Henrik Althén, Managing Director of GAC Singapore (left) with Carl Peeters, CFO of Ahlers Group in a virtual signing ceremony
GAC fortifies foothold with acquisition of Ahlers Singapore container logistics business unit
Singapore, 21 July 2020 – GAC has further strengthened ties with Belgium-based logistics services provider Ahlers nv (“Ahlers”) with a Memorandum of Understanding (MOU) to acquire the container logistics business unit of its Singapore subsidiary.
The acquisition of Ahlers...
GLOBAL & REGIONAL DAILY (Tuesday 21 July 2020)
GLOBAL & REGIONAL DAILY
HIGHLIGHTS
July 21 2020
Global Markets
Risk-on sentiment prevailed on Tuesday after EU leaders finally reached a deal overnight on the Recovery Fund, entailing €390bn of non-repayable grants – down from €500bn initially proposed – and €360bn of low-interest loans.
Greece
Following the marathon EU Summit on the Recovery Fund, Greek PM Kyriakos Mitsotakis called the outcome a “national success” that would allocate Greece around...
https://www.allaboutshipping.co.uk/2020/07/21/global-regional-daily-tuesday-21-july-2020/
Repairing flaws exposed by Wirecard déjà vu, New speaker confirmed for launch of Global Public Investor 2020
Tuesday 21 July 2020 – Vol.11 Ed.30.2
Commentary: Repairing flaws exposed by Wirecard déjà vu
By Ignazio Angeloni in Frankfurt
For all its peculiarities, the Wirecard scandal conveys a sense of déjà vu. This case, like others, demonstrates deep flaws in the design and conduct of financial supervision. A new system is needed where the different supervisory entities act with greater speed...
John Faraclas
Dries fall and Wets “surge” amid an upcoming Armageddon in all fronts
The BDI (Baltic Dry Index) fell 32 points since last Friday 17/7 and now stands at 1,678 losing also the 1,700 points. Threshold… Geopolitics in despicable mess and Coronavirus rules the …day. John Faraclas’ brief daily recap:
The Capes’ BCI lost 75 points as well as the 3,000 points threshold and now reads 2,950 !!!!
The Panamaxes’ BPI was also down 39 points losing also the 1,500 points threshold and now reads...
GLOBAL & REGIONAL DAILY (Monday 20 July 2020)
GLOBAL & REGIONAL DAILY
HIGHLIGHTS
July 20 2020
Global Markets
Asian equity indices started the week on a firm tone and the euro surged to a four-month high against the US dollar, as EU leaders appeared to have made progress towards an agreement on the Recovery Fund. EU talks are likely to resume later in the day.
Greece
According to ELSTAT, for the enterprises of the economy as a whole, obliged to double-entry accounting bookkeeping, for which data are...
https://www.allaboutshipping.co.uk/2020/07/20/global-regional-daily-monday-20-july-2020/
Atul Bhakta, CEO of One World Express
The importance of global trade to the UK’s Covid recovery
By Atul Bhakta, CEO, One World Express
The UK’s economy, like the economies of most advanced nations, has been dealt a heavy blow by Covid-19. The Office of National Statistics (ONS) places the damage at a 24.5% contraction of GDP since February 2020, a figure unimaginable by economists before the sheer scale of the virus was understood.
Despite the hardships of the past six months, however, there are...
GLOBAL & REGIONAL DAILY (Friday 17 July 2020)
July 17 2020
Global Markets
Risk appetite revived on Friday as China’s state media sought to reassure investors on the outlook for onshore equities. Hopes for a Covid-19 vaccine and more fiscal stimulus around the globe, with the US Congress set to begin debating a new package next week, also helped investor sentiment.
Greece
In its semi-annual Financial Stability Review, the Bank of Greece reiterated that it is working on a comprehensive asset...
https://www.allaboutshipping.co.uk/2020/07/17/global-regional-daily-friday-17-july-2020/
Oslo Børs
Oslo Børs: Summer record in the primary market
“Norwegian brokerage firms have never raised as much capital for companies being admitted to listing in the course of the ‘holiday’ month of July as they have this year. Similarly, they have never before helped so many companies to list on the stock exchange in the course of the month of July”, comments Øivind Amundsen, the President and CEO of Oslo Børs.
July is usually a quiet month, but this year the primary market has seen a...
https://www.allaboutshipping.co.uk/2020/07/17/oslo-bors-summer-record-in-the-primary-market/
John Faraclas
BDI dives further; Geos in disarray and COVID-19 remains “unscathed”
Midweek blues for the Dry Market which now dives; this is not a fall and we hope things reverse as if not… it will be a catastrophe amid the Recession and COVID-19. John Faraclas midweek brief recap:
The BDI (Baltic Dry Index) lost 46 points since yesterday and now stands at 1,696 losing also the 1,700 points threshold!
Another triple digit loss for the Capes’ BCI, now at 2,941 points – minus 141 AND loss of the...
Economic figures for June indicate that the global economy appears to have turned the corner from the hit from Covid-19, with trade and production volumes trending up on both sides of the Pacific Basin.
However, recovery is expected to be bumpy in the coming months as the surge in Covid-19 infections in multiple economies impacts economic activity.
US manufacturing officially returned to growth in June, with the Institute of Supply Management’s purchase …
The post June productivity rebound...
https://theloadstar.com/june-productivity-rebound-suggests-a-return-to-growth-but-its-bumpy-ahead/