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China Cuts Tariffs on More Than 700 Goods Amid Open-Trade Drive

China announced another round of tariff cuts, lowering import taxes on more than 700 goods from Jan. 1 as part of its efforts to open up the economy and lower costs for domestic consumers. There will also be cuts to some export tariffs, and temporary import tariff rates will be as low as zero for some goods, the Ministry of Finance said in a statement on Monday. The ‘temporary’ rates can be changed ad hoc and can be lower than the current Most-Favored Nations standard though they are also available ...

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China’s imports to surpass 2 trln USD in 2018: official

China’s total imports will likely exceed 2 trillion U.S. dollars this year, setting a new record, a trade official said. Song Xianmao, deputy director of the foreign trade department under the Ministry of Commerce, made the remarks at a trade meeting Saturday, adding that multiple measures will be taken to further expand imports in next year. China lowered tariffs on an array of products from medicines to vehicles in 2018, with the general duty level down from 9.8 percent to 7.5 percent. Customs data showed imports increased 14.6 percent year ...

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The World’s Richest People Lost $511 Billion in 2018

The richest people on Earth lost $511 billion this year after record first-half gains were obliterated by a succession of bruising market selloffs. Global trade tensions and worries about a U.S. recession dragged markets lower at year-end, leaving the 500 people on the Bloomberg Billionaires Index with a combined net worth of $4.7 trillion as of Friday’s close. It’s only the second annual decline for the daily wealth index since its 2012 debut, and represents a sharp about-turn from the start of the year, when bullish investors helped propel the ...

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SSY ATLANTIC CAPESIZE INDEX 24 December 2018

The SSY Atlantic Capesize Index fell by 277 points week-on-week to 7,273 points as iron spot rates out of Brazil and West Africa declined. The fronthaul rate (180k dwt) fell by $1,750/day to $28,250/day, however,

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SSY PACIFIC CAPESIZE INDEX 24 December 2018

Sharp declines in Australian coal and iron ore spot rates, including a $2.75/t drop in the W.Australia-China iron ore rate to $6.00/t, saw the SSY Pacific Capesize Index drop by 727 points week-on-week to a four

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Tanker Market Rates 24/12/2018

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

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MMi Daily Iron Ore Index Report December 24 2018

According to market players, the production cuts to the end of this December for sintering machines in Tangshang has been launched from

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Tanker Market Rates 23/12/2018

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

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Tanker Market Rates 22/12/2018

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

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Tortue project

The Tortue gas¬ field is located offshore on the border between Mauritania and Senegal. With an estimated 15 trillion cubic feet of gas,

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ESPO 2018 Investing in the port of tomorrow

What are the main drivers for ports to invest? What are the most appropriate sources of investment to ensure that European ports can continue to play

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SK Shipping union, management up collaboration

SK Shipping’s union and management have agreed to cooperate to get its business back on track by strengthening its financial soundness and securing more corporate clients, the company said. In October, private equity fund Hahn & Company injected 1.5 trillion won ($1.3 billion) into Korea’s fourth-largest shipping company giving it a 71 percent stake. SK Group still has a 16.3 percent in the company, which will continue to transport cargo for SK hynix and other group affiliates. The company is involved in the bulk carrier, petroleum product and crude oil ...

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Mumbai-Colombo bunker fuel price spread widens to 15-month high on ample supply

The price spread between Mumbai and Colombo delivered 380 CST bunker fuel widened to a 15-month high of $35/mt Thursday, and is likely to remain at this peak in the near term due to ample supply in Colombo, according to S&P Global Platts data and trading sources. “There are a lot of cargoes in the market now and people are trying to clear stocks,” a Colombo-based bunker fuel trader said. The price spread between Mumbai and Colombo delivered 380 CST bunker fuel averaged at $28/mt for December to date, widening ...

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New, flexible OCR-engine gets the container codes right every time

Container handling is all about logistics and effective processes. While the general handling of containers at ports and transport hubs has been widely automated, some time-consuming tasks have lacked behind. Documentation is often done by hand or semi-automatic even in the major ports of the world. This is costly and subject to errors. Now the solution is here. The Danish software company ConPDS has developed a flexible and developer-friendly software for digital scanning of container codes. The ConPDS OCR-engine integrates seamlessly with your software solutions, smartphone apps, and logistic systems ...

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New rotation on Asia-Europe Network

With the intention to offer you a stable and reliable cargo delivery, Maersk would like to introduce new changes to our services connecting Asia and Europe. Changes implemented in the second quarter of 2018 have improved the reliability of our schedules. However, port congestions and unfavorable weather conditions have resulted in delays. We are now progressing on the improvements made earlier in 2018 to further enhance our schedule reliability across our Asia-Europe Network. Specifically, the new schedules will have more sailing time between ports which can be used for schedule ...

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