Host Newsroom 10.12.2017
The Wall Street Journal: Lessons From the Sorry History of Steel Protectionism
So far the Trump administration’s process for evaluating how to help the U.S. steel industry has been remarkably responsible. On the campaign trail, Donald Trump promised a smorgasbord of protectionist measures. Read More.
Fast Markets: Pricing Notice: Metal Bulletin will Launch New Arbitrage Tool for Aluminum from LME-Listed Warehouses in Asia into US Midwest
Metal Bulletin will introduce in December a new arbitrage calculator tool for the shipment of aluminium from London Metal Exchange-bonded warehouses in Asia to the US Midwest. The tool aims to provide a monthly indication of the differential between the all-in cost to deliver aluminium purchased via LME clearing from registered warehouses in Asia against the current US Midwest premium and LME cash cost of the metal. Read More.
Oil and Gas Investor: U.S. Crude Exports Spike to a Record
U.S. exports of crude oil have leapt to a new high of nearly two million barrels per day (MMbbl/d), a landmark figure for a country that banned most exports just two years ago. Read More.
Bloomberg: Zinc Prices Have Rallied So Much Even Miners Are Complaining
Zinc’s dramatic surge to the highest in a decade might boost profits in the short term but isn’t all good news for producers, according to Vedanta Resources Plc. Buyers are struggling to make money at current levels after prices more than doubled since the start of 2016, Deshnee Naidoo, the chief executive officer of the company’s Vedanta Zinc International unit, said in an interview. Read More.
Reuters: Kobe Steel Crisis Deepens as More Data Tampering Revealed; Shares Tumble
Japan's Kobe Steel Ltd (5406.T) plunged deeper into crisis on Wednesday as fresh revelations showed data fabrication at the steelmaker was more widespread than initially thought, heightening a safety scare along the global supply chain. Read More.
FREIGHT & LOGISTICS NEWS
The Wall Street Journal: CSX, Shippers Clash Over Service Problems
CSX Corp. Chief Executive Hunter Harrison says his railway has never run more smoothly. Some of his largest customers disagree. Read More.
American Shipper: Port of Houston Could Lower Tariff Charges Due to Hurricane Harvey
A meeting of the Port Commission of the Port of Houston Authority on Wednesday revealed that Executive Director Roger Guenther has the authority to lower tariff charges, according to the Houston Chronicle. Read More.
Bloomberg: Seafarers Fret Over New Assault on Jones Act in Wake of Storms
"The Jones Act is pretty much the only reason I have a job," said Brett Cowan, a mariner from California attending training at the International Order of Masters, Mates & Pilots who has been working on boats since he was 13. Changing the act, he said, "would put a lot of us out of work." Read More.
Hellenic Shipping News: Dry Bulk Rates' Rebound Triggers Strong Demand for Older Bulker Tonnage
It seems that the recent rebound of dry bulk freight rates, which has come as a result of improving fundamentals (i.e. lower tonnage growth and improving demand), is already having a significant effect on the secondhand ships’ market. Read More.
- < Previous
- Next >