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Asia Week Ahead: China’s activity data in focus

The week ahead China’s activity data tops the list next week as industrial, retail data and more will be announced. Although upcoming reports will not capture the recent lockdowns, they could be a useful measure of the health of China’s economy ahead of the closures. Aside from China data, we also have labour data from Australia and India’s inflation report. Other data reports in the coming week are Indonesia’s trade data and Korea’s MPC minutes, which could shed light on future rate hike decisions. Lastly, Japan reports core machinery orders ...

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UK to announce dozens of new North Sea oil and gas licences -sources

The British government is expected to announce dozens of new North Sea oil and gas exploration licences in an effort to boost domestic production, two sources familiar with the government’s discussions said. The exact number of new licences was still to be confirmed, one of the sources, who spoke on condition of anonymity, said. The other said it could be as many as 130. The announcement could come as soon as Thursday. Prime Minister Liz Truss, who was appointed on Tuesday, is due to set out to parliament on Thursday ...

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Baltic index up as panamax rates climb for sixth session

The Baltic Exchange’s main sea freight index extended gains on Thursday as rates for the panamax vessel segment rose for the sixth straight session. The overall index, which factors in rates for capesize, panamax, and supramax shipping vessels, was up 45 points, or about 4%, at 1,178, a two-week high. The capesize index fell for the third consecutive session, losing 4 points, or about 0.6%, to 652. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as coal and steel-making ingredient iron-ore used in construction, fell $35 to ...

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Ukraine sailor permits seen crucial for grain exports, global shipping

Ukraine’s decision to allow its seafarers to leave the country despite wartime restrictions will free up vital manpower for both Ukrainian grain exports and the wider global shipping industry, industry figures told Reuters. The move, officially confirmed this week, is part of efforts by Ukraine to maximise its grain shipments via a UN-brokered corridor through the Black Sea, which lifted a Russian blockade of Ukraine’s south coast when came into effect in early August. “We understand that the grain corridor depends on them (seafarers) and the world of international logistics ...

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Ukraine sunseed exports could fall by 29%, APK-Inform says

Ukraine’s sunflower seed exports in the new 2022/23 September-August season could fall by 29% to 1.1 to 1.2 million tonnes if its Black Sea ports remain open, analyst APK-Inform said on Wednesday. Alternatively, if the ports are shut, exports of sunseeds may be preferred over grain, with 2022/23 sunseed exports seen rising to up to 3 million tonnes from 1.63 million last season, APK-Inform said. Ukraine’s agricultural exports have slumped since the start of the Russian invasion because its Black Sea ports, a key route for shipments, were closed off, ...

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Bank of England proposes “more British style” of finance regulation

The Bank of England said on Thursday it would move to a “more British style of regulation” for the country’s huge financial services industry as it seeks to take advantage of Brexit. The BoE’s Prudential Regulation Authority published a discussion paper describing its proposals for policy-making now that Britain has left the European Union. “The move to a more British style of regulation, with technical rules made by regulators rather than set out in law, will enable us to deliver strong prudential standards in a manner that is proportionate, supports ...

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CMA CGM named Best Global Shipping Line at 2022 Asian Freight, logistics and Supply Chain Awards

The CMA CGM Group, a global player in sea, land, air and logistics solutions has been named Best Global Shipping Line at the 2022 Asian Freight, Logistics and Supply Chain Awards (AFLAS) last evening. Voted by industry stakeholders, customers, global shippers and readers of Asia Cargo News, the accolade symbolises their resounding confidence in CMA CGM as the global ocean carrier of choice. 275 shipping services providing an unparalleled global connectivity A member of the Ocean Alliance, CMA CGM facilitates global trade through container shipping to 160 countries in five ...

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e4ships – Fuel cells in maritime applications Shipping industry heads for innovative technology

Innovation is nothing new to the shipping sector. But the scope of the transformation process that has been initiated to decarbonise nearly all shipping traffic opens up entirely new dimensions. Green hydrogen, its derivatives converted to e-fuels and PtX fuels, and the fuel cell systems operating on these fuels on board ships are in focus at the international trade fair for the shipping industry, SMM, where the maritime industrial and innovation cluster ‘e4ships’ highlights application concepts, scientific findings and practical experiences. Facing the escalating climate and energy crisis, the global ...

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Corvus Energy leads innovative research project to optimize combined use of hydrogen fuel cells and batteries in vessel propulsion

Corvus Energy, the world’s leading provider of zero-emission solutions for the maritime industry is pleased to announce that the Company has been selected to lead an IPN project – a program funded by the Research Council of Norway to promote innovation in the industry. Corvus Energy joins forces with research institute NORCE and other partners for the project which has been awarded 13,9 million NOK in funding. The industrial project, titled “Optimized Hydrogen Powered Maritime Mobility” or “OptHyMob” for short, will improve operations of hydrogen-driven marine vessels in order to ...

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Navios Maritime Holdings Inc. Reports Second Quarter Net Income of $45 Million, After Sale of Dry Bulk Fleet

Navios Maritime Holdings Inc., a global seaborne shipping and logistics company, reported financial results for the second quarter and six months ended June 30, 2022. Angeliki Frangou, Chairwoman and Chief Executive Officer, stated, “I am pleased with the results for the second quarter of 2022. In the second quarter of 2022, Navios Holdings reported revenue of $159.2 million, EBITDA of $98.9 million and net Income of $45.0 million.” Angeliki Frangou, continued, “We completed the $835.0 million sale of our dry fleet and used the proceeds to pay down $784.2 million ...

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Deltamarin wins a design contract for a new Estonian ferry

Deltamarin has signed a contract with the Estonian Transport Administration to develop a new concept for a ferry travelling between the big islands and the mainland. “During the tender, we saw great interest in cooperation from leading experienced design agencies in Estonia as well as abroad in this phase of the project. We believe that our cooperation with Deltamarin Ltd will be competent and diverse,” says Valentin Bratkov, Estonian Transport Administration’s Head of the Ship Construction Project. Estonian Transport Administration is a governmental agency that operates within the area of ...

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German economic institutes cut 2023 GDP forecast

Two of Germany’s leading economic institutes lowered their forecast for Europe’s largest economy next year, predicting high energy prices caused by the Ukraine war would take their toll. The IfW institute in Kiel predicted on Thursday that the economy would contract by 0.7% in 2023, a U-turn from its June forecast foreseeing growth of 3.3%. The RWI institute in Essen lowered its 2023 forecast but still predicted growth of 0.8% instead of a previous 2.7%. For the current year, IfW and RWI still expect the German economy to grow, but ...

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MABUX: Bunker Prices Expected to Fluctuate in the Coming Days, But No Upward Trend is Expected to Materialize

Over the Week 36 MABUX global bunker indices showed a moderate decline. The 380 HSFO index fell by 20.05 USD from 572.51 USD/MT last week to 552.46 USD/MT, still below the 600 USD mark. The VLSFO index, in turn, fell by 22.56 USD: from 836.93 USD/MT to 814.37 USD/MT. The MGO index lost 16.75 USD (from 1206.45 USD/MT to 1189.70 USD/MT), dropping below 1200 USD again. The Global Scrubber Spread (SS) weekly average – the price differential between 380 HSFO and VLSFO – fell slightly over the Week 36 by ...

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ZeroNorth unveils single destination for bunker planning, procurement, and analytics: ZeroNorth Bunker

Technology company ZeroNorth has today announced the launch of ZeroNorth Bunker, an integrated solution for bunker planning, procurement, and analytics services. By centralising the entire bunkering process in one platform, and converting millions of real-time data points into actionable insights, ZeroNorth Bunker enables data-driven decision-making across a transparent marine fuel value chain. ZeroNorth is launching ZeroNorth Bunker at a critical time for customers who are facing challenges within the marine fuels supply chain, including elevated prices, increasing volatility, tightening regulation and a complex energy landscape. Thanks to its integration with ...

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Kongsberg Digital and Shell Marine sign MoU to help decarbonize the maritime industry

Kongsberg Digital, a subsidiary of KONGSBERG, and Shell Marine signed an MoU today to work together on new ways to accelerate decarbonization initiatives and assist the energy transition in the maritime industry. During the international maritime trade fair SMM this week in Hamburg, Kongsberg Digital and Shell Marine signed an MoU to strengthen their service offerings to the maritime industry by developing joint solutions, enhancing their service portfolios, and identifying pilot projects to test their combined capabilities. “The energy transition for the maritime sector will involve new types of fuel, ...

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