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
Wallem Group reaches a century in Hong Kong
(Posted on 04/11/25)Wallem Group, a leading global maritime partner, is celebrating the centenary of moving its headquarters... Read more
INTERCARGO celebrates record membership ahead of 45th Anniversary
(Posted on 04/11/25)The International Association of Dry Cargo Shipowners (INTERCARGO) is marking its 45th anniversary in... Read more
NORDEN reports net profit of US$26m in Q3 2025
(Posted on 04/11/25)Net profit for the Group amounted to USD 26 million (DKK 166 million) in the third quarter of 2025,... Read more
ClassNK releases 'Guidelines for Onboard CO2 Capture and Storage Systems (Edition 2.0)'
(Posted on 04/11/25)ClassNK has released 'Guidelines for Onboard CO2 Capture and Storage Systems (Edition 2.0)' first in... Read more
InterManager urges Seafarer participation in Enclosed-Space Safety Survey
(Posted on 27/10/25)Following the International Maritime Organisation’s (IMO’s) newly tightened rules on enclosed... Read more
DNV: Nuclear propulsion is viable solution for maritime decarbonisation
(Posted on 27/10/25)According to a new paper by DNV, shifting environmental requirements are reigniting interest in nuclear... Read more
MoU on cooperation Between Zhejiang Seaport and Columbia
(Posted on 24/10/25)Zhejiang Seaport Group and Columbia Group Limited have signed a Strategic Cooperation Memorandum of... Read more
INTERCARGO statement on Extraordinary Meeting of MEPC
(Posted on 20/10/25)The International Association of Dry Cargo Shipowners (INTERCARGO) has released a statement on the Extraordinary... Read more
Investigation into impact of technology on seafarers
(Posted on 20/10/25)The future of shipping is already here. From autonomous systems to artificial intelligence, maritime... Read more
ESL Shipping’s science-based net-zero targets validated by SBTi
(Posted on 17/10/25)The Science Based Targets initiative (SBTi) has approved ESL Shipping’s near and long-term... Read more
