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China may expand stimulus in response to potential US trade war tariff hike, analysts say

China may up the pace and size of its economic stimulus to cushion the impact on already sluggish consumption, following the escalation of trade tensions, analysts said. The options include additional cuts in taxes and fees, incentives for buying big ticket items like appliances and cars, and a further lowering of interest rates to boost lending to the real economy, particularly for small firms that will be hit hardest by increased trade tensions. A further reduction in property sales restrictions in smaller cities, as well as further measures to open ...

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India, US stress on regular talks to ease trade tension

India and the US on Monday agreed to deepen economic cooperation and resolve outstanding issues through regular official engagements in a meeting between commerce secretary Wilbur Ross and trade minister Suresh Prabhu. The development is important given recent rising trade tensions between the two countries. “Both sides also discussed various outstanding trade issues. Both sides agreed to engage regularly at various levels to resolve outstanding trade issues by exploring suitable solutions, which are mutually beneficial and promote economic development and prosperity in both countries,” India’s commerce ministry said. A trade ...

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Banks lose appetite for new Brexit fight

While Britain debates the merits of a second Brexit referendum, London’s financial centre is steering clear of the argument, resigned to the need to shift some business elsewhere. Burned by backing the ill-fated Remain campaign three years ago, major global and British banks told Reuters they would shy away from taking a similar position in a new vote, preferring to spend time and money on “future-proofing” their business, including tackling outdated technology and moving into new markets. A Reuters survey of leadership attitudes at 17 British and global banks found ...

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China trade war ‘will not bring U.S. economy to its knees’: Wells Fargo economist

The U.S. will survive a full-blown trade war with China and the economic consequences are less troubling than some investors fear, according to Wells Fargo Securities senior economist Tim Quinlan. “It’s fair to say that a trade war with China alone is not going to bring the U.S. economy to its knees,” Quinlan told Yahoo Finance, U.S. exports to China account for less than 1% of U.S. GDP, according to a new research note by Quinlan and his colleagues at Wells Fargo. The U.S. Department of Commerce Bureau of Economic ...

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Baltic Dry Index climbs to 940, up 4 points

Today, Wednesday, May 08 2019, the Baltic Dry Index climbed by 4 points, reaching 940 points.

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MMi Daily Iron Ore Index Report May 08 2019

The physical iron ore port stock market slowed today following yesterdays excitement. Despite this,

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Best Industrial Clerk in the Region Rendsburg-Eckernförde was trained at NOBISKRUG – Shipyard offer various fields of training for future employees

Not knowing what is going to happen during the day – that’s shipyard life”, Jule Behrens, who was honored on Wednesday, 6th March 2019 in a festive setting of the yard’s internal graduation ceremony. She has not only finished her apprenticeship being the best industrial clerk in the region Rendsburg-Eckernförde/Neumünster but was also best apprentice of all trained professions. It is this variety she was looking for after school which is why she decided for an apprenticeship as Industrial Clerk, “At the end of my time in school I was ...

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UK Chamber of Shipping: Speed reduction regulation will give ‘false impression’ that industry is reducing carbon emissions

New Proposals to limit the speed of ships as a way of reducing carbon emissions will have the opposite effect, the UK Chamber of Shipping has warned. The proposals by the French and Greek authorities will be discussed at a meeting of the International Maritime Organisation next week, and call on regulators to enforce a speed limit on international shipping – despite there being no evidence that such limits will result in lower carbon emissions. Anna Ziou, Policy Director at the UK Chamber of Shipping said: “The shipping industry is ...

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Eagle Bulk Shipping Inc.: Highest outperformance to date and scrubber initiative well underway

Eagle Bulk Shipping Inc., one of the world’s largest owner-operators within the Supramax / Ultramax segment reported financial results for the three months ended March 31, 2019. Highlights for the Quarter: Generated net revenues of $77.4 million, representing a decrease of $2.0 million or 2% compared to the same period in 2018. – TCE Revenue (1) for the quarter equated to $40.0 million, a decrease of 14% year-on-year. – Achieved a TCE (2) of $9,607 for the quarter, a decrease of 13% year-on-year. Realized a net income of $29 thousand ...

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MABUX: Bunker Prices Could Retreat Today

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) changed insignificant and irregular on May 07: 380 HSFO – USD/MT – 417.21(-3.00) 180 HSFO – USD/MT – 464.57(-2.29) MGO – USD/MT – 656.64(+2.21) Meantime, world oil indexes fell sharply on May 07 as the China-US trade war continues, sparking fears that global growth will be disappointing, despite a tightening of oil supplies in Venezuela and Iran in the wake of US sanctions. Brent for July settlement ...

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Korean shipping firms should achieve economies of scale through M&As: KPMG

Korean shipping companies could weather a downturn in the industry by achieving economies of scale through mergers and acquisitions, amid steady growth forecasts for the global cargo market, according to a latest report released by KPMG Samjong Accounting Corp. The Korean shipping industry had ranked fifth in the global market in 2009 on the back of government support, but it dropped to seventh place last year due to continued weak performance and a lack of investments. The industry has been in deficit since 2016, posting losses of $4.5 billion last ...

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Ocean Yield ASA: First Quarter 2019 Report

Fornebu, 7th May 2019, Ocean Yield ASA (“Ocean Yield” or the “Company”) announces results for the first quarter ending 31st March 2019. Highlights Declared the 23rd consecutive quarterly dividend of USD 0.1910 per share for Q1 2019. EBITDA for Q1 2019 was USD 51.9 million and EBITDA adjusted for finance lease effects was USD 67.8 million. Net profit after tax for Q1 2019 was USD 8.4 million and Adjusted net profit was USD 8.4 million. The FPSO and the Connector had a negative contribution of USD 11.8 million in the ...

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VIKING and Kongsberg collaborate to create innovative USV Sounder System

A collaboration between Kongsberg and the VIKING Norsafe boats and davits division has resulted in an innovatively designed unmanned surface vessel (USV). The Sounder USV System is a multipurpose platform designed to work across different market segments, including survey and fishery duties. VIKING Norsafe, was chosen by Kongsberg as its project partner for its years of experience in constructing tough and durable craft for use in extreme environments. The Sounder USV System has been designed specifically for military and commercial maritime uses, deploying maximum stability with minimal vibration on the ...

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Belgian Government Selects Chelsea Technologies For Ballast Water Compliance Benchmarking

The Federal Public Service (FPS) Mobility and Transport, the arm of the Belgian government responsible for shipping, has selected Chelsea Technologies, a world leader in the design and manufacture of sensors for the maritime sector and a Sonardyne company, to provide benchmark portable testing for compliance with ballast water standards. This follows the Belgian government’s decision to begin testing vessels calling at its ports and terminals to ensure they can demonstrate compliance with the IMO’s Ballast Water Management Convention (BWMC), representing one of the first European nations to enforce this ...

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Panama Canal Authority to tighten draft restriction to 43 feet

The Panama Canal Authority announced a new maximum draft restriction of 43 feet, or 13.11 meters, the sixth since January, in the Gatun Lakes, which will come into effect May 28. The current maximum draft is set at 44 feet, or 13.41 meters, which came into effect April 30 and was announced April 1. The continued tightening of draft restrictions in the Gatun Lakes are based on the projected precipitation and water levels of the lake in the coming weeks. Further draft adjustments would be announced in 12-inch, or 30.5-cm, ...

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