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China seeks to avoid fate of Japan in US trade war deal as heavyweight economists gather in Beijing

A group of heavyweight Chinese economists sat down with Japanese counterparts in Beijing on Tuesday to discuss whether China can avoid its own “lost decades”, as the government looks to negotiate a deal to end the US-China trade war. Japan engaged in a lengthy trade dispute with the United States in the 1980s, with a series of deals over currency and market access blamed in some quarters for the decades of economic stagnation that followed. It is known that many in Beijing are worried that a bad trade deal with ...

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Baltic Dry Index falls to 695, down 14 points

Today, Thursday, March 21 2019, the Baltic Dry Index decreased by 14 points, reaching 695 points.

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Tanker Market Rates 21/03/2019

Daily rates on main tanker routes as compiled by shipbroker Charles R. Weber.

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Dry Bulk Carriers in High Demand, As Ship Owners Expected Market Rebound

Ship owners are ramping up their acquisitions of dry bulk carriers, on the expectation that the recent slump in the freight rate market could soon be over. In its latest weekly report, shipbroker Banchero Costa said that “Scorpio Bulkers was very active last week with the one sale and leaseback deal and one strait sale deal. The first deal is for 3 x Ultramax and 4 x Kamsarmax to CMB Financial Leasing: the vessels are sold and chartered back to Scorpio for 7 years with purchase options from the third ...

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Putting yourself ahead of the pack with the carbon-robust ship

“We are in an energy transition,” says Øyvind Endresen, Environmental Consultant, at DNV GL’s Environment Advisory section. “Global regulations on emissions to air as well as the rapid rise and faster cycling of new fuels and technologies are poised to change the fleet of the future.” These changes are exposing the shipping industry to more risk than it has seen in many years and at a more fundamental level. When a vessel was planned 50 or even 20 years ago, the choices were much simpler. Size and cargo types varied, ...

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ICS Updates Flag State Performance Table

The International Chamber of Shipping (ICS) has published the latest update of its Flag State Performance Table, which can be downloaded free of charge via the ICS website. The annual update, which is also supported by the Asian Shipowners’ Association (ASA) and the European Community Shipowners’ Associations (ECSA), provides an indication of the performance of individual flag administrations, using information available in the public domain. Since the Table was launched 15 years ago, ICS says it has been pleased by the ongoing improvement which the data has helped to demonstrate. ...

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IMO 2020 may not solve crude oil quality riddle

The global chasm in crude oil quality supply shows no signs of narrowing, prompting refiners to lighten their slate and leading to a market awash with gasoline , naphtha and LPG. New restrictions next year on the amount of sulfur in global marine fuels may mean refiners buy even more US shale oil , but this may not put an end to a saturated light ends market. Much hinges on demand. The meteoric rise in US production over the past decade — almost doubling to record highs of around 12 ...

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More Chinese ports delaying Australian thermal coal imports: sources

An increasing number of Chinese ports are holding up Australian coal shipments, with long delays now being reported at Fuzhou port in the southeastern Fujian province, Rizhao in Qingdao and Yingkou in Dalian, according to traders and end-users in China. The delays indicate that Chinese imports of Australian coal remain constrained, forcing Chinese buyers to increasingly withdraw from Australian thermal coal purchases in the market amid uncertainties. The price of FOB Newcastle 5,500 kcal/kg NAR with maximum 23% ash product had risen to a high of $63.50/mt in January but ...

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How Iran fuel oil exports beat U.S. sanctions in tanker odyssey to Asia

At least two tankers have ferried Iranian fuel oil to Asia in recent months despite U.S. sanctions against such shipments, according to a Reuters analysis of ship-tracking data and port information, as well as interviews with brokers and traders. The shipments were loaded onto tankers with documents showing the fuel oil was Iraqi. But three Iraqi oil industry sources and Prakash Vakkayil, a manager at United Arab Emirates (UAE) shipping services firm Yacht International Co, said the papers were forged. The people said they did not know who forged the ...

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Fearnleys Week 12 2019

With the March VLCC MEG program behind us the Owning community was looking forward to a sprout of activity for early April with ambition

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Greek benefits to come from Palau maritime partnership

The world’s fastest growing ship registry and the oldest shortsea shipping association in Europe have joined forces to support the growing number of Greek vessels operating in the short-sea maritime sector. Palau International Ship Registry (PISR) and the Hellenic Shortsea Shipowners Association (HSSA) both operate from Piraeus in Greece and recently signed an agreement to strengthen the close ties between them to support HSSA’s member vessels operating short-sea shipping services. This new agreement builds on the close relationship between the two maritime service providers and will offer HSSA members ship ...

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Nordic American Tankers Ltd Reiterates That Scrubbers Are not A Solution For IMO 2020 Compliance

Nordic American Tankers Ltd communicated its view on the new Sulphur requirements, effective from 2020 in our Press Release October 24, 2017 and in a NAT conference call held February 20, 2019. The Company is steadfast on its decision that scrubbers are not a solution for NAT based upon a conservative financial policy. NAT does not take on risk it does not have to. An increased number of ports now prohibit or impose strict requirements on the use of scrubbers, which purify emissions from large ships. The scrubber cleans the ...

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Third VLCC of the year departs Louisiana, bound for South Korea

Louisiana Offshore Oil Port continues to load on average one VLCC crude tanker per month for export and logged its third such export of the year late last week. The 2 million barrel-capacity VLCC Dilam loaded at LOOP and set sail for South Korea on Wednesday, according to cFlow, Platts trade flow software. Dilam marks the third VLCC export from LOOP so far this year. All of the LOOP-loaded tankers have been taken to South Korea. New Caesar departed LOOP on February 1 and was observed in South China Sea ...

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Høglund awarded fuel-gas supply systems contract for six Hurtigruten retrofits

Høglund, the leading global marine solutions and system integration expert, announced that it has been awarded a contract to deliver biogas-ready fuel-gas supply systems (FGSS) for six Hurtigruten passenger ship retrofits. Høglund will work together with HB Hunte Engineering to design and engineer fully customised tank and FGSS solutions for each of the six vessels, optimised to run on both liquified natural gas (LNG) and liquified biogas (LBG). Hurtigruten, a leader in the Arctic and Antarctic expedition cruise segment, will use Høglund and HB Hunte’s bespoke FGSS solutions in tandem ...

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NYK Introduces Its Market Analysis Initiatives Using AI and Big Data

On March 18 at a symposium cosponsored by the Japan Shipping Exchange Inc. and the Japan Society of Logistics and Shipping Economics, NYK introduced its new initiatives using AI and big data for analyses of the dry-bulk market. This symposium was held to encourage collaboration between the shipping industry and the academic sector during a time when there is a growing interest in the use of big data analyses. Focusing on the dry-bulk division, panelists from the shipping industry and academic sector discussed how they could work together to create ...

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