financializer news A weblog highlighting financial topics making news in the international media.

move: Although short on details, the announcement signals that Washington is willing to go beyond traditional diplomatic measures and will seek to drain cash from Maduro's government, which is already struggling under an unprecedented economic meltdown, according to Nine News Australia. Such a move would significantly strengthen the hand of Guaido, who swore himself in as interim head of state on Wednesday with the support of Washington and nations around the region. To improve your experience update it here News WorldUS seeks to cut money supply to Maduro By AAP2 22pm Jan 25, 2019Facebook Tweet Mail The US is seeking to ensure Venezuelan oil revenue goes to opposition leader and self-declared interim president Juan Guaido, and to cut off money from isolated President Nicolas Maduro, a top US official says. What we're focusing on today is disconnecting the illegitimate Maduro regime from the sources of his revenues, national security advisor John Bolton told reporters at the White House. Bolton added that the process was very complicated and that officials were still studying how this would function. We think consistent with our recognition of Juan Guaido as the constitutional interim president of Venezuela that those revenues should go to the legitimate government. (news.financializer.com). As reported in the news.

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content: Jan. 25, 2019, 9 37 a.m, according to MSNBC. The growing stream of reporting on and data about fake news, misinformation, partisan content, and news literacy is hard to keep up with. Audience & Social Do people fall for fake news because they're partisan or because they're lazy Researchers are divided Plus Real-life consequences after you get harassed online, watching your boyfriend become radicalized, and what is Fox News, exactly By Laura Hazard Owen laurahazardowen Jan. 25, 2019, 9 37 a.m. This weekly roundup offers the highlights of what you might have missed. Here's a helpful meta-analysis of the fake news analysis. Where the research splits. (news.financializer.com). As reported in the news.

group: If it is confirmed that contractors from the group traveled to Venezuela, this would be their first known deployment in the western hemisphere, according to The Guardian. Venezuela at the crossroads the who, what and why of the crisis Read more The order came down on Monday to form a group to go to Venezuela. Citing three sources, the news agency said that the mercenaries are linked to the Wagner group, which has carried out missions in Ukraine and Syria and is now reportedly active in countries in Africa, too. They are there to protect those at the highest levels of the government, Yevgeny Shabaev, a Cossack leader with ties to military contractors, told the Guardian by telephone. He said he had been told about the trip by the relatives of the military contractors. Shabaev, one of the sources cited by Reuters, is a campaigner for the rights of veterans, a group that overlaps heavily with those who join mercenary groups in Russia. (news.financializer.com). As reported in the news.

michael tibollo: Michael Tibollo, Minister Minister of Tourism, Culture, and Sport, referred to the state of Ontario Place in harsh terms at a discussion with tourism stakeholders on Tuesday, calling it shameful and a disgrace, according to The Toronto Star. Steve Russell / Toronto Star In a wide-ranging discussion with tourism stakeholders on Tuesday, the minister slammed the state of Ontario Place on multiple occasions, calling it shameful. The comments highlighted the minister's overall philosophy and priorities for Ontario Place and indicated the government's eagerness to attract investment to the waterfront site that has been mostly unused since 2011, when the Liberal government shuttered the money-losing theme park west of Toronto's downtown. He unfavourably described a recent site visit in cinematic terms, saying, I feel like I'm walking through a Fellini film, and remarked on the peeling paint on buildings that have not been maintained. He also raised the idea of integrating Ontario Place with the city-owned Exhibition Grounds and invoked the idea of a monorail to ease transportation concerns to and at the site. In its place, the minister expressed the desire for an ambitious vision to turn Ontario Place into a jewel, saying that doing so would require working with more than one developer. (news.financializer.com). As reported in the news.

gr ie: ISOCountry Groups euro at be cy ee fi fr de gr ie it lv lt lu mc mt nl pt sk si sm es va uk gb us us variants 1 33.4, 2 33.3, 3 33.3 Join Independent Minds For exclusive articles, events and an advertising-free read for just 5.99 6.99 9.99 a month Start your free trial Get the best of The Independent With an Independent Minds subscription for just 5.99 6.99 9.99 a month Start your free trial Get the best of The Independent Without the ads for just 5.99 6.99 9.99 a month Start your free trial The government's prediction is based on the central estimate from the OGA's range of forecast costs to operators, which in 2018 was 58.3bn, according to The Independent. However, the NAO said, the actual cost will depend not just on the cost to operators, but also on outside factors such as the oil price and exchange rates. HMRC has forecast the total bill fortaxpayers, but the NAO said this is subject to significant uncertainty . The Oil and Gas Authority OGA estimates that the decommissioning process will cost operators between 45bn and 77bn with the associated tax reliefs being paid from the public purse. Read more Cost of dismantling North Sea oil could be double government target Surge in oil and gas companies using injunctions to block protesters Government must stop supporting oil drilling in the Arctic, warn MPsOil and gas industry needs to wake up to risk of cyber attacks' UK oil and gas operators have increasingly been decommissioning their infrastructure in recent years, as reserves run out and tax revenues decline, spending more than 1bn each year to take oil and gas production facilities offline. By providing tax relief on decommissioning we are attracting continued investment into our reserves supporting jobs, boosting the economy and protecting our energy supply, a government spokesperson said. In 2018, the Intergenerational Foundation said its research pointed to a much higher cost for decommissioning, with younger generations facing a bill of more than 80bn. (news.financializer.com). As reported in the news.

jordan: This training program is specifically designed for Jordan in this field and it is the start of exchange of expertise between the two sides, said the ambassador, according to Global Times China. China, he said, was keen on increasing cooperation with Jordan and the Gulf states in the field of renewable energy and the training courses held by China are part of China's support to Jordan to provide the kingdom with technical expertise in this sector. The ambassador made the remarks during a meeting with Jordanian Minister of Energy and Mineral Resources Hala Zawati on Thursday in the presence of trainees who have attended a workshop in China on renewable energy. Zawati stressed on the key ties between the two sides in various arenas. The minister voiced appreciation for China's support to Jordan and for implementing energy projects in the kingdom. She added that a delegation of the ministry's staff visited China recently where they received a training course in the field of renewable energy and energy efficiency. (news.financializer.com). As reported in the news.

move issue: Abe reportedly hopes to move the issue forward when Putin visits Japan to attend the Group of 20 summit in June even by agreeing to a compromise settlement that deviates from Japan's long-held position over the dispute, according to The Japan Times. However, Russia does not appear ready to bend its position to settle the dispute with Japan. The two leaders only said they have reconfirmed their intentions to expedite the peace treaty talks on the basis of the 1956 Japan-Soviet joint declaration, which calls for handover of the two smaller islands to Japan upon the signing of a peace treaty, as they agreed on last November. The prospect that even a compromise settlement will be reached anytime soon is far from clear. ; Abe, who is in his final three-year term as president of the ruling Liberal Democratic Party through 2021, has expressed his eagerness to resolve the dispute over the islands of Kunashiri, Etorofu, Shikotan and the Habomai islets which were seized by Soviet forces following Japan's surrender in 1945 while he is in office. In the previous summit in November, Abe agreed with Putin to accelerate the peace treaty talks on the basis of the 1956 declaration, which says Moscow will hand over Shikotan and the Habomai islets but makes no mention of the much larger islands of Kunashiri and Etorofu, which account for more than 90 percent of the disputed territory. He has sought to build a personal rapport with Putin holding as many as 25 meetings so far with the Russian leader and has explored fresh approaches to resolving the dispute, including joint economic development of the disputed islands. (news.financializer.com). As reported in the news.

shanghai sipg: Shanghai SIPG have offered 35m for the Austrian but West Ham want closer to 45m and are now ready to cut Arnautovic loose, according to The Independent. Their problem lies in replacing him, with Celta unwilling to negotiate over Gomez this month due to a fear of relegation from La Liga. West Ham have come around to the idea of selling wantaway striker Marko Arnautovic this month having previously released a statement insisting that the player would remain a Hammer. ISOCountry Groups euro at be cy ee fi fr de gr ie it lv lt lu mc mt nl pt sk si sm es va uk gb us us variants 1 33.4, 2 33.3, 3 33.3 Join Independent Minds For exclusive articles, events and an advertising-free read for just 5.99 6.99 9.99 a month Start your free trial Get the best of The Independent With an Independent Minds subscription for just 5.99 6.99 9.99 a month Start your free trial Get the best of The Independent Without the ads for just 5.99 6.99 9.99 a month Start your free trial The Galicians are just a single point above the drop zone after a tough first half of the season and fear an angry reaction from their fans if they sell one of their biggest stars. West Ham's task is made more difficult by Javier Hernandez's desire to join Valencia and Lucas Perez being out of favour with boss Manuel Pellegrini. Only four players in La Liga have more goals than Gomez this season and relegation would be very costly for a Celta side that have already experienced the second tier once this decade. (news.financializer.com). As reported in the news.

stritch: He also talked about a renewed focus on U.S. large-cap stocks and pointed out two of his favorite stocks at the moment, according to Market Watch. BMO Wealth Management has about 46 billion in assets under management. Michael Stritch, the investment chief at BMO Wealth Management, discussed the changing investing environment, how his team of advisers was managing portfolios to reduce risk and how individual investors can do the same. Stritch is based in Chicago. He felt at that time that the portfolios managed by his team were already appropriately positioned, with an emphasis on U.S. equity markets on a relative basis compared with the rest of the world. Cutting risk as storm clouds gather In an interview on Jan. 24, Stritch said BMO Wealth Management clients were expressing more concern during December when the S&P 500 fell 14% than during the declines in February and October. (news.financializer.com). As reported in the news.

nathan stapleton: Nathan Stapleton was out celebrating the life of his late brother-in-law on August 5 when he lashed out, although his lawyer says that did not justify his actions, according to Nine News Australia. The former Cronulla Shark's brother-in-law had died of brain cancer and he was out with his family when he assaulted the man. To improve your experience update it here News National Former Cronulla Shark, Nathan Stapleton fined for assault By AAP5 09pm Jan 25, 2019Former Cronulla Shark Nathan Stapleton has been fined and ordered to pay compensation after he assaulted a man at a Brisbane nightclub Photo from November court appearance Facebook Tweet MailA remorseful former NRL player who was affected by grief when he headbutted and punched a man in a Brisbane nightclub has been fined and ordered to pay compensation. Today, Brisbane Magistrates Court heard the 29-year-old and the other man exchanged words before Stapleton headbutted and punched him in the ear. Defence lawyer Tanguy Mwilambwe said the death in the family didn't justify his client's actions but had affected him, particularly because Stapleton's mum had also died of cancer in 2013. The victim suffered a small cut and bruising to his nose as well as abrasions to his left ear. (news.financializer.com). As reported in the news.

store: I thought I'm not going to be here at that age, and then it's like holy s---, she says, drinking an iced coffee in the food court below the store that has felt like home for the better part of three decades, according to The Toronto Star. Jean Machine store manager Susan Cripps-Campbell, director of operations Darren Perlman, senior assistant manager Shida Dastoom and district manager Iggy Eterno, at the Toronto Eaton Centre store this month. Her manager was 26. Says Eterno, who was in charge of recruiting We wanted personality. Steve Russell / Toronto Star She has been here exclusively since 1994, an endless cycle of skinny and wide fit, low- and high-rise, near the escalator bank that whisks shoppers toward Nordstrom, Sears or Eaton's, depending on the decade. We had a lot of challenging employees ... but God were they fun. (news.financializer.com). As reported in the news.

transit: Andy Byford takes the No. 4 subway train on his first day as president of the New York City Transit Authority, Jan. 16, 2018, according to The Toronto Star. Byford, former chief executive at the Toronto Transit Commission, halted the delivery of Bombardier's trains to NYC, citing depressing issues. Andy Byford told the state transit authority this week that New York City Transit will halt new train car deliveries until more of the existing cars are fixed. HILARY SWIFT / The New York Times It's gruelling. He cited depressing issues with the HVAC system software and past problems with springs between the cars and doors that were weeping oil. You have to stay on their case, you have to hold their hands, you have to cajole them, Byford said at a Metropolitan Transportation Authority committee meeting Tuesday. (news.financializer.com). As reported in the news.

trump: Read more Senators propose stopgap spending bill to end government shutdown, but Trump, Democrats remain divided Williams began his interview with O'Brien by reading a segment of a Washington Post report that discussed the apparent lack of empathy shown by both Secretary of Commerce Wilbur Ross and Director of the United States National Economic Council Larry Kudlow, in recent comments regarding the shutdown, according to MSNBC. The twin appearances underscored a tone-deafness that has become more pronounced in the Trump administration as the plight of approximately 800,000 federal workers worsens, the report read. Tim O'Brien who wrote the 2005 book Trump Nation The Art of Being Donald was making an appearance on MSNBC's The 11th Hour With Brian Williams when he delivered the comments. Trump has made no appearances at area food banks or other gathering places for furloughed workers, nor has he used the bully pulpit of his office to spotlight their basic struggles. We saw that when Puerto Rico got hit by a hurricane. Williams then asked O'Brien about whether he recognized anything in Trump's recent behavior that resonated with what he saw during his research for the biography.O'Brien responded Well, he is an affluent man who was born into wealth and he doesn't have an authentic connection to the struggles and the needs of average people. (news.financializer.com). As reported in the news.

wayan koster: Governor of Bali, Wayan Koster, has said that revenue from the tax would go towards programmes that help to preserve the environment and Balinese culture, according to The Guardian. The new tax is being proposed in light of the island's continuing battle against plastic waste, which pollutes beaches and surrounding waters. According to the Jakarta Post, a new bylaw has been drafted that includes a 10 7.60 fee for overseas visitors to the Indonesian island. The popular tourist destination, which is roughly the same size as the county of Norfolk, saw nearly 5.7 million visitors in 2017 mainly from China and Australia and numbers will continue to rise, according to the national tourism ministry. The ban was aimed at producers, distributors, suppliers and businesses, who have six months to replace items with alternative materials. Single-use plastics, including shopping bags, styrofoam and plastic straws were banned in December 2018. (news.financializer.com). As reported in the news.

address broadcast: Tensions have soared between the two nations after the Trump administration recognized opposition leader Juan Guaido, who claimed Wednesday to hold the presidency and vowed to remove Maduro, calling him a dictator, according to The Japan Times. Maduro retaliated by severing relations with the U.S. and giving American diplomats 72 hours to leave Venezuela. Maduro warned that if U.S. officials have any sense they will pull out their own diplomats from the U.S. Embassy in Caracas, rather than defying his order for them to leave. ; They believe they have a colonial hold in Venezuela, where they decide what they want to do, Maduro said in an address broadcast live on state TV. You must fulfill my order from the government of Venezuela. However, Washington said it would ignore the order after Guaido issued his own statement urging foreign embassies to disavow Maduro's orders and keep their diplomats in the country. Venezuela's top military brass pledged their unwavering support to Maduro, delivering vows of loyalty earlier Thursday before rows of green-uniformed officers on state television. All eyes have been on the military, a traditional arbiter of political disputes in Venezuela, as a critical indicator of whether the opposition will succeed in establishing a new government. (news.financializer.com). As reported in the news.

balance sheet: The central bank has already declared that rates won't be lifted until at least the end of summer, according to Market Watch. In December it ended its monthly asset purchases, the ECB's version of quantitative easing, or QE, while committing to maintaining the size of its bulked up balance sheet by reinvesting the proceeds of maturing bonds. The ECB is widely expected to announce no new actions when it concludes its first policy meeting of 2019 on Thursday. That means Draghi's postmeeting news conference will be the main event. In this case, an acknowledgment that risks to the economic outlook are skewed to the downside would set the stage for an eventual round of cheap loans designed to bolster financial conditions, though any concrete action would be unlikely to come before the next policy meeting in March, said Oliver Rakau, chief German economist at Oxford Economics, in a note. And as is often the case with monetary policy and financial markets, words count nearly as much as actions. (news.financializer.com). As reported in the news.

benchmarks fare: The Nasdaq Composite COMP, 1.29% gained 47.69 points, or 0.7%, to 7,073.46, according to Market Watch. What drove the market Investors are measuring solid earnings reports against concerns over slowing economic growth in China and Europe, along with fears that U.S.-China trade tensions will not be eased soon. How did the benchmarks fare The Dow Jones Industrial Average DJIA, 0.75% slid 22.38 points to 24,553.24, while the S&P 500 index SPX, 0.85% rose 3.63 points, or 0.1%, to 2,642.33. Those worries came into sharper focus after Commerce Secretary Wilbur Ross told CNBC that the U.S. is miles and miles away from a trade deal with China. Earnings season is in full swing, with shares of American Airlines Group Inc AAL, 3.92% climbing after the airline announced fourth-quarter results that topped expectations for profit and revenue. The comments added to rising concerns on Wall Street that the trade standoff won't be resolved before March, when the president has promised to raise the current 10% tariff on more than 200 billion in Chinese imports to 25%, if a deal cannot be reached. (news.financializer.com). As reported in the news.

business model: Potential may be high, but a rocky road awaits for the ride-hailing sector due to anger from taxi firms which see their business model under threat and likely moves by regional authorities meant to ensure a level playing field, according to The Japan Times. Despite its relatively small population, Singapore has emerged as a key market for ride-hailing firms due to its position as a key business hub and the unique condition of its transport sector. Fierce competition is looming between Indonesia's Gojek and Singapore-based Grab, which is backed by companies including Soft Bank Group Corp., Toyota Motor Corp. and Yamaha Motor Co. ; Gojek is backed by Singapore's largest local bank DBS Bank technology giant Google, Chinese internet services giant Tencent, Singapore sovereign wealth fund Temasek and Chinese online food giant Meituan-Dianping. The sky-high price of car ownership has boosted demand for ride-hailing services and electric car rentals. That has made car prices in Singapore among the highest in the world and inadvertently turned car ownership into a status symbol. For decades, the wealthy city-state has pursued a policy of curbing the number of private cars to prevent the traffic snarls that have paralyzed many other Southeast Asian cities. (news.financializer.com). As reported in the news.

countries: China's exports to BRI countries and regions increased 10.9 percent year-on-year in 2018, while imports from those places rose 23.9 percent from the previous year, according to Global Times China. Chinese enterprises' non-financial direct investment in countries and regions along the routes of BRI was 15.64 billion, up 8.9 percent from the previous year. Last year total trade between China and countries and regions along the routes reached 1.3 trillion, up 16.3 percent year-on-year, data from China's Ministry of Commerce MOFCOM showed on Thursday, taking up 27.4 percent of China's total foreign trade of 4.62 trillion, according to data released by the General Administration of Customs on January 14. Direct investment in China from those places reached 6.08 billion, up 11.9 percent year-on-year, according to MOFCOM. In 2019, we'll join hands with related countries to make more progress on BRI. China will continue to open its market further for countries and regions along the BRI routes to share opportunities and meanwhile, we'll promote the inter-opening up between BRI countries and regions in order to create an open economy in the world and realize common development, MOFCOM spokesperson Gao Feng told a regular briefing on Thursday. Wang Lingui, a research fellow from Research and Development International, a Chinese Academy of Social Sciences think tank, told the Global Times on Thursday that from a concept grown up to real-life employment opportunities, infrastructure projects, people-to-people exchanges, BRI's influence is undeniable since it pursues joint consultation, building and sharing. s The role of China International Import Expo, a platform for conducting cooperation between BRI counties and regions, should continue to play its full advantage, said Gao. We'll also further promote free and convenient trade and investment in such aspects as inking high-standard free trade agreement with BRI countries which have the willingness as well as boost the cross-border e-commerce, said Gao. (news.financializer.com). As reported in the news.

electricity shortages: Indeed, integration between Cambodia's Rectangular Strategy and Belt and Road initiative BRI has injected new impetus, according to Global Times China. At the China-Cambodia Trade and Investment Promotion Forum 2019 in Beijing, Cambodian Prime Minister Samdech Techo Hun Sen emphasized that the Chinese investment has played an important role in infrastructure urgently needed for Cambodia's economic transformation and industrialization. It is an important expression for China and Cambodia's decades long friendship and cooperation. The 400-megawatt Lower Sesan II hydroelectric power dam, Cambodia's largest hydropower project completed by Chinese company, recently has become a symbol of that. It has greatly relieved electricity shortages, increasing energy independence, reducing reliance on oil-fueled power plants and alleviating poverty. The power project contributes around 20 percentage of Cambodia's total installed capacity. (news.financializer.com). As reported in the news.

gr ie: The Home Office said a small number of migrants who travelled to Kent in boats at the end of last year were returned to France on Thursday morning, according to The Independent. ISOCountry Groups euro at be cy ee fi fr de gr ie it lv lt lu mc mt nl pt sk si sm es va uk gb us us variants 1 33.4, 2 33.3, 3 33.3 Join Independent Minds For exclusive articles, events and an advertising-free read for just 5.99 6.99 9.99 a month Start your free trial Get the best of The Independent With an Independent Minds subscription for just 5.99 6.99 9.99 a month Start your free trial Get the best of The Independent Without the ads for just 5.99 6.99 9.99 a month Start your free trial There will be a mutual commitment to conduct return operations as quickly as possible under the Dublin Regulation, the Home Office said. Sajid Javid announced the move as part of an agreement that will see the UK pay 6m for security equipment including drones and video surveillance along the French coast. The UK will continue to work closely with France and other countries to return more migrants who have entered the UK by small boat, in order to provide a strong deterrent against the dangerous crossings. Even if they have already applied for asylum in Britain, the government will seek to transfer responsibility to France, but could face legal challenges. Read more Refugees are in the Channel thanks to the actions of the west Pair arrested over Channel migrant smuggling'Sajid Javid says English Channel asylum claims will not succeed' The Independent understands that the returns policy has been backdated to 1 October, meaning it will apply to hundreds of men, women and children. (news.financializer.com). As reported in the news.

name: In an email to Reuters, Callamard said the inquiry was being conducted at her request and that she would be accompanied by three experts, who have forensic expertise among other skills, according to The Guardian. She declined to name the experts for now. Agnes Callamard, the special rapporteur on extrajudicial, summary or arbitrary executions, said she would evaluate the circumstances of the crime and the nature and the extent of states' and individuals' responsibilities for the killing . She will report on the findings from her five-day visit to the UN human rights council in June. Earlier on Thursday, the Turkish foreign minister, Mevl t avu o lu, said it was time for an international investigation and that the Turkish president, Recep Tayyip Erdo an, had ordered preparations to be made. Riyadh has sent a large-scale ministerial delegation, which has expressed sorrow at Khashoggi's death while at the Swiss resort. The development came as western businesses moved towards normalising relations with Saudi Arabia at the World Economic Forum in Davos. (news.financializer.com). As reported in the news.

move: Although short on details, the announcement signals that Washington is willing to go beyond traditional diplomatic measures and will seek to drain cash from Maduro's government, which is already struggling under an unprecedented economic meltdown, according to Nine News Australia. Such a move would significantly strengthen the hand of Guaido, who swore himself in as interim head of state on Wednesday with the support of Washington and nations around the region. To improve your experience update it here News WorldUS seeks to cut money supply to Maduro By AAP2 22pm Jan 25, 2019Facebook Tweet Mail The US is seeking to ensure Venezuelan oil revenue goes to opposition leader and self-declared interim president Juan Guaido, and to cut off money from isolated President Nicolas Maduro, a top US official says. What we're focusing on today is disconnecting the illegitimate Maduro regime from the sources of his revenues, national security advisor John Bolton told reporters at the White House. Bolton added that the process was very complicated and that officials were still studying how this would function. We think consistent with our recognition of Juan Guaido as the constitutional interim president of Venezuela that those revenues should go to the legitimate government. (news.financializer.com). As reported in the news.

end: For the past two weeks, ever since Maduro took the oath for a second six-year term in the face of widespread international condemnation, the newly invigorated opposition had been preparing for nationwide demonstrations coinciding with the anniversary marking the end of Venezuela's last military dictatorship in 1958, according to Nine News Australia. While Maduro has shown no signs of leaving, his main rival, National Assembly President Juan Guaido, upped the ante by declaring himself interim president before masses of anti-government demonstrators the only way, he said, to rescue Venezuela from leader Juan Guaido declared himself Venezuela's interim president. To improve your experience update it here News World Opposition leader claims Venezuela presidency amid violent street protests By CNN11 36am Jan 24, crisis quickly escalated as an opposition leader backed by the Trump administration declared himself interim president in a direct challenge to embattled socialist Nicolas Maduro, who retaliated by breaking off relations with the United States, his biggest trade partner. AP Outside the capital, seven demonstrators were killed amid disturbances during protests that rocked several cities. AP In a seemingly coordinated action, the US led a chorus of Western hemisphere nations, including Canada, Brazil, Argentina and Colombia, that immediately recognized Guaido, with President Donald Trump calling on Maduro to resign and promising to use the full weight of the U.S. economic and diplomatic power to push for the restoration of Venezuela's democracy. Opponents demonstrate against the government of President Nicolas Maduro in Caracas. (news.financializer.com). As reported in the news.

michael: That's the concern of Ports Australia CEO Michael Gallacher, according to Nine News Australia. A few generations ago we had over a hundred vessels sadly now we've got less than a dozen, he told 9News. To improve your experience update it here News National An island without boats Australia's looming shipping problem By 9News Staff7 02pm Jan 24, may be surrounded by water, but when it comes to imports and exports we are at the mercy of foreign fleets. We very much are restricted to a lot of the ships coming out of Asia, particularly Chinese based. AAP While China owns more than 5000 vessels, Greece 4199, Japan 3901 and Germany 3090, Australia has just 47 bulk carriers. The absence of Australian-owned cargo ships is troubling the Labor Party. (news.financializer.com). As reported in the news.