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There’s Still Hope for U.K. Financial Services in Brexit Deal

The U.K. shouldn’t give up hope of getting financial services included in a final trade agreement with the European Union, with a Bloomberg survey of the EU’s 27 remaining governments revealing divergences of opinion. While nearly all of the EU’s capitals consider maintaining unity of the bloc their main priority, a few take a softer line on financial services than the one expressed by Michel Barnier, the EU’s chief Brexit negotiator. Barnier has said there can be no easy access to the bloc’s single market for U.K. financial companies because ...

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Tanker Market Rates 15/01/2018

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

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Chinese iron ore and steelmaking prices January 15 2018

Morning offers of spot resources generally held steady today.

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Seasure Market Report 12 January 2018

Seasure Market Report 12 January 2018

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Stricken Iranian oil tanker drifts into Japan’s economic zone: coast guard

A stricken Iranian oil tanker drifted into Japan’s exclusive economic zone (EEZ) on Wednesday afternoon, a spokesman for Japan’s Coast Guard told Reuters on Friday, as strong winds pushed the burning ship away from the Chinese coast. The ship, which has been ablaze for almost a week since it collided with another vessel on Saturday night in the East China Sea, was about 300 km (186 miles) northwest of Sokkozaki on the island of Amami Oshima as of Thursday afternoon, a spokesman from the Coast Guard’s 10th region based in ...

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Tired of inaccurate speed through water measurements? Keen on saving a few hundred thousand dollars if not more?

Speed through water (StW) is perhaps the most important variable when looking at the energy efficiency of a vessel and a pre-requisite for any decisions related to evaluating vessel performance or speed related onboard operations. At the same time, it is generally known that the onboard STW logs are one of the least reliable sources of data. According to a study conducted by Eniram among 300 vessels in 2017, a large portion of vessels (65% of cruise vessels) suffer significantly from speed log quality and performance evaluation accuracy is over ...

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OOCL: Trans-Pacific Trade – Service Update

In response to the expected low demand following the Lunar New Year holiday, we would like to inform you of the withdrawal of the following Asia-North America sailings: Pacific China South 1 (PCS1) • APL ESPLANADE (ESP) 287E/288W: ETA Fuqing on February 24 in Week 8 for EASTBOUND, and ETA Los Angeles on March 18 in Week 11 for WESTBOUND • Service resumes with CMA CGM T. JEFFERSON (GJE) 289E/290W: ETA Fuqing on March 3 in Week 9 for EASTBOUND, and ETA Los Angeles on March 25 in Week 12 ...

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Announcing New Simrad® NSO evo3 Navigation System: New Simrad NSO Model Offered as an Integrated Display

Simrad Yachting – a leader in the design and manufacture of world-class marine navigation, autopilot, radar, communications and fishfinding systems – announced today the new NSO evo3 navigation system, the premier integrated display solution for larger cruising and sportfishing boats. The new NSO evo3 design simplifies installation, while preserving the power and flexibility that make the NSO series the perfect solution for customizing a system for larger cruising and sportfishing vessels. Connect NSO evo3 to Simrad premium network modules and add GPS, autopilot, keypad controllers and other accessories to create ...

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World’s second-largest ore carrier delivered in Shanghai

The second-largest ore carrier in the world was officially named and delivered to China Ore Shipping on Thursday in Shanghai, which experts said will boost Brazil’s iron ore exports. The 400,000-dwt mega ship, Yuanhehai, was delivered to China Ore Shipping, affiliated with China Cosco Shipping Corporation, in Shanghai almost a year after the deal was made in 2016, China News Service reported. The Yuanhehai is the second-generation very large ore carrier (VLOC) designed by Shanghai Waigaoqiao Shipbuilding Company. The delivery was the first ship of the second-generation VLOC. The VLOC, ...

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Port of Virginia Sets New Annual Volume Record in 2017 Having Handled 2.84 Million TEUs

The Port of Virginia® set a new annual record for container cargo volume having handled more than 2.84 million twenty-foot equivalent units, or TEUs, a 7 percent increase over last year’s total. In 2017, loaded import and export volumes were up 8.6 percent and about 1 percent, respectively, over the prior year. The port saw increases in TEUs, truck volume, rail volume and total volume at Richmond Marine Terminal (RMT), the port’s growing barge terminal on the James River. Further, the port saw the number of new import vehicles (cars) ...

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Trump Told Ports Need Investment

A US ports coalition has urged President Trump “not to overlook” ports as federal infrastructure investments plans are made. The group said that “outdated” port infrastructure threatens to interrupt the supply chain and the country’s economy and the development of a national strategy for infrastructure investments is a key time to address this. In a letter to President Trump, the group, made up of Port Authority of New York & New Jersey; Port of Long Beach; Port of Los Angeles; terminal operators Ports America Group and SSA Marine; the Agriculture ...

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S.Korea’s WP seeks to buy nearly 1.48 mln T coal for March-May

Korea Western Power Co Ltd (WP) is seeking to buy a total of 1.477 million tonnes of coal for shipping between March and May, the state-run utility said on its website (www.iwest.co.kr/eng/.) The tender will close at 0100 GMT on Jan. 18, and other details are as follows: Source: Reuters (Reporting by Haejin Choi; Editing by Subhranshu Sahu)

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India: Miners seek export duty abolition on iron ore up to 62% Fe content

The mines industry has sought abolition of the 30 per cent export duty on iron ore with up to 62 per cent ferrous content. It wishes to export the surplus stock. At present, there is nil export duty on ore with up to 58 per cent ferrous content. Federation of Indian Mineral Industries (Fimi) and Goa Mineral Ore Exporters Association have both sought the duty abolition. In a presentation to the central government, Fimi has said: “Since there is no domestic demand for iron ore up to 62 per cent ...

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South Korea’s ethanol imports jump 39% on year to 261,584 mt in 2017

South Korea’s ethanol imports increased 39% year on year to 261,584 mt in 2017, according to data released Thursday by Korea Customs Service. Imports of denatured ethanol surged by 238% over the year to 117,782 mt in 2017. The US remained the key import origin last year, accounting for 78% of total imports, followed by Pakistan at 10% and South Africa at 6%. Undenatured ethanol imports however, fell 6% year on year to 143,802 mt in 2017. Australia overtook Brazil as the largest supplier of undenatured ethanol last year, accounting ...

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Venezuela’s crude sales to the U.S. fell below 600,000 bpd in 2017

Venezuela’s crude oil sales to the United States fell for a second month in a row in December, knocking the year’s average to 593,047 barrels per day (bpd), the lowest annual level since 1991, according to Thomson Reuters trade flows data. A severe production drop in the South American country has hurt its oil exports and domestic refining, and worsened an economic recession now entering into its fifth year. Venezuela’s state-run oil company PDVSA is mired in a widespread corruption investigation that has stalled decision making. Financial sanctions on Venezuela ...

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