Commodity bull Goldman Sachs Group Inc. says raw materials are poised to gain into the end of the year as investors have now become used to trade-war tensions, growth in top economies remains strong, and consumers who’d put off purchases in recent months start buying again. Copper jumped. “This...
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Lehman Brothers workers share memories 10 years after the fall
Ex-employees of Lehman Brothers Holdings Inc met at Irish pubs near their former office in Midtown Manhattan on Thursday night to reminisce 10 years after the bank’s collapse, in gatherings with the atmosphere of high school reunions despite marking the largest failure of the financial crisis. More...
https://www.hellenicshippingnews.com/lehman-brothers-workers-share-memories-10-years-after-the-fall/
Tariff dispute affects U.S. port trade potentially: port authority
The tariff dispute between the United States and its trading partners may potentially affect the port trade, causing an increase in the construction costs, a U.S. port official said. John LaRue, the executive director of the Port of Corpus Christi, made the remarks at a two-day annual symposium...
Tanker Market: VLCCs Looking for New Direction
VLCC Rates for 270,000mt, from the Middle East Gulf to both China and Singapore, were marginally firmer at WS 56.5/57.5, and a US Gulf-bound cargo to the US Gulf done at WS 20 Cape/Cape, but now assessed at WS 21.5. West Africa to China gained two points to WS 57, basis 260,00mt, US Gulf to …
https://www.hellenicshippingnews.com/tanker-market-vlccs-looking-for-new-direction/
U.S. Gas Shunned by China as Goldman Sees Swift End to Trade
Even with China’s smaller-than-threatened tariff on U.S. natural gas, American cargoes may still be kryptonite for Chinese traders trying to navigate the ongoing trade war. Chinese buyers will seek to avoid purchasing U.S. liquefied natural gas as long as any tariffs are in place because of the...
https://www.hellenicshippingnews.com/u-s-gas-shunned-by-china-as-goldman-sees-swift-end-to-trade/
Piraeus, where the maritime Silk Road meets land
The port of Piraeus in Greece, the largest of its kind in the eastern Mediterranean Sea, is a major terminal for vessels traveling from Asia to Europe. Chinese company COSCO SHIPPING built the harbor, a key station that links maritime and land transport routes. “We consider the Piraeus terminals a...
https://www.hellenicshippingnews.com/piraeus-where-the-maritime-silk-road-meets-land/
Bunkering sector mulls biofuel use in new 2020 sulfur standards
As the bunkering industry gears up for the International Maritime Organization’s tighter sulfur emission standards from 2020, some market participants have been promoting the blending of biofuels as one possible way of reducing emissions. Increasing the proportion of biofuels in the marine...
Shipping Lobby Proposes Phased Start to Historic Fuel Change
The shipping industry is pressing for a phased start when tough new rules governing vessel fuel get under way in fewer than 16 months’ time. Three trade groups and four countries where thousands of ships are registered made a joint proposal to the International Maritime Organization on Aug. 31 for...
https://www.hellenicshippingnews.com/shipping-lobby-proposes-phased-start-to-historic-fuel-change/
Pirates kidnap 12 crew members from Swiss vessel in Nigerian waters – ship operator
Pirates kidnapped 12 crew members from a Swiss merchant vessel on Saturday in Nigerian waters, the ship’s operator said in a statement. Kidnapping for ransom is a common problem in parts of Nigeria. A number of foreigners have been kidnapped in the last few years in the southern Niger Delta region,...
Going long: Chinese steel mills chase iron ore contracts with Brazil’s Vale
Chinese steel mills and traders are rushing to secure long-term contracts for high-quality iron ore ahead of winter steel output cuts, a boon for the main supplier of such grades of the commodity, Brazilian mining giant Vale. China, the world’s biggest consumer of the steelmaking ingredient, needs...