Home / Author Archives: hellenicshippingnews. (page 1609)

Author Archives: hellenicshippingnews.

Nigeria to issue green bond of up to 15 bln naira – debt office

Nigeria will issue a green bond of up to 15 billion naira ($49 million) to fund environmental projects, the country’s debt office said on Monday. In a statement, it said it would hold roadshows in Lagos and Abuja on Monday and Tuesday. Source: Reuters (Reporting by Camillus Eboh; Writing by Alexis Akwagyiram; editing by John Stonestreet)

Read More »

China says U.S. demand on its state-owned enterprises is ‘invasion’ on economic sovereignty

The United States has called on China to curb the development of its state-owned enterprises (SOEs), a demand that China sees as an “invasion” on its economic sovereignty, Chinese state news agency Xinhua said. Trade tensions between Washington and Beijing escalated sharply earlier this month after the Trump administration accused China of having “reneged” on its previous promises to make structural changes to its economic practices. Washington later slapped additional tariffs of up to 25% on $200 billion of Chinese goods, prompting Beijing to retaliate. As trade talks stalled, both ...

Read More »

Why India is set to face a wider trade deficit

Data from 1988 to 2018, however, shows that overall trade balance as a percentage of GDP has dropped substantially Impacted by a consumption slowdown, India’s economy faces another peril, that of rising trade protectionism, which, along with tensions in parts of the Middle East, will hamper merchandise exports and widen the trade deficit, as it did in April. The fact that India has had a trade deficit since 1988 might not come as a surprise, for unlike its East Asian neighbours, the country relies more on internal consumption for its ...

Read More »

Failing to hire women, ECB extends supervision job deadline: sources

The European Central Bank has extended a deadline for filling three top jobs at its bank supervision arm after it failed to hire any women for the roles, two sources said, illustrating the bank’s long struggle to attract female talent for senior positions. With only one woman on its 25-member Governing Council and just a handful of women on the Supervisory Board, the ECB has long been criticized by European lawmakers for fostering a culture that favors men, with males holding over three quarters of senior managerial positions. Pressure on ...

Read More »

What Makes Freight Rates Rise and Fall?

We learned long ago in science class that nothing stays the same, but clearly science never met ocean freight rates. But while evolutionary changes take millions of years, ocean freight rates seem to turn overnight – and we thought we’d like to discover why. We turned to our favorite professor, Andrew Lubin, and asked him to do some research on the topic. Are there economic trends we need to follow, Macro Micro, or both? Stock market or currency gyrations? Weather? Shipbuilding subsidies? Something else? There’s no single answer, he told ...

Read More »

MABUX: Bunker market this morning, May 27

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) declined on May 24: 380 HSFO – 423.61(-9.37) 180 HSFO – USD/MT – 461.05(-8.83) MGO – USD/MT – 683.33(-9.55) Meantime, world oil indexes changed irregular on May 24 ahead of long U.S. and UK holiday weekends, but posted the biggest weekly drop of the year, pressured by rising inventories and worries about the global economy. Brent for July settlement increased by $0.93 to $68.69 a barrel on ...

Read More »

Isle of Man: Forging stronger links with Japanese shipping

The island’s new ship registry boss has flagged up Japan for more business. Cameron Mitchell, who recently took over in the hot seat from Dick Welsh, sees the land of the rising sun as a great maritime centre. An upbeat Mr Mitchell said: ’Japan has been identified as a potential growth market for the Ship Registry. ’Not only is it home to some of the largest and best shipyards in the world, but it also has an owned fleet which places it in the top three marine jurisdictions in the ...

Read More »

The Shipping Industry May Finally Be Turning To Wind Power

For centuries, wind was the force that moved cargo around the globe, until it was replaced by steam and then diesel during the industrial age. As the shipping industry comes under ever greater scrutiny for its emissions and pollution, there could still be a future for sail-power to transport cargo. Reintroducing wind power to large container ships There are several projects under development to reintroduce wind power to large container ships, and even for cruise ships. The one closest to commercial use is the Neoline which uses giant sails and ...

Read More »

Ship Finance in Singapore

Due diligence Demonstrating title or legal ownership How does one demonstrate title to or legal ownership of a vessel registered under the laws of your jurisdiction? Title or legal ownership of a vessel can be verified by a search of the records of the vessel at the Maritime and Port Authority of Singapore (MPA) and by examining the documentary evidence of delivery of the vessel to the owner, usually in the form of a protocol of delivery and acceptance executed between the builder or seller of the vessel and the ...

Read More »

Hong Kong air pollution and the deadly impact of shipping and cruise industries

At weekends, parents push babies in strollers and take family photographs in the attractive roof garden that crowns Hong Kong’s Kai Tak Cruise Terminal, seemingly oblivious to the smoke belching from whichever ocean liner happens to be berthed alongside. “It’s rare to have such a nice big space,” says a young mother from West Kowloon, as she enjoys a stroll with her partner and son. Behind her, a plume of filthy rust-coloured smoke belches from the exhaust funnel of the 335-metre cruise liner World Dream; smoke full of sulphur dioxide ...

Read More »

China’s cargo throughput sees stable growth in Jan-April

China’s cargo throughput at ports grew by 6.6 percent to around 4.3 billion tonnes in the first four months of this year compared with a year ago, official data showed. At the beginning of this year, the Ministry of Transport (MOT) expanded the statistical range from major ports to all ports across the country. In April alone, cargo throughput at ports stood at 1.14 billion tonnes, the MOT said on its website. Foreign trade cargo throughput amounted to 1.38 billion tonnes in the Jan-April period, up 2.6 percent year-on-year, while ...

Read More »

Saudi port ranked second fastest growing in the world

King Abdullah Port has been ranked the second fastest growing port in the world in 2018, according to Alphaliner, a maritime transport data analyst. King Abdullah Port is now ranked 83 in the list of the 100 largest container ports in the world in 2018 after ranking 87 in 2017. Alphaliner said that King Abdullah Port increased its throughput from 1.7 million TEU in 2017 to 2.3 million TEU in 2018; ranking first in the region in terms of container handling growth for the 12-month period. King Abdullah Port CEO, ...

Read More »

Asia crude buyers brace for bullish summer spot market

Traders of Middle East sour crude oil expect a surge in physical spot market prices as demand from major refining centers in Asia re-emerges after maintenance, they told S&P Global Platts this week. “There will be more demand this month as [refineries come] back from turnarounds, and there is higher demand from China,” a crude oil trader based in Singapore said. The cash Dubai spread between Month 1 and Month 3 — often used as a barometer of sentiment for the Middle East sour crude market — surged past $1/b ...

Read More »

Brazilian soybean exports could rise amid escalation of US-China trade dispute

Brazil-origin soybean exports could increase at the cost of US-origin beans, amid the recent escalation of US-China trade dispute, weak Brazilian currency and approaching corn harvest, grain exporter AgriBrasil told S&P Global Platts. The Last few weeks have been quite active for Brazil-origin soybeans, as China may have bought 20-40 cargoes of soybeans to be loaded promptly due to the failure of US-China trade talks, AgriBrasil said. Brazil soybean exports January-April period are seen at 26.3 million mt, up 12% year on year, according to a report released by Brazilian ...

Read More »

Goldman Says Buy Commodities in Worst Weekly Slump This Year

Commodity prices are heading for their worst week this year. Goldman Sachs Group Inc. says, cautiously, that’s an opportunity to buy. While rising macro concerns and escalating trade tensions have weighed on metals and agriculture prices, those risks are starting to be offset by the return of backwardation and a positive carry, analysts including Sabine Schels said in a May 23 note. The S&P GSCI commodity index is generating positive roll returns for the first time in eight months and the bank is forecasting a 3-month return of 6.1%. Investor ...

Read More »

Recent Videos

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