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China uniquely placed to ‘green’ shipping

The Chinese president, Xi Jinping, said last month that his country’s Belt and Road Initiative (BRI) to stimulate global trade and integration must be “green and sustainable”. Media coverage of the BRI has focused so far on how to ensure environmental standards on the land-based “belt”. But there has been far less discussion about the other half of this vast global project – the 21st-century “maritime silk road”, in which Chinese firms are involved in either building or operating 42 ports in 34 countries. In a world where 80% of ...

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Wärtsilä simulator software selected to teach modern navigational skills at three Netherlands training locations

Software solutions from the technology group Wärtsilä have been selected for installation in three maritime training centres. The turnkey systems will allow training to commence immediately following the site acceptance. The systems have been ordered by the Rotterdam based STC Group, an international maritime transport and logistics education provider. The order with Wärtsilä was booked in April 2019. The Wärtsilä Navi-Trainer Professional (NTPRO) 5000 software will enable the teaching of the latest approaches to navigation, and equip trainees with the skills needed onboard modern vessels. Wärtsilä’s unique and tailored approach ...

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CMA CGM is ordering 50,000 Traxens trackers, increasing its offer of connected containers

The CMA CGM Group, a world leader in shipping and logistics, is pleased to announce a new order for 50,000 Traxens trackers. As a structuring shareholder and the first company to have invested in Traxens in 2012, CMA CGM participated in the development of the solution by testing it for several years, then launching it commercially in 2018. Thanks to the order of 50,000 trackers this year, CMA CGM is implementing its decision to deploy the Traxens solution on a large scale for the benefit of its customers. Optimised supply ...

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Panama Canal postpones sixth draft restriction to June 12

The Panama Canal Authority has postponed its sixth planned draft restriction in the canal for 2019 after heavy rainfall eased water levels in the tributary Gatun Lake. In an advisory note to shipping firms, the PCA advised that the new maximum authorized drafts will become effective June 12, instead of May 28. The new maximum drafts will be 13.11 meters (43.0 feet) Tropical Fresh Water (TFW) for vessels transiting the Neopanamax locks and 11.73 meters (38.5 feet) TFW for vessels transiting the Panamax locks. “We will continue to monitor the ...

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Navis Enhances Core TOS Functionality, Delivering Record Levels of Productivity with Launch of 3.7

Navis a part of Cargotec Corporation and provider of operational technologies and services that unlock greater performance and efficiency for the world’s leading organizations across the shipping supply chain, has released N4 3.7, the newest version of its flagship TOS with upgraded product features and expanded capabilities. With this upgrade, Navis continues to enhance its core TOS functionality to meet the critical needs of its manual, semi-automated and fully automated terminal customers. Navis has continuously updated its software to scale with growing business needs of its customers globally. With the ...

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Can U.S. LNG Export Projects Fight Off Trade War Headwinds?

America’s escalating trade dispute with China has been weighing on sentiments across markets. On May 10, Washington raised tariffs on $200 billion worth of Chinese goods from 10% to 25%, while Beijing retaliated by imposing higher duties on a revised list of 5,140 U.S. goods worth $60 billion. Among others, China raised the tariff on imported liquefied natural gas (or LNG) to 25% from the prior level of 10%. The deteriorating Sino-U.S. relationship in the form of several rounds of new tariffs (or tax on imports) is feared to be ...

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Southeast Asia’s love affair with Black Sea wheat to grow: Agrocorp CEO

Black Sea wheat is set to make bigger inroads into Southeast Asian markets in the coming years as price-sensitive buyers in the region look for alternatives to Australian supplies, Vijay Iyengar, CEO of Agrocorp International, told S&P Global Platts in an interview. Countries like Indonesia, the Philippines and Vietnam will be increasingly looking for wheat from the Black Sea region, not only because of the price difference with Australian wheat, but also because of the growing acceptability of those cargoes among their domestic grains sector, he added. “I think Black ...

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US to Triple Import of Russian Oil Amid Sanctions Against Venezuela – Report

As of May 2019, US imports of Russian oil amounted to some five million barrels, while American refineries imported a total of 7.5 million barrels in all of 2018. The US has rapidly increased its oil imports from Russia, with a total of 13 tankers carrying five million barrels of crude and oil products arriving in the first half of May amid dropping Venezuelan crude production due to Washington’s sanctions, Bloomberg reported, citing Caracas Capital Markets managing partner Russ Dallen. The latter described Russia’s crude export as being “on steroids”, ...

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Record international iron ore prices spur lower grade exports from India

International iron ore prices climbing to over $100 per tonne, the highest in five years, has kindled hopes of revival in exports of lower grade iron ore from India. Exports of iron ore of up to 58 per cent attract zero duty. Traders said, once the prices of this baser grade of iron ore breaches $70, exports become a viable option. Odisha alone has in excess of 100 million tonnes of inferior grade iron ore accumulated at the mine heads. Since the ore is not absorbed in the domestic market, ...

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What soaring iron ore and faltering copper say about China

The iron ore market is on a surge, the price last week punching up through the $100-per tonne level for the first time in five years. Copper, by contrast, is under pressure, with the London Metal Exchange (LME) price for three-month delivery sliding 10 percent over the last month and currently struggling to hold the $6,000-per tonne level. The fortunes of two commodities are beholden to China, the world’s biggest importer and user of both iron ore and copper. Yet the two have followed starkly different price paths so far ...

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As iron ore hits $100, analysts see longer term price support on China steel output

As iron ore prices surpassed $100/dry mt CFR China on Friday for the first this year, hitting their highest level since early 2014, top analysts see support from an increase in Chinese steel output in April to over 1 billion mt on an annualized basis. Vale’s Brazilian iron ore mine cuts are limiting supplies from the world’s biggest miner of the commodity to meet increasing demand in Asia, even as European demand slows on higher steelmaking costs and continued steel price falls so far this year squeezing operating margins. Iron ...

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Oil slips 1% as U.S. stockpiles surge, economic concerns grow

Oil prices dropped by around 1% on Thursday, extending falls from the previous session amid surging U.S. crude inventories and weak demand from refineries. Brent crude futures, the international benchmark for oil prices, were at $70.36 per barrel at 0652 GMT, down 63 cents, or 0.9%, from their last close. U.S. West Texas Intermediate (WTI) crude futures were down by 51 cents, or 0.8%, at $60.91 per barrel. Crude futures already fell by around 2% the previous day. “Rising inventories and a slowdown with refined product demand could suggest we ...

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3 things to consider before you buy a deepwater rig

Is it time to invest in the sharp end of the sector? The collapse in upstream investment has wreaked havoc on the offshore rig market, leading to rationalisation and consolidation. Those owners left have been clinging on by their fingertips. The number of rigs operating under contract is still at slump levels of under 200, down by one-third from the peak. Prophets of doom have argued that there will be no cyclical upturn this time – conventional offshore oil and gas developments, with the odd exception, have been squeezed out ...

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Offshore Field Sanctioning Nears Peak

The annual growth rate in the global offshore oilfield services market will likely be halved after 2022, according to Rystad Energy. The independent energy research and consultancy headquartered in Norway with offices across the globe forecasts that the service market will slow from 7% annual growth per year in 2019-2022 to only 3% from 2022 to 2025. Commenting on the numbers, Audun Martinsen, Head of Oilfield Service Research, says: “Just how things ultimately play out in the offshore market will depend to a large extent on whether OPEC, with help ...

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Trade woes sink shares, Brexit weighs on sterling

World shares made it four days in the red in the last five on Thursday as concerns grew that the China-U.S. trade conflict was fast turning into a technology cold war between the world’s two largest economies. Asian stocks caved to a four-month low as the rhetoric between Beijing and Washington remained fierce while Europe’s bourses also fell as Brexit worries and gloomy data from Germany and the euro zone added to the nerves. U.S. stock futures also pointed to a weak start with the S&P 500 e-minis faltering 0.5%. ...

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