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China must quickly ‘quench the immediate thirst’ of a deepening economic slowdown, senior economist Yu Yongding says

Arresting a deepening economic slowdown, not making “baseless” deep-rooted structural reforms, should be the top priority for China’s economy in 2019, a senior economist said. Yu Yongding believes Beijing needs to take every possible measure, including increasing money supply and boosting fiscal spending, to prevent the world’s second largest economy from tanking. “China’s experiences in the last 40 years have told us that, all the problems will worsen if we can’t maintain economic growth rate at a certain level,” Yu, a senior research fellow at the Chinese Academy of Social ...

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The U.S. Economy in 2019: Challenges And Lower Expectations

Where is the economy heading in 2019? Changes in economic growth are much less volatile than the performance of stock markets. In order to forecast what will happen in an economy it is better to focus on the fundamentals, which is to say, examining causes rather than effects. In my forecast for 2018, I included as a factor of my optimism the increase in value of U.S. stocks during the first years of the presidency of Donald J. Trump. This year I include in my analysis the bumpy downward ride ...

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As the state tightens its grip on the economy, will China reject capitalism again?

China has just celebrated the 40th anniversary of its economic liberalisation. While everyone praised Deng Xiaoping again for his vision and leadership, one of his famous sayings, “Let some people get rich first”, was conveniently not mentioned. Amid widening inequality in China, that slogan just doesn’t feel appropriate now. If China were to hold a referendum today on increasing or decreasing state controls, chances are that the public would vote overwhelmingly for increasing them. Capitalists and liberals in the country must be relieved that holding a referendum is not a ...

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Baltic Dry Index falls to 1247, down 13 points

Today, Monday, January 07 2019, the Baltic Dry Index decreased by 13 points, reaching 1247 points.

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MMi Daily Iron Ore Index Report January 07 2019

Iron ore port stock ticked up today on the back of a more bullish trading atmosphere, backed by hopes that a US-China trade deal will soon

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Tanker Market Rates 07/01/2019

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

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ConocoPhillips Australia Noble Tom Prosser Rig Move

In late 2018, the Noble Tom Prosser drilling rig finished operations over a well at the Bayu-Undan field in the joint Timor-Leste/Australia development area.

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Tanker Market Rates 06/01/2019

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

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Tanker Market Rates 05/01/2019

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

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Diana Shipping (DSX) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Diana Shipping (NYSE:DSX) from a hold rating to a buy rating in a research note issued to investors on Tuesday. The brokerage currently has $3.50 price target on the shipping company’s stock. According to Zacks, “Diana Shipping Inc. is a global provider of shipping transportation services. They specialize in transporting dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes. “ Separately, ValuEngine raised Diana Shipping from a sell rating to a hold rating in a ...

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Cargo ship’s lost containers bring windfall to Dutch islanders

Dozens of containers with items including flat-screen televisions have washed up on Dutch islands in the North Sea after a ship lost part of its cargo in heavy seas, bringing a windfall for local treasure hunters. The Dutch Coast Guard said up to 270 containers had fallen off the Panamanian-flagged MSC ZOE, one of the world’s biggest container ships, in rough weather near the German island of Borkum and floated southwest toward Dutch waters. Containers broke open on the shores of the Dutch islands of Terschelling and Vlieland. Others were ...

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TTS Group ASA: Chinese shipyard signs new contract worth MNOK 102

TTS Group ASA has been awarded a new contract with Cosco (Dalian) Shipyard Co., Ltd in China. Total order value is approximately MNOK 102. The contract regards five shipsets of cargo cranes and hatch covers. The equipment is for use on multi-purpose vessels. Deliveries are expected to take place by the end of 2019. Source: TTS Group ASA

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Massive ship-to-ship LNG transfer starts in Turkey

Turkey started one of the world’s biggest ship-to-ship Liquified Natural Gas (LNG) transfers on Wednesday in the mediterranean port of Dortyol, Mehmet Tecimen, oil utilities regional director of Turkish Petroleum Pipeline Corporation (BOTAS) announced. “This [BOTAS’s Floating Storage Regasification Unit (FSRU) vessel anchored in Dortyol] is the largest FSRU ship in the world at 345 meters in length,” Tecimen said during a press briefing. In February 2018, Turkey launched this second FSRU with 20 million cubic meters of send-out capacity per day in the Dortyol port. The unit has 263,000 ...

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Start-Up Hub Makes Israel Port Of Call For Maritime Innovation

Cybersecurity, agritech, digital health and autonomous vehicles have all put Israel on the map as a global innovation center in recent years. Now, two former Israel Navy commanders are riding the wave of innovation to transform the Jewish state into the port of call for global maritime technology. Combining decades of maritime passion and hi-tech experience, Hannan Carmeli and Nir Gartzman founded innovation hub theDOCK in early 2017, with the aim of leveraging Israel’s technology assets to benefit the lucrative port, maritime and logistics sectors. “This is a multi-trillion dollar ...

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LNG bunker vessel Kairos docks in Klaipeda

The world’s largest LNG bunker vessel Kairos has docked in the port of Klaipeda after having been anchored off Lithuania for around three weeks. “(The vessel) is in the port,” Dovile Ringis, spokeswoman for the Klaipeda port authority, confirmed to BNS. Klaipedos Nafta, the Klaipeda LNG terminal’s operator, would not comment on the Kairos’ operations in the port, saying the ship is currently at the disposal of another company, Nauticor. “Our first planned operation at the FSRU Independence is scheduled for next week. We will be able to provide a ...

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