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High Stakes For Subsea Markets If Oil Price Slides

The subsea market in 2019 will experience year-on-year growth for the first time since 2014, but the positive outlook is vulnerable to any significant decline in oil prices over the next few years. “We expect the subsea market to thrive during the coming years, but market growth will be at risk if the oil price falls to $50 per barrel,” says Henning Bjørvik, an analyst on Rystad Energy’s oilfield service team. Rystad Energy, the independent energy research and consulting firm headquartered in Norway, has analyzed the outlook for global subsea ...

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Oil shrugs off ME tensions

A lot is happening. Fireworks are all around the ‘crude’ scene. Yet, and, this is a big yet: oil markets continue to remain unfazed. Saudi oilfields are on the firing line. They are being targeted, by land, air, and sea. A drone attack by the Yemeni Houthis last week caused fire at one of the oil and gas fields in Saudi Arabia. The Saudi Energy Minister Khalid al-Falih later underlined the damage caused by the explosive-laden drones was limited to a processing unit of the natural gas processing plant at ...

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Bullish EIA Data Unable to Stop Natural Gas Price Slump

The U.S. Energy Department’s weekly inventory release showed a smaller-than-expected increase in natural gas supplies. However, the positive sentiment was overwhelmed by unfavorable short-term temperature prediction and rising production, which led prices to squeeze down. A Smaller-than-Expected Increase in Supplies Stockpiles held in underground storage in the lower 48 states rose by 59 billion cubic feet (Bcf) for the week ended Aug 16, below the guidance (of 61 Bcf gain). However, the increase was higher than the five-year (2014-2018) average net injection of 51 Bcf and last year’s addition of ...

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World shares gain on flickering trade hopes

World shares gained on Tuesday as some investors held out hopes for a trade deal between the United States and China, even though they continued to raise tariffs on each other last week. Shares in Asia followed U.S. stocks higher on Monday, after U.S. President Donald Trump predicted a trade deal with China. European shares recovered to trade higher after opening lower. Automakers and Italian stocks boosted the pan-European STOXX index, which was up 0.3% by midday in London. Germany’s DAX rose 0.4% and France’s CAC 40 gained 0.2%. Italy’s ...

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Germany in Uproar as Negative Rates Threaten Saving Obsession

Most Germans live by the credo that saving is a virtue, but the European Central Bank’s negative interest rates risk making a mockery of the national obsession, prompting politicians to seek ways to insulate thrifty citizens and keep the burden on the country’s beleaguered banks. Finance Minister Olaf Scholz says he’ll look into whether it’s possible to prevent German banks from charging most retail-banking clients for deposits, after such a measure was proposed by the leader of Bavaria. Lenders have rejected the idea, saying bans don’t ultimately help clients and ...

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Nearly 100 companies move to Netherlands ahead of Brexit – Dutch agency

Nearly 100 companies have relocated from Britain to the Netherlands or set up offices there to be within the European Union due to the United Kingdom’s planned departure from the bloc, a Dutch government agency said on Monday. Another 325 companies worried about losing access to the European market are considering a move, the Netherlands Foreign Investment Agency said. “The ongoing growing uncertainty in the United Kingdom, and the increasingly clearer possibility of a no deal, is causing major economic unrest for these companies,” said Jeroen Nijland, NFIA commissioner. “That ...

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Why The Rest Of The World Could Push The U.S. Into A Recession

As the old saying goes, “When America sneezes, the rest of the world catches cold.” But these days, with the rise of other economies and globalization, could the reverse be true? In the past, economic problems abroad were at best curiosities for the U.S. None of them was sufficient to rattle the dominant American economy, which continues to be the world’s largest at an estimated $21.3 trillion. In 1997, it was the Asian Tigers in trouble. In 1998, it was Russia. In 2011-14, it was the southern tier of Europe. ...

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China aims to modernise industrial chains – top economic meeting

China aims to modernise its industrial chains and boost self-reliance, state television said, citing a top-level economic meeting chaired by President Xi Jinping. China will support collaborations between upstream and downstream manufacturers to tackle key technologies in order to form higher value-added industrial chains, China Central Television said. Its northeastern region would have to diversify industries and push for reform in the state-owned sector, officials at the meeting said. Source: Reuters (Reporting by Beijing Monitoring Desk; Editing by Clarence Fernandez)

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As U.S.-China trade war deepens, can Corporate America handle the uncertainty?

U.S. China tensions over trade policy have reached a boiling point, the only question remaining is whether business executives — and the stock market — can stand the heat. On what was supposed to be a day focused on Federal Reserve policy, international trade stole the spotlight Friday as investors focused on China’s announcement new retaliatory tariffs, which President Trump responded to with unusually strong rhetoric, saying U.S. companies were “hereby ordered to immediately start looking for alternatives to China.” The further upping of trade barriers, along with Trump’s forceful ...

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Trump’s De-escalation May Reduce Peak Shipping Disruption

The U.S. Trade Representative has detailed a revised set of plans for the implementation of additional tariffs on Chinese exports. There will be a split between so-called “ list 4A“, where tariffs will be applied at a 10% rate from September 1, and “ list 4B” covering almost all remaining products where the duties will be applied from December 15. Panjiva analysis shows that list 4A imports were worth $108.8 billion in the 12 months to June 30. The largest product groups include apparel worth $38.8 billion and TVs/monitors worth ...

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MABUX: Bunker market this morning, Aug 27

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) changed insignificant and irregular on Aug.26: 380 HSFO – USD/MT – 361.73(+0.85) 180 HSFO – USD/MT – 406.61(-0.43) MGO – USD/MT – 639.02(-2.75) Meantime, world oil indexes also changed sideways on Aug.26, after the United States and China both suggested they could ease up in a trade war that has undermined the outlook for the global economy and crude demand. Brent for October settlement decreased by $0.64 ...

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Product-tanker shipping’s long and winding road

Executives and analysts have been calling the products tanker recovery for years. They’ve been wrong for years. This time, it’s finally happening, maintained Kim Ullman, chief executive officer of Sweden’s Concordia Maritime (NASDAQ Stockholm: CCOR-B). “We are convinced that rates are going to go up,” he asserted. “The turning point has happened. It’s going from big losses in 2018 to small profits in 2019 and then we expect things to take off.” During an in-depth interview with FreightWaves, the tanker boss explained why he’s so optimistic about a sector that ...

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As shipping goes green, banks are keeping up

The shipping industry is undergoing unprecedented change as it adapts to impending limits on gas emissions. International Maritime Organisation (IMO) regulations require sulphur content in fuel used by the 70,000 vessels on the water to drop from 3.5 percent to 0.5 percent by January 1, 2020. The purpose is to clean up shipping, responsible for 90 percent of global cargo transportation. If it does nothing, the industry will emit as much as 15 percent of the world’s greenhouse gases by 2050, up from 2 percent today. Shipowners have two immediate ...

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Ocean Yield Announces Successful placement of new hybrid capital

Ocean Yield ASA (“the Company”) has successfully completed a new perpetual hybrid callable bond (“Hybrid Bond”) issue of USD 125 million, carrying a coupon of 3 months LIBOR + 6.50 % p.a. with quarterly interest payments. The Hybrid Bond issue attracted strong interest and was well oversubscribed. The net proceeds from the Hybrid Bond will be used for general corporate purposes including new investments. The Hybrid Bond will be accounted for as book equity and is subordinated to the Company’s outstanding senior unsecured bonds. Arctic Securities AS, DNB Markets, Nordea ...

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UK Freight Tonnage Defies Trade Uncertainty

The UK saw stable port freight tonnages overall in 2018, the Department for Transport’s (DfT) Annual UK Port Freight Statistics show. Data for 2018 shows stable port freight tonnages overall, with only a 0.1% difference on the previous year at 483.3m tonnes, said the British Ports Association (BPA). The figures detail 95% of UK physical imports and exports, which are facilitated by ships using British ports. Phoebe Warneford-Thomson, policy and economic analyst at the British Ports Association, said: “Despite a temperamental global trading climate and the uncertainties created by Brexit, ...

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