Vigilancia Tecnológica

How’s that QE2 working out for you? To answer the question, we first have to establish the goals of a second round of quantitative easing as laid out by Federal Reserve Chairman Ben Bernanke (above). The Fed’s purchases of US Treasuries “affect the economy primarily by lowering interest rates on securities of longer maturities,” Bernanke explained in a November 19 speech in Frankfurt. Lower rates equate to more “accommodative financial conditions,” he said.

After the Greek and Irish crises and the spread of financial contagion to Portugal, Spain, and possibly even Italy, the Eurozone is now in a serious crisis. There are three possible scenarios: “muddle through,” based on the current approach of “lend and pray”; “break-up,” with disorderly debt restructurings and possible exit of weaker members; and “greater integration,” implying some form of fiscal union.

Saudi Oil Min: No Need For OPEC To Meet Again Before June Saudi Oil Minister Ali al-Naimi reiterated Friday that the Organization of the Petroleum Exporting Countries doesn’t need to meet again before June.

GMS Week 52 Merry Christmas and Happy New Year! With the holiday season in full swing and most in the shipping community haveing diverted their attentions towards more important issues, such as spending time with family, friends and loved ones, the recycling industry went through a bit of a slow spell this week as compared to recent weeks.

Could this be the breakthrough in tackling shipping’s climate impact? Shipping could become the first industry to have a global carbon dioxide reduction measure. A legislative process has been set in motion at the International Maritime Organisation (IMO) which, if approved, could see obligatory energy efficiency standards for new ships come into effect in 2013. A vote is expected at the IMO’s Marine Environment Protection Committee (MEPC) in July.

Somali piracy flourishes into lucrative business Somali pirates have set up a sophisticated network of agents to negotiate and launder ransom money that has turned the seizing of ships into a lucrative business, experts say.

Oslo to take part in Environmental Ship Index The port of Oslo in Norway is to take part in the Environmental Ship Index, according to a Port of Rotterdam press release.

Musaffah Port has reopened for business after a number of improvements including the imminent completion of a new Dh1.5 billion (US$408.4 million) channel linking the industrial area to shipping traffic.

Saudi Oil Min Denies Oil Being Smuggled Through Saudi Ports Saudi Oil Minister Ali al-Naimi Friday denied the country is investigating a smuggling operation that illegally exported discount-priced oil to Europe.

Costa Rica invests $200 million in port development projects The Costa Rican government will be investing approximately $200 million for port improvements, according to BN Americas.