US billion-dollar tariffs aimed at EU members come into force
Tariff hikes totaling more than USD 7.5 billion against a series of EU member states come into force Friday.
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Tariff hikes totaling more than USD 7.5 billion against a series of EU member states come into force Friday.
The US government has warned Cosco-owned Dalian Tankers "very heavily" against turning off the AIS systems on its ships. Dalian Tankers denies having turned off the transponders.
One third of Dalian Tankers' fleet have turned off their AIS systems after the company was struck by US sanctions.
US sanctions are a key driver boosting VLCC rates, writes shipbroker Clarksons Platou. The firm expects to see daily rates, which have now surpassed USD 100,000 per day, continue to rise.
The Trump administration has announced new tariffs on European products for more than USD 7 billion annually starting on Oct. 18. The move comes in response to illegal government aid to Airbus.
Freight rates for the VLCC tanker vessels have climbed to USD 65,000 per day following the news of US sanctions imposed on Dalian Tankers, a subsidiary of China's Cosco. It could take some time for clarity to emerge, says Euronav.
According to Foreign Minister Wang Yi, China is willing to purchase more goods from the US.
Donald Trump used his speech at the UN Assembly in New York to repeat complaints about China and its trade practices shortly before negotiators from the two countries are set to meet in Washington.
China has just purchased its second large quantity of soybeans from the US, the largest volume since June.
VLCC and LPG rates will face pressure following Saturday's drone attack on two Saudi oil plants, assesses investment bank Cleaves Securities. The bank furthermore predicts that the strike may lead to "several attacks on shipping" in the area around the Strait of Hormuz.
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.
The US has allegedly uncovered a shipping network that the country says has helped Iran's Islamic Revolutionary Guard Corps move several million barrels of oil. This prompts the US to warn the industry against entering oil deals with Iran. The US also issues a special warning to the bunker sector.
The US offered the captain of vessel Grace 1/Adrian Darya-1 a bribe to help the Americans seize the ship, according to an email the Financial Times has access to.
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.
Soy bean exports from the US to China will not return to normal levels for a while, shows new analysis from shipping organization Bimco.
The trade war has not had the effect on Maersk that some observers feared. The tariffs mean nothing, but American consumer habits do, says CEO Søren Skou, who would like to meet with Donald Trump when he visits Denmark, where Maersk is headquartered.
US authorities have issued a warning about Iranian threats to vessels sailing in the Strait of Hormuz and the Persian Gulf. According to the US, several ships have experienced GPS interference.
If China ends import of US-made agricultural goods, it would be a big blow to the container sector and US importers, says Lars Jensen, CEO of Sea-Intelligence Consulting, in a comment.
Donald Trump escalates the trade war with China with announcement of new tariffs on USD 300 million worth of Chinese imports. The new taxes could go well above 25 percent, says the US president.
The US and China plan to meet again in September for trade talks, as the latest round of negotiations conclude with few signs of progress in the trade dispute between the two superpowers.
The two superpowers wrapped up a new round of trade talks without clear evidence of progress made toward ending the protracted trade dispute.
This week especially held stories involving the Strait of Hormuz, and most recently, the Danish government has declared its readiness to participate in a naval mission. Moreover, an investor has lost patience with a Danish shipbreaking yard, and logistics company Kuehne+Nagel said no to seafreight acquisitions.
President Donald Trump says that the US has destroyed a drone flying close to a US warship in the Strait of Hormuz. The drone was shot down the same day Iran announced it has seized a foreign tanker vessel.
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