It’s Goodbye to Supertanker U-Turns on the High Seas

One of the more lucrative opportunities in global commodities markets is about to get a little bit trickier. What might best be described as detour trades — ships switching destinations to profit from higher cargo prices — will become more challenging to execute in 15 months’ time because of changes to the kinds of fuel
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COSCO Shipping Ports (CSP) reported container volumes of 8.7 million TEUs in August 2018, up 12 per cent year-on-year. One of the key reasons was the strong growth at its northern China ports, with box throughput at its terminals in the Bohai Rim region rising 22 per cent to 1.8 million TEUs, reports said. The
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Oil prices rose last week to more than $80 per barrel for the first time since November 2014. Rather than rising on the back of strong demand growth and a positive outlook for the global economy, the recent move in prices has been catalysed by growing market anxiety over supply. In a reversal of the
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The High Court of England and Wales in London has continued the injunction first made on 31 August 2018, prohibiting the Government of Djibouti’s port company, Port de Djibouti S.A. (PDSA) from interfering with the management of the joint venture company, Doraleh Container Terminal S.A. (DCT). On 31 August, the Court issued a without notice
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Atlantic metallurgical coal spot markets saw strong demand for high-vol B lift values to catch up with earlier increases for high-vol A and US low-vol. Apart from high-vol B purchases for Northwest Europe and Brazil, more spot demand was seen in Europe for October and Q4 loadings, according to sources. With domestic 2019 contracts accords
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Australia’s thermal coal exports have grown 14 percent on the back of high demand from Asia. Australian Bureau of Statistics’ (ABS) data released on Tuesday revealed that the value of thermal coal exports rose 14 percent in July to 2.45 billion Australian dollars (1.74 billion U.S. dollars). Export volume rose to an all-time high of
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Chinese steel futures climbed to a two-week high on Monday, gaining for the third straight day amid ongoing restrictions on production to control pollution led by top steelmaking city Tangshan. Tangshan said last week it will extend summer output cuts across the steel, coke and power sectors into September. “The market remained focused on the
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Coal imports by China held near the highest level in four years, underscoring buoyant demand in the world’s largest user even as lower domestic prices and a weaker currency hurt the appeal of overseas supplies. Foreign purchases fell just 1.1 percent in August to the equivalent of 925,161 metric tons a day, compared with 935,806
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The High Court of England & Wales has granted an injunction restraining Djibouti’s port company, Port de Djibouti S.A. (PDSA), from treating its joint venture shareholders’ agreement with DP World as terminated. The High Court has further prohibited PDSA from removing Directors of the Doraleh Container Terminal (DCT) joint venture company who were appointed by
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OPEC crude production rose in August to the highest level this year as a recovery in Libyan output helped to offset a cut in Iranian exports due to U.S. sanctions. The group’s 15 members, which now include the Republic of Congo, collectively produced 32.74 million barrels a day last month, an increase of 420,000 barrels
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