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Dachser is significantly expanding its emission-free delivery of non-chilled groupage shipments to defined downtown areas. By the end of 2025, the logistics provider plans to launch DACHSER Emission-Free Delivery in twelve more European cities: Amsterdam, Barcelona, Dublin, Hamburg, Cologne, London, Malaga, Rotterdam, Stockholm, Toulouse, Warsaw, and Vienna. In addition, the company will expand its existing zero-emission delivery area in Paris. “We deliberately set ourselves the ambitious goal of doubling the number of cities served by DACHSER Emission-Free Delivery by the end of 2025,” says Alexander Tonn, COO Road Logistics at ...

Morgan Stanley raised U.S. economic growth forecast for the year on a strong industrial sector and more public investment in infrastructure, and expects a “comfortable” soft-landing for the economy. Economists at Morgan Stanley now expect U.S. real gross domestic product (GDP) to grow 1.3% on average in 2023, from an earlier forecast of a 0.6% rise. “Incoming data now point to a more comfortable soft landing than we had anticipated, led by public investment in infrastructure and nonresidential structures investment,” Morgan Stanley economist Ellen Zentner wrote in a note dated ...

The soft wheat harvest ran slightly ahead of average by July 17 and winter barley cuttings were virtually complete, with grain crop conditions unchanged from the previous week, farm office FranceAgriMer said on Friday. The office said in a crop report that French farmers had harvested 58% of the soft wheat crop by Monday, up from 33% a week earlier and an average of 53% but well behind last year’s fast pace of 79%. The winter barley harvest was 99% complete, compared to an average of the last five years ...

A well-known maritime lawyer is using music to raise vital funds and awareness for Ukraine by releasing a haunting song and heart-rending video highlighting the impact of the war from a child’s perspective. Julian Clark, Vice President and Senior Legal Adviser of Gard (UK) Limited, was inspired to write the song, titled Putin’s War, after hosting two Ukrainian refugee families in his UK home. (He is still in close touch with them). Now Julian is releasing the song and video for downloading as part of his new fund-raising campaign entitled ...

Greece’s current account deficit shrank in May compared with the same month last year, thanks to rising tourism receipts, the Bank of Greece said on Friday. Central bank data showed the current account deficit was 1.65 billion euros ($1.84 billion), down from a deficit of 2.08 billion euros in May 2022. Stripping out fuel, exports dropped by 1.9% at constant prices, while imports dropped by 4%, the data showed. Tourism revenue rose to 1.75 billion euros from 1.4 billion euros in May last year, when the country had just recovered ...

Russia’s central bank hiked its key interest rate by a greater-than-expected 100 basis points to 8.5% on Friday, raising the cost of borrowing as the weak rouble added to inflation pressure from a tight labour market and strong consumer demand. It was the first time the bank had raised rates in more than a year, having gradually reversed an emergency hike to 20% made in February last year after Russia sent its armed forces into Ukraine, which prompted the West to impose sanctions on Moscow. Its last cut, to 7.5%, ...

The U.S. commercial property market has faced severe challenges since the pandemic due to lingering office vacancies, diminished retail activity and higher interest rates. That stress has caused banks and other lenders to tighten their standards for new loans and scrutinize existing ones. While regional banks carry the greatest exposure to the commercial real estate (CRE) sector, second quarter earnings show that a number of big banks have prepared for potential defaults, primarily on office loans. Here are the highlights across the sector: BANK OF AMERICA CORP Chief Financial Officer ...

Known for its rich oil and gas reserves, Algeria has set its sights on becoming a major player in the global shale gas industry. With the third-largest shale gas reserves worldwide, Algeria is committed to attracting investments and fostering a favorable business environment for international players. Through its strategic regulatory policies and through platforms such as African Energy Week (AEW) – taking place October 16-20 in Cape Town ­– the country aims to connect new investors to its burgeoning shale gas market. Algeria’s untapped shale gas reserves are estimated at ...

India’s JSW Steel Ltd JSTL.NS reported a first-quarter profit on Friday that nearly tripled, helped by higher sales on the back of a pickup in infrastructure activity. Consolidated net profit climbed to 24.28 billion Indian rupees ($296 million) in the quarter ended June 30 from 8.39 billion rupees a year earlier, when the results were impacted by a tax on steel exports. While overall steel sales jumped 27% from a year ago, JSW Steel said it also reported increased price realisations due to higher export prices. Investment activity is picking ...

Oil prices rose more than a dollar per barrel on Friday, buoyed by growing evidence of supply shortages in the coming months and rising tensions between Russia and Ukraine that could further hit supplies. Brent crude futures rose $1.24, or 1.6%, to $80.88 a barrel by 1:08 p.m. EDT (1708 GMT). U.S. West Texas Intermediate crude futures rose $1.28, or 1.7%, to $76.93 a barrel. “The oil market is starting to slowly price in a looming supply crunch as it is on track for its fourth week of price gains,” ...

Capital Gas Ship Management Corp. announces the order of the two first-ever state-of-the-art 22,000-cbm liquid CO2 (LCO2) carriers at Hyundai Mipo Dockyard, S.Korea to be delivered in 2025-2026. The order of two state-of-the-art, largest CO2 carriers ever contracted constitutes not only a historical milestone for the Capital Group (‘Capital), but for the industry as a whole. It also underscores the company’s commitment to playing a leading role in the global decarbonization efforts, as actions always speak louder than words. The company expects the maritime transportation of CO2 to become a ...

The Ministry of Defense of Ukraine declared that since 00:00 21 July 2023, Kyiv Time, all vessels in the Black sea waters that head to the ports of the russian federation or to temporarily occupied ports of Ukraine, may be considered for risk assessment as vessels carrying a military cargo. Moreover, navigation in the North-East Black Sea region and the Kerch-Yenikal strait hasbeen declared dangerous and prohibited as of the 20th of July 2023 05:00 Kyiv Time. Relevant information has been published to the attention of navigators. We monitor the ...

Russian Deputy Foreign Minister Sergei Vershinin said on Friday that Moscow was ready to explore options on grain exports, but that there were no current talks on an alternative to the Black Sea grain deal. The deal, brokered by the United Nations and Turkey last July, aimed to help prevent a global food crisis by allowing grain blocked by the conflict in Ukraine to be safely exported from Black Sea ports. Russia announced it was withdrawing from the deal on Monday. Source: Reuters (Reporting by Reuters; Writing by Caleb Davis; ...

New building in tankers this week, it was reported that CSSC Dalian contracted two firm 320k dwt VLCC’s with clients of Dynacom Tankers

Russia is working on new grain export routes, Deputy Foreign Minister Sergei Vershinin said on Friday after Moscow pulled out of the Black Sea grain export deal earlier this week. The deal, brokered by the United Nations and Turkey, aimed to help prevent a global food crisis by allowing grain blocked by the war in Ukraine to be safely exported from Black Sea ports. Source: Reuters (Reporting by Reuters, Editing by Andrew Osborn)