Wto News

Political pressure is building within the European Union to tackle the daunting challenge of closing a loophole in its efforts to stop using Russian fossil fuels: liquefied natural gas (LNG).In the year since Russia's February 2022 invasion of Ukraine, the EU has placed sanctions on seaborne oil and coal imports from Russia.It has drastically cut reliance on Russian pipeline gas, despite not imposing sanctions on the fuel. But at the same time, EU countries have increased their overall purchases of Russian LNG…

Global merchandise trade growth slowed at the end of 2022 and was likely to remain weak in the first quarter of this year, the World Trade Organization said on Wednesday.However, the WTO said any slowdown may be short-lived given that container throughput at Chinese ports and new export orders have already started to pick up, the former following a sharp easing of COVID-19 restrictions in China.The WTO said its goods trade barometer dropped to 92.2 points in March from 96.2 points in November, remaining well below the 100-point baseline dividing above- and below-trend trade volumes.The WTO sai

Trade is a major cause of global warming. Think of all those goods travelling from far away on polluting ships – and raw materials and components whizzing across the world in complex supply chains.But the right trade policies can also do a lot to save the planet. The solution is to tax trade in carbon-intensive goods and get rid of tariffs on clean ones – while also subsidising green technologies and stopping aid to dirty ones. And to do all this fairly.Trade wasn’t prominent at COP27, the United Nations climate conference which just finished in Egypt.

South Africa, one of the world's biggest citrus exporters, will voluntarily stop shipments of valencia oranges to the European Union (EU) from areas affected by a fungal disease, the citrus growers' association said on Wednesday.The decision to halt exports to the EU comes after 10 incidents in which the fungal disease was detected on South African citrus, Citrus Growers' Association (CGA) Chief Executive Justin Chadwick said in a statement.Chadwick said the voluntary decision was meant to safeguard South Africa's long-term access to the EU…

Global trade bottlenecks are more the result of demand spikes than supply chain snags, with pressure likely to ease in the coming months, the World Trade Organization's chief economist said on Monday.The WTO had thought in October that demand for goods would slow early in 2022. However, that was before the Omicron variant of coronavirus led to curbs on activity, including the postponement of the WTO's ministerial meeting.Chief economist Robert Koopman said consumers had then continued…

Makers of Irish whiskey, Belgian chocolate and European coffee brands are scrambling to comply with new Chinese food and beverage regulations, with many fearful their goods will be unable to enter the giant market as a Jan. 1 deadline looms.China's customs authority published new food safety rules in April stipulating all food manufacturing, processing and storage facilities abroad need to be registered by year-end for their goods to access the Chinese market.But detailed procedures explaining how to get the required registration codes were only issued in October…

Global goods trade is slowing after a sharp rebound following the initial shock of the COVID-19 pandemic as production and supply disruptions and cooling demand for imports dampen growth, the World Trade Organization said on Monday.The WTO said its goods trade barometer dropped to 99.5 points, close to the baseline of 100, in November following a record reading of 110.4 in August.The Geneva-based trade body said supply shocks, including port gridlock arising from surging import demand in the first half of the year and disrupted production of goods such as automobiles and semiconductors, had co

The World Trade Organization said on Friday global trade in goods had rebounded in the third quarter from COVID-19 lockdowns, but predicted a slowdown at the end of 2020.The WTO said its goods trade barometer had risen to 100.7 points from a record low of 84.5 points in August, driven by a surge in export orders. A reading greater than 100 indicates above-trend growth.“The latest reading indicates a strong rebound in trade in the third quarter as lockdowns were eased, but growth is likely to slow in the fourth quarter as pent-up demand is exhausted and inventory restocking is completed…

The Trump administration will push for a broad reset of “outdated tariff determinations” at the World Trade Organization to fix what it sees as years of unfair treatment of the United States, a top trade official told U.S. lawmakers on Wednesday.U.S. Trade Representative Robert Lighthizer said the Geneva-based body was “a mess” and changes in the tariffs set by the Geneva-based WTO were urgently needed to better reflect current economic realities.“Many countries with large and developed economies maintain very high bound tariff rates…

William P. Doyle, a former U.S. Federal Maritime Commissioner, has been hired to lead the Port of Baltimore as the new executive director of the Maryland Port Administration, Maryland Governor Larry Hogan announced.Currently CEO and Executive Director of the Dredging Contractors of America, Doyle will take the helm at the Port of Baltimore effective July 22, succeeding Jim White, who announced he would step down at the end of 2019. Doyle was appointed by Secretary of the Maryland Department of Transportation (MDOT) Greg Slater…

The World Trade Organization (WTO) said on Wednesday its goods trade indicator fell to the lowest level since its launch, indicating global trade was likely to fall “precipitously” in the first half of 2020 due to disruptions caused by COVID-19.The indicator, launched in July 2016, fell to 87.6 from 95.5 in February, the Geneva-based body said. Readings of less than 100 indicate trade below medium-term trends.“The current reading captures the initial phases of the COVID-19 outbreak…

Japan launched a second complaint at the World Trade Organization on Monday over support South Korea gives its shipbuilding industry, intensifying a wider dispute between the two Asian countries.Japan said in its filing that it had complained to South Korea on Jan. 31 over measures related to the development, production, marketing and sales of commercial vessels. Japan circulated it to other WTO members on Monday.Washington's two biggest Asian allies are embroiled in a widening…

The Japanese government has filed a new petition with the World Trade Organization (WTO) against South Korea concerning alleged aid provided by the Korean government to the country’s shipbuilding industry.According to Yonhap, Japan has asked South Korea to discuss the issue which it says is affecting international competition, and if the talks fail, Japan will seek to establish a dispute settlement panel.In November 2018, Japan filed a complaint with the WTO, claiming that South Korea violated existing regulations by providing subsidies to its shipbuilders, resulting in damage to the Japanese industry.In December 2018, the two sides…

World growth and trade volumes under pressure, but still positive. A continued slowdown in global growth, as well as a lower trade multiplier will reduce overall demand for shipping for the rest of this year and through 2020.Expectations for global trade growth have also been lowered for 2020; this is now forecast at 2.7%, down from 3%. The WTO cautions that risks to these forecasts are weighted to the downside, with these risks including a potential deepening of trade tensions…

The oceans are under siege, campaigners warn, and fish stocks could collapse unless a global deal is struck swiftly to ban harmful fisheries subsidies. The World Trade Organization, meanwhile, can't agree on who will head the committee to discuss the issue, according to sources close to the negotiations.More than 90 percent of fish stocks are at maximum sustainable levels or overfished, according to the U.N. Food and Agriculture Organization, and environmentalists say a subsidies…

The increased risk of large, more complex and costly claims has the potential to impact all marine underwriting sectors in 2019, said the International Union of Marine Insurance (IUMI).Although the global fleet continued to grow at around 3% in 2018, the number of total losses (vessels over 500GT) stood at a 20-year low. Only 21 total losses were recorded last year and this is on the back of a general downward trend witnessed since 2010. The reduction was seen across all vessel classes.Serious casualties (excluding total losses) have stabilised over the past three years but are still higher, on average, than in 2014. There is likely to be a spike in Q1 2019 when numbers have been finalised.

International Maritime Organization (IMO)’s Facilitation Committee addresses the efficiency of shipping by dealing with all matters related to the facilitation of international maritime traffic, including the arrival, stay and departure of ships, persons and cargo from ports.The Committee is meeting for its 43rd session (8-12 April), coinciding with the entry into effect of new requires for all public authorities to introduce electronic exchange of information between ships and ports.Alongside other agenda items, the Committee is expected to continue its ongoing work on harmonization and standardization of electronic messages and develop…

The United Arab Emirates has eased a ban on the shipping of goods between it and Qatar enforced under a political and economic boycott of Doha, according to port circulars and an industry source.The UAE, Saudi Arabia, Egypt and Bahrain severed diplomatic, trade and transport ties with Qatar in June 2017 over allegations it supports terrorism, a charge Doha denies.An Abu Dhabi Ports circular dated Feb. 12 cancelled previous directives that banned cargoes of Qatar origin from UAE waters and ports and those of UAE origin from Qatar.It maintained a ban on vessels flying the Qatar flag…

International Chamber of Shipping (ISC) Chairman Esben Poulsson has warned of the threats facing the global economy as US trade sanctions against China and other countries risk damaging long-term development.Speaking on behalf of the global trade association for ship owners in Tokyo on 13 November, Poulsson said that the shipping industry had little power to change the geopolitical and trade policies pursued by governments.Esben Poulsson, highlighted serious concerns about the challenge presented by the United States ‘to the proven benefits of multilateralism and the existing global trading order underpinned by a system of international…

Japan has launched a complaint at the World Trade Organization to contest allegedly illegal financial support given by South Korea to commercial shipbuilders, according to a WTO filing published on Tuesday."The measures in question relate to the development, production, marketing, and/or sale or purchase of commercial vessels, including vessels designed to carry crude oil, liquefied natural gas (LNG), and shipping containers," Japan's complaint said.(Reuters, Reporting by Tom Miles; editing by Stephanie Nebehay)

Dueling tariffs raise fears of long A U.S.-China trade fight resulting in duties on $34 billion worth of each other's imports was seen dragging on for a potentially prolonged period, as Washington and Beijing flexed their muscles with no sign of negotiations to ease tensions.Friday marked the start of the U.S. duties that were promptly met with retribution by China, as Beijing accused the United States of triggering the "largest-scale trade war."The escalating fight between the…

South Korean shipyards have seemingly boxed out rivals from the market for building large ships carrying liquefied natural gas (LNG), winning all of the orders for the next three years worth more than $9 billion.Three South Korean yards - Daewoo Shipbuilding & Marine Engineering (DSME), Hyundai Heavy Industries and Samsung Heavy Industries - have won the more than 50 orders placed for new large-scale LNG tankers for delivery in the next three years, according to data from the…

When a ship comes into port it may be the end of a voyage, but just the beginning of a range of administrative tasks that need to be completed.The port is unlikely to be the final destination for the cargo – which will need to be unloaded and forwarded in a variety of ways. This requires logistics and infrastructure that connects the port to other inland places and regions – known as ‘hinterland connectivity’. This was the issue under the spotlight at the first regional conference of The International Association of Ports and Harbors (IAPH) in Abuja, Nigeria (17-19 September), inaugurated by the President of Nigeria.The conference brought together African ports…