News

SPI's Geoeconomics report claims that the international logistics chain will be severely affected by the effects of the economic crisis caused by the Covid-19 pandemic, estimated by IMF in a 3% global GDP contraction in 2020 and by WTO in a 32% collapse in world trade

The Western Ligurian Sea Port Authority has successfully passed the formal assessment to achieve UNI EN ISO 14001:2015 certification in environmental management systems. The audit was scheduled for 14 and 15 April with SGS Italia Spa, the certification company appointed to assess the Port Authority management systems.

The latest World Economic Outlook projects the global economy to contract by -3% in 2020, an outcome far worse than during the 2008–09 financial crisis, however in an optimistic scenario, it is forecasted to grow by 5.8% in 2021 when economic activities normalize helped by policy supports. 

WTO claims even the most optimistic scenario for 2020 is that trade would shrink by 13%, a bigger drop than in the 2008-09 recession and it warns there is the risk of a much gloomier outcome under which trade would shrink by 32%, on a par with the reduction seen between 1929 and 1932, if protectionist measures should be imposed by developed countries.

Happy Easter from the Ports of Genoa.

The Coronavirus public health emergency has had widespread repercussions on maritime transport and on crew and passenger management on board.

According to Oxford Economics, signs are emerging that epidemic control measures are working, nevertheless global economic costs will be significant: China could see a double-digit fall in GDP in Q1 and any rebound in China in Q2 will be swamped by slumping activity in the US and Europe. Global GDP is expected to rebound sharply in Q2, although the contraction through all of 2020 may surpass the -1.1% drop recorded during the 2009 the global financial crisis

Thursday, 9 April 2020, the commemoration of the 50th anniversary of the SS London Valour shipwreck in a gale just outside the Port of Genoa.

At the end of 2018, PSA launched the pioneering direct rail connection between Genoa and Basel, the ‘Mittelmeerzug’ (MMZ)

Rail freight transport in Europe does not seem to be affected for the moment by the measures to contain the coronavirus epidemic implemented by several countries