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Baltic Dry Index falls to 1356, down 1 point

Today, Tuesday, September 18 2018, the Baltic Dry Index decreased by 1 point, reaching 1356 points.

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Dry Bulk FFA: Capesize Market Finds Support

Capesize Commentary The Singapore F1 grand prix weekend did nothing to fire up the Cape FFA market which came under pressure in early trading. We did however find support after a relatively uneventful index and drifted sideways until a late sell off on the prompt. Q4 found some support at 23k and failed to break that support level despite trading there while the deferred saw very little selling interest throughout the day. Panamax Commentary A quiet start to the week with range bound activity. The morning saw sellers return, influenced ...

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Capacity management paying dividends

Asia to West Africa spot rates are inflating as a consequence of tighter capacity in a growing market. Southbound container shipments from Asia to West Africa in the first seven months of 2018 posted a similarly fast pace of growth as seen last year, driven in large part by a reinvigoration of key economies such as Nigeria and Angola that are benefiting from rising oil revenues. Headhaul Asia-West Africa container demand after seven months had risen by 6.1% to approximately 750,000 teu, according to data from Container Trade Statistics. For ...

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Maersk Says Customers to Pay for $2 Billion-a-Year Fuel Hike

The cost of delivering world trade is about to go up. A.P. Moller-Maersk A/S, the world’s largest container shipping line, said Monday that customers using its giant box ships will have to pay separately for fuel from 2020, when prices are expected to surge because of tougher environmental standards. The regulations are designed to cut down emissions of sulfur, a pollutant blamed for human health conditions such as asthma. To get customers ready for the fuel upgrade, the Copenhagen-based company will from next year start to break out the fuel ...

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GMS Week 37 – CURIOUS SPECULATION!

Some extraordinarily speculative sales were registered this week as a few Cash Buyers (ones rumored to have fresh access to funding)

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Rhine levels to fall to lowest in 21 months Friday: WSV

Shipping on the Rhine river has been hampered for several weeks by low water levels which are now set to fall to 53 centimeters at key chokepoint Kaub Friday, the lowest since January 2017, Rhine river authority WSV forecast Monday. On Monday midday local time 75 cm were recorded. Levels haven’t been above 118 cm since the start of August resulting in additional transport costs. Premium payments typically apply from 140 cm and below at Kaub, operators said earlier. Reduced barge loadings not only result in higher transport premiums, raising ...

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Research team works towards safer and more cost-effective crewing

At this year’s World Maritime Day on 27 September, the International Maritime Organization will celebrate its 70th birthday by addressing challenges in maritime transport in order to work towards continued growth in the industry. One of these challenges is crewing, which affects not only the cost of transport – accounting for about 50% of the operational expenses onboard – but more importantly the safety and welfare of seafarers themselves. To address this, Solent University senior research fellow Dr Kate Pike is leading a team to find out the best manning ...

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GTT and Keppel Offshore & Marine sign a license agreement for the construction of membrane tank solutions

GTT has signed a Technical Assistance and License Agreement (TALA) with Keppel Offshore & Marine (Keppel O&M) enabling Keppel O&M to market liquefied natural gas solutions leveraging GTT’s membrane containment systems. Keppel O&M’s network of global yards will be licensed as outfitter to offer GTT’s LNG systems for the equipment and maintenance of LNG carriers, LNG Bunker vessels, LNG-fuelled vessels, as well as floating storage and regasification units (FSRUs), with a particular focus on vessels with capacities between 30,000 and 80,000 m3. GTT membrane systems have become the chosen technologies ...

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India: Govt further eases cabotage rules for fertiliser cargo on foreign ships

The government has further eased the conditions for foreign flagged ships to carry fertiliser cargo along the coast by modifying the cabotage relaxation announced in June. According to the amendments issued on September 10, the minimum movement of fertiliser to the extent of 50 per cent of the total cargo onboard a (foreign-flagged) ship is applicable only for cargo loaded at any lndian port for coastal movement, that is, at least 50 per cent of the total coastal cargo on board should be fertilizer and rest of the coastal cargo ...

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Germany’s Uniper says in talks on Wilhelmshaven LNG terminal

German utility Uniper is ready to import liquefied natural gas (LNG) into the country and distribute it should a terminal be built at Wilhelmshaven, close to its storage facilities, board member Keith Martin told Reuters in an interview. Martin said the company is in talks with a number of parties including those from the United States and that more concrete news should be announced before the end of the year. Such plans put Uniper in competition with RWE which said earlier this month it had secured capacity to import LNG ...

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Russia’s oil export duty seen rising to $137.5/T in October

Russia’s oil export duty CL-EXPDTY-RU is expected to rise to $137.5 per tonne in October from $130.0 a tonne in September, data from the finance ministry showed on Monday. The level of the duty is calculated by the finance ministry and is based on the monitoring of seaborne Urals URL-E URL-NWE-E crude oil prices from Aug. 15 to Sept. 14. Export duty per tonne, in U.S. dollars: October September RICs Average price for 74.46 71.05 URL-NWE-E calculation (barrel) URL-E Average price (tonne) 543.5 518.7 URL-NWE-E URL-E Crude oil 137.5 130.0 ...

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S.Korea’s August coal imports down 3.0 pct y/y

South Korea’s coal imports fell 3.0 percent to 11.0 million tonnes in August compared with a year earlier, according to customs data released on Saturday. Total coal imports are composed of steam coal for power generation and coking coal for steel production. Details of total imports in August are as follows: (in tonnes/ in $/T) August 2018 August 2017 Australia 3,289,112/ $123.07 4,061,577/ $103.87 Indonesia 2,807,490/ $ 71.97 2,783,174/ $ 60.75 Russia 2,755,723/ $107.53 2,355,650/ $ 81.80 Canada 961,188/ $151.90 741,723/ $108.41 South Africa 581,795/ $100.13 488,123/ $ 83.65 Colombia ...

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As Trump Touts Steel Revival, Investors Still Await Payoff

A lot of investors seem to have lost the memo on the revival of the American steel industry. U.S. President Donald Trump took to Twitter to boast about new plants amid robust demand. While he’s right that the industry is thriving, it’s also worth noting that gains in steel stocks since the U.S. announced import tariffs on the metal have trailed the broader market. Our Steel Industry is the talk of the World. It has been given new life, and is thriving. Billions of Dollars is being spent on new ...

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U.S. willing to exempt Indian steel, aluminium exports from high tariff with riders – ET NOW TV channel

The United States is willing to grant a conditional waiver to Indian steel and aluminium products from higher import tariff, television channel ET NOW said on Tuesday citing sources. India has written to the U.S. government seeking exemption from the 25 percent levy on steel and 10 percent on aluminium as exports of the two products from India did not pose a security threat to America, Reuters reported in March. In response to Washington’s refusal to exempt it from its new steel and aluminium tariffs, New Delhi decided in June ...

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Oil prices fall as U.S.-China trade war clouds demand outlook

Oil markets slipped on Tuesday as the latest escalation in the Sino-U.S. trade war clouded the outlook for crude demand from the two countries, the world’s top crude consumers. Brent crude futures had dropped 29 cents, or 0.37 percent, to $77.76 per barrel by 0632 GMT. U.S. West Texas Intermediate (WTI) crude was down 15 cents, or 0.22 percent, at $68.76 per barrel. U.S. President Donald Trump on Monday said he would impose 10 percent tariffs on about $200 billion worth of Chinese imports. “The growing trade dispute has hurt ...

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