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Market observers are seeing more upside than expected in China’s economy with more signs of stabilizing in the first quarter and the consumption driver revving up. While official data including trade and inflation of March are yet to be released for this week, market sentiment has already been buoyed by positive indicators that are playing down concerns over uncertainties in the world’s second-largest economy. Snapshots of the January-February period pointed to a pick-up in investment, stable consumer spending and optimized industrial structure, and more obvious recovery has been identified in ...

U.S. officials are “not satisfied yet” about all the issues standing in the way of a deal to end the U.S.-China trade war but made progress in talks with China last week, a top White House official said. The United States and China have been embroiled in a tit-for-tat tariff battle since July 2018, roiling global financial markets and supply chains and costing both of the world’s two largest economies billions of dollars. U.S. officials are pressing China to make changes to address longstanding concerns over industrial subsidies, technology transfer ...

Britain is at the end of the road, not only because of its messy attempt to leave the European Union, but also because of its physical position with regard to China’s Belt and Road Initiative (BRI). Unlike Italy, which is set to become a way station for the BRI’s march into continental Europe, all roads from Britain lead to nowhere. As the UK staggers and stumbles toward some kind of exit from the EU, like a drunken man through a revolving door, some Brexiteers are looking to a UK-China free ...

Grand Banks Yachts Limited (“Grand Banks”) announced that it will unveil the Palm Beach GT50 – a sleeker, faster and fuel-efficient newly designed luxury yacht which has won major international awards – to Asian buyers at the April 11-14 Singapore Yacht Show 2019. The GT50 made its international debut last September at the Newport International Boat Show, where it swept awards for ‘Best New Powerboat over 35 Feet’ and ‘Best Powerboat Overall’. The Grand Banks display was also named overall ‘Star of the Show’ for presentation and marketing during the ...

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

Eighty vessels carrying 12.08 million mt of iron ore arrived at major Chinese ports

29 senior maritime officials from 26 countries, and the International Maritime Organization, have convened in Singapore for the 3rd Advanced Maritime Leaders’ Programme (AMLP) from 7 to 12 April 2019. The 3rd AMLP is held in conjunction with Singapore Maritime Week (SMW) 2019. Organised by the Maritime and Port Authority of Singapore (MPA) Academy, in partnership with the Singapore Management University and supported by the Ministry of Foreign Affairs under the Singapore Cooperation Programme, the AMLP focuses on leadership development and is designed for senior maritime officials and their deputies ...

A tiny coastal nation in the Horn of Africa hopes it can one day become the heart of shipping on the continent. Djibouti, located at the mouth of the red sea, sits along the Gulf of Aden – one of the world’s busiest shipping routes. However, it has a population of less than one million, and several other African nations have a head start. South Africa, Kenya, Tanzania and Mozambique already have much larger, busier ports. Despite this, Djibouti aims to become a gateway to South Sudan, Somalia and the ...

How can marine insurance play an active role in helping industry and society meet future challenges and opportunities? Skuld CEO Ståle Hansen knows he doesn’t have all the answers, but he’s committed to contributing towards both commercial and environmental sustainability in any way he, and his company, can. This is Skuld’s policy for tomorrow, today… Walking into Skuld’s head office in Oslo immediately dispels many of the preconceptions dogging the maritime insurance industry. The bright and lively building, housing around 140 of the firm’s 270 staff, is populated by smart ...

The Global Maritime Forum announces its first Future Maritime Leaders essay competition. The competition is looking for youth perspectives on how current trends will shape the future of the maritime industry and the wider society. The authors of the three winning entries will be invited to represent the young generation at the Global Maritime Forum’s Annual Summit in Singapore on 30-31 October 2019. The world is undergoing a profound transformation. Trade wars and geopolitical tensions are disrupting international relations and trade patterns. At the same time, we are witnessing how ...

UK-based crew transfer specialist High Speed Transfers (HST) has announced that its second vessel of Damen’s new FCS 2710 class will be contracted by Shell to support its exploration programme in the Black Sea commencing March 2019. Damen has long been in discussion with Shell and other oil majors on where and how to change the logistical mix for crew change purposes by accessing Damen’s portfolio of marine access solutions. An intensive, multi-disciplinary R&D programme attuned to industry input has resulted in Damen developing vessels that combine increased efficiency and ...

The U.S. Coast Guard on Sunday restricted outbound traffic along a portion of the Houston Ship Channel after severe storms halted cleanup operations from last month’s petrochemical fire and chemical spill. The petrochemical fire at Mitsui & Co’s Intercontinental Terminals Co in Deer Park, Texas, last month damaged or destroyed 11 giant tanks holding millions of gallons of fuels used to make gasoline and plastics. The storms forced the closure of one site used to check and decontaminate ships moving through areas where fuel was found after the fire. Operations ...

Total tonnage cargo handled in Saudi ports during the month of March 2019 was over 22 million tons. The ports saw an increase of 2.78% compared to the corresponding period of the previous year, the Saudi Press agency reported. The number of handling containers reached 550,000, marking an increase of 8.72% in the same of 2018, according to the statistical index issued by the Saudi Ports Authority ”MAWANI”. The number of vessels in the Saudi ports during the month of March 2019 was 1010 vessels. Meanwhile, the number of passengers ...

Egypt needs to raise the competitiveness of its ports if it wants to attract greater volumes of transit trade, Suez Canal Container Terminals (SCCT) management told journalists this week. What costs around $70,000 at the East Port Said Port costs 60 per cent less, or around $30,000, at the Greek port of Piraeus, Hany Al-Nady, public and government relations and security director of the SCCT told journalists at a roundtable in Cairo on Sunday. However, these figures are still an improvement on fees that had risen to unprecedented heights in ...

Gulftainer, the world’s largest privately owned independent port operator based in the UAE, celebrated the signing of its first customers for the newly introduced sea cargo clearance service, Sharjah Port of Trade (S.P.O.T.). Within a month of the launch, the company has secured four customers for S.P.O.T. that serves as an inland extension of the Gulftainer-operated Khorfakkan Container Terminal (KCT). The unique S.P.O.T. facility is located at the crossroads of the E311 highway and Maliha Road, providing unparalleled connectivity between Sharjah and Dubai with substantial cost and time savings for ...