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Πρώτη σελιδα

IKEA Leads on Green Shipping, But More Action Needed for Zero-Emission Ships

Pacific Environment’s Ship It Zero coalition commends IKEA for continuing to prioritize maritime shipping decarbonization, as reflected in the company’s FY24 Climate and Sustainability reports released this week. As the leading retailer in green shipping, Pacific Environment encourages IKEA to push other retailers to move towards zero-emission ships and commit to truly green fuels. The following statement is from Jonathan Butler, Pacific Environment’s Climate Campaign Manager for Corporate and lead representative of the Ship It Zero campaign: “We appreciate IKEA’s commitment to moving the needle on maritime decarbonization, as shipping ...

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China’s retaliatory tariffs on crude likely to push US exports lower in 2025

China’s retaliatory tariffs on the United States may cause U.S. oil exports to decline in 2025 for the first time since the COVID-19 pandemic, after growth plateaued last year. Exports of U.S. crude have surged more than 10 times since it lifted a 40-year federal ban on the export of domestic oil in 2015. That has helped United States become the world’s third-largest exporter behind Saudi Arabia and Russia, blunting the global impact of production cuts by the Organization of the Petroleum Exporting Countries and its allies. While China’s appetite ...

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Facilitating free trade remains top of IUMI’s agenda

At a meeting of the International Union of Marine Insurance (IUMI) executive earlier this week, it was made clear that protectionist measures were not in the interests of the marine insurance community. In an inter-connected global economy, protectionism in the form of trade tariffs were said to run counter to IUMI’s values of securing free trade and maintaining and growing the global economy. IUMI Secretary General, Lars Lange said: “More trade equates to more vessels and cargoes to insure. Protectionist measures tend to restrict trade and impact on exposures and ...

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HD Hyundai boosts operating profit 47% in 2024 driven by shipbuilding and energy

HD Hyundai announced on the 6th that its operating profit for 2024 is estimated to be around 3 trillion won, an increase of nearly 50% compared to the previous year. This is due to increased profitability in the institutional sector of shipbuilding and offshore and continued strong performance in the electrical equipment sector. HD Hyundai stated that its revenue for 2024 is projected to be 67.7656 trillion won, a 10.5% increase compared to the previous year. During the same period, operating profit rose to 2.9832 trillion won, an increase of ...

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Windward Launches Critical Maritime Infrastructure Protection, an AI Solution to Detect and Counter Threats to the World’s Essential Infrastructure

Windward, the leading Maritime AI™ company, today announced the launch of its Critical Maritime Infrastructure Protection solution, a first-of-its-kind AI-powered solution designed to protect the world’s essential maritime infrastructure including cables, pipelines, and rigs against growing threats. Recent suspected attacks on undersea cables globally, as well as the sabotage of oil pipelines in recent years, have demonstrated the vulnerability of global energy and data networks and the vital need to secure them. The solution combines the Windward-mapped proprietary cable layer and integrated user data with its best-in-class AI-based behavioral pattern ...

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StormGeo Enhances G2 Ocean’s Fleet with Advanced Voyage Optimization Solution

StormGeo, a global leader in weather intelligence and voyage optimization solutions, is excited to announce the expansion of its partnership with G2 Ocean, as its voyage optimization solution will be deployed across the company’s fleet of 120 vessels. This new agreement builds on the success of a long-term collaboration between the two forward-thinking maritime companies, further solidifying G2 Ocean’s confidence in StormGeo’s ability to support their goals of operational efficiency and decarbonization. G2 Ocean has selected StormGeo’s Voyage Optimization solution, which empowers both shoreside and onboard teams to plan and ...

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DP World’s container handling hits record high in 2024, up 8.3%

DP World’s ports and terminals handled a record 88.3 million twenty-foot equivalent units (TEUs) in 2024, up 8.3% year-on-year despite macroeconomic headwinds and concerns over the outlook for global trade. The global logistics business, which now has the capacity to handle more than 100 million TEU across operations in 78 countries, benefitted from long-term infrastructure investment contributing to strong growth and new services calling at its terminals. While the Red Sea crisis posed a significant challenge to global shipping in 2024, causing delays and rerouting across major trade corridors, DP ...

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US grain, oilseed exports surge in 2024 without boost from China

Most global importers last year took advantage of plentiful and cheaper U.S. bulk agricultural commodities, including soybeans and corn, the top-ticket items. But China somewhat sat out on that rush. Milestones were notched among the top U.S. bulk grain destinations in 2024 as average export prices fell by more than one-fifth versus 2023. Lower prices meant this group of commodities pulled in 5% less revenue than a year earlier, but the quantity was up significantly according to U.S. Census Bureau data published on Wednesday. By volume, U.S. bulk agricultural exports ...

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Iron ore pares losses on Australia supply worries, softer US dollar

Iron ore futures clawed back higher on Thursday, supported by a softer dollar and Australia supply snags, while investors looked for fresh developments surrounding the trade war between the United States and top consumer China. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) TIO1! ended daytime trade 1.43% higher at 817.5 yuan ($112.22) a metric ton, after closing lower in the previous session. The benchmark March iron ore (SZZFH5) on the Singapore Exchange was 2.08% higher at $105.95 a ton at 0706 GMT. Australia is in ...

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Downside factors persist, no relief in sight for the steel market outlook in the short to medium term

The economic and geopolitical conditions that have affected the European steel market over the past two years show no signs of improvement and have further deepened their negative impact on the sector in 2024. Growing uncertainty continues to weigh also on 2025 and 2026, with the outlook hinging on unpredictable developments especially as regards international trade. According to EUROFER’s latest Economic and Steel Market Outlook, the recession in apparent steel consumption in 2024 will be steeper than previously projected (-2.3%, down from -1.8%) and the expected recovery in 2025 has ...

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Oil, gas traders to seek tariff waivers from Beijing for US imports, sources say

Oil and gas traders are likely to seek waivers from Beijing over tariffs that the Chinese government plans to impose on U.S. crude and liquefied natural gas (LNG) imports from February 10, trade sources said on Thursday. Shortly after tariffs on China imposed by U.S. President Donald Trump took effect on Tuesday, China’s Finance Ministry said it would impose levies of 15% on imports of U.S. coal and LNG and 10% for crude oil as well as on farm equipment and some autos, starting on February 10. Four tankers, carrying ...

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Iran calls for united OPEC response to US sanctions threats

Iranian President Masoud Pezeshkian Feb. 5 called for OPEC to coordinate a response to US threats to increase sanctions pressure on Iran, during a meeting with OPEC Secretary General Haitham al-Ghais. “I believe if the OPEC members act united and aligned, the US will not be able to impose sanctions and pressure on one member,” Pezeshkian said during the meeting, president.ir reported. US President Donald Trump Feb. 4 sent a memo to key cabinet members directing them to increase sanctions pressure on Iran and to drive its oil exports – ...

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Middle East Crude-Benchmarks slide; Saudi hikes March OSP for Asia

Middle East crude benchmark spot premiums for Oman, Dubai and Murban slid on Thursday amid light trade. Saudi Aramco, the world’s leading oil exporter, sharply increased crude prices for March shipments to buyers in Asia amid rising demand from China and India as U.S. sanctions disrupt Russian supply. Aramco raised the official selling price for flagship Arab Light crude by $2.40 to $3.90 per barrel above the Oman/Dubai benchmark average, Saudi Aramco said in a statement on Wednesday. The oil exporter steeply increased crude prices for March shipments across all ...

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Asia Distillates: Spot 10ppm diffs at 4-month low amid high prompt stocks

Asia’s middle distillates markets slipped, with diesel spot differentials maintaining at nearly four-month lows as downside pressures from higher inventories in Singapore and sufficient February supplies from northeast Asia weighed. Shaky demand in the near-term for February cargoes also bore down, amid talks that more South Korea origin barrels are bound for Singapore in the next two weeks. Inventories at key trading hub Singapore shot up to a seven-week high of more than 10 million barrels, as a result of these arrival cargoes. While the east-west price spread was slightly ...

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Global economy set for reasonable growth in 2025 according to ACCA, but uncertainty abounds

The second edition of ACCA’s annual economic outlook examines the prospects and major risks for the global economy and key countries. The report, 2025 Global Economic Outlook: A highly uncertain world, includes an exclusive interview with economist Charles Goodhart, highlights key events in 2025, examines three trends to watch closely, and interviews chief financial officers (CFOs) from across the globe. Distinguished economist Charles Goodhart reflects on the enormous uncertainty in the global economy currently. He suggests that the US economy may perform strongly in 2025, but that Europe and the ...

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