Author: Yakup Can Sekmen

Ice, Ice Baby – Safety of Shipping Vessels on the Icy Seas

Since the beginning of transatlantic voyages, icebergs have threatened the safety of the vessels. However, it was only after the disastrous and tragic sinking of RMS Titanic on April 15, 1912, that the United States Coast Guard established the International Ice Patrol. As of Monday, there were about 450 icebergs near the Grand Banks of Newfoundland, up from about 37 a week earlier, which is 370 more than the season average, per the IIP in New London, Connecticut. A high density of icebergs in the North Atlantic shipping lanes forces vessels to take detours, adding up to 400 miles, and...

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Rising LNG Ship Traffic in the Mediterranean

Rising demand for natural gas from suppliers among Mediterranean countries, where pipelines are not a possible means of transportation, has led to an increase in Liquefied Natural Gas (LNG) traffic in the region’s waterways. The Mediterranean Sea is among the world’s busiest waterways. From container ships to bulk carriers, many vessels sail through these waters, steadily increasing the transit activity over time. Within the ten-year period between 2006 and 2016, transit activity in the Mediterranean Sea grew by 23%. A relatively small share of this growth came from LNG. However, due to the rapidly increasing demand of natural gas among...

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In 2017, Maersk Line Returns to Iran

As a result of the historic move to lift sanctions and restrictions on Iran in early 2016, ship lines have started to pursue reinstitution and expansion in the country. Iran is the second largest country in the Middle East, with a population of 80 million. It has the second largest gas reserve and the fourth largest oil reserve in the world. As of 2016, with an estimated GDP of 435 billion USD, expected growth of 5.8% to 6.7% in the next two years and gateway to a massive market of CIS countries of 400 million in population, Iran holds...

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Lessons Learned from Hanjin

A recent slowdown in global trade and depressed freight rates for cargo ships have pressured the finances of containership firms. In the wake of the bankruptcy of global containership operator Hanjin three months ago, international shipping firms have been speeding up consolidation efforts and increasingly looking to government support to avoid the same fate. The consolidation process began prior to Hanjin’s bankruptcy, as shipping companies saw cost cutting opportunities in pooling their resources. In April of this year, CMA CGM S.A, China Ocean Shipping Company (COSCO), Evergreen Marine Corp and Orient Overseas Container Line (OOCL) announced their decision to...

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Possible Trump Effect on Trade with China

As more and more governments adapt protectionism as their economic model at the era of slowdown in the international markets, global economy is being held to a test of endurance. Early hours of the Wednesday on 11/9/2016 marked in US history, one of the greatest tragedies for the US Constitution. Moreover, with the new barriers rising against free trade as WTO report tells that its members had put 2,100 new restrictions since 2008 and Britain’s exit from European Union, soon to be followed by US, as Trump administration’s promises to go head first into the global trend and the...

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