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
Former INTERCARGO Chairman, Dr Spyros M Polemis, passes away
(Posted on 24/07/24)INTERCARGO, the association of dry bulk shipping companies, has released the following statement:&ldquo... Read more
Joint study of ammonia fuelled bulk carriers
(Posted on 22/07/24)ITOCHU Corporation, ClassNK, Nihon Shipyard Co., Ltd., and Maritime and Port Authority of Singapore (... Read more
WISTA UK celebrates 50 years of championing diversity and inclusion
(Posted on 22/07/24)The Women's International Shipping & Trading Association UK (WISTA UK) marked its 50th anniversary... Read more
Accidents on ships under scrutiny as InterManager submits statistics to IMO
(Posted on 16/07/24)Accidents onboard ships are not decreasing, according to latest accident statistics submitted to the... Read more
Solutions required for FuelEU Maritime rules compliance, says Columbia
(Posted on 16/07/24)Solutions must be in place to help ship owners with navigating the complex challenges of complying with... Read more
Boers committed to diversity with relocation of Filipino employees to Germany
(Posted on 16/07/24)Diversity and nurturing talent is high on the agenda for BCS Group – Boers Crew Services as it... Read more
INTERCARGO joins industry calls for IMO to amend flaws in CII
(Posted on 12/07/24)With discussions regarding the IMO’s (International Maritime Organization) Carbon Intensity Indicator... Read more
ICS Türkiye branch celebrates its inauguration in Istanbul
(Posted on 12/07/24)The Institute of Chartered Shipbrokers (ICS), the professional body for the commercial shipping industry... Read more
Columbia Group and Crowley forge strategic US alliance
(Posted on 12/07/24)Columbia Group and Crowley have signed a strategic cooperation agreement that broadens both companies... Read more
Inmarsat report advocates data sharing to address preventable incidents
(Posted on 04/07/24)The 2024 edition of The Future of Maritime Safety Report from Inmarsat Maritime, a Viasat company, reveals... Read more
