Global oil production grew 1.25 million barrels per day in May 2017 compared to the same period last year. US shale oil producers in particular contributed to the increase, notes IEA in its latest monthly report.
The Norwegian Shipowners' Association describes Trump's exit from the Paris Climate Accord as extremely bad news for shipping. Danish Shipping also eyes risks: This could be an excuse for opponents to work harder to halt IMO efforts, says the organisation.
The International Chamber of Shipping will call on the IMO to continue its work to curb shipping's CO2 footprint despite President Trump's decision to withdraw the US from 2015's Paris Climate Accord, Chairman Esben Poulsson tells ShippingWatch.
The US maritime laws, which exempt international container carriers from regular competition regulations, are outdated, according to several US legislators who are prepared to present a new bill in less than a month.
The Journal of Commerce reports that the CEOs of Maersk Line and other container carriers were recently handed subpoenas from US antitrust regulators during a meeting of the industry's closed forum the Box Club.
APM Terminals will invest USD 200 million in its terminal in Port Elizabeth on the US East Coast. The move will prepare the terminal for the ultra-large container vessels which are soon expected to call in the port.
Crew members from the affected countries could be denied rights to go onshore in the US following Donald Trump's entry ban. However, both Norden and Clipper have not experienced any difficulties at this point, they tell ShippingWatch.
The Federal Maritime Commission, which reviews and approves alliances in the container sector, now has a new acting chairman. The US President has appointed Republican Michael Khouri, who will replace Democrat Mario Cordero.
US investor Wilbur Ross emerged with criticism of China and support for US shipping regulations when presenting his vision for his new role as the US secretary of commerce. He also looks set to drop the reins on his companies so that he can accede to public office.
After several days of rumors, Donald Trump has now officially appointed Rex Tillerson, CEO in ExxonMobil, as his new Secretary of State. Several significant politicians from both major US parties have expressed concerns over the new top diplomat's close relationship to Vladimir Putin.
It is in violation of human rights when officers deployed on the stranded Hanjin vessels off the US coast are denied shore leave, says the International Transport Workers' Federation, ITF. The conditions for Hanjin's officers have triggered demonstration by port workers.
US authorities will now investigate why assets at the country's largest oil company, ExxonMobil, are apparently the only ones in the industry not to decrease in value, as well as how the company accounts for the impact of climate change.
Maersk's port company will invest USD 70 million in Port Elizabeth in New Jersey, which is part of the third-largest US port. The investment will be used to create a new berth to handle vessels of up to 13,000 teu.