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Reasons Why Global Growth Is Speeding Up, Not Slowing Down

Investors and economists are increasingly at odds over the outlook for the world economy. Those trading money worry the low-inflation, solid growth of the past year is coming to an end, leading to nervous equities and bonds. By contrast, economists and policy makers wager the first-quarter slowdown was a blip and that a decent expansion will soon resume. Here’s our weekly wrap of what’s going on in the world economy. Blip Slowdown For the optimists, there are signs of a rebound all over the world. The U.S. is showing more ...

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Tanker Market Rates 22/05/2018

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

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Chinese iron ore and steelmaking prices May 22 2018

China’s spot iron ore prices at ports stay stable.

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Chinese iron ore and steelmaking prices May 21 2018

Spot market prices held stable this morning.

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Tanker Market Rates 21/05/2018

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

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UKMTO Weekly Piracy Report 12 – 18 May 2018

Warnings, advisories and piracy incidents in the Indian Ocean Area by the UKMTO in the past week.

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Tanker Market Rates 19/05/2018

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

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Baltic Dry Index falls to 1273, down 32 points

Today, Friday, May 18 2018, the Baltic Dry Index decreased by 32 points, reaching 1273 points.

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Tanker Market Rates 18/05/2018

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

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Asia to Europe market – FX3: Service rotation changes with an updated port call at Beirut, Lebanon

As part of APL’s continuous efforts to optimize our network coverage, we would like to inform that our FX3 – Far-East Express 3 service will now include Beirut (Lebanon) in lieu of Malta on the eastbound direction. Revised Rotation Qingdao – Ningbo – Yangshan – Yantian – Cai Mep – Singapore – Le Havre – Rotterdam – Hamburg – Antwerp – Le Havre – Malta Beirut – Jeddah – Nansha – Qingdao Effective Voyage CC Christophe Colombo (V.117), ETA Qingdao 08 Apr 2018, ETA Beirut 30 May 2018 Recovery plans ...

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IMO expands

IMO has welcomed a new member. Today (14 May) Nauru deposited its instrument of acceptance to the IMO Convention with the United Nations depositary – becoming IMO’s 174th Member State. Nauru is a Small Island Developing State in the western Pacific Ocean. Source: IMO

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Protection Vessels International: Weekly Maritime Security Report

East Africa and Indian Ocean Eritrea: Merchant vessel reports attack in southern Red Sea 10 May A merchant vessel reported that it came under attack 28 nm off the Eritrean coast in the southern Red Sea at 2315 hrs local time, although further details of the incident remain unconfirmed. The report coincided with unconfirmed reports that a bulk carrier sustained damage after coming under fire from a rocket-propelled grenade (RPG) off Hodeidah. PGI Analysis: The unconfirmed report comes weeks after the Yemeni Houthi militant group claimed an RPG attack in ...

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Business as Usual at Iranian Ports

Despite US withdrawal from the nuclear deal, it’s currently business as usual for foreign container shipping operators at Iranian ports, a deputy head of Ports and Maritime Organization said. “Maersk and MSC are currently reviewing their Iran operations, but that does not mean they have pulled out of Iran,” Hadi Haqshenas added, citing a May 11 Reuters report. “It will ultimately depend on whether Iran can reach an agreement with nuclear deal’s signatories without US.” The world’s top two container carriers have said in separate statements that they ceased taking ...

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“Highest Gains” Predicted For Port Infrastructure

The port infrastructure market is projected to see the highest gains through 2017 to 2025. According to Coherent Market Insights’ Port Infrastructure Market – Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2016–2024, this growth is mainly due to proliferation of sea trade and major infrastructural development investments in the emerging economies of the Asia Pacific and the Middle East. Globalisation has led to more emphasis on international trade activities — which has in turn led to a significant rise in spending for the development of transport facilities including waterways, ...

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Weak currency will further curb Indian palm oil imports: industry

India’s edible oil imports for the year to October 2018 may be nearly flat on 2017 as a weaker rupee adds to the impact of a tax hike on the country’s most imported edible oil, a Mumbai-based trade body said, revising down earlier forecasts. Refiners are still able to import soft oils such as soyoil and sunflower oil at a profit, but imports of palm, which attracts the country’s biggest import duty, have been hard hit, said B.V. Mehta, executive director of the Solvent Extractors’ Association (SEA). “Traders are facing ...

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