Cyprus' coffers gained $1.14bn (EUR1.04bn) in 2018 from the ship management sector after a strong second half of the year. In the July - December half second half the revenue from the sector was $591m up from the $556m registered in the first six months.
The important place of the shipping industry and its participants in Greece’s overall economic picture as the country struggles to climb out of financial crisis was again evident when financial powerhouse PricewaterhouseCoopers (PwC) recently presented a study on mergers and acquisitions in Greece in 2018.
Marine fuel is too cheap for the environmental damage that it causes and sea transport does not reflect the true cost of bringing goods to market. These are the views of Euronav’s forthright ceo, Paddy Rodgers, who recently surprised the shipping community when he revealed his plans to step down later this year.
Shipping contribution to Greece’s coffers in the first nine months of the year have shown a significant recovery according to latest Bank of Greece (BoG) data.
The recovery in the global trade and growth in shipping volume has contributed to stellar results for container maker China International Marine Containers (CIMC), with sales and production more than doubling to RMB18.0bn ($2.7bn) from RMB7.8bn and 969,300 teu of dry containers from 419,000 teu respectively in the first nine months of the year compared to the previous corresponding period.
The meaning of ‘frictionless trade’ post-Brexit is very clear – and it isn’t 17-mile queues to Dover, MP Angus MacNeil told guests at a Maritime UK Parliamentary reception held during London International Shipping Week.
The value of the UK Maritime Sector has been reemphasised in a new report launched by Maritime UK for London International Shipping Week.
As the day the UK triggers Article 50 to start its departure from the European Union, this Wednesday, David Dingle, chairman of Maritime UK and also chair of Carnival UK will be hosting Chinese government officials and business leaders aboard Queen Mary 2 in Shanghai for a lunch to showcase the UK’s shipping capabilities.
Cyprus Transport Minister Marios Demetriades said that despite the financial crisis, shipping continued to be the steam engine of the world economy.