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The International Chamber of Shipping (ICS) is the principal international trade association for shipowners, representing all sectors and trades and about 80% of the world merchant fleet. ICS - whose Executive Committee comprising representatives of national shipowners’ associations from over 30 countries met in London last week - has decided to cla...
US regulators have requested that two trade cases currently under negotiation with China be referred to the WTO for arbitration, reported London's Financial Times. While trade talks between the two countries have been underway since September, US negotiators say they can go no further and now seek WTO arbitration. Once a WTO dispute panel is formed, it t...
Iranian President Mahmoud Ahmadinejad said on Monday that his country is determined to triple the value of annual trade ties with Turkey, the local satellite Press TV reported. "We are determined to immediately increase the value of our annual trade ties with Turkey to 30 billion U.S. dollars through the expansion of all-out cooperation," the Iranian pres...
Import cargo volume at the U.S. major retail container ports is expected to rise 11 percent in February from the same month last year, showed the monthly Global Port Tracker report released Monday by the National Retail Federation (NRF) and Hackett Associates. NRF said that U.S. ports handled 1.14 million Twenty-foot Equivalent Units(TEU) in December, the...
.S. "base" defense budget -- excluding the cost of the wars in Iraq and Afghanistan -- for the next fiscal year rises to a new record despite a significant reduction in overall federal spending. The "base" defense budget for FY 2012 beginning Oct. 1 reaches 553.1 billion dollars, according to a defense budget blueprint released by the Pentagon. This repre...
U.S. stocks closed mixed on Monday as investors were digesting the government's budget proposal for fiscal 2012. U.S. President Barack Obama proposed a budget on Monday, according to which the deficit for the current year will increase to 1.65 trillion dollars, a level equal to nearly 11 percent of the gross domestic product, making it the largest shortf...
Shanghai General Motors Co. will recall 2,806 imported Cadillac CTS vehicles in China to repair faulty track bars to prevent safety risks, China's quality watchdog said on Monday. The recall, which is set to begin on March 21, includes models that were produced between June 16, 2008 and April 20, 2009, the General Administration of Quality Supervision, I...
Eurozone finance ministers on Monday agreed on the size of the permanent rescue fund, promising to provide 500 billion euros (about 670 billion U.S. dollars) to eurozone countries that fall prey to the debt crisis after the current rescue fund expires in 2013. Eurogroup President Jean-Claude Juncker told reporters after a regular meeting of the bloc's 17...
Port of Tallinn is the biggest port authority in Estonia and as far as both cargo and passenger traffic are taken into account, the biggest port on the shores of the Baltic Sea.
Qingdao Saint Voyage Logistics Inc. (SVL) is an Experienced International Shi
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