Prawo Archive

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Seven key trends shaping maritime transport

UNCTAD’s Review of Maritime Transport 2018 identifies seven key trends that are currently redefining the maritime transport landscape and shaping the sector’s outlook. These trends, presented in no particular order, entail challenges and opportunities which require continued monitoring and assessment for effective and sound policymaking.

1) Protectionism
On the demand side, the uncertainty arising from wide-ranging geopolitical, economic, and trade policy risks as well as some structural shifts, constitutes a drag on maritime trade. An immediate concern are the inward-looking policies and rising protectionist sentiment that could undermine global economic growth, restrict flows and shift trade patterns.

2) Digitalization, e-commerce and the implementation of the Belt and Road Initiative
The unfolding effects of technological advances and China’s ambitious reordering of global trade infrastructure will entail important implications for shipping and maritime trade. The Belt and Road Initiative and growing e-commerce have the potential to boost seaborne trade volumes, while the digitalization of maritime transport will help the industry respond to the increased demand with enhanced efficiency.

3) Excessive new capacity
From the supply-side perspective, overly optimistic carriers competing for market share may order excessive new capacity, leading to worsened shipping market conditions. This, in turn, will upset the supply and demand balance and have repercussions on freight-rate levels and volatility, transport costs, as well as earnings.

4) Consolidation
Liner shipping consolidation through mergers and alliances has been on the rise over recent years in response to lower demand levels and oversupplied shipping capacity dominated by mega container vessels. The way this affects competition, and the potential for market power abuse by large shipping lines as well as the related impact on smaller players, remains a concern.

5) The relationship between ports and container shipping lines
Alliance restructuring, and larger vessel deployment is also redefining the relationship between ports and container shipping lines. Competition authorities and maritime transport regulators should also analyze the impact of market concentration and alliance deployment on the relationship between ports and carriers. Areas of interest span the selection of ports-of-call, the configuration of liner shipping networks, the distribution of costs and benefits between container shipping and ports, and approaches to container terminal concessions.

6) Scale
The value of shipping can no longer be determined by scale alone. The ability of the sector to leverage relevant technological advances is as increasingly important.

7) Climate change
Efforts to curb the carbon footprint and improve the environmental performance of international shipping remain high on the international agenda. The initial strategy adopted in April 2018 by the International Maritime Organization to reduce annual greenhouse gas emissions from ships by at least 50% by 2050, compared to 2008, is a particularly important development. On the issue of air pollution, the global limit of 0.5% on sulphur in fuel oil will come into effect on 1 January 2020. To ensure consistent implementation of the global cap on sulphur, it will be important for ship owners and operators to continue to consider and adopt various strategies, including installing scrubbers and switching to liquefied natural gas and other low-sulphur fuels.

Source: https://unctad.org; Photo: Marek Grzybowski

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EY Tax alert

Report on recent US international tax developments. The United States (US) Internal Revenue Service (IRS) on 4 June issued a news release (IR-2018-131) announcing that certain late-payment penalties relating to the Internal Revenue Code Section 965 repatriation transition tax will be waived, and providing additional information for individuals subject to the transition tax regarding the due date for relevant elections. The relief is explained in three new FAQs posted on the IRS’ tax reform page, supplementing 14 existing questions and answers that provide details on reporting and paying the tax.

The IRS announced that, in some cases, the IRS will waive estimated tax penalties for taxpayers subject to the transition tax who improperly attempted to apply a 2017 calculated overpayment to their 2018 estimated tax, if all required estimated tax payments are made by 15 June 2018. In addition, the IRS will waive the late payment penalty for individual taxpayers who missed the 18 April 2018 deadline, if the installment is paid in full by 15 April 2019. This relief is only available if the total transition tax liability is less than US$1 million.

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EY’s new Tax News Update: Global  Edition is a free, personalized email subscription service that allows you to receive EY Global Tax Alerts, newsletters, events, and thought leadership published across all areas of tax. For additional information with respect to this Alert, please contact the following:

Ernst & Young LLP, International Tax Services, Washington, DC

Arlene Fitzpatrick arlene.fitzpatrick@ey.com;

Joshua Ruland joshua.ruland@ey.com

More: Global Tax alert library in https://www.ey.com

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Your Strategy Has to Be Flexible—But So Does Your Execution

GDYNIA 2017 stocznia Stena fot. Grzybowski

Peter Drucker said: “Plans are only good intentions unless they immediately degenerate into hard work.” This and a slew of similar maxims reflect a common view of strategy execution: that it’s distinct from strategy, harder to pull off than defining a strategy, and therefore more critical to success—underpinned by seemingly indisputable virtues such as diligence, discipline, consistency, alignment, and focus. But such a simplistic view of execution can be misleading and can reduce actual impact.

In fact, several frequently observed traps result from such a view of execution.

Losing the Plot.

Metric Obsession.

Planning Myopia. 

Missed Learning Opportunities. 

The Tyranny of Intermediate Goals.

Missing the Forest for the Trees.

Execution as a Thing.

The Tyranny of Practicality.

We should not let the simplistic but comforting dualism of strategy and execution deceive us. Execution should be as varied, as thoughtful, as subtle, as diverse, and as intertwined with strategy as is necessary to get the job done, and that will vary according to the specific challenge at hand. In short, your execution needs a strategy.

More in:  www.hbr.org.

The BCG Henderson Institute is The Boston Consulting Group’s internal think tank, dedicated to exploring and developing valuable new insights from business, technology, and science by embracing the powerful technology of ideas. The Institute engages leaders in provocative discussion and experimentation to expand the boundaries of business theory and practice and to translate innovative ideas from within and beyond business. For more ideas and inspiration from the Institute, please visit: Ideas & Inspiration

Author: Martin Reeves ,  Senior Partner & Managing Director; Director of the BCG Henderson Institute, New York

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Gabinet Cieni BCC o polityce gospodarczej rządu w 1 połowie 2016 r.

BCC Warszawa posiedzenie 2016-06-30

30 czerwca odbyło się posiedzenie Gospodarczego Gabinetu Cieni BCC. Ministrowie podsumowali działania rządu w II kwartale oraz przedstawili rekomendacje na drugie półrocze. Read the rest of this entry »

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Jak skutecznie ograniczyć szarą strefę w Polsce?

Szara Strefa SAM_6140

Od 12 do nawet 25 proc. PKB – tyle wg różnych szacunków wynosi wartość szarej strefy w Polsce. Jak skutecznie zapobiegać znikaniu miliardów złotych z polskiej gospodarki – o tym dyskutowali uczestnicy konferencji „Przeciwdziałanie szarej strefie – wspólne działanie dla rozwoju Polski”, która odbyła się 7 kwietnia 2016 r. w Ministerstwie Finansów. Podczas konferencji zaprezentowano raport dotyczący tego zjawiska, przygotowany we współpracy z Organizacją Narodów Zjednoczonych.
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