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

Legal

OW Bunker Bankruptcy has ‘Limited Impact’ on Monjasa

Though OW Bunker’s collapse has varyingly affected many companies around the globe, Danish bunker fuel provider Monjasa A/S said in a statement that the news holds

Australian Navy Seizes $158m of Heroin

An Australian Navy warship patrolling Indian Ocean waters seized heroin worth $158 million near east Africa this week, a navy official said on Thursday, one of

Aussie Tug Engineers take Deal, Cancel Strike

Tug engineers withdrew plans to strike at Port Hedland, Australia's biggest iron ore port, tug operator Teekay Shipping said on Thursday, removing a threat to exports

Shipbuilding

Pair of ASD Tugboats Delivered to Keppel-Smit

The ASD tugs KST Passion and KST Pride were were delivered to their owner, Keppel-Smit Towage Pte. Ltd of Singapore in October 2014. The two vessels are the first

New Portable Power System from SWE

Southwest Electronic Energy announced the launch of POW-R Tote, a rugged, lightweight, 12V/117Ah portable power system which provides compact-convenient energy

Energy Storage System Ordered for LNG Battery Hybrid Ferry

Norwegian hybrid to be the first LNG battery ferry to operate on commercial routes Corvus Energy, Siemens AS and Fjord1 have announced the award of the contract for the Fannefjord LNG hybrid ferry.

Government Update

Ice to Close Upper Mississippi from Nov. 20

The shipping season on the upper Mississippi River will end on Thursday as ice surrounding locks and dams near Minnesota's Twin Cities forced the earliest winter

Aussie Tug Engineers take Deal, Cancel Strike

Tug engineers withdrew plans to strike at Port Hedland, Australia's biggest iron ore port, tug operator Teekay Shipping said on Thursday, removing a threat to exports

Mombasa's 2014 Port Cargo to Soar 14 pct

East Africa's biggest port, Mombasa, expects to handle at least 14 percent more cargo this year, helped by its expanded capacity and a marketing drive, its management said on Thursday.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Port Authority Salvage Ship Electronics Ship Repair
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: 0.1183 sec (8 req/sec)