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Port of Los Angeles Featured on DB Schenker Facebook Live

DB Schenker, a global transportation and logistics company, recently held a Facebook Live interview with Port of Los Angeles

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Drewry: World Container Index Down 4.3% on Week

The composite index decreased 4.3% this week but 11.9% up as compared with same period of 2018. The average composite index of the WCI, assessed by Drewry for year-to-date, is US $1551/40ft container, which is $69 higher than the five-year average of $1482/40ft container. Drewry’s composite World Container Index (WCI) decreased 5.4% or $60.30 to reach $1,334.23 per 40ft container. Freight rates from Shanghai to Los Angeles plummeted $222 and stood at $1,504 per feu. Rates on Shanghai-New York dwindled $120 to $2,672 for a 40ft box. Similarly, rates on ...

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Oil tankers leave Venezuela for Cuba following sanctions -document, data

Venezuela’s state-run PDVSA has shipped 1 million barrels of oil to Cuba days after the United States imposed fresh sanctions on vessels and firms involved in exports to the island in an effort to halt oil trade between the political allies, according to a PDVSA document and tanker tracking data. Tanker Trident Hope left Venezuela’s Jose port on Wednesday, and the S-Trotter tanker left on Thursday, both bound for Cuba’s state-run company Cubametales. The first one is carrying 600,000 barrels of Venezuela’s Zuata 300 crude and the second one is ...

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MABUX: Bunker Prices Expected To Drop Today

Oil prices sliped on Thursday as OPEC mulls output hike, U.S. stocks build Oil prices fell on Thursday after sources said OPEC may raise output from July if Venezuelan and Iranian supplies fall further and prices keep rallying. Rising U.S. crude stockpiles also dragged U.S. futures down by more than $1 a barrel. West Texas Intermediate (WTI) crude fell $1.03 to settle at $63.58 a barrel. Global benchmark Brent settled at $70.83 a barrel, down 90 cents. ‘Now there is a suggestion that OPEC may surprise us and raise production ...

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U.S.-China trade war is rerouting U.S. import flows: report

President Donald Trump’s trade war with China has U.S. companies shifting purchases of tariff-targeted products like furniture, refrigerators and car tires to countries such as Vietnam, South Korea, Taiwan and Mexico, according to a new analysis released this week. Trump’s decision to slap tariffs of 10 to 25 percent on about $250 billion of Chinese goods has roiled U.S. retailers and manufacturers, who are scrambling to avoid potentially crippling cost increases. Overall U.S. imports of containerized freight from China fell 6.4 percent during the first quarter as buyers worked off ...

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Lifting the liner block exemption law will not improve shippers

Wading into the war of words between shippers and carriers in recent weeks, speakers at the TOC Asia Container Supply Chain conference in Singapore claimed removing the BER would yield no benefit to cargo owners. “There was a lot of heated discussions at the recent OECD meeting in Paris,” revealed Sea-Intelligence chief executive Alan Murphy. “All the stakeholders are pissed off with the shipping lines on everything – reliability, blank sailings, and how they cooperate together in alliances. “Now the EU Commission has given those stakeholders a club to beat ...

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Is Your IHM Report Up To Date?

From 31 December 2020, all European Flagged, or European sailing vessels from >500 GT are mandatory to carry an Inventory of Hazardous Materials (IHM) report on board. Is yours up to date? Across the world, there are around 56,000 ships that fall within these regulations. At this point, most ship owners are aware of the requirements they will need to meet in the future. Nevertheless, only a small number have already got their paperwork sorted. One of those early adopters is Incentra Norway. This procurement organization represents 40 shipping companies ...

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Thorco Projects Selects Navis’ Bluetracker for Charter-Party Compliance Monitoring and Analysis of Operating Fleet

Navis, the leading provider of maritime software solutions for efficient and compliant cargo and vessel performance, announced that Copenhagen-based Thorco Projects has selected Bluetracker to monitor and analyze the vessel performance of their own vessels and contracted vessels in compliance with the agreed terms of the charter party. The specialist in global project shipping operates one of the world’s largest multi-purpose fleets, featuring vessels with lifting capacity to handle unusually large and heavy cargo as well as excellent speed capabilities. Thorco Projects’ commitment to carrying a broad portfolio of break ...

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China leads global shipbuilding in Q1

Orders for China’s shipbuilding industry ranked top in the world in the first quarter of this year followed by South Korea and Italy, according to data released by British shipbuilding and marine analysis agency Clarkson Research Services. The research shows China’s cumulative order volume for the first quarter reached 2.58 million compensated gross tons or 35 vessels, securing 45 percent of the global market. The shipbuilding order volume for South Korea totaled 1.62 million CGT, or 24 vessels, and Italy reached 780,000 CGT, or 10 vessels. The two countries account ...

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GTT ranked 4th in the list of leading ETI patent filers at INPI

GTT obtains the 4th position in the ranking of the main ETI1 patent filers at INPI2 for 2018 with 19 patent applications for the past year. The INPI lists the top patent applicants by the number of patent applications published in 2018. The results were consolidated by group by identifying and regrouping their subsidiaries. The top ten of patent filers at INPI in 2018 totalised 185 patent applications. These companies cover very broad sectors, ranging from automobile equipment, cosmetics, agriculture and electronics. Philippe Berterottière, Chairman and CEO of GTT, declared: ...

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DP World set sights on more Latin American ports

Dubai-based ports operator DP World is eying concessions in between five and seven Latin American ports in the next year, according to the company’s chief operating officer, Mahmood Al Bastaki. Speaking on the sidelines of the Global Business Forum Latin America 2019 in Panama City, Al Bastaki said that DP World “has a big focus” on the region. “There are lots of ports that require advanced equipment and know-how,” he said, noting that DP World already has a presence in Peru, the Dominican Republic, Argentina, Brazil and Chile, where in ...

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Murmansk port hopes huge screens will trap its coal dust

Officials at the Murmansk Commercial Seaport have raised a fence they hope will trap the smog of soot rising from the coal stockpiles laying by the ton on its quays to be loaded onto ships – long the bane of city residents. The “black attack,” as locals refer to the coal dust, has been a headache in Russia’s Arctic capital for as long as anyone can remember. In the winter, grime arising from the port’s coal stores taints Murmansk’s snow banks and ice, creating gray rivers of filth with every ...

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Russia’s April NWE Urals program sees rising arb on tight global sour market

Russia’s medium sour Urals crude loading out of the Baltic ports of Primorsk and Ust-Luga has seen its appeal widen broadly during its April program, as the crude has found homes outside its typical region of Northwest Europe. Destinations for April-loading cargoes of Urals include China, the US, and numerous destinations in the Mediterranean like Spain, Italy and Turkey. While there are often a handful of cargoes that travel outside Northwest Europe, April’s arbitrage volumes are notable, said trading sources. “The market is strong and trading pretty healthily in April. ...

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Iron ore price rally could give BHP, Rio Tinto 30% earnings boost

Spot iron ore prices rose from $75 per tonne to $95 per tonne in the weeks following the Brumadinho dam disaster at Vale’s (NYSE: VALE) Feijao iron ore mine in Brazil, before settling in at about $85 per tonne, according to the latest research on the global iron ore market by the Macquarie Group. Spot prices are now back up at the $95 per tonne level as lower shipment volumes out of Australia mainly due to Cyclone Veronica have contributed to supply disruptions from Brazil, analysts at the Australian investment ...

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Analysis: Indonesian coal prices seen set to remain firm as supply tightens

Indonesian thermal coal prices are likely to remain firm in coming weeks as Chinese utilities lap up cargoes while supply typically tightens during Ramadan, market sources said this week. The price of Indonesian 4,200 kcal/kg GAR coal has jumped 4% to date in April amid a spate of Chinese tenders seeking lower grade coal. It was assessed Wednesday at $38/mt FOB Kalimantan, S&P Global Platts data showed. China’s lowering of its value-added tax to 13% from 16%, as well as a slight strengthening of its currency versus the US dollar, ...

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