News on US.
As China's President Xi Jinping works toward a trade deal with the US, China resumed its buying of US soybeans in a move that brings some relief to US farmers.
The Jones Act prevents foreign shipping companies from competing freely on the US market, for instance the offshore carriers servicing the wind sector, which are currently trying to enter the country. (edited).
The truce between the US and China may have postponed an open conflict, but it has not yet prevented one. ShippingWatch has gathered reactions from Maersk Line, HMM, OOCL and Hapag-Lloyd. Shipping bank Nordea is far from convinced about the effect of a temporary agreement.
The US government has issued a new warning to the shipping industry to not violate the recently reintroduced sanctions by, for example, sailing Iranian oil to Syria. At the same time, the US also introduces new sanctions against nine Iranian targets.
For the past two months, US exports of oil to China have clocked in at zero, according to Bimco. But other countries have increased their import of US oil.
More than 200 individuals and ships in the Iranian shipping and energy sector, including the two major state-owned carriers, are included on the US sanction list. The US warns the global shipping industry against Iranian attempts to evade the sanctions.
Oil prices slipped to the lowest levels in seven months as fears that US sanctions on Iran would strain global supplies eased.
The US and China want the World Trade Organization to address the case of increased customs tariffs.
Two vessels carrying soy beans departed the US for China, which could indicate that buyers are getting increasingly desperate for supplies as trade war lingers between the two nations.
Signs that the potential impact of sanctions on Iran could be mitigated made oil prices drop for the third consecutive day.
China now says that negotiations to resolve trade dispute with the US cannot take place while President Trump continues to threaten with new tariffs on Chinese imports.
China is allegedly planning to slash its average tariffs on imports from most its trading partners as early as October, sources say. The move would lower consumer impact of deepening US trade war.
US President Donald Trump acts on his threats, and starting next week the US will introduce additional tariffs on Chinese goods totaling USD 200 billion.
If the trade war between the US and China escalates, it will likely lead to less traffic going through the Panama Canal, warns the canal's administrator.
The US has overtaken Saudi Arabia and Russia as the largest oil producer in the world. According to an investment company, a significant part of the explanation is the technological development, writes CNN.
US President Donald Trump will likely already Monday take a new step in the trade dispute with China by placing tariffs on almost all of the US' annual import of goods from China.
Hurricane Florence is currently ravaging through the US east coast and will impact shipping routes in the region. One specific market will be struck particularly hard. Carriers are decreasing the speed of vessels.
The US should not attempt to out-do China in the two super powers' ongoing trade dispute, writes Chinese state newspaper China Daily.
The US has overtaken Saudi Arabia and Russia as the largest oil manufacturer in the world. According to an investment company, a significant part of the explanation is the technological development, writes CNN.
A barrel of oil traded at almost USD 71 in New York as tropical storm Gordon approaches the US Gulf Coast, forcing evacuations and threatening supply.
Japanese media report that the country's attempts to be exempted from the US sanctions on Iran have failed.
The US has sanctioned the owners of six Russian tanker ships on claims that they are helping transfer petroleum products to North Korean vessels in violation of international prohibitions.
According to Reuters, Chinese oil traders have started to switch their cargoes to ships owned by Iranian tanker shipping company NITC in an effort to ensure oil shipments despite the US sanctions.
China is expected to take over from France's Total SA to develop Iran's share of the world's biggest gas deposit. The French oil major has halted operations after US President Donald Trump reimposed sanctions on Iran.
Swiss-based commodity trader Trafigura has filed for permission to build a terminal in Texas which can be used by the largest oil tanker vessels. The project will facilitate the growing export of US crude oil.
Shipping Trainees - Clipper
Research analyst - Navigare Capital
Director for Lederne Søfart
Operations Manager in Ultrabulk
Shipping Trainee - TORM
NORDEN is expanding and looking for the traders of tomorrow
Operations Manager - Hafnia Management
