Shipping industry may confront another deluge of overcapacity

Shipping industry may confront another deluge of overcapacity

 
Friday, 04 April 2014 | 00:00

PTI reported that shipping companies across the globe have been struggling with oversupply of ships and little demand in the last 5 years. However, a slight pick up on the back of recovery in global trade and economy recently have lifted hopes and freight rates in the shipping industry, but this could soon come under the cloud from rising new ship orders. Over the last 6 months, there has been a spike in demand for new ships, both in the bulk as well as container shipping industry. This was led by enthusiastic shipping companies in Greece and Norway and depressed shipping vessel

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Kuwait's crude oil exports to China at 75,000 bpd

 

Friday, 28 March 2014 | 16:00
 
HSN

 

Kuwait's crude oil exports to China stood at 287, 000 tons in February, equivalent to around 75,000 barrels per day (bpd), the latest government data showed. Shipments fell 30.1 percent from a year earlier, according to data released by the General Administration of Customs.

China's overall imports of crude oil rose 10.9 percent in February on the year to 23.05 million ton (6.04 million bpd).

Saudi Arabia remained China's top supplier last month, with its shipments increasing 8.0 percent to 1.13 million bpd, followed by Angola with 974,000 bpd, up 40.7 percent. Russia became third with imports from the country jumping 34.4 percent to 713,000 bpd. Iran ranked fourth and Iraq fifth.

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China May Halt Corn Imports From U.S. on GMO Cargoes, Yigu Says

 

Buyers in China, the second-biggest corn consumer, may halt purchases from the U.S. as quarantine officials reject more shipments with a non-approved genetically modified variety,said Yigu Information Consulting Ltd.

Inspectors this week stopped two bulk-carriers and smaller-sized container ships from unloading cargoes containing the insect-resistant MIR 162 grain, said Feng Lichen, the general manager of the researcher based in the northern port city of Dalian.

“It raises the question of whether we will see any more U.S. corn imports at all in the next few months,” said Feng, citing talks with traders in China. This will weigh on corn prices in the U.S. and force Chinese buyers to buy more local supplies, he said.

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Wheat Falls Most in Two Weeks as Rain Aids U.S. Crops

 

 

Wheat futures fell the most in four weeks on speculation that favorable weather will boost crop prospects in Australia and the U.S., the world’s top exporter. Corn and soybeans closed unchanged.

Parts of Oklahoma, Texas and Kansas, the top U.S. wheat growers, got as much as 0.75 inch (1.9 centimeters) of rainyesterday, data from World Ag Weather show. Areas in eastern Australia received as much as 2 centimeters this week, boosting soil moisture before planting starts next month, a farm group said.

“The U.S. crops are getting some beneficial moisture, and wheat only needs a little rain to produce a good crop,” Shawn McCambridge, the senior grain analyst for

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Record Argentine soy crop to pump exports despite hoarding

Record Argentine soy crop to pump exports despite hoarding

Wednesday, 26 March 2014 | 10:00

Argentina will put downward pressure on world food prices by exporting more soy this year, even as growers hedge against the country's dysfunctional financial system by hoarding a bigger chunk of what is expected to be a record high crop.
The biggest harvest ever seen on the Pampas farm belt started last week, setting the stage for increased exports from the world's No. 3 soybean supplier. The size of the expected crop increase will at the same time allow growers to stockpile a larger percentage of the crop than last year.
Farmers are hanging onto their soybeans to use as a unit of savings preferable to Argentina's anemic peso, which has

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