Photo: Port of Los Angeles By Richard Clough (Bloomberg) -- The shipping industry will remain volatile for most of 2020 as the coronavirus outbreak in China upends the global supply chain, said the head of the largest U.S. container port. Cargo traffic through the Port of Los Angeles is down about 25% in February amid a rash of canceled ship sailings, Executive Director … [Read more...]
China Could Use Offshore Wind to Power Entire Coast, Study Finds
By Bloomberg News (Bloomberg) -- The gusts of wind cascading across China’s seas have the potential to power its populous coastal provinces many times over, a study from Harvard University shows. Wind farms along the coast could potentially supply 5.4 times more electricity than the current coastal demand, researchers said in a report. Falling costs for offshore wind mean … [Read more...]
Global Shipping’s ‘Perfect Storm’ to Pass, Veteran CEO Says
File Photo: Employees working at cargo ship Kypros Land which is loading soybeans to China at Tiplam terminal in Santos, Brazil, Merch 13, 2017. Picture taken March 13, 2017. REUTERS/Paulo Whitaker By Krystal Chia (Bloomberg) -- The global shipping industry has run into very rough waters in 2020 as the virus crisis that’s engulfed China and roiled commodity markets added to … [Read more...]
Big Oil Warned Trump Team China Trade Deal Was Unrealistic
File Photo: The LNG carrier Hoegh Galleon at Cheniere'sCorpus Christi Liquefaction. (Photo: Business Wire) By Jennifer A. Dlouhy, Shawn Donnan and Nick Wadhams (Bloomberg) - Industry leaders privately warned the Trump administration that the U.S. will struggle to deliver the oil, gas and other energy products that China has committed to buy in a new trade deal, raising … [Read more...]
Coronavirus Hits China’s Crude Oil, Iron Ore, Coal Imports: Russell
FILE PHOTO: A VLCC oil tanker is seen at a crude oil terminal in Ningbo Zhoushan port, Zhejiang province, China May 16, 2017. REUTERS/Stringer/File Photo By Clyde Russell LAUNCESTON, Australia, Feb 13 (Reuters) - Calculating the exact impact on commodity markets from the coronavirus epidemic in China is still a fraught process, with too many unknown variables, but … [Read more...]