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Hold the champagne, Mr Trump. China isn’t about to give the US a preferential trade deal

Seven months ago, as the United States’ tariff war on China began to bite and trade negotiations began to get serious, I crafted a memo advising Xi Jinping on his best negotiating strategy. As we are now on the brink of what Donald Trump will inevitably boast is the best US trade deal ever, I face a moment of truth: did Chinese negotiators heed my advice? Will the world trading economy emerge in a better place? Will the pain and cost of the tariff war have been justified? In short, ...

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Tanker Market Rates 08/05/2019

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

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OOCL announces new Middle East / Indian Subcontinent – North Europe Services (IP1 and IP2)

We are proud to announce that OOCL will be strengthening our North Europe service network with the Middle East and Indian Subcontinent by introducing our new Middle East / Indian Subcontinent – North Europe Services (IP1 and IP2) to be launched in June, 2019. The IP1 and IP2 provide direct linkage between the Middle East, Pakistan, India, United Kingdom, France, Belgium, Netherlands and Germany, offering more competitive and reliable services than transshipment options. It also provides fast transit times from Middle East, Pakistan and India. The coverage in United Kingdom ...

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Intellian Launches World’s First 1.5m Ku To Ka Convertible VSAT Terminal

Intellian, the global leader of mobile satellite communication antenna systems, is introducing the new 1.5m Ku to Ka convertible VSAT terminal. The world’s first and only 1.5m Ku to Ka convertible VSAT, v150NX, is a future-proof system supporting 2.5GHz Wide Ka-band networks as well as GEO (Geostationary Earth Orbit), MEO (Medium Earth Orbit) and LEO (Low Earth Orbit) constellations. Its highly efficient design delivers the best RF performance of any 1.5m system on the market today for ship owners, operators and network providers. It is easily converted to Ka-band by ...

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Funds dig deeper into bearish CBOT bets as heavy stocks, trade war weigh: Braun

Heavy world stocks, trade conflicts, and demand disruptions have led speculators to end April on a record bearish note across Chicago-traded grains and oilseeds, and a sharp reversal in investor attitude anytime soon seems unlikely. When combining money managers’ net positions in CBOT corn, wheat, soybeans, soybean meal, soybean oil, along with Kansas City and Minneapolis wheat, the overall net short reached 683,501 futures and options contracts as of April 30, up from 656,078 a week prior, which was the previous record. (tmsnrt.rs/2LqH2DO) The agriculture market has been grappling with ...

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Survitec Prepares For Market Growth With Offshore Restructure And New Offerings

Survitec has restructured its offshore division to better serve customers with assets operating in the oil, gas and wind (renewable) energy sectors. The reorganization of the business unit coincides with renewed activity in the offshore industry following the market downturn, together with Survitec’s overall strategy to hone its focus within key sectors. “The offshore market is emerging from its recent low-point, while the offshore wind market has grown exponentially over the last decade,” said Ross Wilkinson, VP of U.K. and Scandinavia who leads Survitec Global Energy. “The investments we have ...

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Long Beach Usage Agreement Helps Cosco

A 20-year usage agreement made as part of Orient Overseas (International) Limited’s (OOIL) US$1.78bn sale of Long Beach Container Terminal to Macquarie Group subsidiary Olivia Holdings will ensure a continued benefit for OOIL’s subsidary Orient Overseas Container Line (OOCL) and its owner Cosco Shipping Holdings. The usage agreement means that COSCO remains the major customer of the terminal, despite the sale of the terminal and the US government’s requirement for COSCO to sell its rights to the terminal before it could buy investment company OOIL last year, stated Neil Davidson, ...

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One Thing To Remember About The COSCO SHIPPING Development Co.

Anyone researching COSCO SHIPPING Development Co., Ltd. (HKG:2866) might want to consider the historical volatility of the share price. Volatility is considered to be a measure of risk in modern finance theory. Investors may think of volatility as falling into two main categories. The first type is company specific volatility. Investors use diversification across uncorrelated stocks to reduce this kind of price volatility across the portfolio. The second sort is caused by the natural volatility of markets, overall. For example, certain macroeconomic events will impact (virtually) all stocks on the ...

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China’s Hengli boosts Saudi oil buys as new refinery ramps up

China’s privately owned Hengli Petrochemical has increased its Saudi Arabian crude imports for April and May as it prepares to bring a new refinery in northeastern China to full capacity, according to officials and ship tracking data. The purchases have kept Saudi crude exports to China elevated so far in the second quarter despite lower global demand during peak refinery maintenance season. Saudi oil exports to China averaged at 1.37 million barrels per day (bpd) in the first four months this year, up from 1.01 million bpd in the same ...

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US wheat inspected for exports slips 25.9% on week

US wheat inspected for exports in the week-ended May 2 fell 25.9% on week to 477,918 mt, data from the US Department of Agriculture showed Monday. Market analysts had estimated wheat export inspections for the week to be in the range of 396,400-792,800 mt. With the current marketing season ending on May 31, the weekly volumes required to meet the USDA export forecast increased sharply to about 960,700 mt, according to analysts. USDA estimates US wheat exports in the current marketing year to reach 25.7 million mt, a figure that ...

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India’s MMTC postpones deadline in tender to buy corn – trade

Indian state-run trading company MMTC has postponed the deadline for offers in an international tender to import yellow corn (maize) to May 15 from May 8, European traders said. Offers must now remain valid until May 31 versus May 26 previously. The shipment period has also been changed to between June 10 and July 10, they said. Shipment had previously been sought for May 29 to June 20. The volume purchased will be decided by MMTC later depending on the level of prices received but minimum offers are 20,000 tonnes. ...

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Brazilian ethanol imports in April at highest level in 11 months: foreign trade secretariat

Brazilian ethanol imports in April were recorded at 230.7 million liters, a surge of 107% from March but still down 41% a year ago, Secretariat of Foreign Trade (SECEX) data showed Monday. This is the highest monthly volume of imports since April 2018 when 392.3 million liters were imported. Imports in the first four months of 2019 totaled 626.9 million liters, a plunge of 40% year on year, the data showed. From the total volume imported in 2019, nearly 70%, or 437 million liters, entered Brazil via the North-Northeast region. ...

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Soybeans fall for 8th session on renewed U.S.-China trade tensions

Chicago soybean futures lost more ground on Tuesday with prices dropping for an eighth consecutive session as fresh trade tensions between Washington and Beijing weighed on the market. FUNDAMENTALS * China backtracked on substantial commitments it made during trade talks with the United States, prompting President Donald Trump to impose additional tariffs on Chinese goods slated to go into effect on Friday, top U.S. trade officials said on Monday. * Trump said on Sunday that tariffs on $200 billion of goods would increase to 25 percent on Friday, reversing a ...

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China sets differential emission limits for steel sector

Five government departments, including the Ministry of Ecology and Environment (MEE), released a document to support ultra-low emission standards in China’s steel industry by setting limits that vary by category. According to the document, which was sent by the MEE to the Global Times on Sunday, the government will set different emission limits and management measures for organized emissions, fugitive emissions as well as bulk material transportation. The document also specifies different emission limits for different pollution sources including sintering machine heads. These classifications show the “scientific nature” of the ...

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Funds dig deeper into bearish CBOT bets as heavy stocks, trade war weigh: Braun

Heavy world stocks, trade conflicts, and demand disruptions have led speculators to end April on a record bearish note across Chicago-traded grains and oilseeds, and a sharp reversal in investor attitude anytime soon seems unlikely. When combining money managers’ net positions in CBOT corn, wheat, soybeans, soybean meal, soybean oil, along with Kansas City and Minneapolis wheat, the overall net short reached 683,501 futures and options contracts as of April 30, up from 656,078 a week prior, which was the previous record. (tmsnrt.rs/2LqH2DO) The agriculture market has been grappling with ...

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