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Pain in Asia pushes dollar to two-and-a-half week high as investors seek safety

Signs that Asia is already feeling the pinch from a trade conflict between the United States and China triggered some safe haven flows to the US dollar on Tuesday, while higher U.S. Treasury yields made the trade more palatable. Surprisingly soft economic growth data from Singapore and Thailand have raised worries that major Asian economies will be hurt by global trade tensions. Meanwhile, Australia’s top policymaker Philip Lowe said on Tuesday the RBA will consider the case for lower interest rates at its June policy meeting, pushing the Aussie dollar ...

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Will the escalating US-China trade war and its catastrophic aftermath push the global economy into its next recession?

Heightened trade tensions between the United States and China have raised the risk of a recession next year if the dispute between the world’s two largest economies is prolonged and escalates further, according to economists and portfolio managers. Just over two weeks ago, Washington and Beijing seemed poised to reach an agreement to end a trade war that has hurt American businesses that rely on products made in China, increased costs for US companies and consumers, and contributed to an economic slowdown in China. But the dispute has escalated recently ...

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Full-blown trade war will push world towards recession – Morgan Stanley

A collapse of U.S.-China trade talks and hike in tariffs on Chinese goods would push the world economy towards recession and see the Federal Reserve cut U.S. interest rates back to zero within a year, analysts at Morgan Stanley said. While a temporary escalation of trade tensions could be navigated without much damage at all, a lasting breakdown would inflict serious pain. “If talks stall, no deal is agreed upon and the U.S. imposes 25% tariffs on the remaining circa $300 billion (£235 billion) of imports from China, we see ...

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Port of Venice – The Art of BreakBulk

Port of Venice – The Art of BreakBulk – 1000 years of large cargo shipping experience

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SABRINA – WAH KWONG SHIPPING, LPG tanker

The WAH KWONG SHIPPING managed EXMAR owned LPG tanker SABRINA sailed the Kanmon Strait.

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MMi Daily Iron Ore Index Report May 20 2019

Some physical iron ore port quotes rose today, though the market was broadly stable despite a bullish DCE

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MABUX: Bunker Market Could Start Week With Fall

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) continued upward trend on May 17: 380 HSFO – 418.57(+7.43) 180 HSFO – USD/MT – 464.79(+6.86) MGO – USD/MT – 668.64(+5.43) Meantime, world oil indexes edged lower on May 17 due to demand fears amid a standoff in Sino-U.S. trade talks. Brent for July settlement decreased by $0.41 to $72.21 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for June delivery dropped by ...

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Five New Members Join The Digital Container Shipping Association, DCSA

The Digital Container Shipping Association (DCSA), a neutral and non-profit association established by MSC and partners, welcomes five new members as per the latest DCSA announcement. Pending regulatory approval, Evergreen Line, Hyundai Merchant Marine, Yang Ming and ZIM join DCSA with the purpose of enabling digital standardization in the container shipping industry. CMA CGM has been added to the Supervisory Board after confirming its position as one of the founding members of DCSA. The association currently includes nine of the largest container shipping lines in the world, representing 70% of ...

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Aage Hempel and e3 Systems sign new strategic co-operation agreement for the marine market

Aage Hempel and e3 Systems are pleased to announce the signing of a new strategic co-operation agreement taking advantage of both companies’ strengths in the marine market, further enhancing our capabilities to elevate customer satisfaction and experience. The agreement was signed on 8 May, 2019, at e3’s HQ in Mallorca, by e3 Group Managing Director, Roger Horner and Aage Hempel Group Managing Director, Ioannis Papaefthymiou. Commenting on the co-operation agreement, Roger Horner said: “e3 and Aage Hempel have much to offer each other and wherever there is an opportunity, we ...

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Risk Profile – Middle East Iran-USA Tensions: What Next?

Following the attack on commercial vessels off the coast of Fujairah, UAE, on 12 May 19, there has been a renewed focus upon the wider geopolitical situation in the Middle East, and the risk that these variables could pose to commercial operations in the region. As events continue to evolve, it remains vital that commercial entities within the region understand and are able to interpret events in a manner that allows for appropriate due diligence and contingency planning. There has been a gradual ratcheting up of tensions between the US ...

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From pirates to suicide bombers: previous Gulf naval attacks

Four ships were “sabotaged” off the coast of Fujairah on Sunday, according to the UAE and Saudi governments. However, it is not the first time that the vessels have been targeted in the Gulf region. Despite being one of the most important strategic waterways in the world – and one of the best defended – naval attacks are rare but not unheard of. Here, we look back on some of the other incidents which have occurred in the region over recent decades. The Japanese supertanker When the M Star, a ...

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China’s Jan-Apr new ship orders plunge 47% on year

Tough market conditions led the volume of new ship orders received by China’s shipbuilders during the first four months of this year to plunge by 47.3% on year to the equivalent of 9.49 million dead weight tons (dwt), according to the latest release by the China Association of the National Shipbuilding Industry (CANSI) on May 17. “Over January-April, the global freight market was fragile and weak in general, a situation that caused continuing declines in new orders worldwide,” CANSI stated. However, it noted that during January-April the speed of the ...

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India: Major ports cargo traffic rises 6 pc to 60 MT in April

India’s 12 major ports recorded 5.65 per cent rise in cargo handling to 60.07 million tonnes (MT) in April this fiscal, mainly due to higher demand for coal, petroleum, oil and lubricants, industry body IPA said. These top ports, under the central government, had handled 56.86 MT of cargo in April last year. Increased demand from various sectors, including coal, POL (petroleum, oil and lubricant) and containers, was the main reason behind the growth in traffic, as per the latest data from the Indian Ports Association (IPA). Coking coal volumes ...

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Nigerian Seaports Record 7.3% Drop In Ship Traffic

Nigerian ports recorded a downward trend in operational activities in the third quarter of 2018 as the number of vessels that called at the ports dropped from 1,045 in the corresponding period of 2017 to 969, showing a decrease of 7.3 per cent. This information is contained in the Nigerian Ports Authority (NPA) 2018 third quarter operational performance. According to the report, the gross registered tonnage of vessels completed stood at 31,747,589, representing a drop of 7 per cent over the corresponding period of 2017. Similarly, container and vehicle traffic ...

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Saudi Customs departs the first blockchain shipment to Rotterdam

Saudi Customs witnessed the arrival of the first shipment powered the blockchain technology. The cargo departed Dammam Port in Saudi Arabia bound for Rotterdam while its data and documents were handled by all parties to the shipment on a national single window, FASAH. This is the second milestone within the pilot program launched by customs last year, in collaboration with TradeLens, aiming to transform the shipping industry in the region to become faster, more transparent and efficient in its real-time operations. TradeLens, co-developed by Maersk and IBM, uses blockchain technology ...

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