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Analysts confident about China’s economic growth

With implementation of innovative fiscal and monetary policies, and advancement in technological innovation, China’s economy is expected to sustain an upward trajectory this year, analysts have said. China’s economy beat market expectations to advance 6.4 percent year on year in the first quarter, according to data from the National Bureau of Statistics. “This performance was achieved through the government’s expansionary policy measures aimed at maintaining the country’s development trajectory and minimizing negative impact of external factors,” said Gerrishon Ikiara, senior economics lecturer at the University of Nairobi. Apart from fiscal ...

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As U.S. Raises Tariffs, China Faces Nagging Debt Questions

A new round of U.S. tariffs poses a big challenge for Chinese officials trying to manage an already-stumbling economy. Having just pumped heavy doses of stimulus into their system to manage a slowdown, do they now pump in even more and risk exacerbating long-term problems, such as the economy’s heavy reliance on debt? China’s economy buckled last year, and it wasn’t all because of the trade fight with the U.S. Beijing launched a campaign two years ago to crack down on lightly regulated lending sources known as shadow-banking firms. Private ...

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Can Europe Go On Managing Trump on Trade?

As U.S. President Donald Trump imposes punitive tariffs on China, the European Union could be next in line. The EU has been performing a complex balancing act to keep Trump from pouncing. So far it has succeeded – but that may become increasingly difficult. The U.S. leader is due to decide later this month whether to impose levies on car imports, just as formal trade talks are set to start between Washington and Brussels. If Trump hasn’t followed through on his threats against the EU, it isn’t because he sees ...

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Baltic Dry Index climbs to 1026, up 13 points

Today, Monday, May 13 2019, the Baltic Dry Index climbed by 13 points, reaching 1026 points.

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MMi Daily Iron Ore Index Report May 13 2019

A more downbeat trading today with most physical iron ore port stock quotes though some traders found buying appetite

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China’s coastal bulk freight index grows in April

China’s coastal bulk freight market saw an overall demand growth last month, according to the Shanghai Shipping Exchange (SSE). The composite index for coastal bulk freight rose to 1,037.4 in April, up 4.5 percent from a month earlier, the SSE said. The index had averaged 1,004.15 since the beginning of 2019, down from an average of 1,149.05 for 2018. Last month, the sub-index for coal saw the strongest rally of 5.6 percent to stand at 1,066.51, followed by grain and metal ore. The sub-index for crude oil remained flat in ...

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MABUX: Bunker market this morning, May 13.

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) did not have any firm trend on May 10: 380 HSFO – USD/MT – 414.43(-0.07) 180 HSFO – USD/MT – 461.64(0.00) MGO – USD/MT – 655.29(-0.71) Meantime, world oil indexes were mostly steady on May 10, ending last week slightly lower as trade tensions stoked by a U.S. move to hike tariffs on Chinese goods overshadowed tightened global supplies and expectations of rising U.S. refining demand. Brent ...

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Is the worst over for Maybulk?

Could there be light at the end of the tunnel for shipping company Malaysian Bulk Carriers Bhd (Maybulk)? In its annual report for FY2018 released earlier this month, there seems to be some indication that things have taken a turn for the better. In the chairman’s statement, Datuk Capt Ahmad Sufian @ Qurnain Abdul Rashid says, “In 2018, the dry bulk market continued to improve, with freight rates across all shipping segments performing better than in 2017 and significantly above the historical low levels of 2015 and 2016. This was ...

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Saudi Arabia says two Saudi oil tankers attacked near UAE waters

Saudi Arabia said on Monday that two Saudi oil tankers were among vessels targeted by a “sabotage attack” off the coast of the United Arab Emirates, condemning it as an attempt to undermine the security of global crude supplies. The UAE said on Sunday that four commercial vessels were sabotaged near Fujairah emirate, one of the world’s largest bunkering hubs lying just outside the Strait of Hormuz. It did not say who was behind the operation, which took place amid heightened tensions between the United States and Iran. Iran’s foreign ...

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Booming Chinese ports boost worldwide connectivity, prosperity

Nothing better demonstrates the value of interconnection, communication, co-construction and sharing than ports, Luc Arnouts, vice president of the Belgian port of Antwerp, has told Xinhua. “As a Belgian saying goes — putting your hands in the river, you will connect the whole world,” he said on the sidelines of the World Ports Conference 2019 (WPC) that runs from Wednesday through Friday in China’s southern city of Guangzhou. On the eve of the international gathering of port operators, the Dutch port of Rotterdam and the Chinese port of Guangzhou formally ...

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Panama Canal Reports Increased Revenues in First Quarter of 2019

The Panama Canal’s revenues increased by 56.7 million dollars in the first trimester of this year, compared to the same period in 2018, according to preliminary statistics. The National Statistics and Census Institute (INEC) informed that 1.274,3 billion dollars were raised during the above-mentioned period by concept of toll payments from 7,392 ships that used the canal, and that result was achieved amid the reduction of commerce between the United States and China due to their bilateral trade dispute and the world’s economic uncertainty. When braking down revenues from January ...

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Japan refiners tap more oil from Middle East to replace Iran supply

Japanese refiners are tapping more oil from the Middle East after the United States ended all waivers from sanctions on Iran starting from this month. Fuji Oil Co bought 1.5 million barrels of Oman crude, Banoco Arab Medium from Bahrain, and Upper Zakum, an Abu Dhabi grade, to load in June in a spot tender held last month, according to trade sources. “Alternative supplies to Iranian oil for Japan are likely to come mainly from the Middle East given the existing supply chains,” Takayuki Uematsu, senior executive officer at Cosmo ...

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Analysis: Indonesia may no longer require African, South American heavy crude

Indonesia recently decided to source all of its heavy crude oil requirements from domestic field operators as Jakarta continues to find ways to cut its hefty energy import bills — a move that could put an end to the country’s dependency on African and South American supplies. Indonesia imported around 25 million barrels of crude over January-April, almost 50% lower than 48 million barrels received during the same period a year earlier, as the country sharply increased the use of domestic heavy sweet crude, a senior official at state-run Pertamina ...

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No US LNG Exports to China in Recent Months as Trade War Reaches Peak

In an escalation of the US-Chinese trade spat which began in June 2018, the Trump administration increased tariffs from 10 to 25 percent on about $200 billion in Chinese imports on Friday. The past few months have seen no US liquefied natural gas (LNG) vessels arrive in China, which remains the second-biggest importer of the fuel in the world, according to shipping data revealed by the company Refinitiv Eikon. Only two vessels (one in January and one in February) have departed the US, the world’s fourth-biggest LNG exporter, for China ...

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Iranian oil shipments slump in May as US sanctions bite deeper

Iran’s oil shipments tumbled this month after the US ended sanctions waivers that allowed eight governments to buy from the Gulf country. So far, not a single ship has been seen leaving Iran’s oil terminals for foreign ports in tanker tracking data compiled by Bloomberg. China, India, South Korea and Japan were among those allowed to buy about 1mn barrels a day of Iranian crude and condensate, a light form of oil extracted from gas fields, until May 2. Hopes that those exemptions might be extended were dashed, leaving buyers ...

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