One is tempted sometimes to think of 21st Century China as a machine for generating wealth and perpetuating the rule of the Chinese Communist Party while propagating “socialism with Chinese characteristics” or if you prefer, social controls. This is not to say that the Chinese don’t appreciate the utility of a market economy. But one could say that reform in China has led only to a reversion to the historical norm. The Mandate of Heaven applies equally to the CCP as it once d

The seafarer crisis continues to develop. Hugo de Stoop, CEO of Euronav, has described stranded seafarers as “hostages of the situation.” There is common purpose among the ship owners, managers, crewing agents, the IMO and governments – but with a few important exceptions, most countries will apparently not yet allow crews to disembark to transfer home via air services. The ITF, the International Chamber of Shipping and the Joint Negotiating Group representing ship owners ha

The United Nations Conference on Trade and Development (UNCTAD) and International Maritime Organization (IMO) issued an estimate on June 10, 2020 that 300,000 seafarers need international flights every month either to return home or to join ship. Meanwhile, according to UNCTAD, around 70,000 cruse ship staff have been unable to get home. UNCTAD estimates that two million seafarers are engaged in maritime transport. The problem is well known. Most seafarers have to travel to a

On Monday, Qatar Petroleum reported a 100-berth, USD 19 Bn deal to build LNG carriers in South Korea. The moribund newbuilding markets took a step change upwards. I got thinking about the shipbuilding market's long-term trends. The big question for ship owners considering a newbuilding order is, what shall we build? This is not as easy to answer as you may think. Discussions over newbuilding specifications are inevitably tied together with wider environmental and regulatory