News on US.
Four shipping companies carrying oil from Venezuela are hit with sanctions by the US. More than 40 vessels in total are affected by sanctions, writes Reuters.
The US exported 1.4 million tons soybeans to China in January, the highest level since the trade war began, writes shipping association Bimco in an analysis.
The WTO has once again lowered its expectations for global growth. Next week the IMF will present its projections, which the IMF head indicates will also be lower. New customs tariffs between the US and China as well as uncertainty surrounding Brexit are key factors.
The much-anticipated meeting between US President Donald Trump and China's President Xi Jinping to sign an agreement to end their trade dispute will likely be pushed back to April at the earliest, sources say.
The acting chairman of the US Federal Maritime Commission has now been given the job permanently by President Donald Trump.
Den er der ikke endnu, men efter et dyk omkring nytår er olieprisen ved at krydse 65 dollars per tønde og har dermed retning mod de 71 dollars, som den gennemsnitlige pris lød på sidste år. Godt for offshoreinvesteringerne. Dyrt for shipping.
The US should support the sulfur regulations and implement them in a timely manner, says the powerful US oil lobby in a letter to the White House, thus increasing its pressure on President Donald Trump.
Ahead of expected trade talks next month, China has made efforts to end the trade dispute with the US, yet the country is also unsure it has done enough.
Brazil's export of soy beans to China has increased due to the trade war between China and the US. But Brazil is prepared if China calls off its tariffs on US soy beans, says agriculture minister.
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.
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