Global Shipping looks Better Next Year’

The international shipping industry may be still reeling from the major economic downturn a decade ago, but prospects will look better starting next year, according to a maritime school official. Dr. Neopol Salvador, director of the School of Graduate Studies at the Asian Institute of Maritime Studies (AIMS), said the shipping market was still suffering
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The World Steel Association (worldsteel) released its October 2018 Short Range Outlook (SRO). worldsteel projects global steel demand will reach 1,657.9 Mt in 2018, an increase of 3.9%* (please see *note below) over 2017. In 2019, it is forecast that global steel demand will grow by 1.4% to reach 1,681.2 Mt. Commenting on the outlook,
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Global stocks dropped on Monday, resuming last week’s slump on concerns around global trade tensions and fresh uncertainty over a Brexit deal. The Stoxx Europe 600 was down 0.4%. In Asia, Japan’s Nikkei Stock Average dropped 1.9% while Hong Kong’s Hang Seng was down 1.2%. In the U.S., futures pointed to a 0.4% opening drop
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Global port traffic volumes have picked up speed, according to the UNCTAD Review of Maritime Transport 2018. Global port activity and cargo handling expanded rapidly in 2017, following two years of weak performance. UNCTAD estimates that 752 million TEUs were moved at container ports worldwide in 2017. The outlook for global port handling activity remains
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Crude Oil Price Movements In September, the OPEC Reference Basket increased sharply by almost 7%, or $4.92 m-o-m, to average $77.18/b the highest since October 2014. Crude oil futures prices also increased for the month, mainly supported by geo-political tension, growing concerns over a shortage in global oil supply and low US oil inventories, particularly
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Storm clouds were building over the global economy, even before the brutal sell off in stock markets during the last 24 hours. Escalating oil prices, rising interest rates, an appreciating dollar, and growing uncertainty about the outlook for international trade are proving a poisonous cocktail for global growth and have been triggered crises in the
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GENEVA: Global growth has plateaued at 3.7 per cent, the International Monetary Fund (IMF) said recently, with its Chief Economist warning the world that there are clouds on the horizon and growth has proven to be less balanced than hoped. “Last April, the world economy’s broad-based momentum led us to project a 3.9 per cent
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If oil prices head above $100 a barrel, it could shave 0.2 percentage points from global economic growth next year — but this hinges crucially on the dollar, according to Bank of America Merrill Lynch. Sanctions on Iran, shale bottlenecks, Venezuelan turmoil and increased demand pose an upside risk to prices, the bank said in
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Asian spot liquefied natural gas (LNG) prices eased slightly over the past week as healthy supplies going into the northern hemisphere’s autumn season countered upward pressure from a bullish oil market. Spot prices for November delivery LNG-AS dipped by 10 cents to $11 per million British thermal units (mmBtu), industry sources said. That slip came
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Senior stakeholders believe that the global maritime industry is not prepared to deal with major issues that are likely to impact it over the next ten years. This is according to the Global Maritime Issues Monitor 2018, published by the Global Maritime Forum, global insurance broker and risk adviser Marsh, and the International Union of
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