India was a net importer of finished steel products in April for a second straight month despite a slight uptick in domestic production, latest provisional data from the Joint Plant Committee showed. Finished steel production edged up 0.4% year on year to 10.52 million mt in April, the first month...
Month: May 2019
Shanghai steel ticks down on oversupply concerns
Chinese steel rebar fell on Friday, turning in its most sluggish weekly performance since late December, as investors fretted about oversupply amid slowing destocking processes at traders and increasing output at mills. Inventory of steel products at Chinese traders dropped just 188,000 tonnes this...
https://www.hellenicshippingnews.com/shanghai-steel-ticks-down-on-oversupply-concerns/
Indonesia Inks Multimillion Dollar Blockchain Deal To Transform Shipping Industry
PLMP Fintech, a blockchain company based out of Singapore is all set to take part in a multimillion dollar logistics projects being undertaken in collaboration with the Indonesian government to improve the situation of the country’s shipping industry. A press release published on the 29th of May...
2020 Looking Good for Scrubber Equipped Tonnage: Drewry
But the financial case for scrubbers will ultimately disappear.
Port of Los Angeles MGO prices falls to an over one-month low
Marine gasoil pricing in the port of Los Angeles fell to over a one-month low amid talk of weaker price indications on a fallen energy complex, including weaker crude and good availability, sources said. “I saw it come off quite a bit last week … [I] think there must be ample supply, plus market...
https://www.hellenicshippingnews.com/port-of-los-angeles-mgo-prices-falls-to-an-over-one-month-low/
Turkish embargo on Cyprus ships condemned by European Community Shipowners’ Associations
Vice President of the European Community Shipowners’ Associations (ECSA) Claes Berglund has said that unilateral actions, such as the Turkish ban on Cyprus ships, were condemned as strongly as possible by ECSA. He was speaking at the 30th Annual General Meeting of the Cyprus Shipping Chamber, held...
Hyundai Heavy shareholders OK split-up plan amid harsh labor opposition
Shareholders of Hyundai Heavy Industries Co. on Friday approved the company’s split-up plan for a merger with a small local shipbuilder amid fierce opposition from its labor union. The split is the first step in the process of Hyundai Heavy’s proposed merger with Daewoo Shipbuilding & Marine...
Scrubber Owners Should Expect Mandatory Washwater Monitoring Regs
It's too late for Jan 1, 2020, but it may come within 2020 or 2021, says marine monitoring systems firm Rivertrace.