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India Covid-19 crisis could seriously damage global economy RT.com 11 May 2021, 20:13 GMT+10 India's latest upsurge in coronavirus cases, along with its highest daily toll of Covid-19-linked deaths, is expected not only to hamper its economic recovery but also to drag down several sectors vital for the world's economy. Rising infections are forcing the country to impose stricter lockdowns, which could have a dramatic impact on several industries, including financial services, global shipping, clothing, pharmaceuticals and many others. The situation may create a big "shortage of seafarers" as ...

AS negotiations to set the global minimum wage for seafarers drew to a conclusion, the shipowners made a shocking suggestion.  This is the moment, they announced, to disregard the International Labour Organisation (ILO) mechanism and cut the real value of the ILO minimum wage, currently set at $21.36 (£15.35) a day. At almost the same time, AP Moller-Maersk, the container shipping giant that carries approximately one-fifth of global exports, issued a dramatic update of its own.  The company predicted that its earnings this year would be $9 to $11 billion, nearly double previous estimates. ...

By Jaclyn Jaeger2021-04-27T15:25:00+01:00 A month has gone by since the Ever Given—the 1,300-foot cargo ship that ran aground and blocked for nearly a week one of the busiest waterways in the world—was freed. But for many industries, the ripple effects will continue to batter global supply chains for weeks to come, absent having in place a sound supply chain risk management program. On March 23, the Ever Given became horizontally wedged in Egypt’s Suez Canal before being dislodged six days later. According to tracking data from Lloyd’s List Intelligence, 372 vessels were stalled waiti...

By Jaclyn Jaeger2021-04-27T15:25:00+01:00 A month has gone by since the Ever Given—the 1,300-foot cargo ship that ran aground and blocked for nearly a week one of the busiest waterways in the world—was freed. But for many industries, the ripple effects will continue to batter global supply chains for weeks to come, absent having in place a sound supply chain risk management program. On March 23, the Ever Given became horizontally wedged in Egypt’s Suez Canal before being dislodged six days later. According to tracking data from Lloyd’s List Intelligence, 372 vessels were stalled waiti...

Climate change: Shipping industry calls for new global carbon tax The global shipping industry is calling on the world’s governments to tax its carbon emissions. Groups that represent more than 90% of the global fleet say the measure is needed to tackle climate change. “A global solution is the only one that’s going to work”, Guy Platten, secretary-general of the International Chamber of Shipping told the BBC. The tax would incentivise ship owners to invest in new technology, he said. The shipping sector is one of the big carbon emitters, and is responsible for more than 2% of global ...