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Emerging Asia propels world stocks to new high

A weak U.S. dollar combined with upbeat Chinese data to lift emerging market and Asian shares to levels not seen in more than two years and global stocks to an all-time high on Wednesday. With the world’s most widely-used currency near a 10-month low and bond yields slipping, it is cheaper for emerging countries to service their debts investor appetite for riskier assets such as equities has risen. After decent gains in Asia on the back of positive signs from global economic powerhouse China, MSCI’s world stocks index looked set ...

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Pound Traders Set Brexit Bets as Key Summit Comes Into Play

What will Brexit look like in three months’ time? Pound traders are trying to figure it out. Wednesday marks three months until a key European leaders meeting that could shape the final divorce. That means benchmark three-month sterling volatility will start to cover the Oct. 19-20 summit for the first time. Traders need to gauge how a German election, three months of talks and political feuds in the U.K. will change the Brexit outlook by then. With discussions resuming in Brussels this week, the EU’s chief negotiator Michel Barnier has ...

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After throwing in the kitchen sink, what’s a central bank to do?

Central banks struggling to lift historically low interest rates and rein in stimulus programmes may have more on their minds than just getting back to normal — they are, by some accounts, nowhere near ready to deal with the next recession or crisis. Start with a then-and-now comparison. When the global financial system nearly collapsed about a decade ago, the world’s major central banks launched a series of aggressive counter-measures, including trillions of dollars worth of asset-buying. The global economics team at Bank of America-Merrill Lynch — in a report ...

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Why the case for recession doesn’t add up

U.S. factories, mines and utilities are operating at about 76.6% of their full capacity, which suggests companies could easily increase production. It’s easy to be nervous about the United States these days — its economy, or pretty much anything else about it. So maybe it’s no surprise that some pundits are speculating that we’re headed for a recession: The labor market’s a little too good, the stock market’s a little too high, everything is a little too stable, even if growth hasn’t been very exciting. The U.S. economy’s collar, in ...

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ECB Is Studying Stimulus Options for Possible Fall Decision

While European Central Bank policy makers look forward to a summer break, the institution is quietly working on stimulus plans for them to consider on their return. The ECB’s Frankfurt-based staff are examining scenarios for the future path of quantitative easing ahead of a Governing Council decision that is expected to take place in September or later, according to euro-area officials familiar with the matter. The people asked not to be named as the work is confidential. An ECB spokesman declined to comment. The analysis doesn’t mean a stimulus change ...

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Americans want U.S. goods, but not willing to pay more: Reuters/Ipsos poll

Americans say they love U.S.-made goods. They are less enthusiastic, however, about paying a premium for them. At the AMES Companies Inc factory here, the wheelbarrows coming off the assembly line once every six seconds cost the company more to make in the United States than abroad, but U.S. retailers generally will not charge more for them because consumers would balk, AMES President Mark Traylor said. Nearly all U.S. manufacturers face the same squeeze. A Reuters/Ipsos poll released on Tuesday found 70 percent of Americans think it is “very important” ...

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How to squeeze a supertanker into the Panama Canal

A year after a new and expanded Panama Canal opened to the world’s shipping industry, for the world’s largest oil tankers the famed 48-mile route still remains too small. According to a report by the research firm Morningstar, “the impact of the expansion on energy shipments so far has varied by commodity.” “Flows of liquefied petroleum gas, or LPG, and liquefied natural gas, or LNG, traveling south through the canal from the U.S. Gulf to South America and Asia have increased substantially. At the same time, transits of crude oil ...

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Implementing the Sustainable Development Goals

IMO has a key role in implementing a number of UN Sustainable Development Goals (SDGs) which relate directly or indirectly to the oceans, protection of the environment and the maritime industry. How to support the 2030 Agenda for Sustainable Development and implement the UN SDGS is therefore a key theme which underpins the work of IMO’s Technical Co-operation Committee, which oversees IMO’s integrated technical co-operation programme (ITCP). The Committee is meeting for its 67th session (17-19 July). The Committee will be invited to approve the proposed ITCP for 2018-2019, which ...

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Liberia Gets International Maritime Organization Second Highest Position

Lawrence Dehniah Barchue, Sr., is the International Maritime Organization Assistant Secretary General/Director, Department for Member State Audit and Implementation Support. Following our graduation in 1976 from the College of West Africa in Monrovia, Lawrence Dehniah Barchue, Sr. enrolled at the University of Liberia, where he pursued studies in Civil Engineering for little over a year before travelling to the US. He graduated in 1982 from Maine Maritime Academy, Castine, Maine, USA with a B.Sc. (Honours) in Marine Engineering and a minor in Marine Industrial Management. In 1991, he obtained his ...

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Sloman Hestia joins the Brizo8 Pool

CHEMICALS 17: 07: 17 We are pleased to welcome the latest addition to our growing pool: Vessel: Sloman Hestia Yard: Jiangxi Jiangzhou Built: 2017 Deadweight: 16,421 Source: Navig8 Group

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Nigeria loses $1.5bn to piracy monthly, says Dogara

Yakubu Dogara, speaker of the house of representatives, says Nigeria loses an estimated sum of $1.5 billion to piracy monthly. Dogara said this on Monday while opening a public hearing on the bill to amend the maritime operations coordinating board act. The speaker said according to 2012 reports, the number of vessels attacked in the West African sub-region had reached a world record high. He said the increasing attacks in the Gulf of Guinea has given countries in the sub-region a negative image. “The increasing level of attacks and violence ...

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Cosco Shipping Hol (CICOY) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Cosco Shipping Hol (NASDAQ:CICOY) from a buy rating to a hold rating in a research report sent to investors. According to Zacks, “China COSCO Holdings Company Limited is engaged in providing container shipping, dry bulk shipping, logistics services, terminal and container leasing for both international and domestic customers. The company engages in the management and operation of container terminals; provision of integrated logistics services, including third party logistics shipping agency and freight forwarding; and container manufacturing business. China COSCO Holdings Company Limited is based ...

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Port of Salalah to add dedicated jetty for LPG exports

Oman’s Port of Salalah plans to add a dedicated jetty for liquefied petroleum gas (LPG) exports as part of its infrastructure enhancements, said a senior official of the port. The new jetty, designed to support the export of LPG from a new LPG extraction plant under development at the adjoining Salalah Free Zone, will underpin the port’s evolution into a global hub that will serve a diverse variety of product and cargo streams, Ahmed Akaak, deputy CEO, Port of Salalah, was quoted as saying in an Oman Daily Observer report. ...

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Catalyst needed to drive Westports’ growth

Larger-than-expected shifts in United Arab Shipping Co’s (UASC) and CMA CGM’s throughput to Port of Singapore Authority (PSA) have resulted in lower trans-shipment volume. Westports Holdings Bhd experienced a 3% decline in overall total container volume in April to May 2017 (trans-shipment down 5% but gateway up 3%). Recent share price weakness has priced in the negative news, in our view. We believe Westports still has competitive advantages compared with its peers, but lower container volumes in 2017 and 2018 limit immediate upside. There was lower demand from UASC and ...

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Hambantota Port deal signing next month

The Government had, more or less, finalised the agreement for leasing out the Hambantota Port to China Merchants and was planning to strike the deal shortly, sources told the Daily Mirror yesterday. According a government source, two separate companies would be formed to deal with administrative and commercial operations of the port. The majority equity of the company to be formed for administrative operations would be vested with the Sri Lankan side. Therefore, the source said there would be no need to amend Sri Lanka Ports Authority Act as a ...

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