After a period with soaring VLCC day rates from upward pressure on the tanker market due to uncertainty about US sanctions on Cosco subsidiary Dalian Tankers, oil traders are again booking Chinese vessels. Sources say these new charters are not going to push rates down anytime soon, though.
Chinese companies have bought ten ship cargoes of soybeans from the US, the biggest purchase since June, Reuters writes. This occurs a few weeks before China and the US once again meet for negotiations in the ongoing trade war. Updated.
China says that a range of US-produced goods will be exempted from the tariffs implemented last year as the country's government seeks to ease the impact of the current trade dispute with the US. But it will not lift the tariffs on soybeans and pork.
China shrugged off US President Donald Trump’s latest escalation of the tariff war, with state media signaling the government is ready to weather the economic turbulence as no progress to resolve the standoff is in sight.
Donald Trump says that China has requested to restart the two countries' trade talks. The statement came just hours after China's top negotiator called for calm after a weekend of back-and-forth tariffs that rocked global stocks.
The two largest shipyards in China are working on a merger, which will create one of the biggest shipyards in the world. The companies inform, however, that several details still need to be ironed out before an actual merger can take place.
A trade deal with China could push the US to the top of the list of LNG suppliers to China, projects Morgan Stanley. The bank says a deal could boost the US' share of Chinese gas imports to more than 20 percent by 2025.