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American Shipping Is Dying. But We Can Bring It Back

While debates rage about how to restore America’s manufacturing, military, and even moral foundations to periods of perceived glory, little attention is being given to the crisis in shipping. This aspect of national decline is a grave issue for more than the pinch to patriotic pride that comes from the loss of the stars and stripes on the world’s oceans, but also for crucial geostrategic reasons. When 90% of international trade measured by volume is transported on ships, a healthy merchant marine is in the country’s vital economic interests and, ...

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Eagle Express X (EXX) says Aloha!

Is your lei (garland) ready? APL is extending Eagle Express X (EXX), the industry’s proven frontrunner in timeliness and reliability across the Pacific, to the Hawaiian market! From August 2019, EXX will make fortnightly calls to Hawaii, delivering fast and reliable transit times from Shanghai and Ningbo to Honolulu, at 18 days and 19 days respectively. The fully APL-operated EXX arrives at Honolulu on every other Tuesday with same week cargo availability. Moreover, an APL-owned office right in Honolulu will provide strong local expertise and dedicated customer support for all ...

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Damen Shipyards Group Opens New Engineering Centre In Helsinki

Damen has established a presence in Finland for the first time. The Helsinki office has been set up to take advantage of the depth of engineering expertise that exists in the country following the group’s entry last year into building large vessels for the RoPax, Cruise and Offshore markets via its new Romanian yard, Damen Shipyards Mangalia. The new office will augment and extend Damen’s engineering capability in this market segment. Finland was selected as the location because, along with Italy, Germany and France, it is one of the leading ...

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Russian LNG exports surge 20 percent, boosting revenues to $2 billion

Liquefied natural gas (LNG) shipments from Russia increased to 11.7 billion cubic meters in the first three months of this year – a 19.7 percent growth compared to the same period of 2018. The surge in the country’s LNG exports ensured a year-on-year growth in revenue for Russian firms in the sector. Sakhalin Energy and Yamal LNG revenues spiked by 49.8 percent, reaching $1.95 billion, the Federal Customs Service (FCS) said on Monday. In March alone the shipments amounted to 2.6 billion cubic meters and generated $510 million. Meanwhile, Russian ...

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Swine fever set to reduce China’s soybean imports further: USDA

China’s import demand for soybeans could be reduced by a cumulative 42 million mt by 2019-20, largely as a result of the African swine fever outbreak in the country, according to the US Department of Agriculture. China’s soybean import demand in 2017-18 was 3 million mt below the USDA’s initial forecasts decline. That was “related to China’s reduction in soybean meal in feed rations prompted by the current trade engagement with the United States,” USDA said in a report released Friday. For 2018-19 the loss is projected to reach 17 ...

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Indonesia March Coal Exports Hit Record

Coal-rich Indonesia exported 41.98 million tonnes of coal in March, hitting a record high since January 2015, showed data from BPS-Statistics Indonesia. The March exports increased 10.4% from the preceding year and 22.62% from a month earlier, data showed. Over January-March, Indonesia exported 116 million tonnes of coal in total, increasing 10% on the year. In March, Indonesia exported 30.85 million tonnes of thermal coal (including bituminous and sub-bituminous coal), rising 18.71% on the year and 19.68% month on month. The value of thermal coal exports stood at $1.55 billion. ...

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Analysis: New US sanctions seen having little impact on Iran steel exports, but will hit imports

The US’ imposition Wednesday of new sanctions on Iran’s metals and minerals trade may change little in the short term for Iran’s steel exporters or their customers abroad, in a trade environment that has already been restricted by existing secondary sanctions and anti-dumping actions, according to Iranian and European steelmaking sources surveyed Thursday. Steel imports into Iran are however to expected continue to take a hit. The Iranians will attempt to continue exporting to neighboring countries in the Middle East and North Africa region in the case of steel products ...

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Why Rio Tinto may have struck a three-year windfall worth billions

The outlook for our iron ore miners has improved with Brazilian rival Vale S.A. tipped to take three years to restore output of the steel making ingredient from its mines. That’s longer than what some were expecting and the update from Vale is likely to keep the iron ore price higher for longer. The Rio Tinto Limited (ASX: RIO) share price reacted positively by bouncing from its morning loss to trade 0.3% higher at $95.56 during lunch time trade when the S&P/ASX 200 (Index:^AXJO) (ASX:XJO) index fell 0.4% into the ...

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Corn up for 3rd session on US planting delays, soybeans ease after rally

Chicago corn rose for a third consecutive session on Wednesday, notching its biggest 3-day gain since late November as concerns over planting delays in the U.S. Midwest underpinned the market. Soybeans lost ground after rallying in the last session, with Washington-Beijing trade talks taking the spotlight. The most-active corn contract on the Chicago Board of Trade rose 0.4% to $3.70-1/4 a bushel by 0305 GMT after closing up 3.4% in the previous session when prices hit a high of $3.70-3/4 a bushel - the highest since May 3. Soybeans slid ...

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US steel sector thrives as mills move up quality ladder

Ahead of the S&P Global Platts Global Metals Awards in London, on May 16, The Barrel presents a special series of articles looking at the global metals trade. In this feature, Nicholas Tolomeo, Michael Fitzgerald and Joe Eckelman report on changing approaches to steelmaking in the US, as companies target higher-quality steel products. When it comes to raw materials, steel mills in the US are developing expensive tastes. Of all the major steel-producing nations, no country is so geared toward electric-arc furnace (EAF), flat-rolled steel production as the US. Profits ...

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India data: April oil products demand up 0.3% year on year to 17.83 million mt

India’s oil demand in April rose 0.3% year on year to 17.83 million mt, or an average 4.67 million b/d, as demand for transportation fuels and cooking gas increased, data from the Petroleum Planning and Analysis Cell showed. Demand for diesel rose 2% year on year to 7.31 million mt while gasoline demand was up 7.6% to 2.46 million mt. Overall demand in April was 5.5% lower month on month. Analysts said higher prices for crude in April and a slowdown in passenger vehicle and car sales led to the ...

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Shanghai crude oil futures close higher

Crude oil futures closed higher Wednesday on the Shanghai International Energy Exchange. The most active crude oil contract for June delivery was up 1.1 yuan (about 16 U.S. cents) to close at 500.9 yuan a barrel. On Wednesday the total trading volume for eight listed crude oil futures contracts on the exchange was 276,524 lots, with a turnover of about 138.4 billion yuan. China launched the crude oil futures trading, which is open to overseas investment, on March 26 last year. Source: China.org

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Saudi Aramco bets on oil supply to Europe, trading expansion

Saudi Aramco aims to boost its oil supply to Europe by 300,000 barrels per day (bpd) within the next two years as it expands its trading operations there with an office opening this summer in London, a senior company executive said. Aramco, the world’s biggest oil producer, is expanding its downstream, or refining and marketing, footprint globally by signing new deals and boosting the capacity of its plants to secure new markets for its crude. The company’s trading arm has been focusing on a new processing arrangement in which it ...

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Oil Is Already Trade War’s Collateral Damage Even Without Duties

U.S. oil shipments are likely to be a casualty of the trade war with China, even though crude was spared from the latest list of American goods targeted with retaliatory tariffs. While oil has never been subject to levies during the dispute between the world’s two biggest economies, the flow of American cargoes to China has nevertheless been throttled by rising tensions over the past year. Refiners in the Asian nation — previously the top Asian buyer of U.S. crude — have largely shunned imports in a bid to avoid ...

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What Will the Barrel’s Price Be in This Fluctuating Oil Market?

Brent crude prices are expected to hold above $70 a barrel this year on supply concerns in the wake of re-imposition of US sanctions on Iran, possible extension of production cuts by Opec+ group of oil producers to another six months and political turmoil in Libya and Venezuela, experts say. Latest surveys and research reports also indicates that oil prices are expected to sustain the present levels throughout the year as supply disruption, weaker global growth and geopolitical tension will weigh on the market. Experts said $70 average oil price ...

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