Port of StocktonTOC EventsTelestackSailors SocietyCleveland Cascades LtdBühler GmbH
  • Sailors Society
  • Port of Stockton
  • Cimbria
  • Cleveland Cascades Ltd
  • TOC Events
  • Vigan

ICS Chairman’s trade threat concern

(Posted on 15/11/18)

Speaking in Tokyo on behalf of the global trade association for shipowners, the International Chamber of Shipping (ICS), its Chairman, Esben Poulsson, highlighted serious concerns about the challenge presented by the United States ‘to the proven benefits of multilateralism and the existing global trading order underpinned by a system of international rules and norms which has brought peace and prosperity since World War Two’.
 
‘The view that international trade can be seen as some kind of zero sum game is demonstrably false’ said Mr Poulsson.
 
Mr Poulsson acknowledged that the U.S. has legitimate concerns about the policies of some of its trading partners, concerns which to some extent ICS also shares, particularly with regard to China and South Korea’s possible contribution towards overcapacity in shipping.
 
‘But ICS genuinely believes that these are issues which can best be resolved through continued co-operation and dialogue, working through those international institutions which the U.S and others have successfully helped to establish and of which governments such as China and South Korea are generally supportive, acknowledging the authority and jurisdiction of these global institutions.’ 
 
‘In particular’ he said ‘this includes the World Trade Organization. We note that of more than 100 trade complaints which the U.S. has so far brought to the WTO for adjudication – more cases than put forward by any other country – the United States has won over 90% of these.’
 
Mr Poulsson said it was easy to overlook that demand for maritime transport had actually increased by around 30% since 2008, with the annual volume of cargo carried by sea now exceeding 10 billion tonnes.
‘Sluggish growth in many OECD economies has largely been compensated by the impressive growth in demand for shipping from China and other emerging economies which now account for over 50% of global shipping demand.’
 
Mr Poulsson said ‘The influence of the shipping industry on the geopolitical and trade policies which governments might decide to pursue is in reality somewhat limited. But as the servant of world trade, I do think our great industry has a duty to explain the negative implications of policies that may seriously damage long term economic development.’

Latest News

ClassNK certifies NAPA Fleet Intelligence and Performance Monitoring and Optimization

(Posted on 25/05/22)

Leading Classification Society ClassNK has certified NAPA Fleet Intelligence and NAPA Performance Monitoring... Read more


Idwal report feature enables further insight for owners and financiers

(Posted on 25/05/22)

Idwal has announced that all inspection reports will now also include a data comparison feature that... Read more


IOMSR expands Greek fleet with four bulk carriers

(Posted on 18/05/22)

The Isle of Man Ship Registry is expanding its Greek fleet with an agreement to flag four bulk carriers... Read more


Women climbing the maritime career ladder, but more can be done

(Posted on 18/05/22)

Women are advancing up the Caribbean maritime career-ladder into senior positions – although more... Read more


ClassNK releases PrimeShip-HULL 2022 for new structural rules

(Posted on 12/05/22)

Leading classification society ClassNK has released its design support system “PrimeShip-HULL... Read more


International segments drive solid Algoma performance

(Posted on 05/05/22)

Algoma Central Corporation has reported its results for the three months ended March 31, 2022. Revenues... Read more


Report highlights INTERCARGO members’ commitment to quality

(Posted on 05/05/22)

The International Association of Dry Cargo Shipowners (INTERCARGO) has launched the thirteenth edition... Read more


ClassNK issues AiP for ammonia-ready LNG-fuelled bulk carrier

(Posted on 27/04/22)

Leading Classification Society ClassNK has issued an Approval in Principle (AiP) for the design of an... Read more


Inmarsat combats rising maritime cybercrime with fleet secure UTM

(Posted on 27/04/22)

Inmarsat, the world leader in global, mobile satellite communications, has launched Fleet Secure Unified... Read more


Bulk shipping offering between UAE and Bangladesh

(Posted on 20/04/22)

AD Ports Group has announced that its feeder service, SAFEEN Feeders, has signed a long-term trade facilitation... Read more


ViganTBA GroupCimbriaVan AalstThe Wolfson Centre for Bulk Solids Handling Technology Multimodal 2022
  • Van Aalst
  • Multimodal 2022
  • The Wolfson Centre for Bulk Solids Handling Technology

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping