The end of the escalating trade war between the world’s two super-powers, China and the United States, seems to be on the horizon as the two sides near a deal on ending the tit-for-tat tariffs on export and import of goods. Following a truce at the end of 2018 and the ensuing trade talks, the focus now is on the enforcement mechanism aimed at making sure the US and China meet their commitments allowing for the tensions to cool down. According to US Treasury Secretary Steven M

Senior United States Senator from Utah, Michael Lee, has introduced the Open America’s Water Act of 2019, a bill which would repeal the Jones Act and allow all qualified vessels to engage in domestic trade between U.S. ports. “Restricting trade between U.S. ports is a huge loss for American consumers and producers. It is long past time to repeal the Jones Act entirely so that Alaskans, Hawaiians, and Puerto Ricans aren’t forced to pay higher prices for imported goods—and so t

China and the United States have great potentials in energy cooperation, an International Energy Agency (IEA) economist said. The biggest increase of imports, both oil and gas, is coming from Asia, in particular China, Toril Bosoni, a senior oil market analyst with the IEA, told Xinhua at the CERAWeek by IHS Markit that kicked off on Monday in Houston in the U.S. state of Texas. “Even the Chinese economy is slowing, the oil demand is slowing because of the environmental polic

A Presidential Proclamation for steel mill articles under section 232 of the Trade Expansion Act of 1962, as amended (19 U.S.C 1862); Iron or steel products imported into the United States, country of origin, South Korea, effective for goods entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 eastern daylight time on May 1, 2018 is subject to absolute quota. The Trade may refer to quota bulletin (QB) 18-118 for details on South Korea absolu

Ever wondered how monster trucks are transported from one place to another? Well, it takes another type of a monster. Thirteen enormous haulage trucks were recently shipped on a heavy lift vessel owned by Singapore-based multipurpose operator AAL Shipping from Laem Chabang Port in Thailand to the Port of Nakhodka in southeast Russia. Intended for Siberian mining project, these truck units – each over fourteen meters in length, weighing 170 million tons – were transported on t

The United States and Canada are moving closer to phase out the use of heavy fuel oil (HFO) from vessels operating in the Arctic waters through a strategy to rid the region of the dirtiest marine fuel, according to the Clean Arctic Alliance. Namely, the countries are launching the first processes ever to identify sustainable shipping lanes throughout their connected Arctic waters, in collaboration with Northern and Indigenous partners. The US and Canada have also agreed to pr

Foreign Minister Mohammad Javad Zarif says Iran is interested in a massive project to build a canal across Nicaragua which will link the Pacific and Atlantic oceans. Zarif visited Nicaragua along with representatives of Iranian companies and discussed their possible involvement in the 50-billion-dollar project which is groomed to rival the Panama pathway. China’s HKND group is tasked with carrying out the megaproject, with the construction about to begin at the end of this ye

Keep calm and carry on. That very British of phrases was recently used several times in a IHS Maritime expert panel on the topic of Brexit and its effects on international trade and shipping. Brexit—the decision by Britons through popular vote to leave the European Union—was met with concern and disbelief by many observers around the world and had the effect of sending shockwaves through financial markets in the immediate aftermath. Most experts agree that the effects of the