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New knowledge on battery safety can promote green solutions within the maritime industry

DMA has gained new knowledge on battery safety through a report with focus on risks related to fire. The report outlines different methods of fireextinguishing along with the effect of ventilation systems in battery compartments in case of fire. The Danish Maritime Authority has participated in a comprehensive project that has resulted in a report concerning safety in battery installations. The report supports the rapidly moving technological developments currently taking place in the maritime industry and it provides new and relevant knowledge on battery safety to the Danish Maritime Authority ...

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New Guidelines for the Carriage of Seed Cake in Containers published

New Guidelines for the Carriage of Seed Cake in Containers have been published jointly by the CINS (the Cargo Incident Notification System) and the International Group of P&I Clubs. The document is available to download from the CINS website – http://www.cinsnet.com/newsy/ “Seed Cake” is the term used for pulp, meals, cake, pellets, expellers and other similar cargo, where edible vegetable oils have been removed from oil-bearing seeds, cereals or commodities with similar properties . The practices set out in this document are intended to improve safety during the carriage of ...

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Refined palm oil cargoes stuck at Indian ports after import curbs – sources

Thousands of tonnes of refined palm oil are delayed or stuck at various Indian ports after the world’s biggest edible oil buyer placed restrictions on imports amid a diplomatic row with key supplier Malaysia, multiple sources told Reuters. India announced the curbs on imports of refined palm oil on Jan. 8 in a bid to help domestic refiners raise their plant utilisation rates, according to industry officials familiar with the matter. In a typical year India relies on imports for almost all of its supply of the vegoil used in ...

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FEPORT: Work on standardisation in progress within TIC 4.0

The Terminal Industry Committee (TIC 4.0), which gathers 20 members, representing many leading terminal operators, well-known port equipment manufacturers and solutions providers, has been formally registered in Brussels on the 19th of Nov 2019 and granted legal personality by Royal Decree on December 20th, 2019. TIC 4.0 members have gathered on January 16th, 2020 for a plenary meeting at PSA offices in Antwerp. The Executive Council of TIC 4.0 gathers 7 members who represent FEPORT, PEMA as well as major corporations. Mr Boris Wenzel, Managing Director of Terminal Link, is ...

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India’s thermal coal imports extend fall as economy slows

India’s thermal coal imports have dropped for three months running, their longest sustained fall in over two years, as an economic slowdown stifles demand from key industrial consumers. The slowing in imports reflects wider weakness in the Indian economy, projected to expand by just 5% in 2019/2020 fiscal year, the lowest pace in 11 years. “A demand downfall across sectors has had a downward cascading effect on everything including coal imports,” said Puneet Gupta, founder of online coal marketplace Coalshastra. Imports of thermal coal – used mainly for electricity generation ...

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Middle East share of India’s oil imports falls to four-year-low in 2019 – tanker data

India’s imports of Middle Eastern oil plunged to a four-year low in 2019, tanker data obtained from sources shows, as the energy-hungry nation diversifies its supplies to cut costs and help shield itself from geopolitical tensions. India, the world’s third-biggest oil consumer, imports about 84% of its oil needs and traditionally relies on the Middle East for the majority of its supplies. However, the region’s share of India’s crude shrank to 60% last year – down from 65% a year ago and the lowest since 2015 – as record output ...

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Iron ore – 5 things to watch in 2020

Wood Mackenzie identifies five trends that will impact the iron ore industry. Slower demand growth (especially in China) and a decent recovery in seaborne supply will continue to feature prominently in the iron ore industry in 2020. Prices will fall, with annual average price forecast for 2020 at $80/t. Vale – giving back (some of) what it took away in 2019 In 2020, Vale could once again be the biggest swing factor for iron ore, but this time in the opposite direction. Research director Paul Gray said: “Wood Mackenzie forecasts ...

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China publishes new standards for copper and aluminum scrap

China’s market regulator published new standards for high-grade copper scrap and aluminum scrap metal on Sunday, shedding some light on what material will be allowed into the country from the second half of this year. Details of the new standards, which take effect on July 1, have been highly anticipated by metals traders eager to know if they will still be able to ship their scrap into China, the world’s biggest metals consumer, as it bolsters its environmental crackdown on imports of solid waste. Beijing has set a target of ...

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PAJ president: oil supply disruption in Libya, Iraq could be offset by OPEC output

Oil supply disruptions in Libya and Iraq could be offset by increased output from OPEC, limiting the impact on global oil markets, the head of the Japanese petroleum industry said. “Oil prices may fluctuate due to the latest incidents, but we don’t have to worry about too much about demand and supply balance as OPEC can cover shortfalls (from Libya and Iraq),” Takashi Tsukioka, president of the Petroleum Association of Japan (PAJ), told a news conference. Two major oilfields in southwest Libya began shutting down on Sunday after forces loyal ...

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Death Of Suleimani Threatens The Future Of Iraq’s Oil Production Growth

The death of Iranian commander Qasim Suleimani on January 3rd in an American drone strike has roiled Iran and Iraq. It has also jeopardized the future of Iraq’s oil production growth. Heightened security risks in the wake of Suleimani’s death could persuade the international oil companies active in Iraq — like Exxon Mobil or BP — that investing in infrastructure projects that are key to Iraq’s oil production ambitions isn’t worth it. Iraq’s fiscal terms were already viewed as notoriously tough inside the oil industry, and routine maintenance at the ...

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Oil prices slide as supply concerns fade

Oil prices fell nearly 1% on Tuesday as investors expected Libya’s oil production to eventually resume following a force majeure declared by the oil exporter on two major oilfields amid a military blockade. Brent crude was down 56 cents, or nearly 0.9%, at $64.64 per barrel by 0748 GMT, after rising to its highest in more than a week on Monday. U.S. West Texas Intermediate crude was down 35 cents, or 0.6%, at $58.19 a barrel. “The situation in Libya provided oil prices an early boost but the rally fizzled ...

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Factbox: Libya’s oil blockade removes more than 1 mil b/d of sweet crude from global market

Libya’s crude production is on the verge of being crippled, and could plummet to less than one-tenth of its 1.20 million production capacity in a few days if its key oil fields and export terminals remain shut as the country’s political crisis deepens. Oil exports from Libya are also down to a trickle after the self-styled Libya National Army imposed a blockade over the weekend, forcing the OPEC producer to declare force majeure on exports from five key terminals. “When storage tanks are full in a few days, Libya’s oil ...

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China virus fear slams European shares

European shares were on pace for their sharpest decline in three weeks on Tuesday, as mounting concerns over a new coronavirus outbreak originating in China sparked a rush to safe-haven bets. The increased threat of infection, as millions travel for the Lunar New Year holidays, reminded investors of the economic fallout from the SARS crisis in 2003 that killed nearly 800 people. Long-haul flight operators Air France, Lufthansa and British Airways-owner IAG slipped about 2%, while China-exposed luxury goods makers including LVMH, Kering, Hermes and Burberry were also among the ...

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Yuan tumbles, yen rallies as spread of China virus unnerves markets

China’s yuan tumbled on Tuesday, pulling away from six-month highs against the dollar, while the yen rallied as the spread of a pneumonia-like virus in China sparked a sudden bout of risk aversion and rattled world markets. China reported a fourth death from a new coronavirus as the number of cases continued to rise, just as hundreds of millions of Chinese prepared to travel for the Lunar New Year holiday. Global stocks fell as the outbreak rekindled memories of the Severe Acute Respiratory Syndrome (SARS) in 2002/2003, another coronavirus which ...

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Fitch Ratings: US-China Deal Helps World Growth Stabilise; Uncertainties Persist

The signing of the US-China “Phase One” trade deal will boost business confidence and supports our view that global economic growth will stabilise in 2020, Fitch Ratings says. But its full impact will depend on how the deal is implemented, including whether China can meet its commitment to dramatically increase imports from the US, as well as possible trade diversion effects on other exporting economies. The 86-page agreement signed on 15 January includes pledges that China will strengthen intellectual property protection and address forced technology transfer, and that both sides ...

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