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China stimulus splurge would hurt rating – S&P Global

A credit-fuelled stimulus splurge could hurt China’s credit rating more than the immediate hit from U.S. trade tariffs, S&P Global’s main analyst for the country says. S&P last cut China’s rating a couple of years ago, but it has been almost a year since its last formal review of the world’s number two economy and a lot has happened since. A full-blown trade war has developed with the United States and caused the sharpest slowdown in China’s economic growth in decades. Beijing has been trying to offset the damage with ...

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Germany’s Obsession With Fiscal Prudence Needs to Go

You can have too much of a good thing — even, as Germany proves, financial self-discipline. With the economy on the verge of recession and growth in the wider euro area sputtering out, a strong fiscal stimulus is needed from Berlin. Under conditions like these, fear of public borrowing is the opposite of prudent. The government is running a budget surplus and talking only vaguely about additional spending — at some point, maybe, should the need arise. The need has already arisen. German business confidence has slumped to a seven-year ...

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How we get vehicles through the port – brrm brrm!

Ever wondered how cars, trucks, trains and diggers often come into the City of Sails? Watch and learn.

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Countdown – Blue Port 2019

Countdown – Blue Port 2019

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Timelapse Travaux 2019 Écluse de Tancarville

Timelapse Travaux 2019 Écluse de Tancarville

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Tanker Market Rates 03/09/2019

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

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MARKETS SNAPSHOT FOR 02/09/19

NASDAQ-Adv: 1,621 Dec: 1,546 NYSE-Adv: 1,668 Dec: 1,243 (Source: Nasdaq)

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Oil slides as U.S., China add more tariffs in trade war

Oil prices weakened on Monday after new import tariffs imposed by the United States and China came into force, raising concerns about a further hit to global economic growth and demand for crude. International Brent crude futures settled down 59 cents to $58.66 a barrel, after trading as low as $58.10 during the day. U.S. benchmark WTI crude was down 33 cents at $54.77 a barrel. Activity was thin because of the U.S. Labor Day public holiday. The United States began imposing 15% tariffs on a variety of Chinese goods ...

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Pound dives as UK election speculation mounts before Brexit showdown

Sterling fell sharply on Monday as Boris Johnson summoned his ministers for an emergency meeting, fuelling expectations the prime minister was preparing to call a snap election should lawmakers this week vote to delay Brexit. Opposition lawmakers are expected to propose legislation on Tuesday – the first day back after the summer recess – to force the government to postpone Brexit beyond the Oct. 31 deadline, which Johnson has vowed to stop happening. The Sun newspaper reported that Johnson could call an election as early as Wednesday, and cited a ...

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Dry Bulk Market: Demand Ramping Up Bodes Well for Shipping

The dry bulk market is entering the final period of 2019 on a high note. It’s quite the constrast compared to the early part of the year. In a recent analysis, shipbroker Banchero Costa noted that “in the first 7 months of 2019, the Baltic Capesize, Panamax, Supramax and Handysize TC indices averaged respectively 12,675 USD/day, 9,340 USD/day, 8,559 USD /day and 6,206 USD/day, decreasing respectively by ‐17.6%, ‐16.3%, ‐23.1% and ‐27.7% y‐o‐y from Jan‐Jul 2018”. In terms of vessel activity, the shipbroker said that “benchmark newbuilding prices in July ...

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The future-proof ship

Since the introduction of the first diesel-powered ships in the early 20th century, technology developments in shipping have been steady and incremental. This continuity will end as the industry approaches the year 2050. Decarbonization requirements and the opportunities offered by digitalization will bring about major change. The challenge for a ship built today is that this change will take place within its lifespan. Failure to account for foreseeable regulatory and technology developments may render a ship built today uncompetitive at best; in the worst case it may end up being ...

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Sanctions choke Iran’s crude sales, but oil product exports booming

While U.S. sanctions on Iran’s oil industry have slashed the OPEC member’s crude exports by more than 80%, oil product sales from the Islamic Republic remain strong at nearly $500 million a month, shipping data and Reuters calculations show. Sanctions have barely affected Iran’s exports of oil products, primarily fuel oil used for power generation and shipping as well as liquefied petroleum gas (LPG) used as cooking gas and petrochemical feed. Iran’s product exports reached their highest level in August, oil minister Bijan Zanganeh was quoted as saying by a ...

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Less guesswork concerning post-IMO 2020 marine fuel

Shippers, forwarders and carriers are getting a better idea of costs and data sources as Drewry launches a low-sulphur bunker price tracker. For years, one of the biggest and hardest questions to answer in international shipping has been; what will the new low-sulphur fuel costs from 2020? Everybody – or nearly everybody – agreed that there will be a large, extra cost for the industry and its users. But shippers surveyed by Drewry on the IMO 2020 issue admitted that “data is patchy and confusing” and a high proportion of ...

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Big ocean ships equal big problems but small benefits

Ocean carriers are deploying ever-larger box ships to drive down slot costs and emissions per unit. But they are sacrificing their own flexibility and are driving up costs for ports and truckers. Overall, the hoped-for benefits haven’t appeared and may even be a net negative, analysts say. World’s biggest ship makes its debut The world’s largest container ship, the MSC Gülsün, recently completed its maiden voyage from northern China to Europe, the ocean carrier Mediterranean Shipping Company has said. With a breadth of 60 meters and a length of 400 ...

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China Merchants in Talks to Invest in CMA CGM Port Assets

China Merchants Group is in talks to invest in port assets owned by French shipping company CMA CGM as the state-owned firm seeks to diversify geographically and boost capacity, people familiar with the matter said. China Merchants is considering spending at least several hundred million U.S. dollars on the potential transaction, according to the people, who asked not to be identified because the information is private. It may opt to do the deal through Hong Kong-listed unit China Merchants Port Holdings Co., the people said. Any divestment would help CMA ...

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