Home / Uncategorized

Uncategorized

Supply chain adjustment doesn’t mean companies leaving China

Both domestic and foreign-funded companies in China have been readjusting their supply chains amid dynamics in total costs, uncertainty in tariffs, vulnerabilities of globalized supply chain and governmental push for reshoring. Nonetheless, the supply chain shifting outside of the global manufacturing powerhouse doesn’t mean companies are leaving China, according to experts. GLOBALIZATION SLOWS DOWN The globalization of global supply chains over the past quarter century has improved economic efficiency, but at the cost of economic resilience and sustainability, said Partner and Emerging Market Strategist with MRB Partners Mehran Nakhjavani recently. ...

Read More »

Hebei’s foreign trade up 5% in Jan-Aug

North China’s Hebei province saw its foreign trade grow by 5 percent year-on-year to 269.2 billion yuan (about $39.8 billion) in the first eight months of 2020, customs statistics showed. In breakdown, Hebei’s exports totaled 154.3 billion yuan, up 1.3 percent year-on-year, while its imports were 114.9 billion yuan, an increase of 10.2 percent, according to the Shijiazhuang customs. From January to August, Hebei’s general foreign trade reached 234.2 billion yuan, up by 4.8 percent year-on-year, accounting for 87 percent of the province’s total import and export value. Exports of ...

Read More »

Top European firms back Green Deal, pledge business overhaul

Executives from 30 of Europe’s leading companies backed the EU’s Green Deal on Wednesday and pledged to overhaul their businesses to help the bloc achieve climate-neutrality by 2050. The commitment, from companies including Deutsche Bank, Axa, Snam and Royal DSM, came ahead of European Commission President Ursula von der Leyen’s State of the Union address in Brussels. The European Green Deal forms a key plank of von der Leyen’s plan for the EU to both recover from the economic ravages of the COVID-19 pandemic and meet the goals of the ...

Read More »

Isolation pods make Greek islands safe

Generous donations made by companies and individuals funded seven state-of-the-art isolation pods for COVID-19 patient transport in Greece. The Greek ambulance service, EKAB, acquired seven top modern isolation pods, known as EpiShuttle, from the generous donations made to them. With the EpiShuttles in place, the ambulance service can perform patient monitoring and full intensive care of infected patients during air, sea and land transport. In case of a local outbreak, patients may now receive fast and safe transportation, even from remote locations. Thus, the EpiShuttle contributes to keep both tourists ...

Read More »

U.S. Seizure of Three Websites Used by Iranian Front Company that Was Shipping Fuel on Four Tankers to Venezuela

The Justice Department announced the seizure of three websites used by three front companies: Mobin International, Sohar Fuel, and Oman Fuel, who arranged a multimillion dollar fuel shipment by the Islamic Revolutionary Guard Corps (IRGC), a designated foreign terrorist organization, that was bound for Venezuela. On July 2, 2020, the United States filed a complaint seeking to forfeit all petroleum-product cargo aboard four foreign-flagged oil tankers, including the M/T Bella with international maritime organization (IMO) number 9208124, the M/T Bering with IMO number 9149225, the M/T Pandi with IMO number ...

Read More »

SSY ATLANTIC CAPESIZE INDEX 10 August 2020

At 7,637 points, the SSY Atlantic Capesize Index slipped 57 points in the week to 10 August.

Read More »

U.S. trade deficit narrows in June as exports rise faster than imports

The overall U.S. trade deficit narrowed in June as exports rose faster than imports, the U.S. Commerce Department reported Wednesday. U.S. exports rose by 9.4 percent to 158.3 billion U.S. dollars in June while imports increased by 4.7 percent to 208.9 billion dollars, the department said. Overall trade deficit declined by 7.5 percent to 50.7 billion dollars from a revised 54.8 billion dollars in May. “Although exports rebounded more, causing the overall trade deficit to narrow, imports are just 15.2% off their pre-virus February level compared to over 25% for ...

Read More »

Rules and Guides Updates: June and July 2020

Below you will find links and key highlights to our recently published new or revised ABS Rules, Guides and Guidance Notes for June and July 2020. Key Highlights ABS recently updated the Rules for Building and Classing Floating Production Installations to include two new notations, BRZ and BRZ+. Both notations provide owners, operators, designers, and shipyards with a design and construction-focused approach to help achieve compliance with domestic regulations for Floating Production, Storage and Offloading (FPSO) units and Floating Production Units (FPU) operating in Brazilian Jurisdictional Waters. Read more in ...

Read More »

China becomes net steel importer first time in 11 years in June

China became a net importer of steel for the first time in 11 years in June, despite record daily crude steel production during the month. This indicates the extent of China’s stimulus-fueled economic recovery, which has supported rising domestic steel prices, while other markets are still recovering from the impact of the coronavirus pandemic. China imported 2.48 million mt of semi-finished steel products in June, comprising mainly billet and slab, according to state-owned media citing China Customs data released on July 25. Added to finished steel imports, it took China’s ...

Read More »

South Sudan’s oil output falls 20,000 b/d on coronavirus spread: ministry

South Sudan’s oil production has dropped by 20,000 b/d to 170,000 b/d because of the impact of surging coronavirus cases, which has led to disruptions in operations at oil fields, Daniel Chuang, undersecretary in the ministry of petroleum, said July 20. “The measures put in place to contain the spread of the COVID 19 have impacted both production and the revenues from crude exports,” he said in a telephone interview. The country was aiming to produce 200,000 b/d in 2020, ramping up to 350,000 b/d by 2025, and had started ...

Read More »

Analysis: US aluminum premium steady as market eyes possible tariffs

CME Group’s AUP Midwest aluminum premium forward curve held steady this week, although some spreads tightening slightly, as the market awaits the possibility of tariffs on imports from Canada and also eyes the supply overhang not just in the US but globally. The futures contracts traded on CME Globex and CME Clearport and settle on a monthly basis, based on Platts’ US Aluminum transaction premium. The CME July contract settled at 9.174 cents/b on July 13, up 0.174 cent/lb from July 6 on a 0.25 cent/lb uptick in the Midwest ...

Read More »

China’s start-up index hits 4-1/2-year high on earnings improvement hopes

* SSEC +1.3%, CSI300 +1.6%, HSI +0.9% * HK->Shanghai Connect daily quota used 6.8%, Shanghai->HK daily quota used 4.5% * FTSE China A50 +1.0% SHANGHAI – China stocks firmed on Monday, with the tech-heavy start-up index hitting its highest in more than 4-1/2 years on hopes of earnings improvement, even as regulators vowed to crack down on illegal market behaviour. ** At the midday break, the Shanghai Composite index was up 1.27% at 3,426.21, while the blue-chip CSI300 index was up 1.63%. ** The start-up board index led gains, rising ...

Read More »

VIKING reaps Shipowner Agreement reward after Marine Fire Safety restructure

VIKING Life-Saving Equipment has reported a surge in demand for its one-stop shop Shipowner Agreement concept, following the integration of the Drew Marine Fire Safety and Rescue (FSR) division into its maritime safety solutions business. Having added all Drew Marine FSR marine firefighting equipment services (MFS) activities to its own industry-leading credentials in life-saving appliances late last year, VIKING is now a prominent supplier and service provider in the MFS segment. The Denmark based company employs over 100 specialist technicians who provide marine fire support in 47 countries, while its ...

Read More »

In China’s ‘Little Africa,’ a struggle to get back to business after lockdown

Mohammed has spent several weeks sleeping in his cramped trading booth in one of Guangzhou’s export centres after being kicked out of his apartment and forced into quarantine in April, but the Tanzanian trader says he is content to be in China. As Africans in the Chinese metropolis were targeted that month in a coronavirus clampdown that sparked a diplomatic backlash, Guangzhou’s Xiaobei neighbourhood – known as “Little Africa” – went into lockdown. Like many in the community, including those who were evicted from their dwellings, Mohammed said he is ...

Read More »

dfdf

Read More »

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping