As much as 23% of cargo moving through the Port of Long Beach and more than 20% of cargo at the Port of Los Angeles stand to be affected by tariffs on $200 billion worth of Chinese imports announced by the Trump administration on September 17, according to port representatives. The 10% tariffs are...
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Marshall Islands marches toward zero greenhouse emissions by 2050
The Marshall Islands, an atoll-nation vulnerable to sea level rise from climate change, announced steps towards an ambitious plan to cut its greenhouse emissions to zero by 2050. The Pacific country became the first small island nation to present such a strategy to the United Nations amid...
Shipping firms urged to work around trade tariffs, restrictions
Container shipping firms along with other players in the cabotage industry have been urged to persevere and find ways to work around trade tariffs, import restrictions and trade embargoes to sustain their business in an industry that is already in distress having to contend with numerous...
https://www.hellenicshippingnews.com/shipping-firms-urged-to-work-around-trade-tariffs-restrictions/
Trump’s Blow to Iranian Oil Sparks Curious Price Divergence
The relationship between two major oil benchmarks is charting an unexpected course as U.S. sanctions take Iranian crude out of the market. As demand for alternative Middle Eastern supply increases, regional marker Dubai crude has reason to strengthen. Yet it’s weakening against London’s Brent — an...
https://www.hellenicshippingnews.com/trumps-blow-to-iranian-oil-sparks-curious-price-divergence/
US spends $81 billion a year to protect global oil supplies, report estimates
The United States military spends about $81 billion a year to protect oil supplies around the world and keep fossil fuels flowing into American gas stations, according to new analysis. Securing America’s Future Energy, a think tank that advocates for reducing U.S. dependence on oil, released the...
Oil could rise to $100 by 2019 as global markets tighten, merchants warn
Oil prices could rise towards $100 (£76.5) per barrel towards the end of the year or by early 2019 as sanctions against Iran bite, commodity merchants Trafigura and Mercuria said on Monday at the Asia Pacific Petroleum Conference (APPEC) in Singapore. Almost 2 million barrels per day (bpd) of crude...
China’s August grain imports slide on Sino-U.S. trade war
China’s grain imports fell sharply in August, customs data showed on Sunday, a month after Beijing imposed hefty tariffs on shipments from the United States, one of its top suppliers. China brought in 60,000 tonnes of sorghum in August, down 78.5 percent from 259,892 tonnes a year ago, according to...
https://www.hellenicshippingnews.com/chinas-august-grain-imports-slide-on-sino-u-s-trade-war/
Why China buying up ports is worrying Europe
There is rising concern about whether China will use its commercial acquisitions of overseas ports for military purposes, under its drive to put civilian technology and resources to military use. Under its trillion-dollar “Belt and Road Initiative” – a blueprint announced in 2013 to boost trade and...
https://www.hellenicshippingnews.com/why-china-buying-up-ports-is-worrying-europe/
CMA CGM marks 40 years at sea
Ships belonging to French container shipping company CMA CGM are regular visitors in the port of Durban, taking up berths at the container terminal and easily identified by the large letters CMA CGM on their dark-blue hulls that make them hard to miss. Last Thursday the company held a worldwide...
https://www.hellenicshippingnews.com/cma-cgm-marks-40-years-at-sea/
The U.S. Must Not Lose China’s Liquefied Natural Gas Market
With the first facility coming online just 31 months ago, the U.S. now stands at the beginning of a tremendous chance to flourish in the rapidly expanding liquefied natural gas (LNG) export business. Our capacity to export LNG is set to boom from ~3.5 Bcf/d today (about 4% of total U.S. gas...
https://www.hellenicshippingnews.com/the-u-s-must-not-lose-chinas-liquefied-natural-gas-market/