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Trump faces calls for removal, possible impeachment after Capitol chaos

President Donald Trump faced the threat on Thursday of a second impeachment, a day after his supporters breached the U.S. Capitol in a stunning assault on American democracy as Congress was certifying President-elect Joe Biden’s victory. As Democratic leaders demanded his ouster, Trump came closer than he ever has to a formal concession, acknowledging a new administration would be sworn in on Jan. 20 and vowing to ensure a “smooth transition” in a video released on Thursday evening. The president condemned Wednesday’s violence, saying rioters had defiled the seat of ...

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Will A New Year Bring Improved Economic Data?

What can we expect from the markets and the economy as we head into the new year? To understand where we may be going, it helps to first take a look back. Given the significant changes we saw in December, it is especially important to do so this year. After all, we’re starting January in a place that holds better news, better prospects, and lower risks. December: Risks Dropped Despite Uncertainty Great month for the markets. Markets are reflecting the improved environment. December 2020 was a great month for pretty ...

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Survival Of The Kindest: A New Mantra To Rebuild The Global Economy

That our current global economic system is broken is no surprise. The question is where to turn to for hope. New insights from nature may provide the answer. A broken economic system Underlying economic injustices have been magnified by the coronavirus pandemic. Historically underrepresented groups have all fared worse off over the past 12 months since the outbreak of the virus. A younger generation now faces a historic amount of debt, similar to having faced a World War, in addition to the challenges of irreversible climate change and global biodiversity ...

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Investment deal expected to bolster European dealmaking in China

European companies are expected to hunt for assets in China, mainly in insurance, healthcare and automobile sectors, after the world’s second-largest economy and the European Union agreed to an investment deal last month, lawyers and bankers say. The agreement, which took nearly seven years to reach and commits to more liberalisation of China’s market will likely take another year to enter into force. It is not clear if the deal grants more leeway on mergers and acquisitions. However, bankers believe China inbound dealflow, which for decades has remained small compared ...

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Recapping 2020: Politics, Covid-19, Economy, Investment Themes For 2021

As we say goodbye to 2020, our focus is on 2021 and the many things that will unfold. Last year was, to say the least, difficult and life altering for people, businesses, and governments worldwide. The explosion of misinformation, which was also mind boggling, contributed greatly. The Covid-19 Pandemic will surely be remembered as a key turning point in American and world history. Many trends emerged and other trends accelerated as a result. We’ll discuss todays Georgia Senate runoff, the coronavirus, the economy, a Biden presidency, and investment themes for ...

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Baltic Dry Index climbs to 1,606, up 158 points

Today, Friday, January 08 2021, the Baltic Dry Index climbed by 158 points, reaching 1606 points.

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FBX Index: A turning point in risk management?

We are without a doubt in one of the strongest bull-markets for the container carriers seen in the last few decades, with container rates on many trade lanes setting records week after week. But how long will this last? The answer to this question is incredibly important for anyone – shipper and carrier alike – trying to plan more than just a few weeks into the future in the current market environment. However, the most honest answer to the question right now is that no-one knows this for sure. The ...

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MABUX: Bunker market this morning, Jan.08, 2021

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) changed irregular on Jan.07: 380 HSFO – USD/MT – 354.01 (+3.13) VLSFO – USD/MT – 439.00 (0.00) MGO – USD/MT – 497.60 (-2.91) Correlation of MBP (Market Bunker Prices) Index vs DBP (Digital Bunker Prices) Index in the four global largest hubs showed on January 7, that 380 HSFO fuel was undervalued in Rotterdam by $12, in Singapore by $5 and in Fujairah by $3, remaining overpriced in Houston ...

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Iranian ship arrives at Venezuelan port, data shows

An Iranian ship arrived at the Venezuelan port of La Guaira on Thursday, according to Refinitiv Eikon data, in what appeared to be a continuation of the commercial alliance between the two countries targeted by U.S. sanctions. Iran has been supplying gasoline to ease fuel shortages in Venezuela caused by decay of the South American nation’s refineries and worsened by sanctions. It has also shipped food to help the government of President Nicolas Maduro. The Iranian-flagged general cargo ship Golsan, owned by Mosakhar Darya Shipping Co, left Iran in late ...

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ZIM Shipping Pins Growth Plan on Its Small Scale

Israeli container ship operator ZIM Integrated Shipping Services Ltd. is trying to turn its small size into an advantage in a business dominated by outsize carriers running megaships in global supply chains. The company is touting its “flexibility and agility” to capitalize on the surging demand from mainly Western retailers looking to circumvent shipping logjams by using premium-priced, point-to-point services. ZIM, which has struggled in the past to find a profitable place in the shadow of its big competitors, used its strategy to turn a $157.8 million profit in the ...

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United Overseas Group to acquire United Arab Chemical Carriers

Investment company United Overseas Group (UOG) is to acquire Dubai-based shipping company United Arab Chemical Carriers (UACC), the two companies said. The deal is subject to regulatory approvals and is expected to close in the first quarter, they said in a statement, without disclosing the value. UOG is controlled by shipping industry veterans Peter Georgiopoulos and Leonidas Vrondissi. The sale of UACC, whose shareholders include the sovereign wealth funds of Saudi Arabia and Qatar, was held up in 2017 after a bitter diplomatic rift broke between the Gulf Arab states, ...

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Yxney Maritime Signs Up As New Inmarsat Fleet Data Application Provider

Norwegian-based scale-up Yxney Maritime and Inmarsat, the world leader in global, mobile satellite communications, have signed an agreement for Yxney Maritime to join the fast-growing group of certified application providers to provide a dedicated application for Inmarsat’s Fleet Data service. Fleet Data collects data from onboard sensors, pre-processes that data, and uploads it to a central cloud-based database, equipped with a dashboard and an Application Process Interface (API). Yxney Maritime has developed the Maress software, a solution for data-driven decarbonisation that allows fuel and emission data to be used for ...

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Ocean Spectra Estimation Using Ship Responses In Waves

The complexity of the ocean environment is challenging for safe voyages and marine operations. An important consideration is thereby given to the sea states at the planning and operating stages for an offshore project. The wave spectra can be measured and detected by several measurement instruments. Instead of using expensive onsite wave buoys, onboard wave radars, or hours-delayed satellites, recent research from a research group in Norwegian University of Science and Technology (NTNU) undertakes real-time directional wave spectrum based on vessel responses. Because a vessel is asymmetric, the cross spectra ...

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Korean Shipbuilders Account for 43% of Global Orders in 2020

Korean shipbuilders accounted for 42.6 percent of the global shipbuilding orders in 2020, retaining the No. 1 status in the global market for three consecutive years. China closely trailed Korea with a 3.3 percent gap. The Korean Ministry of Trade, Industry and Energy announced on Dec. 5 that Korea has taken 8.19 million CGTs of the global order placement total of 19.24 million CGTs in 2020. China hit 7.93 million CGTs. Until the first half of 2020, China logged 4.08 million CGTs, three times higher than Korea’s 1.35 million CGTs. ...

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ICTSI: New service at Mindanao Container Terminal links Southern Philippines to Asia, Middle East

Mindanao Container Terminal (MCT) welcomes the new year strong with the launch of Regional Container Line’s (RCL) South Philippines 6 (RSP6) service that connects the Philippines’ Visayas and Mindanao regions to Asia and the Middle East via Singapore. Launched in the Philippines through RCL’s Southern Philippine agent Eagle Express Lines, the fixed-day weekly service made its first port call to MCT on December 19 with the 628-TEU MV Pira Bhum. The service is operated by two vessels and covers the Singapore – Cebu – Cagayan – Singapore route. The vessels ...

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