Home / Author Archives: hellenicshippingnews. (page 1600)

Author Archives: hellenicshippingnews.

Trade wars tip oil toward biggest monthly drop in six months

Oil was on track for its biggest monthly drop in six months on Friday as U.S. President Donald Trump ramped up trade tensions, weighing on the demand outlook. Brent futures are heading for an 11% slide in May and WTI for a 13% drop, their biggest monthly losses since November. “No notice was taken of data that were positive for prices, whereas mildly disappointing figures put prices under considerable pressure,” Commerzbank analysts said. “This selective reaction is typical of a climate of severe pessimism, as is the fact that market ...

Read More »

Analysis: US gasoline stocks rise as implied demand stumbles

US gasoline inventories climbed 2.2 million barrels last week to 230.94 million barrels despite a drop in production, suggesting lower demand, data released by the Energy Information Administration showed Thursday. While inventories drew on the US Atlantic Coast, home of the New York delivery point for the NYMEX RBOB contract, stocks were higher in the rest of the country. USAC gasoline inventories fell 527,000 barrels to 63.22 million barrels, roughly 1.4% below the five-year average. USGC stocks climbed 1.25 million barrels to 84.71 million barrels, pushing the surplus to the ...

Read More »

China needs it, the US has it, but why might a trade war energy deal not be the easy win it appears to be?

In the second in a series on the trade war, we look at why China’s need for energy security makes a deal with the US on energy more complicated than it may seem. On paper, a healthy energy trading relationship between China and the United States would be mutually beneficial. China is the world’s largest energy importer, while the US is, over the next year, poised to become a net exporter. These simple facts have led many to suggest that a deal on energy trade would be low-hanging fruit in ...

Read More »

Analysis: Australia unlikely to build new oil refineries despite heavy import dependence

The building of new, large oil refineries in Australia is likely to remain uneconomical due to stiff competition from Asian refining hubs and because demand for refined fuel will peak globally in the 2030s, according to an interim report by the Australian government on its liquid fuel security. The report is part of a broader National Energy Security Assessment that includes fuels like electricity and natural gas, and which assesses the impact of human and environmental threats on Australia’s energy markets, Australia’s director of the Department of Environment and Energy, ...

Read More »

Digital forwarders gaining traction in a global forwarding market characterised by uneven change, new Ti report finds

Traditional forwarders must recognise online forwarding disruptors as a catalyst of change – they will rapidly lose customers looking for better visibility, quotation and easy booking options if they don’t. 49% of shippers that took part in a market-wide survey have used an online forwarding platform. By 2023, nearly one fifth (18.7%) of volumes are expected to be booked/shipped through online forwarding platforms, according to survey respondents. Global freight forwarding market grew 3.9% in 2018. Growth slowed from the levels seen in 2017, but the expansion is still one of ...

Read More »

Insight Conversation: Fatih Birol, IEA

Fatih Birol, executive director of the International Energy Agency, spoke to Paul Hickin about the new oil market dynamics unleashed by US shale production, challenges facing Venezuela, and heightened geopolitical risk. In 2012, Fatih Birol predicted that the US would become the largest oil producer by the end of the decade. In an exclusive interview with S&P Global Platts at the IEA headquarters in Paris, Birol did not hold back in outlining the impact US supply is now having on OPEC. The ardent supporter of Turkish soccer team Galatasaray, who ...

Read More »

Stocks shiver, bonds surge on Trump’s Mexico threat

Safe-haven sovereign bonds surged and European stocks tumbled on Friday as investors feared President Donald Trump’s shock threat of tariffs on Mexico risked tipping the United States into recession while disappointing China data added to the woes. The yield on Germany’s 10-year government bond – regarded as one of the safest assets in the world – fell to a record low while U.S. yields slipped to near multi-year troughs. Markets also moved aggressively to price in deeper rate cuts by the Federal Reserve in 2019, parts of the curve inverted ...

Read More »

Political change is in the air, from Europe to India and Australia, and markets should take heed

“The wind of change is blowing through this continent. And whether we like it or not, this growth of national consciousness is a political fact.” These words were spoken by British prime minister Harold Macmillan in 1960 about Africa but can be easily applied today to the continent of Europe. Following the European Parliament elections this week, the traditional parties have found themselves on the back foot. The battle for Europe is about to begin, as the elections saw increasing support for reform from within that seeks to box in ...

Read More »

‘No easy fix’ for Hong Kong firms affected by tariffs as US customs tightens scrutiny, former trade official says

Hong Kong businesses impacted by the US tariffs on US$250 billion in Chinese goods have “no easy fix” but could consider several strategies to minimise their exposure, according to a former US trade official. Actions that are less drastic than disrupting entire supply chains or shifting markets, but involve scrutinising how goods are classified and valued, could help some companies reduce duties, Washington-based lawyer and former member of the Office of the United States Trade Representative Andrew Shoyer said. But such changes require careful consideration, as scrutiny of US customs ...

Read More »

Amid Huawei row, China to list ‘unreliable’ foreign entities that harm Chinese firms

China’s Commerce Ministry said on Friday that it will draft a list of foreign companies, organisations and individuals that it deems “unreliable” for harming Chinese companies, state-run China National Radio reported. The move, which does not single out any countries or companies, comes amid U.S.-China tensions that have sharply escalated since Washington put Huawei on a blacklist that effectively bans U.S. firms from doing business with the Chinese telecoms equipment giant. The “unreliable entities list” will apply to those who flout market rules and the spirit of contracts, block supplies ...

Read More »

Portugal becomes the first euro zone country to issue debt on China’s market

Portugal has become the first ever euro zone country to issue bonds denominated in the Chinese yuan. Known as “Panda” bonds, that’s yuan-denominated debt issued by a foreign sovereign issuer, the sale will take place Wednesday and Thursday. The southern European country announced last week its intention to sell 2 billion yuan ($289 million) worth of bonds with a maturity of three years. These Panda bonds will not be the first in the European Union, with Poland issuing government bonds on the Chinese market in 2016 and Hungary in 2018. ...

Read More »

Foreigners Seen Piling Billions Into Europe in Global Debt Shift

Want the lowdown on European markets? In your inbox before the open, every day. Sign up here. Christian Hantel is exactly the kind of investor European companies are wooing as they adjust to a world of diminished monetary largesse. Based in Zurich, he channels cash from outside the eurozone, the kind that corporate borrowers from the 19-member bloc on the potential precipice of another decade of economic stagnation need as the European Central Bank retreats. The money manager at Vontobel Asset Management is at the vanguard of a wave of ...

Read More »

Are rare earth minerals China’s trump card in its trade war with US?

China has been signalling that it may restrict the export of rare earth minerals to the United States as the trade conflict between the two countries escalates. It is by far the largest producer of these raw materials, vital for many American industries including high-growth sectors such as electric car and wind turbine production. Last year, the US Geological Survey designated these minerals critical to the economy and national defence. “China is seriously considering restricting rare earth exports to the US,” tweeted the editor of Chinese state-run Global Times this ...

Read More »

Drewry: World Container Index Down by 1.5%

The composite index decreased 1.5% this week likewise, 6.9% down as compared with same period of 2018. The average composite index of the WCI, assessed by Drewry for year-to-date, is US $1485 per 40ft container, which is $21 higher than the five-year average of $1464 per 40ft container. Drewry’s composite World Container Index (WCI) decreased 1.5% or $19 to reach $1290.80 per 40ft container. Freight rates from Shanghai-New York declined by $154 and stood at $2502 per feu. Rates on Shanghai-Los Angeles plummeted $73 to reach $1262 per 40ft box. ...

Read More »

MABUX: Bunker Market Expected to Retreat Today

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) demonstrated slight downward trend on May 30: 380 HSFO – 418.55(-3.34) 180 HSFO – USD/MT – 457.08(-3.10) MGO – USD/MT – 679.38-3.63) Meantime, world oil indexes dropped on May 30 on a smaller-than-expected decline in U.S. crude inventories and fears of a global economic slowdown due to the U.S.-China trade war. Brent for July settlement stayed declined by $2.58 to $66.87 a barrel on the London-based ICE ...

Read More »

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping