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What the energy world looks like in 2030

The world we live in today is very different to 10 years ago. What change will this decade bring? I asked our analysts – across energy transition, power and renewables, macro oils, petrochemicals, gas, upstream, corporate, economics, metals and mining – to imagine what 2030 looks like. Here’s what they see. Technology – brave new world The world is decarbonising, the nascent technologies of 2020 now mainstream. Energy storage, at scale, is crucial in balancing a power market dominated by intermittent solar and wind. New generation cobalt-light, high-nickel lithium-ion batteries ...

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China flexes oil refining muscle, upping pain for Asian rivals

China is set to further expand its massive oil refining capacity this year, offering support to global oil prices, and U.S. producers in particular, but its plans spell more gloom for Asia’s hard-hit refining industry. Already the world’s No.2 oil refiner after the United States, China added 800,000 barrels per day (bpd) of capacity last year – 80% of the United Kingdom’s refinery throughput – and analysts expect a further 460,000 bpd to become operational in 2020. Domestic demand, however, has failed to keep pace. Chinese exports of diesel, gasoline ...

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Stocks Tumble Again as Coronavirus Spread Picks Up

Stock markets across Asia fell on Thursday, with investor sentiment remaining weak on fears of an increasingly severe outbreak of the coronavirus that originated in central China. Hong Kong’s benchmark Hang Seng Index dropped 2.65%, led by hardware-manufacturing, casino and financial stocks. It was the index’s second day of losses after the market reopened Wednesday following the Lunar New Year holidays. The Hang Seng has now fallen 5.4% this week. Japan’s benchmark Nikkei 225 closed 1.7% lower, and South Korea’s KOSPI dropped 1.7%. Markets in mainland China remain closed and ...

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Yen, franc gains on China virus fears; yuan tumbles

Euro, Hong Kong dollar, U.S. dollar, Japanese yen, pound and Chinese 100 yuan banknotes are seen in this picture illustration The rising death toll from a virus spreading in China sent investors scurrying to the shelter of the Japanese yen and the Swiss franc while China’s yuan tumbled to a one-month low. The Chinese yuan in the offshore market , widely considered as a barometer of risk sentiment toward Chinese assets as mainland and Hong Kong markets are shut, tumbled to a one-month low below the psychological 7 yuan per ...

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China’s January factory activity seen stalling as virus adds to risks

Growth in China’s sprawling manufacturing sector likely stalled in January after two months of modest gains, with an outbreak of a new virus adding to risks facing the already struggling economy, a Reuters poll showed. More than 130 people have died from the virus in China in the last few weeks and nearly 6,000 have been infected, prompting widespread transport curbs and tough public health measures that are weighing heavily on the travel, tourism and retail sectors. The official Purchasing Managers’ Index (PMI) for January is expected to fall to ...

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Morgan Stanley warns coronavirus could drag on global, Chinese GDP growth

Morgan Stanley said the coronavirus outbreak in China was likely to hurt global growth in the near-term and could shave up to 1 percentage point off Chinese growth in the first quarter. Assuming the coronavirus peaks in February or March, global economic growth could be reduced by 0.15 to 0.3 percentage point during the first quarter, the bank said. The United States and Japan flew their nationals out of China’s virus epicentre on Wednesday, and some big-name airlines suspended flights, as deaths leapt to 133. “There should be some adverse ...

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Fed Holds Benchmark Rate Steady

The Federal Reserve left its benchmark interest rate unchanged on Wednesday and reaffirmed its make-no-moves posture. Officials last month signaled they were comfortable holding rates steady while they gathered evidence on how three rate cuts last year had cushioned the economy against a global growth slowdown. Wednesday, they maintained that view in their postmeeting statement by repeating nearly verbatim the policy outlook expressed in December. The statement Wednesday offered a mixed assessment of the economic outlook. It described consumer spending as moderate, a downgrade from “strong” in December, and said ...

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Five Positive Things Happening In China’s Economy

Despite the novel coronavirus sweeping through China at break-neck speeds, the country has numerous things going for it. The phase one trade deal is barely one of them. External factors aside, here is what will keep China an economic power impossible to ignore for years to come, according to Nordea Asset Management, one of the biggest wealth management firms in the Nordic countries of Europe, with over 9 million clients and $224 billion in assets under management. In particular, Nordea outlines five things China investors consider positives in the short-to-medium ...

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Tanker Market Rates 30/01/2020

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

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NYK Establishes First Exclusive RORO Terminal in Egypt

NYK, together with Bolloré Africa Logistics (Bolloré) and Toyota Tsusho Corporation (Toyota Tsusho), has signed an agreement with the General Authority for the Suez Canal Economic Zone to set up and operate a dedicated automotive terminal at East Port Said in Egypt. The automotive market in Egypt is expected to expand along with population growth and economic development, and the Alexandria port, which currently handles almost all of Egypt’s vehicle imports, is a multipurpose port that sees a variety of cargo and lacks storage space. Therefore, the new dedicated automotive ...

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Alpha Ori Technologies Secures Iso Information Security Certification As Cyberattack Threat Grows

The commitment of Alpha Ori Technologies to world class information security protocols in the face of rising cybersecurity risks has been recognised by the International Organization for Standardization (ISO). Alpha Ori, which digitally enables shipping companies through the deployment of cutting-edge technology, has been awarded ISO 27001:2013, a globally recognized standard that certifies the successful establishment, maintenance and continual improvement of a company’s Information Security Management System (ISMS). Alpha Ori’s ISO 27001:2013 certification confirms that the digital shipping specialist has put in place a system of technical, administrative and physical ...

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With Mexican EQUIMAR joining the Logimatic family, SERTICA is expanding further in Latin America

Mexican based EQUIMAR is implementing the fleet management system SERTICA to optimize the performance of their tugboats operating in Latin America. The tugboat company EQUIMAR is implementing SERTICA modules for maintenance, procurement and HSQE. With a fleet currently consisting og 5 tugboats operating from Puerto Progreso Yucatan in México, EQUIMAR expects the implementation of phase one to be complete by March 2020. Palle Kaastrup from Logimatic is managing the project assisted by Pablo Grez, who is the local SERTICA representative in the LATAM region. Palle tells, “We are quite experienced ...

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Iridium CloudConnect Goes Live, Extending IoT on Amazon Web Services Globally

Iridium Communications Inc. (NASDAQ: IRDM) announced today that Iridium CloudConnect, the first and only satellite cloud-based solution offering truly global coverage for Internet of Things (IoT) applications, is now actively serving customers. This new service combines Iridium® IoT capabilities with Amazon Web Services (AWS) IoT and cloud services extending customers’ IoT reach to the more than 80 percent of the Earth that lacks terrestrial coverage. By combining the unique attributes of the Iridium network with the breadth of AWS supporting infrastructure and services, Iridium customers can reduce engineering time, lower ...

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Huge oil storage expansion planned at Fujairah Port to cope with demand

Brooge Petroleum and Gas Investment Co plans to expand its crude-storage capacity six-fold at the Middle Eastern port of Fujairah to meet “huge” demand at the busiest oil-trading hub in the region. The UAE-based business will sign contracts by the end of the first quarter, or soon after, to lease out the additional capacity, CEO Nicolaas Paardenkooper said in an interview. It will complete a study for the project over the same period and may start construction work by the end of 2020. “The company’s philosophy has always been to ...

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Yusen Logistics builds new smart pharma warehouse in Antwerp

Pharmaceuticals logistics specialist Yusen is expanding its facilities in Antwerp. The Japanese company is starting construction of a new, semi-automated warehouse with 13,000 pallet places at its site on the Left bank. The warehouse will function almost entirely automatically and will be operational 24/7. One of the most striking innovations in the new warehouse is the “narrow aisle racking” system with induction-guided, unmanned trucks that find the correct pallet places with the aid of sensors. Handover of the warehouse is planned for December 2020. Including the new warehouses Yusen Logistics ...

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