MOL and Allianz take Volkswagen to court over sinking of Felicity Ace car carrier

The shipowner of the Felicity Ace and its insurer have filed separate lawsuits in Germany against Volkswagen over the blaze and subsequent sinking of the car carrier. Mitsui OSK Lines and Allianz have identified what they believe to have been a faulty battery in a Porsche electric vehicle as the...

https://splash247.com/mol-and-allianz-take-volkswagen-to-court-over-sinking-of-felicity-ace-car-carrier/

German cycles give a better ride, Outlook for public sector asset management in Europe and the UK

German cycles give a better ride, Outlook for public sector asset management in Europe and the UK

Thursday  15 October 2020   – Vol.11 Ed.42.4

Commentary: German cycles give a better ride

By Bob Bischof in London

Britain has left the European Union — and is celebrating the occasion by adopting Germanic labour market policies. The pandemic has highlighted the value of German mechanisms to flatten the economic cycle. Chancellor of the Exchequer Rishi Sunak is introducing a German-style wage subsidy...

https://www.allaboutshipping.co.uk/2020/10/15/german-cycles-give-a-better-ride-outlook-for-public-sector-asset-management-in-europe-and-the-uk/

[Watch] OPEC+ Cuts Strike as Season Begins for European Oil and Gas Majors

According to a podcast published by Platts and presented by Kira Savcenko, highlights this week’s highlights.

Key highlights
  • OPEC+ cuts are to start on Friday;
  • Oil and gas company results begin to stream in;
  • The butadiene contract price’s fall spells trouble for olefins;
  • A Dutch wind auction closes; and
  • A German hydrogen strategy emerges.

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Source: Platts

The post [Watch] OPEC+ Cuts Strike as Season Begins for European Oil...

http://mfame.guru/watch-opec-cuts-strike-as-season-begins-for-european-oil-and-gas-majors/

Freight Rate Rise Increases Pressure on Dockside Scrap

  • An expected rise in freight rates for deliveries of ferrous scrap cargoes from Europe to Turkey is expected to lower the dockside prices.
  • Seaborne scrap market participants expect mills to try to drive down the imported scrap price by at least $10/t to around $310/t cfr Turkey.
  • The freight assessment for scrap cargoes from Amsterdam-Rotterdam-Antwerp (ARA) to Turkey was $12.50-13.50/t on 8 February — the lowest since the launch.
  • A $4,000/d hike in time-charter rates would result in a...

http://mfame.guru/freight-rate-rise-increases-pressure-on-dockside-scrap/

German exp/imp rises – Market leaders on alert

German exports took a surprising month-on-month jump in October, but that was offset by an even bigger rise in imports, resulting in a fall in the European economic powerhouse’s trade surplus.

According to figures released by Destatis, Germany’s national statistics office, exports rose by 0.7 percent in October from the previous month to €117.2 billion ($133.5 billion) while imports rose at an even quicker pace, up 1.3 percent to €98.9 billion.

Both figures were significantly up from those of a...

http://container-news.com/german-exp-imp-rises-market-leaders-alert/

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