ics-watchlist-logoEvery month or so we will be publishing a list on this site of pertinent news or changes in the shipping environment. News that we should all take an interest in.

There are many outlets available on the web covering shipping news, some of which are listed on our Resources Page. Otherwise simply “Google it” for more information.

Those of you taking the exams in November would be wise to watch these developments, particularly those taking Economics. Your examiners always like to see topical examples in your answers - provided they are relevent.

 

What’s happening in China?

The Yuan Devalues.

Steel exports have increased considerably due to a decrease in domestic demand. Consequently many countries are now reviewing their import tariffs and accusing China of “dumping”.

Chines iron ore imports are down and as a result the price of iron ore is at a 6 year low.

Cosco and The China Shipping group are looking at a merger which would ultimately make the new company the largest shipowner/operator in the world.

The Canals

Oops - the new Panama locks appear to have sprung a leak – not good news and deadlines, and thus contracts, may be seriously affected.

The Suez Canal extension, on the other hand seems to be running smoothly.

Oil

The oil price is approaching USD 40 a barrel. Good news for some bad for others.

The Yemen

The Saudis and the Houthi rebels are still going at it hammer and tongs and the port of Hodeidah is still held by the rebels.

When is a trespasser a stowaway in South Africa?

Read Gard’s report under our news section

 

 

 

Those of you taking the exams in November would be wise to watch these developments, particularly those taking Economics. Your examiners always like to see topical examples in your answers - provided they are relevent.

 

Greece

On October 28th Greece said "Oxi" (No) to Mussolini and gave the Italian invasion force a black eye. They have been celebrating OXI Day ever since.

It remains to be seen whether Sunday July 5th's defiance will be as successful, but it certainly makes life interesting.

Will the Eurozone falter?

Will Limassol become the new Piraeus?

The oil price has already taken another knock as a result - will this trend continue?

Are the Chinese really going to take a major shareholding in the port of Piraeus?

It has all the makings of a major "Soapie", but it's far, far, more serious.

Watch this space!

The Oil Price

Good news for some - bunker prices are still relatively low and tankers rates are still up. Unfortunately this hasn't helped the dry bulk sector much,

there was a slight improvement last week but rates  are still in the Doldrums.

Dredging in Durban

Some P and I clubs are warning about the possibility of a sand bar developing within the port. What's happening?