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How Populists Can Ruin a Global Recovery

There is a strange sound of relief coming out of the International Monetary Fund. The IMF has slashed its global growth forecasts to the lowest level since the financial crisis, but it also believes policy makers may have stepped in just in time to avoid a turn for the worse. Central bankers deserve credit for pausing on their long road back to a more normal monetary policy. This has helped to bring some calm to financial markets and may help to lift growth in the second half of this year. ...

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China says discussed remaining issues with U.S. trade negotiators

China’s commerce ministry said on Thursday that senior trade negotiators from the United States and China discussed the remaining issues in a phone call following the last round of talks in Washington. Both teams will keep in close communication and work at full speed on the trade talks, ministry spokesman Gao Feng told reporters in a regular briefing. Source: Reuters (Reporting by Yawen Chen and Beijing Monitoring Desk; editing by Darren Schuettler)

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What the US will lose in a trade agreement with China, thanks to Donald Trump

As the US and China get closer to a possible trade deal, the World Trade Organisation is set to lose its principal role as an arbiter of disputes. That has significant consequences for global trade, and underlined the re-emergence of bilateral agreements that once hindered global trade and development for decades. It’s no surprise that US President Donald Trump’s go-it-alone strategy to upend the status quo runs straight through Geneva. As a presidential candidate, he ran on rebellion. Once in office, he wasted no time reversing US participation in a ...

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Donald Trump’s four-week time frame to end US-China trade war is an ‘uncertain timetable’, says state media

Donald Trump’s four-week time frame for the United States and China to settle on an agreement to end the trade war is not guaranteed, with an editorial in a newspaper closely affiliated with Beijing urging patience “as neither side has made any promise that there will definitely be a deal.” US President Trump met Chinese Vice-Premier Liu He on Thursday and said that the two nations would know “over the next four weeks” whether a trade deal could be reached. But while it is still uncertain when, or even whether, ...

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IMF says Germany, China and others might need fiscal stimulus

The International Monetary Fund warned that fiscal stimulus could be needed in Australia, Germany, China and several other countries due to the risk of a sharper-than-expected economic slowdown. The global lender said there was a case that these countries, which also included South Korea and Japan, should enact “limited, high-quality fiscal stimulus.” In its Fiscal Monitor report published as officials gather in Washington for the spring meetings of the IMF and World Bank, the IMF said any fiscal stimulus in China and Japan should be accompanied by a “credible medium-term ...

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Singapore Ready to Supply Clean Ship Fuel

Singapore, the world’s largest maritime refueling port, said it will have an ample supply of cleaner fuel to meet an increase in demand next year, when the global commercial fleet will be required to cut sulfur emissions. Janil Puthucheary, the island state’s senior minister for transport, told a shipping conference Tuesday that Singapore has been working with big oil refiners and shipowners and will have no problem procuring sufficient volumes of fuel that is compliant with new industry rules. The Singapore port is a major fuel supplier for vessels servicing ...

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Launching “Quality Control” module ahead of IMO 2020 bunker regulations

Bunker Connect has made the quality control module available in its bundle of services. The module is also separately available as a standalone service. The online tool is able to extract lab sample reports from all the major laboratories and project bunker quality insights about ports, suppliers and even individual barges. The tool is very flexible and can automatically import data from emails, PDF, API or an online portal. Find out and compare who is supplying what kind of product in which ports. Shipowners can share the sample reports among ...

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Rhine River Could Run Too Low Again for Shipping in Germany

Germany’s Rhine River could be impassable to ships again this summer if Europe has another drought, a once-rare weather phenomenon that’s becoming more likely with an increase in the temperature. That’s the opinion of German and Swiss scientists who say that heavy snowfalls in the alpine regions at the river’s source are no guard against a repeat of low river levels, which blocked a key choke-point in October. Last year’s impasse was severe enough to dent German economic growth and underlines how even advanced economies are feeling the impact of ...

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Don’t believe 2020 fuel price ‘doomsday’ predictions

Doomsday predictions surrounding the IMO 2020 sulphur fuel cap and the impact on container lines are unfounded, according to Alphaliner chief analyst Tan Hua Joo. Speaking yesterday at the TOC Asia Container Supply Chain conference in Singapore, Mr Tan poured scorn on claims of market chaos and carrier bankruptcies. “This is the most important subject for the industry in the coming months,” admitted Mr Tan. “But there’s been some pretty catastrophic predictions being made, and while there’s a lot of uncertainty on IMO 2020, I don’t think these dire predictions ...

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Wärtsilä Online launched to enhance customer experience in managing their installed assets

The technology group Wärtsilä announces the launch of Wärtsilä Online, a totally new web-based customer platform aimed at providing a state-of-the-art support service that allows customers to better manage their installed assets. The new platform replaces the company’s current customer portal, Wärtsilä Online Services, which has been supporting customer installations since 2014. Wärtsilä Online is designed to be a ‘best-in-class’ customer service. It enables mobile usage, and has enhanced and completely new features that create notable customer value in terms of smart maintenance management and real-time collaboration. This 24/7 service ...

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Bunker quality, safety management & early intervention top the agenda at North P&I Greek seminar

North P&I Club put bunker quality issues and safety management centre-stage at its annual seminar for the Greek shipping community, held last week at the Yacht Club of Greece in Mikrolimano, Piraeus. North’s Colin Gillespie and John Southam spoke to the delegates on the evolving nature of safety management and the emergence of Safety Management 2.0.Arguing that a systems-based approach to safety that relies on processes and checklists is no longer sufficient, Colin and John explained the importance of a new approach to safety that embraces other vital elements, including ...

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SMEs in ship agency and harbour craft sectors can seek grants from $3.7 million fund to digitalise

Firms in the ship agency and harbour craft sectors in the maritime industry can now tap a $3.7 million fund for digital solutions. The fund is part of the Sea Transport Industry Digital Plan (IDP), which aims to help small and medium-sized enterprises (SMEs) in the sector digitalise, Senior Minister of State for Transport Lam Pin Min said. The IDP was announced by Dr Lam during the Ministry of Transport’s Committee of Supply debate last month. Speaking on Wednesday at the Singapore Maritime Technology Conference at the Sands Expo and ...

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Brexit fog worse than no-deal risk – Belgian port chief

Uncertainty over Britain’s departure from the European Union is worse than the prospect of a “no deal” Brexit just days away, according to the head of the port of Zeebrugge. The Belgian port, half of whose cargo exports head to Britain, has hired more than 140 new customs officers and paved more than 500 new parking spots for trucks to ready itself a Britain’s crash out of the European Union, which could happen on Friday. “The worst case scenario is already today, that we don’t know what happens. It is ...

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Fujairah data: Oil products stocks rise 8% on week to record 25.088 mil barrels

Oil product inventories in the Fujairah trading hub rose 7.8% week on week to a record 25.088 million barrels Monday, led by swelling stockpiles of marine fuels and other heavy distillate residues, data released Wednesday by the Fujairah Oil Industry Zone at the city’s port showed. Stocks were last higher at 24.4 million barrels in July 2017, FOIZ data provided exclusively to S&P Global Platts showed. Heavy distillates inventories jumped 18% week on week to 11.747 million barrels, the highest since December 2017 and exceeding the total for light distillates ...

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Oil shipments from Georgia’s Batumi port drop 29 pct in Jan-March

Oil and oil-related shipments from Georgia’s Black Sea port of Batumi dropped 29 percent in the first three months of 2019 from a year earlier, an official at a KazMunaiGas-operated terminal at the port said. Shipments of crude oil and refined oil products from Batumi have fallen in recent years, partly because Azerbaijan prefers to send its oil through the Baku-Tbilisi-Ceyhan pipeline or via its own terminal at the Georgian port of Kulevi, rather than from Batumi, which is operated by a Kazakh company. There were no shipments of crude ...

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