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Largest Shipping Decline Since 2009 and That's Before Coronavirus Save

  • Market News Source: fxstreet
  • Posted a day ago
  • 12 Views
The January Cass Freight Shipping Index is more bad news for the global economy. The Cass Freight Shipping Index is down 9.4% year-over-year, the largest decline since 2009. And this is for January, before the Coronavirus disruption.
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Largest Shipping Decline Since 2009 and That's Before Coronavirus

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  • Largest Shipping Decline Since 2009 and That's Before Coronavirus Save

    • Market News Source: fxstreet
    • Posted a day ago
    • 12 Views
    The January Cass Freight Shipping Index is more bad news for the global economy. The Cass Freight Shipping Index is down 9.4% year-over-year, the largest decline since 2009. And this is for January, before the Coronavirus disruption.
    shipping industryfreightviurs
    Largest Shipping Decline Since 2009 and That's Before Coronavirus
  • China’s metal exporters face order cancellations, damage claims amid virus: trade group Save

    Some overseas buyers of Chinese metal products have stopped accepting shipments amid the coronavirus outbreak, while other clients – including from India – are seeking damages due to a failure to deliver on time, a China trade body said on Tuesday. Companies in places such as Russia, Turkey, the Middle East and North Africa have informed Chinese suppliers they are not accepting deliveries, or asked if they can suspend purchases, the Metallurgical Council of the China Council for the Promotion of International Trade said on its website.
    metaldry bulkcharter
    China’s metal exporters face order cancellations, damage claims amid virus: trade group
  • China to allow tariff exemptions on US crude, LNG and refined product imports Save

    China on Tuesday said it will start accepting applications for tariff exemptions on 696 US-origin goods, including crude oil, LNG and refined products, from March 2, in a move that will allow it to meet purchase targets under the recent US-China trade deal. The exemptions will enable Chinese companies to avoid tariffs on US imports that were imposed by Beijing over 2018 and 2019 in retaliation for US tariffs on Chinese goods, in the ongoing trade dispute between the two countries.
    chinauscrude oilLNGcharter
    China to allow tariff exemptions on US crude, LNG and refined product imports
  • Newbuilding Activity Tumbles Down, But S&P Market Rather Active Save

    Ship owners have refrained from newbuilding ordering activity this past week, but they’ve been rather active in the S&P market. In its latest weekly report, shipbroker Banchero Costa said that it was “fairly active in the second hand market. In the dry segment, the ‘White Hawk’ 61,000 dwt built in 2012 at Oshima was sold to Greek buyers for $15.7 mln. Again, there was a Greek buyer behind the purchase of the ‘Cygnus Ocean’ 58,000 dwt built in 2013 at NACKS which was sold for $13.2 mln. The Handysize ‘Ultra Tolhuaco’ 37,000 dwt built in 2015 at Oshima was sold for $17 mln to an unknown buyer. The sale represented a benchmark for 5 years old Handysize units, was in line with the one of ‘Vanessa Oldendorff’ 38,000 dwt built in 2015 at Nakai Setoda earlier this year. In the wet segment Euronav acquired 3 x VLCCs resale from Daewoo. The vessels were sold for $93.75 mln each and they will be the first scrubber-fitted VLCCs despite the 42 VLCCs presently owned by the company. Moving to the chemical tankers, apparently Borealis Maritime bought for region $6 mln the ‘Rio Daytona’ 13,000 dwt built in 2010 by STX, the Korean yard is the only one building 13,000 dwt chemical tankers with a loa equal or under 120m. Not an intense week in the gas segment: the only vessel sold apparently was the ‘Brit Kosan’ 3,443 cbm built in 1999 by Hitachi which went to the Indonesian Waruna Nusa Sentana PT for $3.1 mln.
    newbuildingshipbuilding
    Newbuilding Activity Tumbles Down, But S&P Market Rather Active
  • Allied's Weekly Market Report Update Week-07 Save

    • Industry Report Source: hyq
    • Posted a day ago
    • 9 Views
    Allied's Weekly Market Report Update Week-07
    dry bulkcharter
    Allied's Weekly Market Report Update Week-07

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