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1 day ago | splash247.com | Sam Chambers

The 90-day tariff ceasefire between the world’s top two economies could see covid era surges in shipments and box freight rates, one leading analyst has suggested. The US and China have agreed to slash reciprocal tariffs by 115% for the next 90 days. Now the US tariff on China is at 30%, whilst the Chinese tariff on the US has been set at 10%.

2 days ago | splash247.com | Sam Chambers

South Korean shipbuilding major Hanwha Ocean is putting some distance between itself and China, a nation very much in the crosshairs of the Donald Trump administration in the US. Hanwha Ocean, formerly known as Daewoo Shipbuilding & Marine Engineering, has announced it will dissolve an offshore joint venture its recently acquired Singapore yard, Dyna-Mac, operates with China Merchants. The DM-CMHI Heavy Industry (Jiangsu) joint venture was established as an offshore-focused yard five years ago.

2 days ago | splash247.com | Sam Chambers

CMA CGM head Rodolphe Saadé’s sprawling media empire has another marquee brand. Merit France, Saadé’s family holding, has taken a 20% stake in French cinema giant Pathé for an undisclosed sum. “Welcoming the Saadé family as a partner will accelerate the growth and modernisation of Pathé. It will also allow us to continue working with the talent we value and to attract those who share our ambitions and aim for international success,” said Jerome Seydoux, Pathé’s owner.

2 days ago | splash247.com | Sam Chambers

Three days on from grounding off Jeddah, Saudi Arabia, the 7,000 teu MSC Antonia remains stuck in the Red Sea, with vessel tracking showing the ship was likely the victim of GPS jamming. Analysis from Windward, a maritime analytics firm, has highlighted the spoofing pattens that ended up with the ship aground near the Eliza Shoals west of Jeddah with vessel tracking from MarineTraffic supporting this theory. GPS jamming in the Red Sea has been commonplace in recent years.

2 days ago | splash247.com | Sam Chambers

Tariffs, increasing stem sizes and changing trade patterns formed much of the debate at the Minor Bulks session at this year’s packed Geneva Dry summit. Wlillem Vermaat, shipping director at Heidelberg Materials Trading, the second largest cement producer globally, noted that commodity trade flows tend to adjust to market changes. For example, US cement imports shifted from Canada and Mexico to Vietnam and Turkey when borders were closed.