Metals Poisoned by Turkey Contagion as Copper Nears Bear Market

From Turkey’s financial crisis to China’s trade war, the emerging-market contagion is infecting metal markets. Base metal markets tumbled on Wednesday, with most contracts falling more than 2 percent in London. Copper sank below $6,000 a metric ton and is now approaching a bear market. Not even gold, the usual safe haven, was spared from
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Crude Oil Price Movements In July, the OPEC Reference Basket increased marginally by 5¢ m-o-m to settle at $73.27/b. Oil futures saw mixed movement over the month, while US oil inventories continued to drain, particularly in Cushing, Oklahoma. ICE Brent averaged 99¢ m-o-m lower at $74.95/b, while NYMEX WTI rose $3.26 m-o-m to $70.58/b. Year-to-date
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HAMBURG: Hapag-Lloyd has concluded the first half of the year 2018 with earnings before interest, taxes, depreciation and amortisation (EBITDA) of EUR 425.2 million. This is EUR 61.4 million higher compared to the EBITDA of the first six months of 2017 (EUR 363.8 million). The earnings before interest and taxes (EBIT) stood at EUR 88.7
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Hapag-Lloyd has concluded the first half of the year 2018 with earnings before interest, taxes, depreciation and amortisation (EBITDA) of EUR 425.2 million. This is EUR 61.4 million higher compared to the EBITDA of the first six months of 2017 (EUR 363.8 million). The earnings before interest and taxes (EBIT) stood at EUR 88.7 million
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Euroseas Ltd., an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes, announced its results for the three and six month period ended June 30, 2018. The Spin-off On May 30, 2018, the Company spun-off its drybulk fleet (excluding M/V Monica P, a handymax drybulk carrier, which was agreed
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China’s threats of new tariffs on $60 billion worth of U.S. imports will create shifts in the energy market, as American liquefied natural gas makes the list of goods Beijing will target, analysts said. The move to include LNG raised eyebrows as China had previously held back at including the fuel on the list of
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Overseas Shipholding Group, Inc. a provider of energy transportation services for crude oil and petroleum products in the U.S. Flag markets, reported results for the second quarter 2018. Highlights Net income for the second quarter was $3.1 million, or $0.03 per diluted share, compared with net income of $3.2 million, or $0.04 per diluted share,
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The solar industry equipment transportation market is estimated to rise at a significant CAGR (compounded annual growth rate) of 7.24 per cent during the period 2017 to 2021, according to a report. The report has focused on types, applications, key drivers, challenges and opportunities to determine the overall attractiveness and profitable trends to gain a
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The UK division of global logistics provider Yusen Logistics has announced the acquisition of e-commerce delivery and fulfilment specialist ILG. It is anticipated that the acquisition (completed on August 1, 2018) will result in a 12 per cent revenue growth for Yusen Logistics, pushing them towards being one of the UK’s top 10 logistics providers.
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Kuwait’s oil minister said that the global oil market was approaching stability based on current production levels after the recent OPEC and non-OPEC agreement to boost output. “It is clear today based on the current level of production that we are approaching a very stable stage … whether for the consumers or the producers,” Bakhit
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