Shipping Data Shows Weakness in Global Economy

By Lisa Baertlein and Matthias Inverardi LOS ANGELES/DUSSELDORF, April 2 (Reuters) - The volume of U.S. ocean cargo imports arranged by Deutsche Post's DHL Group, United Parcel Service Inc, FedEx Corp and other freight forwarders fell sharply in February, sending a warning on global trade, a key barometer for the world economy. Though just a sliver of the global delivery and … [Read more...]

Shipping Remains ‘Cautiously Optimistic’, But Wary of Protectionism

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...]