ICS: Resume Old OECD Shipbuilding Talks

(Press Release)
Thursday, June 21, 2012

At the Organisation for Economic Co-operation and Development (OECD) in Paris today (Thursday 21 June) the International Chamber of Shipping (ICS) will call on governments to resume negotiations on a new global agreement to eliminate market distorting measures from shipbuilding. <br /> Speaking to governments attending an important OECD Working Party, ICS, on behalf of the world&rsquo;s national shipowners&rsquo; associations (which collectively represent more than 80% of the world merchant fleet) will explain that it was a source of great disappointment that the OECD had, three years earlier, terminated negotiations on a new agreement to eliminate subsidies and market distorting mechanisms in the shipbuilding industry. <br /> This was primarily due to differences between the European Commission and Asian governments about the treatment of pricing of new ships in any new agreement, the latter wishing instead to concentrate on the elimination of subsidies, a position that was supported by ICS. <br /> ICS believes that current poor markets are demonstrating just how seriously damaging the oversupply of ships has been to shipowners&rsquo; revenues, with many companies now struggling to meet their operating costs. <br /> ICS reiterates concern about the overcapacity that exists in many shipyards, with an almost obsessive commitment to market share being displayed by the three major shipbuilding nations: China, Korea and Japan, where 90% of world tonnage is built. <br /> ICS Director of External Relations, Simon Bennett remarked: &ldquo;Even if shipyards go bankrupt, it is likely that in many cases their governments will step in so that they can continue to produce ships which few people want, other than speculators who may be foolishly tempted by knock down prices.&rdquo; <br /> ICS welcomes the fact that the OECD Working Party on Shipbuilding is continuing to meet, in order to explore further what constitutes market distortion and the means of achieving greater transparency on government support measures. ICS hopes that the OECD Working Party will work towards the goal of encouraging the resumption of formal negotiations on a new global agreement as soon as possible. <br /> <br /> &nbsp;<br /> <br /> &nbsp;</p>

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

MNZ Inspectors Board Fishing Vessels Off South Island

A joint operation by Maritime New Zealand (MNZ) and the New Zealand Defence Force – Operation Moana – has seen 16 fishing vessels operating off the west coast of

Bahri Appoint Two Board Members

The National Shipping Company of Saudi Arabia (Bahri) announces it received on 21/11/1435H corresponding to 16/9/2014G a letter from Saudi Aramco Development Company (SADC) appointing Mr.

RWE Dea Awarded Two New Concessions in Egypt

In the International Bid Round 2013, RWE Dea has been awarded two new offshore concessions with operatorship by the Egyptian General Petroleum Corporation (EGPC).

Shipbuilding

SSI Webinar: ShipConstructor MarineDrafting

As part of its Technical Webinar Series, SSI will host a ShipConstructor MarineDrafting Product webinar on Wednesday, September 24, 2014 from 8-9 a.m. (PDT).  The

Seaspovill Orders Second Damen Fast Ferry

South Korean operator Seaspovill signed its second contract for a Fast Ferry with the Netherlands-based shipbuilder Damen Shipyards Group. The Fast Ferry 4212 -

MacGregor Wins RoRo Cargo Access Equipment Order

MacGregor has won an order from Daewoo Shipbuilding and Marine Engineering (DSME) in South Korea for the design and delivery of MacGregor RoRo cargo access equipment.

Government Update

Oil Edges Below $99 but Supply Risks in Focus

Oil traded slightly lower below $99 a barrel on Thursday, pressured by ample supply and concern over the weakening of demand growth in major consumer nations, as well as a rise in the U.

Shell: Nigeria Oil Union Strike Not Affecting Exports

A strike by Nigeria's oil unions is not having any immediate impact on crude oil exports from Africa's top exporter, despite moving into a third day, spokesmen

MNZ Inspectors Board Fishing Vessels Off South Island

A joint operation by Maritime New Zealand (MNZ) and the New Zealand Defence Force – Operation Moana – has seen 16 fishing vessels operating off the west coast of

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1959 sec (5 req/sec)