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Under the EU Ship Recycling Regulation (SRR), vessels flagged in EU countries will have to be scrapped at EU-approved yards beginning next January.

CMA CGM has completed its acquisition of Containerships after the European Commission authorized the transaction on October 22. The acquisition is part of CMA CGM's strategy aimed at densifying its regional network which began in 2002 with the acquisition of MacAndrews.

Vessel deliveries typically slow down towards the end of the year. If shipowners wait a few weeks, allowing the delivery to slip into the new year, the vessel is considered a whole year younger. Many sectors can expect a higher proportion of the orderbook to hit the water in future years.

Over the past few days, there has been a resurgence of tanker ordering activity.

The number of container ships sold for scrap has plummeted by more than 80% in the first half of this year as a result of higher freight and charter rates and a reduction in the average fleet age, IHS Markit figures show. As a result, demolition of container ships could hit a seven-year low this year if current trends continue.

Japanese shipbuilders received export orders for a total 536,000 gross tons or 18 vessels in June, down 46.9% year on year but up 7.1% from May, Japan Ship Exporters’ Association data showed.

World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 154.9 million tonnes (Mt) in May 2018, a 6.6% increase compared to May 2017.

On Saturday, Beijing announced that it will match President Donald Trump's plan to impose 25 percent tariffs on $50 billion worth of Chinese goods, raising the possibility of a damaging trade war.

Earlier this year in New York City the Exhaust Gas Cleaning System Association (EGCSA) held its annual meeting to discuss the business, technologies and future of scrubbers as a solution to the looming IMO 2020 fuel rules. At the meeting, Maritime Reporter & Engineering News was afforded the opportunity to pick the brains of several leading executives to help understand the challenge and promise that scrubbers provide.