The EU Commission will launch a new investigation into whether Chinese wind turbine suppliers have an unfair advantage in the European market through subsidies.
Image from “THE IRISH TIMES”
Margrethe Vestager, the EU’s competition chief, said Tuesday that the probe would look into the development of wind farms in Spain, Greece, France, Romania and Bulgaria. She did not disclose the names of the relevant companies in his speech.
The European Commission has initiated an investigation into whether tariffs should be imposed on electric cars imported from China, stating that there is evidence indicating that Chinese electric cars benefit from government subsidies.
“It is only natural that the (EU Commission) use the tools at its disposal to restore fair and open competition on the market,” said WindEurope Chief Policy Officer Pierre Tardieu. European manufacturers were banned from using state-backed financing to shore up their bids by offering cheaper prices or deferring payments under OECD free trade rules, Tardieu added on a conference call.
The wind power investigation will be under new EU powers which have allowed the Commission since July 2023 to assess whether foreign subsidies allow companies to submit overly advantageous offers in public tenders. Shares in Vestas, which declined to comment, closed 0.7% higher. A Siemens Energy spokesperson also declined to comment on the EU investigation, but said that all market participants needed a level playing field.
Negotiations have reached a stalemate. On Wednesday, locomotive engineers, yard workers, and rail traffic controllers from the Canadian Railway Union (TCRC) voted overwhelmingly to support the strike. Over 9,000 Canadian railway workers could go on strike as early as May 22, significantly impacting the country’s two major railways—Canadian National Railway (CN) and Canadian Pacific Kansas…
Freight forwarders, importers, exporters and many other parties within the space often hear the terms ‘demurrage and detention’. At Trade Finance Global, we often come across confusion between the two terms, and a not too much understanding about the key differences between demurrage and detention. Demurrage and detention are incredibly important terms that often lead…
According to media reports, Italian union port workers plan to strike from 2 to 5 July, with protests scheduled across Italy from 1 to 7 July. Port services and shipping may be disrupted. Shippers with recent shipments to Italy should be aware of potential logistics delays. Despite six months of contract negotiations, Italy’s transport unions…
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The Red Sea Crisis Constrains Global Shipping Supply The international shipping market is now facing a new geopolitical challenge – the Red Sea crisis. The Red Sea region is a critical global shipping corridor, and the ongoing crisis in this area is directly impacting the safety of maritime operations. Major shipping lines are frantically rerouting…
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