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US penalizes shipping firms said to help North Korea circumvent UN sanctions

The US Treasury on Friday announced penalties against Taiwanese and Hong Kong shipping firms it says are helping North Korea circumvent United Nations sanctions. The companies are helping North Korea with “illicit ship-to-ship (STS) transfers to circumvent United Nations (UN) sanctions that restrict the import of petroleum products,” Treasury said. Treasury’s Office of Foreign Assets Control blocked the assets of two individuals and those of Taiwan-based Jui Pang Shipping Co Ltd (Jui Pang) and Jui Zong Ship Management Co Ltd (Jui Zong), as well as the Hong Kong-based Jui Cheng ...

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South Korea Importing More and More Crude Oil from the U.S.

South Korean oil refining companies imported 14.78 million barrels of crude oil from the United States and 11.03 million barrels of crude oil from Kuwait last month, when the former exceeded the latter for the first time in history. Their crude oil imports from Saudi Arabia added up to 24.7 million barrels during the same period. Korea’s crude oil imports from the United States almost tripled in one year from 5.37 million barrels. In addition, the value of the imports reached an all-time high of US$982.9 million. This can be ...

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Russia’s August oil output slightly above level agreed with OPEC+ – RIA

Russia’s oil output in August was slightly higher than levels agreed under its output deal with OPEC+, but Moscow is still aiming to fully comply with the deal, RIA and Interfax news agencies cited Energy Minister Alexander Novak as saying. OPEC and non-OPEC’s joint monitoring committee will meet on Sept. 12 to discuss the market and the global oil output deal in general, Novak was quoted as saying. Source: Reuters (Reporting by Maria Tsvetkova; Writing by Tom Balmforth; editing by David Evans)

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U.S. and China will meet in September, Trump says, but tariff hikes remain

Trade teams from China and the United States continue to talk and will meet in September, but tariff increases on Chinese goods set to go in place on Sunday will not be delayed, President Donald Trump said. The U.S. president, who has alternated between expressing optimism about a trade deal and criticism of China for its economic policies, also said he thought the trade talks had led Beijing to be more restrained in its response to demonstrations in Hong Kong. A tit-for-tat tariff war between the world’s two largest economies ...

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U.S. says no grace period for Chinese imports facing tariffs on September 1

The 15% duties on Chinese imports taking effect on Sept. 1 will have no grace period for goods in transit, U.S. Customs and Border Protection said in guidance on its website. The agency, which collects such duties, said the new tariffs would take effect as planned at 12:01 a.m. EDT Sunday, covering all goods on the list of affected products, including a wide array of consumer electronics, shoes and bed linens. In the past, the agency has offered a short period during which goods that were already in transit could ...

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ECB’s De Cos sees risks to euro growth, says Brexit a major concern

The balance of euro zone growth risks is clearly tilted to the downside, European Central Bank policymaker Pablo Hernandez de Cos said on Saturday, citing a disorderly Brexit as a key risk and acknowledging the ECB’s shortcomings in meeting its inflation goals. De Cos said in a speech in La Granda in northern Spain that Britain’s withdrawal from the European Union “remains a focus of first-order uncertainty for the global economy and, especially, for the rest of the EU. “The most recent events, including the decision to suspend the activity ...

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UKMTO Weekly Piracy Report 25 – 31 August 2019

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

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Tanker Market Rates 01/09/2019

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

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Tanker Market Rates 31/08/2019

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

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European foreign ministers in talks to protect Strait of Hormuz shipping

The foreign ministers of some of Europe’s most powerful countries are to hold talks on Friday on strategies to ensure freedom of navigation in the Strait of Hormuz and preserve the 2015 Iranian nuclear deal. France, Germany, the UK and the EU’s top diplomats will meet in Helsinki amid efforts to encourage greater diplomacy between Iran and the US. Although their meeting has not been officially announced, the four parties are likely to look at ways to support Iran’s ailing economy to ensure it abides by the agreement to limit ...

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Ice on Russia’s Northern Sea Route Has Disappeared, Opening Up Arctic Shipping Lanes

The Arctic shortcut that connects Asia and Europe is open and ice-free and shipping appears smooth, including for vessels without ice class standards. The last pieces of frozen water vanished in mid-August and data shows that the whole route is now free of ice. This includes the East Siberian Sea, a region that normally has the longest-lasting ice cover. The August-October period is peak season for Arctic shipments. But the number of ships in the area still remains low. Figures from Russia’s Northern Sea Route administration say that a total ...

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Wärtsilä’s Auto Gasification solution to provide sustainable waste disposal for Princess Cruises vessel

The technology group Wärtsilä will supply and install an Auto Gasification solution for the ‘Regal Princess’, a Princess Cruises vessel. This innovative technology will enable the safe disposal of waste from the ship through a self-fuelling thermal decomposition unit, thereby significantly reducing greenhouse gas emissions. It will also lessen the requirement to offload waste at shore facilities. Princess Cruises is a Carnival Corporation & plc brand operating as part of the Holland America Group. The order with Wärtsilä was placed in July 2019. The Wärtsilä supplied gasification unit will replace ...

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Singapore Shipping Association wins Best Maritime Organisation Award at the Shiptek International Maritime Awards 2019

The Singapore Shipping Association (SSA) was recognised as the Best Maritime Organisation at the 11th Shiptek International Maritime Awards 2019. The ceremony was held on 29thAugust in the Simpor Ballroom at the Marina Bay Convention Centre, Singapore. On receiving the award, Mr Rene Piil Pedersen, Vice-President and Honorary Secretary of the Singapore Shipping Association said: “We are honoured to be recognised as the Winner in the Best Maritime Organisation category at the 11th ShipTek International Maritime Awards in 2019. An Association is only as strong as its members with their ...

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New Zealand and Australia issue stink bug warning

Why is the Brown Marmorated Stink Bug a problem? The Brown Marmorated Stink Bug (BMSB), or Halyomorpha halys, is an agricultural pest that feeds on, and can severely damage, fruit and vegetable crops. The pest has spread from its native range in East Asia to form established populations in North America and Europe but is not yet established in Australia and New Zealand. If the pest were to find its way to New Zealand or Australia it could seriously harm the countries’ agricultural economies and unique environments. Like the Asian ...

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World’s largest container ship MSC Gülsün to visit Rotterdam

Tuesday, 3 September, between 2 and 3 p.m., the port of Rotterdam expects to welcome MSC Gülsün. The ship will be calling on the APMT2 terminal at Maasvlakte 2 in Rotterdam. With a length of 400 metres and a width of 62 metres, this vessel has a capacity of 23,756 TEU (20-foot standard containers), making it the largest container ship in the world. MSC Gülsün is the first vessel of its kind that can transport 24 containers side by side across the breadth of its hull. Until recently, the 21,413-TEU ...

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