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China starts review of anti-dumping measures on U.S. distillers grains

China’s Ministry of Commerce confirmed it is starting a review on Monday of its anti-dumping tariffs on imports of distillers grains (DDGS) from the United States and said the investigation should be completed in a year. The review comes amid trade talks between Beijing and Washington aimed at ending a months-long tit-for-tat tariff row that has roiled global markets. Beijing has pledged during these talks to increase its imports of U.S. farm goods. The commerce ministry “will review whether it is necessary to continue to impose anti-dumping and anti-subsidy measures ...

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Oil bullishness is at 2019 high as rally shows signs of sticking

Oil optimists pushed bullish wagers to a six-month high as the rally in prices continued. Money managers raised optimistic wagers on Brent crude for a fifth straight week while closing out pessimistic bets by the most since January as turmoil in major oil-producing nations heightened supply concerns. Short-selling bets on the global benchmark plunged by 18 percent, according to data released Friday. Hedge fund positioning on US crude told a similar tale, with contracts calling for a decline in West Texas Intermediate falling off by 17 percent. “There’s not many ...

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Greece’s Energean discovers natural gas reserve offshore Israel

Greek energy firm Energean has made a vast discovery of 28-42 billion cubic meters of natural gas at the North Karish field off Israel’s northwest coast, the company said on Monday. The discovery is located not far from the company’s floating production storage and offloading (FPSO) unit, which aims for a total export capacity of 8 billion cubic meters per year. Energean has already presold some of the gas to independent Israeli power producer I.P.M. Beer Tuvia in an agreement set to last 19 years and earn Energean $900 million. ...

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EU to help integrate Ukraine in the bloc’s gas market – official

The European Commission will work to ensure the integration of Ukraine in EU markets and support competition in eastern European countries as a means to minimise the impact of the NordStream 2 and TurkStream projects, an EU official told ICIS. Klaus-Dieter Borchardt, the deputy director general of the European Commission’s directorate-general for energy, said in an interview that Ukraine could be integrated in the European gas market through at least one of the four high-pressure pipelines which travel from the Ukrainian border to the Austrian Baumgarten hub via Slovakia. Currently ...

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India’s March exports pick up, help contain trade deficit

India’s goods exports picked up in March, boosted by the weaker rupee despite a slowdown in global trade growth, helping the country to contain its trade deficit despite a surge in oil imports. Merchandise exports rose 11.02 percent to $32.55 billion in March from a year earlier, while imports were up 1.44 percent to $43.44 billion during the same period, a statement by the trade ministry said on Monday. Oil imports, the biggest item in the import bill, rose 5.55 percent to $11.75 billion, driven by a rise in Indian ...

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China’s economic growth cools to 6.3%: AFP poll

China’s economy cooled further in the first quarter, according to an AFP survey of analysts, as Beijing resorted to tried-and-tested measures to combat tepid global demand and a bruising US trade war. The world’s second largest economy expanded by 6.3 per cent in the January to March period, the poll of 13 economists found ahead of the official release of gross domestic product figures on Wednesday. It would mark the slowest pace of quarterly growth for almost three decades. The figure remains within the range targeted by the government of ...

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ADB chief sees Asian econ growth as ‘solid’ despite trade war

The head of the Asian Development Bank (ADB) said on Monday that regional economies in Asia were sustaining solid growth led by domestic demand and the services sector despite some negative effects of the Sino-U.S. trade war. Trade friction between the world’s two largest economies is impeding growth in China, ADB President Takehiko Nakao told reporters in a group interview. “It’s natural for the Chinese economy to slow,” said Nakao, a former Japanese vice finance minister for international affairs. Source: Reuters (Reporting by Tetsushi Kajimoto; Editing by Chang-Ran Kim)

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China data expected to show signs of economic stabilisation

While data due Wednesday is set to show the world’s number two economy slowed in the first quarter to an annual pace of 6.3 per cent, monthly readings of retail sales, investment and industrial output will be scrutinised for signs of renewed health. Analysts from banks including HSBC Holdings and Goldman Sachs are among those expressing increasing confidence in the Chinese outlook. Corporate tax cuts, an upswing in manufacturing and expected progress on a US trade deal are among the factors buoying optimism. “China’s GDP data will show the economy ...

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HOT PORT NEWS from GAC

Repair works at Sentosa Island coast Monday, April 15, 2019, Singapore

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CLARKSON PLATOU HELLAS S&P WEEKLY BULLETIN

NEW BUILDING: In dry, Taiwan Navigation confirmed orders for two 80,000dwt bulk carriers at Oshima with delivery understood to be in

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Baltic Dry Index climbs to 738, up 12 points

Today, Monday, April 15 2019, the Baltic Dry Index climbed by 12 points, reaching 738 points.

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Breakdown of weekly ship sales by type 8th – 14th April 2019

In the following table you will find the total ship sales for last week.

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Best Oasis Weekly Recycling Market Report, Week 15 2019

Current week witnessed an influx of Green Recycling at Class NK yards only, Hence Alang. We Anticipate that this trend will grow and more

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SSY ATLANTIC CAPESIZE INDEX 15 April 2019

Supported by improved trans-Atlantic coal and iron ore spot rates, the SSY Atlantic Capesize Index edged higher week-on-week to 5,122 points. Nevertheless, it remains low by historical standards. The round

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SSY PACIFIC CAPESIZE INDEX 15 April 2019

The SSY Pacific Capesize Index rose by 181 points week-on-week to 3,162 points as iron ore spot chartering picked up after recent cyclone-related disruption. The Dampier-Qingdao iron ore spot rate rose by

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