The urgency of finding solutions to the climate change problem is growing as a top priority for both domestic and international policymakers. Around a quarter of the world’s greenhouse gas (GHG) emissions are linked to international trade, according to the most recent estimates.
Tidewater has become the largest operator of offshore vessels through the completion of the previously announced acquisition of Swire Pacific Offshore. The company confirmed that it completed the acquisition on April 22 saying that it will position Tidewater to capitalize on the recovery of the offshore vessel market.
The Global Risks Report 2022, published by the World Economic Forum in collaboration with Marsh McLennan, examines how global divergence across multiple domains in the post-COVID-19 recovery threatens to widen disparities and aggravate societal fractures.
Drewry analysis of carrier profits and freight rates reinforces the view that the elevated profits of ocean carriers are the result of higher freight rates – not higher business volumes, additional services or lower costs. For example, neither Maersk nor Hapag-Lloyd carried more containers in the latest quarter than in the same quarter of 2020.
This chart shows how China will soar past the U.S. to become the world’s largest economy by 2030
Meanwhile, the total GDP of the global economy is predicted to double between 2022 and 2035.
Nearly all world industries rely heavily on maritime shipping. Former Secretary-General of the United Nations Ban Ki‑moon once quipped, “Maritime transport is the backbone of global trade and the global economy.” Maritime shipping is also considered one of the safest and most environmentally-friendly modes of goods transportation.
Fast rising inflation, ongoing supply chain bottlenecks and the Omicron Covid-19 variant are conspiring to slow the pace of growth in container handling, forcing Drewry to lower its outlook for world port throughput in 2022 to 4.6% in the latest Container Forecaster, from 5.2% in the previous edition.
DNV is forecasting a peak season for global Ballast Water Treatment System (BWTS) installations, and the industry should get prepared for a busy 2022. This statutory news contains some timely reminders to ensure compliance with the Ballast Water Management (BWM) Convention.
The 32nd session of the IMO Assembly (A 32), the highest governing body of the IMO, was held remotely from 6 to 15 December 2021. The Assembly elected 40 member states for the Council for the next biennium, added the human element as a new strategic direction for the IMO, and adopted updated port state guidelines and harmonized survey guidelines.
The insightful whitepaper is based on data factoring 866,000 inspections, 26,000 detentions, 22,000 casualty incidents, and 1,000 losses reviewed over a 10-year period, providing a comprehensive picture on the status quo of safety in maritime.