OPEC+ cuts affect Middle East’s tanker market

OPEC+ cuts affect Middle East’s tanker market
According to Gibson Shipbrokers, OPEC+ announced the expansion of their product cuts for additional nine months until the end of the first quarter of 2020. Yet, the OPEC cuts are a negative development concerning Middle East’s tanker market, mostly affecting VLCCs.

Specifically, according to the report, in Q4 of 2018, almost 68% of all spot VLCC trade originated out of the Middle East Gulf and Red Sea, compared to 14% out of West Africa and nearly 15% out of the US Gulf and Latin America.



Watch: The Belt and Road Initiative explained

CNBC International’s Xin En Lee addresses the Belt and Road Initiative, which she comments marks a huge change in China’s foreign policy. Generally, the Belt and Road Initiative was firstly announced by Chinese President, Xi Jinping in 2013. Its aim is to strengthen trade, infrastructure and investment relations, between China and an estimated 65 other countries.

The Initiative boosts the countries’ investment, as in Sri Lanka, almost $200 million of Chinese funding went in the country’s...


Daily Overview of Global Markets & the SEE Region (Monday, 15 July, 2019)

Daily Overview of Global Markets & the SEE Region (Monday, 15 July, 2019)



GLOBAL MARKETS:  Notwithstanding Fed Chair Jerome Powell’s unambiguously dovish tone at his semi-annual testimony mid-last week, US Treasury yields continued to rise in early trade today, amid reduced expectations for an aggressive 50bps rate cut at the 30-31 July FOMC meeting following the firmer-than-expected US June core inflation report late last week. Along these lines,...


Piraeus Bank explores financing for Greek shipping companies

Greek Piraeus Bank announced it is exploring a potential strategic partnership opportunity with a major Asian Pacific financial conglomerate operating globally, to provide financing solutions to Greek shipping companies.

This pioneering initiative forms part of Piraeus Bank’s continued commitment to the shipping community, through investment of international capital into existing opportunities and new financing to the shipping industry,

…the Bank explained in an official statement.



Darrell Delamaide on the Fed, David Marsh on the ECB, and more

Jerome Powell

Darrell Delamaide on the Fed, David Marsh on the ECB, and more


Latest opinion and analysis from OMFIF around the world

8-12 July 2019, Vol.10 Ed.28
Most-Read Commentary
Market expectations test Fed mettle: All eyes will be on Fed Chair Jerome Powell this week when he gives his twice-yearly congressional testimony, writes Darrell Delamaide. Fed funds futures still show a 100% chance of a rate cut at the end of this month. The question is whether the Fed will have...