Oil Clogging U.S. Railways Seen Limiting Exports of Grain

 

September 19, 2014

An undated handout photograph shows Nippon Yusen K.K.'s dry-bulk ship. Source: Nippon Yusen K.K. via Bloomberg

Shipping companies probably will miss out on exports from the record U.S. grain harvest because the shale-oil boom is clogging up rail lines to ports.

While the U.S. will reap the most crops ever, fourth-quarter export cargoes will be 15 percent lower than last year, according to RS Platou Markets AS, a Norwegian bank specialized in shipping. Rates for Panamaxes, the most commonly used vessels for grains, averaged $7,574 a day this year, headed for the lowest level since at least 1999, Baltic Exchange data show.

The U.S. shale-oil boom means energy shipments are dominating rail

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China’s Rongsheng Overdue on $43 Million in Loans

By Clement Tan and Joshua FellmanAug 29, 2014 9:31 PM GMT+0200

China Rongsheng Heavy Industries Group Holdings Ltd. (1101), the private Chinese shipbuilder whose woes made it a symbol of the country’s credit binge, remains overdue on 262 million yuan ($43 million) of bank loans after making late payments on its debt last month.

The company was overdue on principal and interest payments on 8.57 billion yuan of bank loans on June 30, according to aHong Kong stock exchange filing yesterday. In July, the shipbuilder made full interest payments on 8.3 billion yuan of those borrowings, it said in the filing.

Banks haven’t yet taken any action to enforce the loan agreements and demand immediate repayment, Rongsheng said. The company said it has also received

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Vietnam Shipping Report Q4 2014 - New Market Report

 

 

Vietnam Shipping Report Q4 2014 - New Market Report

 

Fast Market Research recommends "Vietnam Shipping Report  Q4 2014" from Business Monitor International, now available

Boston, MA -- (ReleaseWire) -- 09/12/2014 -- Latest GDP figures show that  the Vietnamese economy grew by 5.0% year-on-year (y-o-y) in Q1 2014, and we  believe that our 2014 real GDP growth forecast of 5.9% remains in sight. Indeed,  we believe that increased macroeconomic stability, combined with pro-growth  policies will help the economy accelerate from 2013 levels, which will be  welcome news for the country's shipping sector. Key downside risks to this view  include a faster-than-anticipated slowdown in China, as well as the stalling of  the country's reform drive.
We believe that government policies aimed at  promoting balanced economic

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Market Closes Higher on Hopes for Fed’s Next Move

Market Closes Higher on Hopes for Fed’s Next Move

The stock market moved broadly higher on Tuesday as investors appeared optimistic about the outcome of the Federal Reserve’s policy-making meeting and the prospect for interest rates.

All 10 industry sectors in the Standard & Poor’s 500-stock index rose, led by health care, utilities and energy companies.

“The economy continues to improve in the U.S., and there’s still an accommodative Fed,” said Brad Sorensen, director of market and sector research at the Schwab Center for Financial Research. “We think the bull market has further to run.”

The Fed has held a crucial short-term interest rate close to zero for over five years, making it

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Canadian ship owners warn EU free-trade deal threatens jobsAdd to ...

 

 

Canadian ship owners and their crews say Ottawa negotiated a lopsided trade deal with Europe that could eventually put thousands of jobs at risk.

Under the free-trade agreement, key pieces of the highly protected Great Lakes and the St. Lawrence River shipping business will be opened up to foreign competition for the first time, with no reciprocal access to the European market.