MacGregor, CSSC Sign Deal on Strategic Cooperation

MacGregor, part of Cargotec, and China State Shipbuilding Corporation (CSSC) have signed a Letter of Intent (LOI) on a strategic cooperation. The LOI, which was signed on October 29, 2018 in Beijing, relates to MacGregor’s planned acquisition of the marine and offshore businesses of TTS Group and future cooperation potential between the two groups. The cooperation would
Complete Reading

Expectations for a one-on-one meeting between President Donald Trump and China’s Xi Jinping are already being lowered with officials from both sides increasingly pessimistic about prospects for a resolution to their deepening trade war. Larry Kudlow, the head of Trump’s National Economic Council, on Tuesday confirmed that the two presidents would meet “for a bit”
Complete Reading

U.S. futures and the Canadian dollar pushed higher at the start of the final quarter after the U.S. and Canada reached a last-minute deal late Sunday night to revise the North American Free Trade Agreement. The Canadian dollar rose 0.5% against the U.S. dollar to its highest level since May, while the Mexican peso climbed
Complete Reading

With European companies abandoning Iran in the face of growing U.S. pressure, European politicians backing Iran are counting on oil demand from China, India and Turkey to keep the 2015 nuclear deal alive. Since the U.S. withdrawal from the nuclear deal in May, Iran has threatened to resume its nuclear program if it loses economic
Complete Reading

As promised, U.S. President Donald Trump has escalated his trade war against China — announcing tariffs of 10 percent on another $200 billion in goods, plus a threat to raise the levy to 25 percent next year. Nearly half of China’s exports to the U.S. now face Trump’s taxes on trade. The president boasts that
Complete Reading

OPEC needs to keep working with other oil producers to manage global supplies as demand for crude faces “headwinds,” the head of the organization said. The historic supply deal between Saudi Arabia, Russia and other producers reached in late 2016 needs to become permanent, Mohammad Barkindo, secretary-general of the Organization of Petroleum Exporting Countries, said
Complete Reading

U.S. President Donald Trump said on Thursday that the United States was under no pressure to make a trade deal with China, even as Chinese officials welcomed an invitation from Washington for a new round of talks with more U.S. tariffs looming. He said on Twitter that a Wall Street Journal story on Wednesday about
Complete Reading

Russian shipping firm Sovcomflot has entered into a cooperation deal with the Bank for Development and Foreign Economic Affairs (Vnesheconombank) and VEB Leasing related to shipbuilding projects. Under the trilateral agreement, which was signed on September 12, 2018, the parties would jointly participate in the implementation of shipbuilding projects at Russian shipyards and import substitution projects.
Complete Reading

WASHINGTON: Negotiations for better trade deals between the US and India that meet the needs of both the countries are at the beginning stages, a senior White House official said recently. “I know that a number of administration officials just recently came back from India. They expressed their willingness to negotiate new and better trade
Complete Reading

  The trade war is a new reality with which the shipping industry will just have to live with as it seems. However it can also create opportunities, or not, depending on the shipping segment. In its latest weekly report, the London-based shipbroker Gibson attempts to gauge the effects of the recent NAFTA “good deal”
Complete Reading

Create Account



Log In Your Account