News on Europe.
The British Parliament emphatically rejected Theresa May's Brexit deal. With the UK due to leave the EU in 10 weeks, there is growing alarm that the impasse will not end in time to avoid the potential economic disaster that would be a no-deal exit.
Large national Chinese companies have bought more shares in European ports over the past ten years and now own capacity corresponding to 10 percent of all European container capacity, according to a review from OECD.
Orders for European shipbuilders increased more than 45 percent in the first eight months of 2016, while Asian yards are hit hard by the lowest number of newbuilding orders in 20 years, notes Bimco.
While the Chinese ports noted growth in the second quarter of 2016, ports in Europe, South Korea, and the US were hit with setbacks, according to Shanghai International Shipping Institute, which lists the ten largest ports in the world.
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