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Chinese iron ore and steelmaking prices November 15 2017

Traders’ morning offers basically saw no obvious changes today.

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Tanker Market Rates 15/11/2017

Daily rates on main tanker routes as compiled by shipbroker Charles R. Weber.

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ABB wins Frost & Sullivan 2017 Company of the Year Award

ABB is named Frost & Sullivan’s 2017 Company of the Year thanks to its visionary innovation embodied by its distributed control system (DCS) offering and its impact on customer performance. The award recognizes ABB’s digital leadership, not only when compared to other industrial automation suppliers, but also against non-industry peers. The award highlights how ABB meets customer needs for improved performance in tough market conditions, at a time when process and power industries’ production assets have never been larger or more complex. Frost & Sullivan states that ABB’s penetration and ...

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Baltic Dry Index falls to 1405, down 40 points

Today, Tuesday, November 14 2017, the Baltic Dry Index decreased by 40 points, reaching 1405 points.

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Chinese iron ore and steelmaking prices November 14 2017

Traders’ morning offers of spot resources basically held firm today. Partial traders hold strong wait-and-see attitude towards the following market and submit late quotations.

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Tanker Market Rates 14/11/2017

Daily rates on main tanker routes as compiled by shipbroker Charles R. Weber.

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Dorian LPG Ltd. (LPG) Cut to “Hold” at DNB Markets

Dorian LPG Ltd. (NYSE:LPG) was downgraded by investment analysts at DNB Markets from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, October 27th, The Fly reports. A number of other equities research analysts have also recently weighed in on the company. ValuEngine upgraded Dorian LPG from a “sell” rating to a “hold” rating in a research note on Saturday, July 22nd. BidaskClub cut Dorian LPG from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, ...

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MLPs poised for bounce, but could be short-lived

Master limited partnerships (MLPs) have been beaten down in 2017, but conditions may be turning in their favor for a short-term bounce by year-end. An MLP is a limited partnership that is publicly traded and, as such, enjoys the benefits of paying no tax at the company level as well as the liquidity that comes with being traded on a major stock exchange. They generally deal in the production, processing, storage and transport of commodities such as oil and natural gas, which makes them sensitive to fluctuations in the price ...

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Japan trade boss flags Indian port woes

Calcutta has great potential but poor inland connectivity and below-par processing facilities at the port negate the positives, the chief director-general of Japan’s external trade organisation said on the sidelines of a business summit in Calcutta. “The automobile manufacturers of Japan have created a global value chain. Many parts of automobiles are manufactured in southeast Asian nations like Malaysia, the Philippines and Indonesia. The manufactured parts are shipped to the Mumbai and Chennai ports to finally go to factories in India, but these do not go through Calcutta,” Kazuya Nakajo, ...

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Hutchinson targets UAE’s smaller ports with Umm Al Quwain deal

Just days after signing a concession to operate Ras Al Khaimah’s key container port, Hutchinson Ports has been awarded a concession to operate Ahmed Bin Rashid Port in Umm Al Quwain (UAQ). Ahmed Bin Rashid Port is a key entry-exit point for container, general, Ro-Ro and bulk cargo in the northern United Arab Emirates and will be operated as Hutchison Ports UAQ. The port is the 51st in Hutchinson’s global network, but like Ras Al Khaimah, will be primarily a local gateway terminal. “The UAE economy is growing strongly and ...

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Qatar- Hamad Port posts strong performance

Hamad Port continues to post strong performance, despite the ongoing illegal siege imposed on Qatar. The port, the largest port in the Middle East, saw a huge 44 percent year-on-year rise in cargo movement in September this year, while 120 percent rise was seen in tonnage in the same month. The port harboured 150 vessels in September this year compared to 104 vessels in same month last year while net tonnage at the port rose to 143,750 tonnes in September against 65,470 tonnes in September 2016. The strong movement at ...

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Dockworkers and the introduction of containers in UK shipping in the late 1960’s

The introduction of containers in UK shipping in the late 1960s suddenly and profoundly changed the labour market for dock workers. Containers require far fewer workers to load and unload cargo, and therefore they greatly reduced the employment of dock-workers (also known as stevedores or longshoremen). Containerisation had other impacts on UK ports as well. Port activity became much more concentrated in a few locations, rather than being distributed widely around Britain. Containers required deep-water ports and integrated road and rail networks. Many older ports (such as the Port of ...

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Low-sulphur gasoil deliveries for November fall at expiry

Deliveries of low-sulphur gasoil for November fell to 1,535 lots, or 153,500 tonnes, InterContinental Exchange data showed on Friday. The contract expired at $571.25 a tonne, up from $526.00 at October’s expiry, when deliveries reached 6,648 lots at their highest since at least January 2004. Source: Reuters (Reporting by Swati Verma in Bengaluru; Editing by Phil Berlowitz)

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India: Finished steel exports surge 45% in Oct; imports rise 11.5%

Export of total finished steel saw an annual jump of 45 per cent to 0.778 million tonnes during October 2017, according to official data. The overall exports of finished steel stood at 0.537 million tonnes in the same month last year, according to Joint Plant Committee’s latest report. “Export of total finished steel was up by 57.7 per cent in April-October 2017 at 5.626 million tonnes over same period last year,” the report said. However, on month-on-month basis, export in October 2017 (0.778 MT) was 30 per cent lower than ...

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Nickel Supply Rush Seen Cooling Rally Before Batteries Boost

Forget electric vehicles for now. Nickel must first contend with a new wave of supply from Indonesia and the Philippines, as well as a Chinese stainless steel market that’s at risk of slowing after a two-year boom. The metal climbed to the highest level this month since June 2015, lifted by predictions of a jump in demand from electric vehicles. But prices have since retreated as the boost from new energy autos lies several years in the future and investors reset their focus on more immediate concerns. Batteries will represent ...

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