Hellenic Shipping News Worldwide Hellenic Shipping News Worldwide, Online Daily Newspaper on Hellenic and International Shipping

The dollar hovered near two-week lows after U.S. bond yields eased from recent highs, while market participants waited for the Federal Reserve’s meeting minutes due later in the session to help determine the future path for the dollar. The previous quarter saw a spike in U.S. Treasury yields and the dollar’s strongest rally in years, on rising expectations that accelerating U.S. economic growth and inflation could force the Fed to abandon its pledge to keep interest rates near zero until 2024. The International Monetary Fund said on Tuesday that unprecedented ...

China is expected to maintain a neutral monetary policy in the second quarter, as stronger investment will lead to a solid economic recovery, while there should be additional risk-control efforts, economists said. With consumption continuing to recover and exports remaining strong, the world’s second-largest economy is expected to maintain robust GDP growth in the second quarter. Investment in the manufacturing industry may rebound, following a recovery of industrial profit growth, they said. A senior official from the central bank, the People’s Bank of China, stressed last week the importance of ...

World Bank President David Malpass said on Monday he expects China, the United States and other Group of 20 major economies to extend a freeze in bilateral debt service payments through the end of 2021 when they meet this week. The G20 Debt Service Suspension Initiative (DSSI) has already helped countries defer some $5.7 billion in payments through the end of 2020, with another $7.3 billion in deferred payments expected through June, according to World Bank data. Extending the debt payment freeze through year-end would save even more money that ...

Most economists are well aware of the influence of demographics on long-term economic patterns. Unfortunately, in this “what have you done for me lately” world with the focus on the next second, day, month or quarter, changes in demographics may seem to come at a snail’s pace and often get lost, ignored or forgotten. Well, be wary. The 2020s and 2030s portend major changes in economic activity due to demographic influences. China will be the poster child. An Aging Population The Chinese population is aging rapidly, a fact once accelerated ...

NASDAQ-Adv: 2,054 Dec: 2,121 NYSE-Adv: 2,519 Dec: 1,641(Source: Nasdaq)

Strong economic data from China and the United States helped lift oil prices by more than 1% on Tuesday, recouping some of the previous session’s losses. Brent gained 83 cents, or 1.3%, to $62.98 a barrel by 1:19 p.m. EDT (1719 GMT). U.S. West Texas Intermediate (WTI) crude rose 91 cents, or 1.6%, to $59.56 a barrel. Prices were buoyed as March data showed U.S. services activity touched a record high. China’s service sector has also gathered steam with the sharpest increase in sales in three months. In addition, England ...

Tanker: Tanker values have remained stable.

Towering cranes work overtime swinging containers from cargo vessels in the eastern Chinese port of Lianyungang, racing to keep ahead of a perfect storm unleashed by the pandemic that has created gridlock in global shipping. As the huge containers were flung onto trucks with a thunderous clang, Shi Jiangang, a top official with Chinese shipping company Bondex Logistics, reflected on the backlog. “It has been a very great challenge,” he said. The ship being offloaded was a South Korean vessel that normally also carries passengers but has been given over ...

In view of the recent public debate around container shipping in the Arctic, MSC Mediterranean Shipping Company has doubled down on its position to avoid considering the Northern Sea Route, including the Northeast and Northwest Passages on environmental grounds. An expansion of Arctic shipping could increase the emissions of so-called black carbon – physical particles of unburned carbon which can settle on land or ice, as well as compromising air quality and accelerating the shrinkage of Arctic sea ice. Risks such as navigation incidents, fuel spills, air quality and altering ...

In the past few weeks, if you asked, “Who is the most hated person in the world at the moment?,” the captain of the ship blocking the Suez Canal would be near the top of the list. As a vital channel linking the manufacturers and suppliers of Asia to the major consumer markets in Europe, the International Chamber of Shipping estimates that $3 billion worth of cargo passes through the Suez Canal every day. So, when Taiwan operated 224,000-ton mega tanker, the Ever Given, one of the world’s largest container ...

Castor Maritime Inc. (the “Company”) (NASDAQ: CTRM) announces today that it has entered into a securities purchase agreement with certain unaffiliated institutional investors to issue approximately 192.3 million of its common shares and warrants to purchase up to an aggregate of 192.3 million common shares at a purchase price of $0.65 per common share and accompanying warrant in a registered direct offering (the “Offering”). The warrants will have an exercise price of $0.65 per share, are exercisable immediately and will expire five years following the date of issuance. Maxim Group ...

We revise up our 12m TP to KRW6,500 (12m fwd BVPS x 1.06x target P/B) for SHI to reflect changes in: (1) sustainable ROE, (2) the 12m fwd base period, (3) total shareholders’ equity resulting from revised earnings forecasts and (4) terminal growth rate as well as risk-free rate resulting from change in market rate assumptions. The last closing price (Apr 1) sits above our new TP, thus we maintain HOLD. Bull-case scenario applied to reflect rise in international oil price and solid new order wins As our bull-case scenario—international ...

“Let’s modal shift together!” Under this slogan, Port of Antwerp, Railport and Infrabel are presenting their vision for doubling the proportion of goods transported by rail via the port by 2030. This modal shift is needed because more goods by rail is good for the climate, the economy and mobility. Infrabel is also using this rail vision for the port of Antwerp as a stepping stone to an approach for freight traffic throughout Belgium. This plan will be further developed by Infrabel along with the umbrella organisation for railway freight ...

China-Europe freight trains increased their transportation of commodities from East China’s Zhejiang province in the first quarter of 2021, authorities said on April 3. In the first three months, 513 trains transported 42,874 twenty-foot equivalent units of cargo from Zhejiang’s Yiwu and Jinhua, up 373.5 percent year-on-year, according to China Railway Shanghai Group Co Ltd. As the Belt and Road Initiative gains steam, the China-Europe train network has expanded in Zhejiang, with 28 routes connecting 59 countries and regions in Eurasia so far. Commodities include textile products, auto parts, daily ...

The container and cargo throughput via Hamad, Doha and Al Ruwais ports recorded strong growth momentum in the first quarter (Q1) of 2021, hinting at a rebound in Qatar, whose economy is expected to grow fastest at 5% for the whole of this year, according to the official figures. In what shows the momentum in the infrastructure sector, which includes real estate for which the government has accorded top priority in the budget; building materials handled through these ports more than doubled year-on-year in Q1, 2021, said the figures of ...