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Xinjiang sees increasing export of agri-products to central Asia

Urumqi Customs in northwest China said they handled the export of 3.89 billion yuan (558 million U.S. dollars) worth of agricultural products in 2018, up 4 percent year on year. The agri-product export mainly to central Asian countries was 441,200 tonnes last year, according to Urumqi Customs, which administers customs affairs of Xinjiang Uygur Autonomous Region. Since 2013, express clearance services have been offered to agricultural products through four ports on the border with Kazakhstan, Tajikistan and Kyrgyzstan. Urumqi Customs administers three aviation ports in Urumqi, Kashgar and Yining and ...

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Long winter’s nap? Global slowdown, market fears could extend Fed pause

Ebbing global growth and shaky financial markets threw the U.S. Federal Reserve off course in early 2016, and it took nearly a year for officials to regain confidence growth would continue and convince investors they would again raise interest rates. Similar conditions confront Fed policymakers as they meet this week, with market skepticism about further rate hikes as deep as it was three years ago, and a stalemate over global trade, a U.S. federal government shutdown, and waning business and consumer confidence further clouding the picture. Policymakers have been clear ...

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UK retailers warn no-deal Brexit would risk food security – BBC

Britain’s food security could be threatened by a no-deal Brexit, the BBC quoted a retailers’ industry group as saying on Monday. A spokesman for the British Retail Consortium (BRC) declined to comment on the BBC report but said the BRC had previously warned of risks of leaving the European Union without a deal, including the risk of higher food prices. Source: Reuters (Writing by William Schomberg; editing by James Davey)

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Greek bond yields hit four-month low on Macedonia accord

Greek 10-year borrowing costs dropped to a four-month low on Monday after the country’s parliament approved a deal last week that changes the name of neighbouring Macedonia, ending a 28-year row and paving the way for a five-year bond sale. Greece’s parliament on Friday ratified an accord over the use of the term “Macedonia” that would see the tiny Balkan state renamed “Republic of North Macedonia”, unblocking after decades the ex-Yugoslav republic’s aspirations to join the European Union and NATO. In addition to ending political uncertainty, it also meant the ...

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ECB monetary policy needs to remain ‘substantially accommodating’ – Visco

Bank of Italy Governor Ignazio Visco said on Monday that for Italy’s economy to pick up the European Central Bank must avoid significant monetary tightening and Rome must pass growth-enhancing reforms. “We have growth difficulties that are above all cyclical,” Visco, who sits on the ECB’s governing council, said at a book presentation in Pisa. “We need to tackle these by keeping ECB monetary policy substantially accommodating and through structural interventions.” Italy’s economy contracted in the third quarter of last year and the Bank of Italy has forecast that fourth ...

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China-Australia trade growth slows as bilateral political discord takes bite

The growth of Australia’s trade with China shrank by more than two-thirds in 2018 amid strained political ties, and analysts said on Sunday it remains to be seen how bilateral trade will perform in 2019. On January 23, China’s General Administration of Customs (GAC) released figures showing that Australia’s trade with China stood at 1 trillion yuan ($149.3 billion), up 8.9 percent year-on-year. That growth figure was nearly 30 percent in 2017. China’s exports to Australia grew 11.4 percent while imports were up 7.8 percent. The growth rates were dismal ...

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America takes the lead on cleaner ship fuels

In 2020, we will see the first-ever worldwide shift to a cleaner transportation fuel, when global shipping and fuel providers will complete a 13-year plan to adopt cleaner marine fuels. Led by the United States, nations at the International Maritime Organization (IMO) agreed in 2008 to limit sulfur in residual petroleum for ships. Cleaner ship fuels represent a shared achievement for communities, for shipping and energy sectors, and for the economy. The United States should not lose sight of these benefits. International shipping of global trade is changing. Fleets are ...

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Ice-class condensate tanker arrives in Murmansk, ends historical voyage through Arctic route

The 214 meter long tanker on Friday afternoon arrived in Murmansk after a 6-week voyage from Nansha, China. The new-built vessel on the 11th December left the Chinese Guangzhou Shipyard and set course towards the north. It was quickly joined by new LNG carrier «Boris Davydov», a ship constructed at the Daewoo Shipbuilding and Marine Engineering (DSME) yard in South Korea. Few days later, the two ships together sailed through the Bering Strait and into the Chukchi Sea. The ships subsequently broke their way through the East Siberian Sea, the ...

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Safer through self-reflection

The seafarer of today is evaluated on their performance on a near daily basis, this is by either another person or by technology. But perhaps the most valuable and often overlooked evaluation of an individual is by themselves. In other words, self-reflection of one’s own performance. The Cambridge Dictionary defines self-reflection as ‘the activity of thinking about your own feelings and behaviour, and the reasons that may lie behind them’. So, what does this mean and how can it help you to be safer at work? In practice self-reflection is ...

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Shipbuilding sector in Qatar witnessing huge growth

Qatar’s shipbuilding sector is witnessing strong growth with sharp rise in the number of ships coming for repair at the shipyard. The number of ship repairs at N-KOM has increased by 25 percent in the first half of 2018 at the world-class Erhama bin Jaber Al Jalahma Shipyard compared to the same period last year. Widely known as experts in handling gas carriers and a variety of other vessels, N-KOM continues to win new and repeat clientele with its track record of safe, quality and timely deliveries. Established in 2007, ...

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Green fuel in Rotterdam to receive funding boost

The Port of Rotterdam has made €5 million available via its Climate-Friendly Shipping scheme to fund maritime projects using low- and zero-carbon fuel. Shipping companies, fuel and engine manufacturers and suppliers and shipping service providers operating out of the Port of Rotterdam will be able to access the funding if their project relies on green fuel options. The scheme, which will run until 2022, will focus on fuel projects which will reduce CO2 emissions by more than 50 per cent, including renewable and low-carbon fuels; though projects based around biofuels ...

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Record year for the Port of Brussels in 2018

The volume of cargo handled at the Port of Brussels reached an all-time record in 2018, topping 5 million tonnes for the first time since the port’s creation as a regional entity 25 years ago. The port’s own cargo traffic increased by 375,000 tonnes (+7.7%) over 2017 but transit traffic was slightly down (-15,000 tonnes), giving a total increase of 5.2% and bringing the total volume of cargo offloaded and onloaded at the port in 2018 to 7.3 million tonnes, the port’s management indicated on Friday in its latest performance ...

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Explosive growth in Russia’s Arctic seaports

Goods volumes across the Russian Arctic were up almost 25 percent in 2018, information from the Russian Transport Ministry shows. A total of 92,7 million tons was handled by regional seaports, of which almost 70 percent was oil products and liquified natural gas. The by far biggest growth is found in Sabetta, the port handling liquified natural gas produced by Novatek in the grand Yamal LNG project. The port located on the northeastern tip of Yamal Peninsula in 2018 handled a total of 17,4 million tons of goods, an increase ...

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Venezuelan oil exports to U.S. still a primary source of cash

Venezuela’s oil exports to the United States remain the primary cash resource for its state-owned oil company, and efforts by the United States to cut off that revenue would likely force it to send crude to China, India or other Asian countries. U.S. refineries that depend on Venezuela’s heavy crude would have even more trouble securing supplies as Canadian and Mexican crude are often not as discounted and are limited in availability. The United States has considered moves to cripple Venezuela’s oil shipments, which account for nearly all of the ...

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Analysis: Malaysia’s RAPID to boost Asia’s product supply and Saudi crude oil flows

The start-up of the 300,000 b/d Refinery and Petrochemical Integrated Development, or RAPID, project in Malaysia will boost Asia’s refining capacity growth in 2019, increase Saudi crude inflows to the region and add to the supply of refined petroleum products. The RAPID facility, operated by Pengerang Refining and Petrochemical or PRefChem, a joint venture between state-run Petronas and Saudi Aramco, is among the largest greenfield oil refineries to start operations in Southeast Asia in recent years, supplementing the existing refining hub in adjacent Singapore. It underscores the shift of global ...

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