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LNG prices tipped to double by 2020

The competition watchdog expects liquefied natural gas prices to almost double over the coming months as Australia continues to grapple with a potential east-coast gas shortage. A rise would be welcome news for energy companies that have seen the LNG price slide by around a third, in line with the global oil price, over the last three months but concerning for the gas-intensive manufacturing industry already struggling with domestic supply. In its latest LNG netback price monitor – a measure of export prices minus processing and transport costs – the ...

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Global Markets Cautious After Trade Tensions Buffet Stocks

Global stocks were mixed Tuesday as investors sought to assess the risks of a re-escalation in U.S.-China trade tensions. In Europe, equities lacked a clear direction as indexes flipped between minor losses and gains in the opening minutes of trading. The pan-continental Stoxx Europe 600 was flat. In Asia, most indexes rose after China’s Commerce Ministry said Vice Premier Liu He will visit Washington to continue trade talks on Thursday and Friday. The move comes after initial reports suggested the talks could be delayed or canceled altogether. The Shanghai Composite ...

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Aussie surges after central bank holds rates; yuan stabilises

The Australian dollar surged on Tuesday after the country’s central bank held interest rates at a record low, while currency markets stabilised following U.S. President Donald Trump’s threat of additional tariffs on Chinese goods. Foreign exchange markets were mostly quiet, with investors far from panicking about the prospect of a breakdown in negotiations between China and the United States to resolve their trade dispute. The Aussie rallied as much as 0.8 percent to $0.7048, after the Reserve Bank of Australia held rates, dashing speculation it may ease policy following a ...

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Who pays Trump’s tariffs – China and other exporters or U.S. customers?

U.S. President Donald Trump said on Sunday he would raise tariffs to 25 percent from 10 percent on $200 billion of Chinese goods. The United States has levied tariffs on a total of $250 billion of Chinese imports, global steel and aluminum imports, and shipments of washing machines and solar panels since January 2018, when Trump’s administration levied its first trade tariffs. Trump has referred to himself as a “Tariff Man” and says the duties he has imposed on a range of goods and metal imports are filling up state ...

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Foreign investment in key infrastructure always a touchy subject

For more than three decades a Hong Kong-based shipping and logistics company, Orient Overseas (International), has owned and operated a Californian container port that is now the second biggest in the United States by volume. China’s resumption of sovereignty over the city in 1997 made no difference to the investment. On the contrary, it has thrived. OOIL’s co-chief executive, Andy Tung Lieh-cheung, says that over the years “we have developed Long Beach Container Terminal into the safest, most efficient and lowest-emission terminal in the US”. The long-standing Hong Kong link ...

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China vice premier going to U.S. for trade talks despite Trump threats

Chinese Vice Premier Liu He will visit the United States this week for trade talks, Beijing said on Tuesday, playing down a sudden increase in tension after U.S. President Donald Trump vowed to impose new tariffs. U.S. officials have said China has backtracked on substantial commitments made during months of negotiations seeking to end their bruising trade war. Those concerns prompted Trump to say on Sunday that he would raise tariffs on $200 billion worth of Chinese goods to 25 percent from 10 percent by the end of the week, ...

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Tanker Market Rates 07/05/2019

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

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USCG re-instatement of BWM extensions: Are you affected?

The US Coast Guard (USCG) has reconsidered its interpretation of ‘next scheduled drydocking’ with regard to extensions given under its ballast water management requirements in 33 CFR 151 Subparts C and D and is providing additional guidance on what constitutes entry into drydock and the end of an extension period. Background A number of vessels received an extension of the ballast water compliance date that was stipulated as the ‘first scheduled drydock after [date]’. The [date] was the date of entry reported to the Coast Guard for the upcoming statutory ...

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Breaking down stereotypes in a male-dominated industry

Breaking down gender stereotypes in the maritime industry is not just important in its own right, it is also beneficial for the industry as a whole. That was one of the key messages to emerge from a special event held at IMO Headquarters in London yesterday, on International Labour Day (May 1). In a year when IMO is highlighting its efforts to empower women in the maritime community, a panel discussion among five high level female maritime professionals and an invited audience of IMO delegates and other maritime representatives explored ...

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Martechnic Navigation Presents System For Potable Water Quality Management On-board

Our systems treats the water just before entering the glass or the cooking equipment removing the harmful contaminants and sediments that, based on our experience, are present in most vessel’s water networks (i.e. tanks and piping). In addition our systems provide a sufficient solution to the unwanted situation of the usually unattended shipment of bottled water, which doesn’t ensure the correct transportation conditions indicated in bottled water labels (i.e. store / transport the bottle in dry and cool place below 18°C, out of direct sunlight and away from toxic chemicals). ...

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China Is a Dying European Shipbuilder’s Last Hope

Its portholes without glass and covered in rust and seagull guano, the Santiago I tanker sits moored in the Adriatic Sea abandoned by striking shipyard workers who haven’t been paid for eight months. At the next dock, a Belgian dredger is partly enshrouded in scaffolding, though with no one around to finally make it seaworthy. Towering overhead, a crane has nothing to hoist. Such is the state of another one of Europe’s historic shipbuilding centers that finds itself at risk of extinction, unable to compete with Asia and desperate for ...

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Malaysia’s transshipment revamp to help ports compete with Singapore

Malaysia plans to abolish some regulations intended to curb smuggling but are hindering competitiveness with ports in other countries, especially Singapore. The regulations relate to import permits to make ports in the country more competitive in the transshipment sector, says Transport Minister Anthony Loke Siew Fook. The Minister says his ministry will abolish import permits and other regulations which prevented ports from competing. Loke says he understood some regulations were to curb smuggling, but not supposed to hinder the ports’ competitiveness. “Transshipped goods are not for the local market but ...

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Connecting Up Port Financing Dots

The ownership, acquisition and development of ports and terminals require significant financial investment and therefore an owner or investor is inevitably going to require external financing in order to secure the funding needed for the relevant acquisition or development. In the current climate in which ports are competing for customer volume, continued investment (and the funding of such investment) in the infrastructure, superstructures and equipment for a terminal is increasingly important; an operator therefore needs to ensure that it has the correct structure to be able to attract financing to ...

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Algeria’s energy exports down, trade deficit up in Q1 -customs

Algeria’s first quarter energy earnings fell 1.68 percent year on year, official figures showed. That increased the OPEC member country’s trade deficit by 11 percent to $1.37 billion, the data released by customs showed. Oil and gas exports, which accounted for 93.59 percent of the country’s exports, fell to $9.153 billion from $9.310 billion, the figures showed. The overall value of exports fell to $9.78 billion from $10.02 billion for the January-March quarter last year. Imports fell 0.83 percent to $11.15 billion. Algeria has imposed import restrictions on some goods, ...

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U.S. soybean prices drop more than 2 pct to 7-mth low

Chicago soybean futures on Monday dropped to their lowest in over seven months, extending declines into a seventh session amid expectations that a lack of U.S. corn planting due to delays in rain could fuel a shift to more soybean acreage. The market’s focus was also on the intensifying trade dispute between Washington and Beijing, with U.S. President Donald Trump announcing on Sunday that he would hike U.S. tariffs on $200 billion worth of Chinese goods this week. The most active soybean futures on the Chicago Board of Trade were ...

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