Singapore's economy dropped a record 41.2 percent in the second quarter compared to the first three months of the year, reveals a preliminary assessment of the country's gross domestic product (gdp) for April, May and June, published by its Ministry of Trade and Industry Tuesday.
Shutdowns due to the virus pandemic have eroded economic activity in the city-state. Gdp is 12.6 percent lower than for the second quarter last year.
Already a subscriber? Log in.
Read the whole article
Get 14 days free access.
No credit card required.
- Access all locked articles
- Receive our daily newsletters
- Access our app
Get full access for you and your coworkers.
Start a free company trial todayMore from ShippingWatch
Mega profits fan criticism of container lines' favorable competition rules
Container carriers lament their poor service and explain their mega rates by referring to the demand prompted by the Covid-19 pandemic. However, the chairman of analyst firm MDS Transmodal says this explanation doesn't necessarily hold water.
Defense in Dan-Bunkering case targets acquittal and criticizes DKK 400 million fine demand
Bunker Holding, Dan-Bunkering and the CEO of Bunker Holding should be acquitted. The prosecution hasn't presented sufficient evidence, said defense attorneys during the proceedings.
CMA CGM is alone among European carriers with discount scheme for US ports
Maersk and Hapag-Lloyd have no current plans to go down the same road as CMA CGM, which has just implemented a discount scheme for importers at the major terminals in Los Angeles and Long Beach to address the problem of bottlenecks.
Tanker carriers are slowly coming in from the cold
The weak oil market is recovering, but many newbuilds and too little scrapping could delay the upswing for tanker operators, assesses Danish Ship Finance in a new analysis.
Alphaliner: HMM set to go private in 2022
The South Korean state is reportedly prepared to divest container line HMM after having rescued the company from bankruptcy in 2016. According to Alphaliner, South Korea's central administration has confirmed a plan to privatize the carrier in 2022.
Senior Charterer 
Sales Director 
Head of Operations for B-Gas A/S in Copenhagen 
Software Project Lead 
Dedicated maritime political consultant for Lederne Søfart