Trendwatch: Steep US tariffs set to hit Indian exports from Wednesday; Carriers reroute fleets to sidestep US levy; Zim confirms Turkey’s immediate ban on shipping associated with Israel

Steep US tariffs set to hit Indian exports from Wednesday

Indian exporters are bracing for a sharp decline in U.S. orders after trade talks collapsed and Washington confirmed steep new tariffs on the South Asian nation's goods take effect from Wednesday, escalating tension between the strategic partners.

An additional 25% duty announced by President Donald Trump, confirmed in a notice by the Homeland Security Department, takes total tariffs to as much as 50%, among Washington's highest, in retaliation for New Delhi's increased buying of Russian oil.

Reuters

 

Carriers reroute fleets to sidestep US levy

Global shipping is realigning fleets in anticipation of October’s extra port fees to be levied by the US on China-linked tonnage.

This is already being reflected in chartering decisions for transatlantic tanker and dry bulk fixtures with Chinese-built tonnage shifting to other parts of the globe.

Splash 247

 

Zim confirms Turkey’s immediate ban on shipping associated with Israel

Zim confirmed the earlier reports that Turkey has begun turning away ships associated with Israel. The company, which is the ninth-largest container carrier, reports it is rerouting ships scheduled to call at Turkish ports and working on a mitigation plan.

In a stock exchange filing on Monday, August 25, Zim writes, “It received a notice from the Turkish Port Authorities through the company’s local agent in Turkey, that as a result of a new regulation adopted in Turkey, vessels that are either owned, managed or operated by an entity related to Israel will not be permitted to berth in Turkish ports.”  The change was said to be effective immediately as of last Friday.

The Maritime Executive

 

Korean Air agrees to order 103 Boeing jets

Korean Air has agreed to purchase 103 Boeing jets as part of a $50 billion plan to modernise its fleet and integrate itself with recently acquired subsidiary Asiana Airlines.

The deal includes commitments by Korean to purchase 50 737 Max 10s, eight 777-8 Freighters, 20 777-9s and 25 787-10s, Boeing said on 25 August. 

Flight Global

 

Thai exports beat forecast in July but growth to slow due to tariffs

Thailand's export growth slowed in July but beat forecasts as shipments accelerated ahead of U.S. tariffs, but growth is set to slow over the rest of the year after those tariffs took effect, the commerce ministry said on Monday.

Customs-cleared exports rose 11% in July from a year earlier, the ministry said, beating a forecast 9.6% year-on-year increase in a Reuters poll, but down from a rise of 15.5% in June.

AJOT, Reuters

 

State-imposed ‘cost burden’ hampering the German aviation industry

“Since 2019, state-imposed costs have more than doubled, and airlines are increasingly avoiding Germany. In view of this alarming development, it is essential that the federal government give priority to the crisis facing Germany as an air traffic hub.”

The words are those of Jens Bischof, chairman of the German aviation industry association, BDL, whose members are confronted with a prolonged post-COVID stagnation in both passenger and freight traffic, in stark contrast to buoyant growth trends elsewhere in Europe.

AJOT

 

Marie Maersk resumes voyage after successful fire containment off African coast

The Maersk Triple-E class containership Marie Maersk has resumed its eastbound journey around the Cape of Good Hope following successful containment of a fire that broke out on August 13, the shipping company confirmed.

After an inspection of the affected areas and consultation with authorities, officials deemed it safe for the vessel to continue its voyage on Sunday, August 24.

gCaptain

 

HD Hyundai joins bid to ‘Make America Shipbuilding Great Again’

Cerberus Capital Management and HD Hyundai have formed a partnership to invest in US maritime infrastructure through Cerberus Maritime jumping on the tag line “Make America Shipbuilding Great Again”.

The partnership said it would particularly focus on shipbuilding in the US with HD serving as anchor investor, as well technical and industrial partner.

Seatrade Maritime News

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