ASA Appoints Sonoda as Secretary General
With the current international efforts to contain the spread of COVID19, travel restrictions are in place globally. However, ASA has determined that it is not an obstacle to have Yuichi Sonoda picked up his role as ASA newly appointed Sec-Gen with effect from May 1, 2020. This is a role he is thoroughly familiar with. As he had served as ASA Sec-Gen during the period between 2010 to 2014, he was instrumental in numerous initiatives and conferences.Involving in the work of ASA since its inception in 1992, (known then as Asian Shipowners’ Forum : ASF) Yuchi Sonoda had been tirelessly supporting and promoting ASA's vision and missions. In 1996, he was appointed as the Secretary of Shipping Economics Review Committee (SERC), one of the five Standing Committees of ASF.
France's Macron Calls for Global Trade Reform
French President Emmanuel Macron on Wednesday said it was time for the world's biggest economic powers to start talks on reshaping World Trade Organization rules to prevent current tensions spiraling into trade wars.Macron's comments before the Paris-based Organization for Economic Cooperation and Development (OECD) came as the European Union faced less than 48 hours to win an exemption from U.S. tariffs on European aluminium and steel."This is about a complete update of global competition rules…
Trump Rails Against Oil Prices, OPEC Pushes Back
U.S. President Donald Trump accused OPEC on Friday of "artificially" boosting oil prices, drawing rebukes from some of the world's top energy exporters."Looks like OPEC is at it again. With record amounts of Oil all over the place, including the fully loaded ships at sea. Oil prices are artificially Very High! No good and will not be accepted!" Trump wrote on Twitter.It was unclear what triggered the tweet, Trump's first mention of OPEC on social media during his term.U.S. oil prices are near a three-year high…
Korean Shipbuilding Investment Creating Risk for Government: OECD
Two of Korea's major shipbuilding financiers are creating fiscal risks for the government due to the shipbuilding industry's struggles, the Organization for Economic Cooperation and Development (OECD) warned yesterday. The report comes just days after Korean shipyards retook the number one spot in global compensated gross tonnage (CGT) delivered, after delivering 12.1m in CGT in 2014. Korea had the number one spot from 2002 to 2009, until falling to second behind China in 2010, the Maritime Executive reported. The Korea Times said that two-state owned export credit agencies, Korea Exim Bank and K-Sure, were singled out as having a problematic level of investment in an industry that is increasingly struggling to pay its debts.
The Year in Review
The last 12 months has been one for the books ... or the trash. There was no shortage of government inducements to turn the lackluster tide in 2012—stimulus spending in China and Japan, quantitative easing by the U.S. Federal Reserve, and multiple actions by the European Central Bank to strengthen the Eurozone. But as the year evolved, weak macroeconomic fundamentals decisively trumped monetary policy initiatives and continued their choke on global commerce, hence the maritime sector.
Climate Change Impacts on Ports and Trade
Ports are likely to be affected directly and indirectly by climate changes, such as rising sea levels, extreme weather events and rising temperatures. Climate change and its impact on ports will be the theme of the upcoming United Nations Conference on Trade and Development (UNCTAD) Expert Meeting that will take place from the 29th to the 30th of September. Over 80 per cent of world trade volume is carried by sea. International shipping and ports provide crucial linkages in global supply-chains and are essential for the ability of all countries, including those that are landlocked, to access global markets. Given ports’ strategic role as part of the international trading system…
EPA Strengthens Haz Waste Shipment Regs
The U.S. Environmental Protection Agency is strengthening the regulations that govern the shipping of hazardous waste for recycling between the United States and other countries. The new measures are meant to increase the level of regulatory oversight, provide stricter controls, and greater transparency. The final rule announced today aligns EPA’s hazardous waste import/export/transit shipment regulations with the procedures of the Organization for Economic Cooperation and Development (OECD), an international consortium that comprises 30 countries including the United States. EPA’s new measures bolster regulations regarding hazardous…
Column: Recycling of Ships
As of July 1, 2003, there were approximately 29,000 commercial self-propelled ocean-going ships worldwide in excess of 1,000 gross tons each. Of these, just over 400 are U.S. flag. In addition, there are approximately 3,000 U.S. barges of over 1,000 gross tons each. Approximately 25% of these ships and barges are more than 20 years old and will be taken out of service in the near future. The vast majority of the ships and barges taken out of service will be recycled (scrapped). Exactly when a ship is taken out of service is dependent upon a variety of factors, the most important being its maintenance costs and its current charter rate. Thus, the number of ships being offered for recycling can and does gyrate widely over time.
Balancing Security, Safety and Commerce
By Thomas H. Collins, Admiral, U.S. By any measure, 2003 was a turning point in the 213-year history of the U.S. Coast Guard. Beginning with the introduction of a new Maritime Strategy for Homeland Security early in the new year and continuing with its realignment under the Department of Homeland Security in March as part of the largest reorganization of the federal government since the post-World War II era, the scope and scale of the Coast Guard's maritime, multi-mission, and military operations during the past year were nothing short of extraordinary. Coast Guard men and women rose to the challenge, bolstered by the largest mobilization of reservists in our history. Collectively, they fought the Global War on Terrorism at home as well as overseas.
OECD Working Group Discuss Port Security
The Maritime Administration (MARAD) announced its participation in the Ad-Hoc Working Group on Security for the Maritime Transportation Committee (MTC) at the Organization for Economic Cooperation and Development (OECD) in Paris. Government and industry leaders will be open and encourage an international dialogue on this important matter. “We must participate in these international forums because port security problems require international solutions. It is vital that we work with other countries and international agencies worldwide, as well as with all the modes within the Department of Transportation and other agencies in the U.S.
IEA To Hold Emergency Board Meeting
The International Energy Agency (IEA), plans to call an emergency meeting of its governing board on October 4 to discuss the global oil situation, an official said. The Paris-based IEA, which is responsible for coordinating joint measures to meet oil supply emergencies, was expected to shortly make an official announcement of the date, the official said. Japan and some other member countries had suggested a meeting to discuss measures to deal with crude's stubborn strength, which is threatening global economic growth, the official said. The IEA draws its membership from the Organization for Economic Cooperation and Development. Member countries are required to hold reserves equivalent to 90 days of imports.
GOVERNMENT: Terrorism Threat and the Immediate Reaction
by Dennis L. When the federal government began examining United States vulnerabilities in the days following the horrific terrorist attacks of September 11, 2001, it quickly became apparent that significant weakness existed on the U.S. maritime borders. Many, but not all, of these weaknesses were systemic and derived from both the U.S. open society and the procedures underlying modern maritime commerce. The goal quickly became to reduce the risk of maritime terrorism while not fundamentally altering the efficiencies of the commercial system. It was quickly realized that the threat to the maritime sector consisted of two distinct types: explosives and other contraband being shipped as cargo (particularly in a container) and the ship being used as a weapon…
OECD Releases Report on Security
The Organization for Economic Cooperation and Development (OECD) issued a report entitled - Security in Maritime Transport: Risk Factors and Economic Impacts
OECD Shipbuilding Countries Launch Capacity Negotiations
The world's principal shipbuilding economies have launched negotiations at the Organization for Economic Cooperation and Development (OECD) on ways to counter over-capacity and plunging prices in the ailing world shipbuilding industry. Current levels of over-capacity, estimated at around 15 percent, are largely the result of subsidies and other forms of government support measures that have allowed shipyards that would otherwise have gone bankrupt to continue to operate. The result has been to push new ship prices to artificially low levels, as many shipyards reduce their prices to below economic levels in order to attract the business needed to keep their workforces employed.
OECD Issues Report on Ownership and Control
The Maritime Transport Committee of the Organization for Economic Cooperation and Development (OECD) issued a report entitled Ownership and Control of Ships
IEA Raises Oil Demand Figures
An upwards revision to world oil demand means the West will need more oil from the OPEC cartel this year and next than previously thought, the International Energy Agency (IEA) said. IEA reported that the "call on OPEC oil" would be 400,000 barrels per day (bpd) greater this year than it previously forecast, at 27 million bpd. Next year the call on OPEC oil will be 300,000 bpd more than earlier estimates, although the absolute level is expected to sink to 26.8 million bpd in 2002 because of more production expected outside the cartel. The big revision paints a more bullish picture for global oil markets, particularly after OPEC's recent decision to slash output by one million barrels per day from September 1.
Analysts Say Oil Stockpiles Could Vanish By Late Fall
Excess oil industry stockpiles are likely to disappear entirely in October or November as winter demand overwhelms supply constrained by OPEC export curbs, analysts said. Inventory statistics, always key to the international oil market, have assumed an even greater significance over the past week as OPEC officials singled out the indicator as the leading factor for judging when to ease supply limits. Now, even the most cautious of analysts expect OPEC's target of shrinking stockpiles to pre-1998 levels to be achieved before the end of the year - at least three months before an agreement on output cuts expires. "With no schedule for another quota review before March 2000…
OECD Maritime Transport Committee Annual Report
The Organization for Economic Cooperation and Development (OECD) released the Maritime Transport Committee Annual Report 2002