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Navis, a part of Cargotec Corporation, and the provider of operational technologies and services that unlock greater performance and efficiency for leading organizations throughout the global shipping industry, announced today that Régie du Terminal à Conteneurs (RTC) Douala went live with Navis 360 Managed Services in the cloud to help make the most out of its N4 investment. The terminal added 360 Managed Services to enhance its terminal operations, optimize operations and management on N4, and remain competitive in the industry. RTC, formally Douala Container Terminal, within the main port ...

China’s move to allow ferrous scrap imports to restart in January is likely to have a limited impact on domestic steelmaking costs, constrained by the lack of scrap available globally to import, market sources said Jan. 13. While the more optimistic sources said scrap imports could reach 10 million mt/year in 2021 if domestic steel margins remain strong, others expected the volume would be well below 10 million mt as recovering overseas demand for scrap has pushed up seaborne scrap prices. “Even if there is policy support, scrap imports won’t ...

Pricing sentiment remained bullish in the German steel market for January, data from the monthly steel sentiment survey by S&P Global Platts showed, with all participants expecting increases in both steel and raw material costs, and most respondents optimistic about capacity ramp-ups in the near-term. Production levels are expected to increase, sources said, as more blast furnaces are expected to restart in the first quarter of 2021, although maintenance issues at some European mills could lead to potential delays. In the survey of German producers, distributors, and traders conducted at ...

U.S. soybean and corn supplies in September will be smaller than previously forecast due to a reduced estimate of last fall’s harvest, the U.S. Agriculture Department said this week. The crop revisions will intensify fears of shortages in 2021, after governments tried to lock in extra food supplies amid the COVID-19 pandemic that disrupted global supply chains and thinned U.S. stockpiles. Concerns about tight supplies have pushed Chicago Board of Trade corn, soybean and wheat futures to multi-year peaks in recent weeks and prices for all three commodities surged to ...

The twin crises of coronavirus and the oil price crash made 2020 a tumultuous year. Exploration faced budget cuts, campaign cancellations and team downsizing – but not all is lost. High-impact drilling has continued. And the fundamentals for profitability look set to stay. We asked our experts what explorers will focus on in 2021 and what will shape the sector’s gradual recovery. Fill in the form on this page for a complimentary copy of the full report. Or read on for a short introduction. Exploration will be less visible We ...

The US Energy Information Administration Jan. 12 raised its natural gas consumption forecasts for the first two quarters of 2021, even as it continued to predict rising gas prices will help drive consumption declines for the fuel source through 2022. The agency, in its January Short-Term Energy Outlook, raised its gas consumption estimates by 1.3 Bcf/d to 97.86 Bcf/d for Q1, and by 1.54 Bcf/d to 65.84 Bcf/d for Q2. But the overall trend is for declines; after averaging 83.06 Bcf/d in 2020, US gas consumption is expected to drop ...

Soggy demand and growing capacity As seen with most markets in 2020, LNG was unable to escape the Covid-19 related demand hit, with industrial gas demand weighed down by lockdowns. This saw LNG prices in Asia trading to record lows, which also weighed on regional gas hub pricing around the globe, and in particular Europe. This only added to what was already set to be a bearish year for LNG markets, following a mild winter, along with the fact that around 24mtpa of LNG export capacity was scheduled to start ...

U.S. greenhouse gas emissions fell 10.3% in 2020, the largest drop in emissions in the post-World War II era, as the coronavirus crippled the economy, according to a report released Tuesday by the Rhodium Group. The economic fallout from the uncontrolled spread of COVID-19 – especially in big emitting sectors like transportation, power and industry – resulted in a sharper emissions drop than the 2009 recession, when emissions slid 6.3%. The drop means that the United States would outperform its pledge made under the Copenhagen climate accord to reduce greenhouse ...

Investors shrugged off U.S. President Donald Trump’s record second impeachment and focused instead on reports on Thursday that his replacement, Joe Biden, will lay out a new U.S. $2 trillion stimulus programme later. Hopes for the supersized package lifted most major stock markets. Japan’s Nikkei hit a three-decade peak in Asia and Europe opened 0.4% higher as traders there ignored the prospect of another Italian government collapse. In the bond markets there was starting to be signs of selling again. The yield on 10-year U.S. Treasuries — the benchmark for ...

Even as most consensus trades hit the jackpot again in the first weeks of the year, global investors have been left puzzled by one refusenik – a suddenly enlivened U.S. dollar. Partly because a bouncing buck just doesn’t fit with the rest of the prevailing “reflation” narrative, many currency analysts have just put its reversal down to an overstretch. And make no mistake, there were few dollar lovers coming in to 2021. COVID vaccines had arrived to goose a global recovery and de-stress the financial system further, political risks around ...

The EU-China Comprehensive Agreement on Investment, which had been negotiated for seven years and was officially signed on Dec 30, will help accelerate China’s “dual circulation” development paradigm. The agreement comes just when the world is undergoing momentous changes not seen in a century amid the COVID-19 pandemic, when countries have locked down and the global economy is sluggish. In addition, the rise of anti-globalization, unilateralism, trade protectionism and Sino-US trade friction has increased the instability of the international environment. Against this complex international background, adhering to the concept of ...

Today, Thursday, January 14 2021, the Baltic Dry Index decreased by 64 points, reaching 1792 points.

Cyber-crime connected with fraudulent demands for payments continue to plague the maritime sector as a large claim handled by the International Transport Intermediaries Club (ITIC) demonstrates. A ship manager received an email from a shipyard detailing the first payment that was due for agreed repairs. The ship manager scheduled the payment but on the day before the monies were to be released, the ship manager received a further mail. This message explained that due to a certain difficulty, the routing details for the first payment had been changed. However, this ...

We would like to update you on operational status in Canada and the United States. TERMINAL OPERATIONS Los Angeles / Long Beach (LAX/LGB) Vessel/Terminal (T) Delay Update: There are currently 35 ships at anchor awaiting berths in LAX/LGB as of Friday Jan 8th. All terminals continue to be congested due to the spike in import volumes and the same is expected to last until February 2021. Moreover, terminals are working with limited labor and split shifts (COVID-19 related). This labor shortages affect all terminals Turn-around-time (TAT) for truckers, inter terminal ...

Industrial energy storage experts, Sterling PlanB (SPBES), and technical sales and service company MJR Power & Automation have announced a new partnership agreement today, aimed at expanding access to purpose-designed energy storage solutions to UK-based customers in marine markets. Together, they increase access to hybrid and fully electric propulsion and power solutions throughout the sector. The partnership comes when increasing pressure from the International Maritime Organisation (IMO) to achieve regulations targets means that many marine companies are rapidly adjusting their operations to reduce tier 1, 2, and 3 emissions. The ...