Skip to Content


Simpson: New arms trade treaty will change the way Canada does business

The new international Arms Trade Treaty (ATT) requires Canada to amend its export regulations and report all sales, including to unsavoury regimes.


0 0 Continue Reading →

ECSA supports the updated ship recycling list | Brazil Modal

With the 4th version of the list, the European Commission and the Member States add 6 new facilities to the list. These include, for the first time, 3 facilities which are located outside the EU -2 in Turkey and 1 in the United States-.

 The European Shipowners[1] are fully supporting the expansion of the EU list, and in particular the inclusion of compliant facilities worldwide. From 31st December 2018, the EU Ship Recycling Regulation requires all large sea-going vessels sailing under an EU Member State flag to use an approved ship recycling facility included in the European List.

“However more work is on the table” says ECSA’s Secretary General, Mr Martin Dorsman. “Also in the past, European ships could go for recycling to other OECD States such as Turkey[2]. It means that so far not that much has changed in practice for the EU flagged fleet. This while the European Ship Recycling Regulation was already published back in 2013 and many of the 24 non-EU facilities have sent in their application more than 2 years ago. “With the European regulation entering into force at the end of this month, this is hard for our industry to understand” he adds. “We therefore call on the EU Commission and Member States to step up and to include many more compliant non-EU ship recycling facilities, as our ships also operate on the global level”.

“We plea the EU legislators to become true facilitators for the upgrading of sub-standard ship recycling practices worldwide” says Martin Dorsman. Some EU flagged ships do not even enter European ports throughout their life-time, because they are too big or because they are trading elsewhere in the world, where there is a demand for a certain type of vessel and/or trade. A successful regulation will have to provide for compliant facilities worldwide. Only then it may drive change on the ground and facilitate the entry into force of a global regime, the Hong Kong Convention.

“But we do acknowledge that in the past few months things are moving”. All the applications are being thoroughly reviewed and site inspections are finally being conducted, also in South Asia, to check their credentials. “The EU list is a living document and we look forward to see it being expanded even more in the very near future” Mr. Dorsman concludes.


[1] European ship owners own around 40% of the world fleet

[2] Under the provisions of the EU Waste Shipment Regulation, the EU implementation of the Basel Convention


Source: ECSA


0 0 Continue Reading →

These stocks will rise on successful US-China trade talks

Several key market sectors would get a boost if trade talks between the United States and China proceed without a hitch, CNBC’s Jim Cramer said Wednesday as stocks rallied on renewed hope for a deal between the countries.

The Dow Jones Industrial Average climbed more than 458 points intraday after a Wall Street Journal report said China was working to foster better access to foreign companies in an effort to improve relations with the United States. All of the major averages closed modestly higher, but well off their midday highs.

“Why did almost every stock fly up on the news today, even though they gave up some of the gains in the afternoon? Because without a trade war, our whole stock market is actually worth more, hence why so many buyers went for the S&P 500,” Cramer explained. “This is a market where everything goes up on one day, and then tomorrow, we’re going to get more selective.”

The “Mad Money” host expected a couple of stock groups to benefit from improved trade talks on Thursday, beginning with the technology space.

In recent months, any downturn in trade talks led to Wall Street turning negative on the tech cohort as investors grew concerned about the prospects for the underlying companies, many of which do a good deal of business in China.

But “barring any contradictory riposte from either government,” companies that make the equipment that produces semiconductor chips, namely Lam Research and Applied Materials, “could get a boost” on Thursday, Cramer said. Faster-growing chipmakers Advanced Micro Devices, Broadcom and Xilinx could also trade higher, he noted.

U.S. retailers have also found themselves in the crosshairs of the trade dispute. Many retail companies source at least some of their products and materials in China, so as disagreements between the two countries flared, some began to move their manufacturing operations out of China.

“I like the prospects of the companies that are frantically trying to move away from Chinese suppliers, even as it’s causing some quality issues along the way,” Cramer said, highlighting furniture maker RH, formerly known as Restoration Hardware.

“The dollar stores source a lot of cheap merchandise from China. They work, too,” the “Mad Money” host continued, naming Dollar Tree and Dollar General. “Same goes for the department stores that have a decent percentage of Chinese goods, like Kohl’s.”

And if China’s government is being truthful in its intentions to pave the way for foreign companies to access its markets, then shares of credit card giants Visa, Mastercard and American Express could rise “on the possibility that they might be able to do business” there, Cramer said.

“The bottom line? The market deserved to roar today off the Chinese news, even if their government may not be trustworthy,” he concluded. “But if the Chinese do blink on trade, … we enter a positive, more benign atmosphere where traders don’t mind owning stocks after 4 p.m.”


0 0 Continue Reading →

Vopak Expands Share in Pakistan’s LNG Terminal | Brazil Modal

Illustration; Image Courtesy: LNG Carriers/ Flickr-Kees Torn under CC BY-SA 2.0 license


This includes the acquisition of a 29% share announced in July 2018 when Vopak bought the stake in ETPL from Engro Corporation.

ETPL’s wholly owned subsidiary, Engro Elengy Terminal (Pvt) Ltd (EETPL) owns an LNG facility which is located in Port Qasim in Pakistan, adjacent to the Engro Vopak chemical terminal on the mainland side of the channel into Port Qasim. The facility has been in operation since 2015 and is the first LNG import facility in Pakistan.

The facility consists of an LNG jetty including a 7.5 km high pressure gas pipeline. This pipeline is connected to the grid of EETPL’s sole customer Sui Southern Gas Company, a Pakistan government-owned entity. EETPL holds a 15-year floating storage and regasification unit (FSRU) time charter.

The liquefied gas is supplied, under long-term contracts, via LNG carriers from various exporting countries to the FSRU, which is moored to the EETPL jetty and connected to its pipeline. The regasification takes place on the FSRU and the gas is transferred to the mainland.

Following the completion of the transaction, the shareholders in ETPL will be Engro Corporation and Royal Vopak.

As informed, the acquisition is subject to certain conditions and closing is anticipated to take place in the first quarter of 2019. The first transaction is still planned to be completed in the fourth quarter of 2018.


0 0 Continue Reading →

Andrew Coyne: No trade deal is worth letting down our guard on China

Much subsequent coverage of the story has focused on the economic angle. Huawei is one of the world's largest technology companies, and a key …


0 0 Continue Reading →

Thailand Welcomes Its Largest Boxship to Date | Brazil Modal

Image Courtesy: Hutchison Ports Thailand


With a total gross tonnage of 145,647 tons, ONE Columba features a length of 364 meters and a width of 51 meters. The newbuilding was delivered to ONE by Kure Shipyard in Japan earlier this month.

As informed, this is the first time a container vessel of this size has berthed in Thailand.

On this occasion, Hutchison Ports Thailand deployed new remote-controlled quay cranes to handle 2,269 containers loaded to the vessel.

Terminal D is the first terminal in Thailand to handle some of the largest ocean-going container vessels. Once completed, the new Terminal D will have a total quay length of 1,700 meters, with 17 Super Post-Panamax quay cranes and 43 electric rubber-tyred gantry cranes all using remote control technology.

The terminal is expected to facilitate the growth of container volumes at Laem Chabang Port, adding a further 3.5 million TEUs of capacity.


0 0 Continue Reading →

China's Yuan Policy Is a Bad Kabuki Play

Nevertheless, the currency may be the most accurate barometer of trade relations between China and the U.S. this year. Watching its movements can …


0 0 Continue Reading →

Skangas to Be Renamed Gasum | Brazil Modal

Image Courtesy: Skangas


In October, Gasum became the sole shareholder of Skangas by increasing its stake in the LNG company from 70% to 100%.

The acquisition is part of the Gasum strategy whose core element is to develop the Nordic gas market and the LNG infrastructure.

Following the integration process, Skangas will be renamed Gasum by December 3, 2018. As explained, all Skangas companies will be renamed Gasum.

The name change will take place in Norway, Sweden and Finland, subsequent to each country registry offices’ approval.


0 0 Continue Reading →

Boas Festas!

0 0 Continue Reading →

In state-of-trade speech, Azevêdo cites USMCA, Trump-Xi ceasefire as signs of progress

World Trade Organization Director-General Roberto Azevêdo on Wednesday pointed to the signing of the U.S.-Mexico-Canada Agreement and a …


0 0 Continue Reading →