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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

China Slams South China Sea Case as Court Set to Rule

An international court said on Wednesday it would deliver a hotly anticipated ruling in the Philippines' case against China over the South China Sea on July 12,

CMA CGM Crosses 91.05% Ownership Threshold of NOL

CMA CGM S.A has crossed the compulsory acquisition ownership threshold in Neptune Orient Lines Limited (NOL).    Following its all-cash voluntary conditional

ECDIS Related Detentions on the Rise

ClassNK has been informed by Australian Maritime Safety Authority (AMSA) that during PSC inspections it has been increasingly reported that vessels have been detained

Shipbuilding

VLCC Delivered to Gener8 Maritime

Gener8 Maritime, Inc., a U.S.-based provider of international seaborne crude oil transportation services, has taken delivery of the ECO VLCC the Gener8 Constantine on June 27,

Future LCS Charleston’s Keel Authenticated

A ceremony was hosted to celebrate the keel authentication of the U.S. Navy's future USS Charleston (LCS 18), the ninth Independence variant littoral combat ship, June 28.

Hybrid RoPax Ferry Delivered to Royal TESO

Hybrid RoPax ferry Texelstroom has been delivered to Koninklijke N.V. Texels Eigen Stoomboot Onderneming (Royal TESO).   This latest generation symmetrical ferry is powered by efficient,

Government Update

BP Receives its First Venezuelan Crude Cargo under Swap Deal

Britain's BP Plc this month received a Venezuelan crude cargo from state-run PDVSA, according to Thomson Reuters trade flows data, the first since the companies

List: Top Five UK Ship Owners

Following last week's landmark referendum results, VesselsValue has compiled a list of the top five U.K.-based shipowners and their total fleet value in USD billions.

FMC's Doyle Addresses VGM Rules

U.S. Federal Maritime Commission (FMC) Commissioner William P. Doyle issued a statement on the upcoming implementation of the SOLAS Convention’s verified gross mass (VGM) requirements:   On Friday,

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Salvage Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | 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: 0.0868 sec (12 req/sec)