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US-China trade talks: Has Beijing been playing an ancient game?

Even the most casual student of the history of China’s relations with the West will know something about the famous failed embassy of George Macartney to the Qianlong Emperor in 1793. Reading the king of England’s haughty letter to the Chinese emperor alongside the emperor’s equally haughty reply remains an excellent object lesson in nonconversation. George III asked for the right for English merchants to live and work in China and to have access to Chinese markets. He sent presents. Qianlong replied with even more magnificent gifts but refused the ...

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China’s GDP growth last year was worth more than Australia’s whole economy

China’s added gross domestic product last year exceeded the value of Australia’s total output, the country’s statistics agency said as it sought to highlight the country’s economic resilience. In 2018, China’s economic growth rate slowed to the lowest level in 28 years – a fact that has fanned concerns about the country’s economic outlook. In response Beijing is trying to direct attention to the absolute value of its growth and highlight the country’s ongoing role as the engine of the world economy. Last year’s growth figure was still a healthy ...

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OPTIMA Shipbrokers LTD Sale & Purchase Activity Week 9, 2019

OPTIMA Shipbrokers LTD Sale & Purchase Activity Week 9, 2019

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Potential Threat to Product Tanker Market from Mexico’s Refining Plans

While the IMO 2020 regulations bode well for the product tanker market, other factors can come into play, which can have a negative impact. In its latest weekly report, shipbroker Gibson said that “the US product export market has been transformed over the past decade. Exports of clean petroleum products (CPP) averaged 2.5 million b/d last year, up from just 0.8 million b/d in 2008. Rising trade has been underpinned by rapid growth in US crude production and refiners’ access to cheaper crude feedstock. Refining margins in the US Gulf ...

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A Tricky Start? Putting The Seasonal Slide In Context

The first quarter of the year is often a seasonally weak period for the shipping markets, and 2019 so far has proved no exception. Although the ClarkSea Index has risen by 13% y-o-y so far this year, it still fell by over 30% from multi-year highs in late 2018 to below $10,000/day by mid-February. Against a backdrop of building demand risks, how severe has this year’s seasonal slide been in a historical context? ’Tis The Season? Back in Q4, the ClarkSea Index, our weekly indicator of earnings in the main ...

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Scrap book 2018: a record breaking year

2018 was a dynamic year for ship recycling, with many vessel types removed at record levels, while others slowed to essential deletions only. 2018 was not a record year overall in terms of material re-used, however Bulkers, Containers and Small Dry vessels all recorded their lowest ever scrapping levels since 2012 by number of vessels. Meanwhile, OSVs, MODUs, and tankers all recorded the highest levels of scrapping over the same time period. There were only 656 vessels removed from the water compared to 755 in 2017 and 811 in 2016. ...

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Sulfur, ballast water norms to boost tanker freight rates

Global VLCC freight rates are expected to be well supported this year and in the next as a large number of them will go for maintenance, and also install a ballast water treatment system at a time when there is also more demand to move crude across continents, a senior industry analyst said. In the run-up to the implementation of new norms on sulfur emissions from marine fuels, refineries are ramping up and reconfiguring their capacities to cater to the likely strong demand for LSFO and Marine Gas Oil, Ralph ...

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probunkers Invites Proposals For Building 7 LNG Bunkering Vessels

probunkers, the new and fast growing company that brings the future of bunkering today, is taking one more step towards the implementation of its ambitious LNG Bunkering project by inviting stakeholders’ proposals for the design of the company’s LNG Bunkering Vessels (LNGBVs). As the expansion of LNG as a marine fuel is rapid into shipping, probunkers is turning into a world-class investment opportunity, by building a reliable global-scale LNG bunkering network. According to the project, probunkers will design, build and operate a fleet of modern, eco-friendly LNG bunkering vessels to brace ...

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Alliances to drive Singapore bunker market efficiency as IMO 2020 looms

The Singapore bunker market is likely to see a spurt in alliances between bunker traders, barge operators and physical suppliers, as the supply chain infrastructure gears up to deliver different marine fuels and blends with varying specifications to comply with the International Maritime Organization’s global sulfur limit rule for marine fuels. The IMO will cap global sulfur content in marine fuels at 0.5% starting January 1, 2020, compared with 3.5% currently. This applies outside the designated emission control areas where the limit is already 0.1%. More partnerships are expected to ...

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Allied’s Weekly Market Report – Week 09 2019

The ship recycling market constitutes a crucial leaver in alleviating any excess pressure that may arise in the demand/supply balance of

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Ports in North Europe Feel the Impact from the Trade War

Preliminary figures indicate that total container volumes across the six-port range decreased by 77,000 TEUs (or 2.1 per cent) in December compared to November with 3.60 million TEUs, which would equate to a 1.8 per cent year-on-year gain. For incoming volumes, preliminary December data indicates that every port except Zeebrugge experienced a decrease in volume from November, with all changes in the single-digit percentage range. In terms of year-on-year growth, every port except Hamburg and Bremen/Bremerhaven is anticipated to have posted an increase, with a double-digit percentage increase at Zeebrugge. ...

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Political Volatility Bodes Ill for Trade

European political volatility is in a particularly precarious state now and it is impacting consumer confidence which in turn has had repercussions in demand. The period from July to November 2018 saw a drop in European import volumes of eight per cent. Traditional European political parties are under pressure as a result of the mess that is Brexit and right-wing populism in many of the continental countries. We may be witnessing a realignment in politics that will have a profound effect on the post-World War II stability. Over the past ...

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Double digit fuel savings from GreenSteam

GreenSteam, the leading supplier of Machine Learning based vessel performance solutions announces significant progress towards its stated objective of enabling its clients to achieve doubledigit fuel savings as substantial MARPOL driven fuel price rises, loom large, for the Shipping Industry. Currently, working with over 30 shipping owners, operators and marine organisations across all shipping sectors, globally, GreenSteam’s services are allowing these clients and partners to implement measurable fuel and operational cost savings. These have been identified through, rapid, fleet efficiency audits, using the unique Machine learning based Discover solution and ...

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Queue at Australia’s PWCS coal terminals falls on week to 13 vessels

Port Waratah Coal Services’ two terminals at Newcastle port in the eastern Australian state of New South Wales had 13 ships waiting offshore on Sunday, down from 17 ships a week earlier, the Hunter Valley Coal Chain Coordinator said in its weekly report Monday. The queue was expected to comprise less than five ships at the end of March, HVCCC said. A total of 2.2 million mt of coal was shipped out of the PWCS terminals in the week to Sunday, up 111,000 mt from the week before. Month-to-date exports ...

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Positive development for Hempel in 2018: Industrial transformation to continue unabated in 2019

Key messages: – Hempel continues its industrial transformation in 2018 and delivers robust performance with growth and continued strong profitability – Hempel takes a leading role in the consolidation of the global coatings industry with the acquisition of J.W. Ostendorf – Negative organic growth of 1.4% considered satisfactory when taking into account the challenging global market conditions – Hempel has released EUR 166 million in net working capital improvements since beginning of 2016, giving it the resources to acquire other businesses in the next few years – Hempel has agreed ...

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