Abu Dhabi Ports is aiming to drive forward its nationalisation programme this year, with a goal of achieving 55% ‘Emiratisation’ by the end of 2017. 

Mediterranean Shipping Company (MSC) has started the year with an extension to its services, providing a direct call at Hamad Port in Doha, Qatar. 

The great and the good of the UAE shipping industry came together in Abu Dhabi at the fourth UAE Summit of Marine and Maritime Leaders this week with the subject of finance and the availability of funding dominating much of the proceedings. 

 

Taiwan has unveiled a TWD560bn ($17.6bn) relief package to help the country’s ailing shipping sector struggling with financial difficulties, the local media reported.

In a stunning upset, Donald Trump defeated Hillary Clinton in the just finished US elections. The new administration will take office in January 2017, Seatrade Maritime News New York correspondent Barry Parker gives his take on the impact on shipping.

While there remain a lot of macroeconomic “issues and challenges”, the global economy “is not as bad as feared at the beginning of the year,” said Tim Fox, head of research and chief economist at Emirates NBD bank, addressing the opening Economic Forum conference session at the Seatrade Maritime Middle East event in Dubai this week.

The cost of restructuring the debts of South Korea’s shipping and shipbuilding industries is estimated to be at a staggering KRW31trn ($27.3bn), according to a recent report by the International Monetary Fund (IMF).

Shipping groups – Bimco, ICS, Intercargo, Intertanko and World Shipping Council – have called on the IMO to adopt a global carbon dioxide (CO2) data collection system for international shipping.

Various celebrations took place in different countries on Thursday to mark World Maritime Day 2016 and its theme this year of “Shipping: indispensable to the world”.

Chinese financial institutions are seeing increased interest from shipowners over the past few years during the time when traditional lending sources from banks have shrunk due to the shipping crisis.

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