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United States Trade Representative Robert Lighthizer did not see any progress made on structural issues during U.S. talks with China last week, Republican U.S. Senator Chuck Grassley said on Tuesday as plans emerged for higher-level discussions at the end of January. Grassley, who held a meeting with Lighthizer on Friday, said the top trade negotiator commented positively on China’s soybean purchases, which resumed in modest amounts last month after Washington and Beijing agreed to a 90-day truce in a trade war that has disrupted the flow of hundreds of billions ...

Donald Trump’s mission to decouple the United States and Chinese economies is doomed to fail, with former US trade chief and World Bank president Robert Zoellick warning: “You can’t contain China.” Fear of China’s potential dominance of future technologies is one of the primary drivers of the trade war, which is widely viewed as an attempt at countering this rise. The trade war is also seen as a way of forcing US companies to shift their supply chains out of China, thereby decreasing the integration of the two economic superpowers. ...

Mario Draghi broke his silence on Tuesday after sitting through a month of growing doubts over the durability of the region’s economic expansion. The European Central Bank president is making his first appearance of 2019 — and probably his final one before the Jan. 24 policy decision — at the European Parliament in Strasbourg. Comments in the morning marked the 20th anniversary of the euro with a call for more reforms, though the focus is on a longer address and closing remarks in the afternoon. Draghi is in parliament on ...

News that the European Central Bank wants euro zone banks to set aside more money for their soured loans sank shares in Italian lenders and sparked a rebuke from one of the country’s top politicians. The ECB will set a target date for each of the banks it supervises to make a full provision for its bad debts, both existing and new, a source familiar with the matter said. The date may differ from bank to bank and will be an expectation for the medium term rather than a binding ...

Today, Wednesday, January 16 2019, the Baltic Dry Index decreased by 41 points, reaching 1055 points.

Seventy-three vessels carrying 10.67 million mt of iron ore are expected to arrive at major Chinese ports in the week

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

Today, Tuesday, January 15 2019, the Baltic Dry Index decreased by 51 points, reaching 1096 points.

Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargoes announced that, pursuant to the previously announced transaction of August 28, 2018, it took delivery of the last two of the three firm dry bulk vessels, namely the 2010 built Capesize vessels M/V E.R BRANDENBURG and M/V E.R BOURGOGNE (the “Vessels”), on January 7th, 2019 and January 14th, 2019 respectively, from an entity affiliated with E.R. Capital Holding GmbH & Cie. KG (the “Sellers”). The Vessels were acquired for a combination of cash and ...

After a break through 2018 signing multiple top 10 global carriers, top 20 freight forwarders, releasing a world first new product range and signing millions of dollars of new contracts, Kontainers, an enterprise software as a service company serving carriers and freight forwarders with their own branded platforms, is taking the next steps toward being a dominant force in Enterprise SAAS in the freight sector with a number of new appointments: Jesper E. Thomsen – Adviser and investor John Gilleran – Adviser Graham Parker CEO says, “We are delighted to ...

Zacks Investment Research cut shares of Ardmore Shipping (NYSE:ASC) from a hold rating to a sell rating in a report released on Tuesday. According to Zacks, “Ardmore Shipping Corporation engages in the ownership and operation of product and chemical tankers. It provides shipping services to customers through voyage charters, commercial pools, and time charters. The Company provides seaborne transportation of petroleum products and chemicals worldwide to oil majors, national oil companies, oil and chemical traders, and chemical companies. Ardmore Shipping Corporation is based in Mahon, Ireland. “ Other equities research ...

Two other shipping giants operating in the Philippines are braving the rough waves of the global shipping business and are even expanding their business in the country. Tsuneishi Heavy Industries Inc., a joint venture between Japan’s Tsuneishi Holdings and the Aboitiz Group, said it is business as usual for the company and that it has no plans to close its shipyard in Balamban, Cebu despite some slowdown in the global shipping business. In an interview with The STAR over the weekend, Aboitiz Equity Ventures (AEV) president and CEO Erramon Aboitiz ...

It is important to remember that, in the seemingly unlikely event that this deal is agreed by Parliament, this is the beginning of a process, not the end of it. We have yet to negotiate more than the basic principles behind our future relationship with the EU and there remains much to be agreed, including fundamental questions around if and how goods are checked and handled at the border. If the deal tonight falls, then we would encourage Government to urgently set out its plans for avoiding a disorderly withdrawal ...

Reports of high swells in Callao, Peru, are not expected to affect bunker operations there, market sources said Monday. Port agents warned of high swells along the central coast — from Chimbote to San Nicolas — from Monday through Wednesday. A local supplier source said that at the moment there was no concern at all about the swells. Wave heights up to 50% more than normal are expected until Monday afternoon, the Peruvian Navy reported in a statement on its site. “At the moment it’s not affecting us, but it ...

On top of the roof of Dublin Port Company’s headquarters, you can see lots of building work amidst all the docked ships at the River Liffey’s mouth. And while that construction is not entirely Brexit-related, management at the port, BBC News reports, says it has to be prepared for the possibility of a no-deal and any potential economic fallout. The UK is scheduled to leave the EU on 29 March, whether or not there is a negotiated deal. British Prime Minister Theresa May is hoping that her draft Withdrawal Agreement ...