largest container shipping group - CMA CGM was highlight. "July 1st will be a milestone in our Group’s history
APM Terminals Maasvlakte II held a ceremony to celebrate the opening of the world’s most automated container terminal. The event that was attended by Dutch King Willem-Alexander and 500 representatives of the port industry and governments from around the world
The American Association of Port Authorities (AAPA) elected Jim Quinn, president and CEO of New Brunswick, Canada’s Port Saint John, to serve as the international trade association’s chairman of the board for the 2015-16 activity year.
Eddy Hayes, Chairman of the Board of Directors, World Trade Center of New Orleans, and Gary LaGrange, President and Chief Executive Officer of the Port of New Orleans, discuss New Orleans’ role as a key U.S. port city and address opportunities for trade expansion.
Three U.S. Navy ships, two U.S. Coast Guard (USCG) cutters, and four U.S. Naval Academy (USNA) Yard Patrol boats have arrived in the New York Harbor to participate in the 2015 Fleet Week New York Parade of Ships. Participating ships include the amphibious transport dock USS San Antonio
Dubai is set to remain at the epicenter of golf on The European Tour for the foreseeable future after global port operator DP World announced today that it will continue to be the title sponsor of the DP World Tour Championship, the season ending tournament of The Race to Dubai
Director-General Roberto Azevêdo of World Trade Organization wrapped up a three country visit to Malaysia (19-20 May), the Philippines (21-24 May) and Singapore (25 May) today, hailing the strong support of all three countries for the multilateral trading system and more specifically
Close to 1,000 maritime exhibitors showed off the breadth and diversity of the shipping industry at this week’s Nor-Shipping, the bi-annual event that opened in Oslo on 1 June. About 35,000 delegates from 70 countries are expected to attend more than 100 events during the
London International Shipping Week 2015 (LISW15) is pleased to announce the line up, so far, of high level government and industry speakers for the official LISW15 Conference being held at the Grosvenor House Hotel on London’s Park Lane, on Thursday 10th September.
Egypt's new Suez Canal is expected to open in early August in a project President Abdel-Fattah el-Sissi sees as a potent symbol of national pride and to boost the country's battered economy, according to a report in Reuters. The president ordered the new waterway to be dug in a
The annual Terminal Operators Conference (TOC) in Europe was held June 9-11 in Rotterdam with over 4000 people attending the conference supply chain sessions, Tech TOC, Bulk TOC venues and exhibits. Alex Duca, head of design and automation for APM Terminals called for a sensor
The Nicaragua canal project, which is being built by Chinese billionaire Wang Jing and his Hong Kong-based Hong Kong Nicaragua Canal Development Investment Co. (HKND Group), is not a threat to Panama, but a complement to the demand of world maritime trade, says the president of Nicaragua