European shipping companies look set to escape Brussels’ green taxman for another decade, with a draft proposal circulating in the European Union this week showing negotiators want to postpone levies on marine fuels until at least 2035.
The European Commission had originally proposed back in 2021 to bring shipping and aviation into line with other sectors by gradually introducing EU-wide minimum taxes on CO2-emitting fuels. But after years of pushback, the latest compromise text – drafted by Denmark, which holds the bloc’s rotating presidency – suggests the levies should be shelved until 2035, when Brussels will examine the possibility of finally taxing bunkers.
President Donald Trump’s latest legal setback on tariffs increases uncertainty for American importers while delaying the economic dividends Commerce Secretary Howard Lutnick predicted the administration would generate.
The U.S. appeals court ruling late on August 29, saying that most of Trump’s tariffs are illegal, add a layer of complexity while questioning the president’s authority to impose taxes on companies to incentivize them to produce or source what they need at home.
Fertility rates have dropped sharply since 1990. On average, women today have one less child than 30 years ago. More than half of all countries are now below the replacement rate of 2.1 births per woman — the threshold needed to sustain population size without migration. In many regions, the rate has fallen even further, with some countries averaging fewer than 1.4 births per woman. As populations age and fewer young people enter the workforce, businesses face growing complexity in planning around labor, demand and shifting community structures.
The Houthi targeted Eastern Pacific Shipping tanker Scarlet Ray with a ballistic missile on 31 August, significantly extending the northern reach of the group's attacks in the Red Sea.
While the Yemeni group reported the attack as a successful direct hit in its media channels, the vessel's master reported a splash in close proximity to the vessel followed by a loud noise. With no visible damage to the ship, it continued underway and reported all crew as safe.
CMA CGM has announced the launch of its new service, KILIMA, beginning this August. The service aims to boost efficiency and improve the customer experience along key Asia–East Africa trade routes.
KILIMA is a weekly standalone direct service from China to Kenya and Tanzania. The first call is set for 24 August in Mombasa.
Cathay Cargo has been recertified for IATA’s Center of Excellence for Independent Validators (CEIV) Lithium Batteries accreditation.
The certification offers reassurance for customers using the Cathay Dangerous Goods service, which provides customers with precise handling and segregated storage across all nine classes of dangerous goods, including flammable, radioactive and other types of hazardous materials, along with the safe carriage of lithium-ion batteries.
Israel Aerospace Industries (IAI), a major company in the field of passenger-to-freighter (P2F) aircraft conversions, has announced a significant milestone in aviation. Following a year of intensive work, IAI has successfully completed the world’s first conversion of a Boeing B777-300ER from a passenger aircraft to a freighter, receiving the industry’s first Supplemental Type Certificate (STC) for this model from both the U.S. Federal Aviation Administration (FAA) and the Civil Aviation Authority of Israel (CAAI), according to an official release from IAI.
President Donald Trump is set to imminently ask the conservative-majority Supreme Court to validate his broad emergency tariffs after two setbacks at lower courts, but will face tough legal questions as his administration presses ahead with backup plans.
Legal and trade experts said that the Supreme Court's 6-3 majority of Republican-appointed justices may slightly improve Trump's odds of keeping in place his "reciprocal" and fentanyl-related tariffs after a federal appeals court ruled 7-4 last week that they are illegal.