By Alex Lennane (The Loadstar) - Protectionist trade policies are continuing to spook the global maritime sector, although a newly released report suggests the industry has “cautious optimism”. The Navis Business Bellwether report, conducted by Business Performance Innovation (BPI), surveyed more than 174 maritime executives on expectations and fears for the coming … [Read more...]
Big Oil Woos China With $24 Billion Spree in Old Pirate Lair
By Bloomberg News (Bloomberg) -- A Chinese archipelago that served as a pirate’s den in centuries past and was governed by President Xi Jinping in the new millennium is luring the world’s energy giants. State-run Saudi Arabian Oil Co. and U.S. behemoth Exxon Mobil Corp. were among firms that signed $24 billion in preliminary deals last Thursday at the International … [Read more...]
Opinion: Globalization Is Alive and Well, in Regional Deals
By Daniel Moss (Bloomberg Opinion) -- Give South Korean President Moon Jae-in marks for boldness. The Korean Peninsula seems an unlikely place to plant the seeds of a northeast Asian version of the European Union. Yet that is what Moon is proposing to do with a connected rail system. So much for that talk of “globalization in retreat.” One can’t judge only by the … [Read more...]
Where to Look in the Oil Market for Clues of a Demand Slowdown
By Ellen Milligan and Alex Longley (Bloomberg) -- This is supposed to be a year of bumper oil demand, but economic warning signs are flashing across the developing nations that drive growth. Emerging markets are expected to contribute 1 million barrels a day of additional oil demand this year, about three quarters of total global growth, according to the … [Read more...]
China Hammers U.S. Goods with Tariffs as “Sparks” of Trade War Fly
By Ben Blanchard and Tony Munroe BEIJING, April 2 (Reuters) - China has increased tariffs by up to 25 percent on 128 U.S. products, from frozen pork and wine to certain fruits and nuts, escalating a dispute between the world's biggest economies in response to U.S. duties on imports of aluminum and steel. The tariffs, to take effect on Monday, were announced late on … [Read more...]