The major event of the week of course has been the election of Donald J Trump as the 45th President of the United States. The event has been surprising as most predictors had this event as the less favorable outcome (“The American Brexit”); also, given that most of the election campaign took place on personal and not on substantive debating terms, there is has been lots of head-scratching since Wednesday morning on what would happen next; the major consensus is that the new Administration is in general in favor of anti-globalization, re-shoring, and higher barriers for trade (tariffs, ‘currency manipulator’ and anti-dumping have been heard with come frequency), the consensus has been that trade and shipping stand to suffer in the next four years:
1. Shipping Industry Feels Shock Waves From Donald Trump Election (The Wall Street Journal, Logistics Report)
2. On trade and expectations, America and the world, The Piecemaker (The Economist)
3. While in the same week, the United Nations Conference on Trade and Development (UNCTAD) published some sobering thoughts on the maritime industry: Review of Maritime Transport 2016 (UNCTAD)
4. In the short term however, the dry bulk market has had a great week, especially for the capesize market on behalf of coal trades to China:
Dry Bulk FFA: Market Explodes as Atlantic Cargoes Offer Ample Support (FIS)
5. An interesting reading on China and ‘One Belt, One Road’ from the respected Week in China:
All at Sea (Week in China)
6. Another week, and another shipping bank wish ‘Bon voyage’ to the shipping industry: Bank of Ireland joins other banks in shipping loan wind down (Reuters)
7. while, another shipping bank is looking to raise more capital; one gets the picture, with the shipping banks: Shipping Bank DVB Prepares Capital Increase (Reuters, via the Maritime Executive)
8. The Singapore Exchange (SGX) has formally closed on the acquisition of the legendary Baltic Exchange, producer of the well-known Baltic Exchange Dry Bulk Index (BDI); the transaction is indicative of a changing world, where shipping cannot be considered a stand-alone industry any more, while at the same time it seems that the center of gravity has been shifting eastwards: Baltic Exchange Takeover Complete (The Maritime Executive)
9. For some interesting reading on how shipping has been evolving, an article from BBC and Remote Container Management (RCM) technology:
How do you keep bananas fresh as they cross the oceans?
10. And, for those who wish to take a minute and smell the roses, actually feel nostalgic about the past and the times past, an interesting piece on lighthouses in Ireland:
Keeping the Fire of Irish Lighthouses Alive (The New York Times)
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