Hard times ahead for China’s economy, says Alibaba’s Jack Ma
Jan31

Hard times ahead for China’s economy, says Alibaba’s Jack Ma

China’s short-term economic outlook will be “tougher than expected” and trade friction was inevitable with the US, Alibaba executive chairman Jack Ma said as China was reported to be lowering its growth target for this year. “In the coming three to five years … the economic situation will be even more arduous than everyone had expected,” said the e-commerce billionaire at an annual meeting of the General Association of Zhejiang...

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Europe preparing for biggest Iran oil imports
Jan30

Europe preparing for biggest Iran oil imports

Market figures show Europe is preparing to import the highest amount of crude oil from Iran in five years this month. Figures released by Bloomberg show that arrivals on supertankers will reach 622,581 barrels a day in January, the biggest flows for a single month since at least November 2011. Bloomberg said two Iranian supertankers — Huge and Snow – were already en route to Europe, bringing about 4 million barrels between them....

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Korean big 3 shipbuilders continue tough restructuring this year
Jan27

Korean big 3 shipbuilders continue tough restructuring this year

South Korea’s three largest shipbuilders will continue intensive downsizing programs this year, cutting payrolls further and selling additional assets to regain global competitiveness amid a deep recession across the industry. The shipbuilders aim to jettison assets worth more than 4 trillion won ($344 million) by the end of this year, while raising a new order target by three times from what they earned last year. That’s according to...

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Cargo Shipping Market Analysis, Trends, Forecast, 2017-2027
Jan25

Cargo Shipping Market Analysis, Trends, Forecast, 2017-2027

Future Market Insights has announced the addition of the “Cargo Shipping Market: Global Industry Analysis and Opportunity Assessment 2017-2027″ report. Trade liberalization and global economic growth boost the cargo shipping market. In the past decade cargo shipping market has fared quite successfully. With economic growth and development there is a direct increase in commodity consumption, which drives the cargo shipping...

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Hyundai Merchant Marine to Become No. 2 stakeholder in Long Beach Terminal
Jan24

Hyundai Merchant Marine to Become No. 2 stakeholder in Long Beach Terminal

Hyundai Merchant Marine Co. (HMM), has decided to buy a 20 percent stake in Hanjin Shipping Co.’s Terminals International LLC (TTI), which operates a terminal at the Port of Long Beach in the United States. With the latest decision, the company will be able to secure a stable profit on the Asia-U.S. services. HMM, South Korea’s largest shipping line following Hanjin’s collapse, said its board of directors agreed to buy a 20 percent...

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