Forex Markets Hold Steady as Traders Await Fed Minutes Amid Thin Year-End Volumes 
Wall Street Ends Mixed as Tech and Financial Stocks Weigh on Markets Amid Thin Holiday Trading 
South Korea Inflation Rises to 2.3% in December, Matching Market Expectations 
U.S. Stocks Slip as Gold Rebounds Ahead of Year-End, Markets Eye 2026 Outlook 
Oil Prices Slide in 2025 as Oversupply and Geopolitical Risks Shape Market Outlook 
China Imposes 55% Tariff on Beef Imports Above Quota to Protect Domestic Industry 
South Korea Exports Hit Record High as Global Trade Momentum Builds 
Citi Forecasts a Volatile but Ongoing Bull Market for S&P 500 in 2026 
South Korea Factory Output Misses Forecasts in November Amid Ongoing Economic Uncertainty 
South Korean Won Slides Despite Government Efforts to Stabilize Currency Markets 
Gold Prices Rebound in Europe as Geopolitical Tensions and Fed Outlook Support Bullion 
Asia Manufacturing PMI Rebounds as Exports and Tech Demand Drive Growth into 2026 
South Korea Factory Activity Returns to Growth in December on Export Rebound 
Oil Prices Slip Slightly as Markets Weigh Geopolitical Risks and Supply Glut Concerns 
USDA $12 Billion Farm Aid Program Draws Mixed Reactions from Row Crop Farmers 
Oil Prices Stabilize at Start of 2026 as OPEC+ Policy and Geopolitical Risks Shape Market Outlook 
China Manufacturing PMI Rebounds in December, Offering Boost to Economic Growth Outlook 
Authorities around the world are clamping down on ships whose seafarers are working beyond their contracts, without crew repatriation insight.
Failure to relieve overstaying crew who have become desperate, fatigued, and stressed will bring accidents or significant incidents that damage the shipping industry and the reputation of those seafarers, says Francesco Gargiulo, CEO of the IMEC, and Jacqueline Smith, the maritime coordinator at ITF.
On Friday, the Australian Maritime Safety Authority (AMSA) detained UK-flagged bulk ship Berge Heng Shan at Port Hedland due to three crewing-related deficiencies.
A couple of seafarers onboard lacked valid seafarers' employment agreements. Two have not been repatriated according to their contracts, and the ship does not have a repatriation plan for those on board for over 11 months.
The shipowner was able to resolve the problems, and the ship departed for Qingdao the following day.
Gargiulo noted that it is practically impossible to do crew changes in Australia and that the ship is going to China where, unless you are Chinese, it is impossible to do crew change.
In the UK, five cruise ships of Global Cruise Lines were detained over concerns for crew welfare.
According to the Maritime and Coastguard Agency (MCA), there were numerously expired and invalid Seafarers Employment Agreements, late payments of wages, and crews onboard for more than 12 months.
The ITF, which represents about half the world's seafarers, noted that emergency extensions to contracts expired Tuesday, and it will do everything to help crew exercise their legal rights to return home.
The pandemic has restricted access to ports, making it impossible to transport workers to other parts of the world to enable the swapping of crews.
Months at sea without a break result in fatigue and mental illness among seafarers.
ITF's Dave Heindel noted that some seafarers were on board for over a year, and many have been prevented from coming ashore and refused emergency medical care.
Consequently, the seafarers began calling their ships "floating prisons," with some committing suicides at the prospect of this misery continuing.
On Friday, a 19-year-old Chinese Messman jumped off the bow of his ship while at anchor in Vancouver. He is presumed to have drowned.
