Scorpio Bulkers Inc. announced that the Company has entered into a financing transaction in respect of one of the Company’s Ultramax vessels with an unaffiliated third party. As part of the transaction, the Company will sell a 2016 Japanese built Ultramax dry bulk vessel, SBI Hermes, for a...
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Brands and maritime operators propose best practices for tackling counterfeit goods in maritime supply chains
New “Know Your Customer, Due Diligence and Maritime Supply Chain Integrity” Best Practices Paper launched at Global Intellectual Property Crime Conference in Dubai. Representatives from major global brands and maritime companies have developed a set of best practices for the maritime industry to...
Strong German inflation backs Draghi’s plan to end stimulus
German inflation picked up more than expected in September to overshoot the European Central Bank’s price stability target, data showed on Thursday, supporting ECB President Mario Draghi’s plan to gradually wind down monetary stimulus. Record-high employment and falling joblessness have led to a...
https://www.hellenicshippingnews.com/strong-german-inflation-backs-draghis-plan-to-end-stimulus/
‘No deal’ Brexit would force many UK firms into EU shift – BCC
One in five British companies would move at least some of their operations to the European Union in the event of a “no-deal” Brexit, according to a survey on Friday. A similar proportion said they would cut investment and jobs, the British Chambers of Commerce (BCC) said. With six months to go...
https://www.hellenicshippingnews.com/no-deal-brexit-would-force-many-uk-firms-into-eu-shift-bcc/
Japan’s August steel exports dip 1% on year to 3.15 mil mt
Japan’s steel exports edged down 0.9% year on year to 3.15 million mt in August, but were up 3.9% from July, Japan Iron & Steel Federation data released Friday showed. A JISF official said exports were largely stable on a year-on-year basis as steel producers have been kept busy meeting domestic...
https://www.hellenicshippingnews.com/japans-august-steel-exports-dip-1-on-year-to-3-15-mil-mt/
Shipping Bank: NordLB mulls stake sale to private equity, savings banks – sources
German public-sector bank NordLB, which aims to boost its capital by about 3 billion euros ($3.5 billion) to cope with bad ship loans, is considering a stake sale to a mix of private equity investors and savings banks, sources close to the matter said. NordLB said in a statement on Wednesday that...
Ongoing problems with Ukrainian ‘ecological inspectors’
The Loss Prevention department would like to remind members about the ongoing problems relating to false ecological inspections in Ukrainian Ports. One of the club’s correspondents has reported that they have seen an increase in the quantity of such incidents affecting foreign vessels. They also...
https://www.hellenicshippingnews.com/ongoing-problems-with-ukrainian-ecological-inspectors/
China reveals its new party line: We’re trying to save the world from the US
China hit out against the U.S. in a 71-page paper, accusing President Donald Trump’s administration of “trade bullyism practices” that have become “the greatest source of uncertainty and risk for the recovery of the global economy.” The document, published on Monday, outlined the Chinese...
Hank Paulson Says China Trade War Risks Long-Term U.S. Pain
A trade war with China carries “dangerous” long-term risks because companies and nations may pull back from doing business with the U.S., former Treasury Secretary Henry “Hank” Paulson said. “The question really is: Is China going to start looking for new markets for which they’re going to buy...
https://www.hellenicshippingnews.com/hank-paulson-says-china-trade-war-risks-long-term-u-s-pain/
Asia’s troubled emerging markets to shave oil demand next year
Asia’s emerging markets, the key driver for global oil demand growth, are being hit hard by soaring crude prices and sliding currencies, raising red flags over expectations of further increases in consumption. Import-reliant economies are already aching under oil prices that have risen above $80...
https://www.hellenicshippingnews.com/asias-troubled-emerging-markets-to-shave-oil-demand-next-year/