News in English
Dry bulk market : Capes Stood out
- Λεπτομέρειες
- Δημοσιεύτηκε στις Δευτέρα, 08 Μαΐου 2023 09:58
Iakovos (Jack) Archontakis
Commercial Manager TMC MARITIME CO.
Dr. Fotios-Evangelos Karlis
Maritime Executive and Consultant
The dry bulk cargo market continued with marginal losses, with a drop recorded in all sizes except for Capes, which showed a small increase compared to the previous week. In detail, Capes are up 4.75%, Kamsarmaxes -6.9%, Supramaxes -7.5% and Handies -3%, compared to the previous week.
Protectionism is bad for peace, trade and the environment
- Λεπτομέρειες
- Δημοσιεύτηκε στις Κυριακή, 07 Μαΐου 2023 17:33
The world is going through harsh times due to the international and geopolitical situation, which has become very volatile with the ongoing war between Russia and Ukraine, antagonism between the US and China, tensions in the Taiwan Strait and the rise of populist governments in several countries.
It is with some concern that we note the beginnings of what is becoming a protectionist tendency in many countries, primarily in the US, but also in Europe. This tendency is manifesting itself in a number of ways and is mainly the product of the geopolitical turmoil which has characterised the last couple of years, triggering an escalation of all sorts of sanctions between nations as a tool of neo-protectionist policies.
Whether they are economic, commercial or of another kind, sanctions taken by one country against another inevitably result in the latter taking retaliatory measures, thus triggering a vicious and dangerous circle. While technological transfer can be rightly restricted for national security reasons, sometimes the real motivation behind such measures may be different. For example, the US has recently restricted semi-conductor transfers to China and some European countries have followed suit.
While the official reason might be military, those who espouse protectionist ideas are happy with the precedent set because semi-conductors, sometimes known simply as ‘chips’, are an integral part of many production processes. There are those who believe that slowing the transfer of technology will help protect traditional industries from outside competition and that the penetration of foreign products should be limited or at least slowed down.
Others are fans of “re-shoring”, which consists of bringing production closer to home, or “friend-shoring”, i.e. locating production in allied countries. But can the world thrive under protectionist policies? “To believe that we can go back to a world where you just do everything by yourself, for yourself, in the geographical location that you’re in… that is not how sophisticated industry works,” Mercedes-Benz chief Ola Källenius, recently told the British newspaper The Financial Times.
Building just one Mercedes car involves manufacturing on “literally all five continents,” he said. Protectionism is, in fact, the antithesis of free and fair trade, and ultimately reduces wealth and increases poverty. Protectionists have consistently been shown to be on the wrong side of History. In the case of the automotive industry, politicians should instead be helping industrialists prepare for the energy transition, meaning an expanded electric car market. Rather than closing doors to new technology, nations should be encouraged to compete with emerging players such as China and South Korea.
Free trade and openness to new technology is also, it should be underlined, the right answer to our environmental challenges. This is again the case of the automotive industry, where attempts to slow the pace of the transition towards electric vehicles will also put a brake on the energy transition and the establishment of the low- and zero-carbon community for which we are all striving. Since the end of WWII, free trade has helped the world prosper and reduced the risk of armed conflicts. In the case of Europe, strong commercial relations between nations have allowed the continent to experience the longest period of peace ever. Restoring free trade should be a must for politicians as it will be a prelude to prosperity among nations and will ultimately open the way to that much-desired peace. Elsewhere in this edition of G-News, you can read about our new “G5” vessel class, our investments in new and existing terminal assets, our participation in the LETExpo fair, the latest awards presented to our sister companies and our support for the people affected by the recent earthquake in Turkey and Syria. Enjoy the issue!
African leaders urged to harness seafarer green skills momentum
- Λεπτομέρειες
- Δημοσιεύτηκε στις Σάββατο, 06 Μαΐου 2023 11:35
As the maritime industry transitions to a low and zero-carbon future, African policymakers are being advised to implement training infrastructure as quickly as possible to maximize ‘high-quality’ employment opportunities for African workers and facilitate the continent’s green transition.
CELESTYAL honoured with four awards at the 10th anniversary of the Greek tourism awards
- Λεπτομέρειες
- Δημοσιεύτηκε στις Παρασκευή, 05 Μαΐου 2023 14:25
Celestyal, the award-winning number one choice for travelers to the Greek Islands and the Eastern Mediterranean, was honored for the 10th consecutive year at the Tourism Awards 2023, a prestigious event that pays tribute to the key players within the Greek hospitality and tourism industries.
PPA S.A.: Dynamic presence at this year’s Delphi Economic Forum
- Λεπτομέρειες
- Δημοσιεύτηκε στις Παρασκευή, 05 Μαΐου 2023 10:20
PPA S.A. participated at the Delphi Economic Forum that gathered as every year top leaders and executives of the political and business world, the economy and the country’s civil society.
Economists still warn about a global economic recession
- Λεπτομέρειες
- Δημοσιεύτηκε στις Τρίτη, 02 Μαΐου 2023 22:06
Economists still warn about a global economic recession, but economic figures show that the global economy still resists, despite the inflationary wave that swept many countries.
PPA S.A.: Active participation at the 7th Posidonia Sea Tourism Forum
- Λεπτομέρειες
- Δημοσιεύτηκε στις Πέμπτη, 27 Απριλίου 2023 13:00
PPA S.A. participated at the 7th Posidonia Sea Tourism Forum taken place at the city of Thessaloniki on 25-26 April 2023 with this year’s main theme being “The Return to Growth: Challenges ahead for Cruise Lines & Destinations”.
