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Kuwaiti Caretaker Oil Minister Sheikh Ahmad Al-Abdullah Al-Sabah said Monday the oil market is well balanced despite that Libya's oil export has not returned to normal. Sheikh Ahmad said at the Fourth Asian Energy Minister's Roundtable meeting that the shortfall from Libya has been largely compensated as the Organization of Petroleum Exporting Countries...
The weekly average oil price of the Organization of Petroleum Exporting Countries (OPEC) reached 118.06 U.S. dollars per barrel last week, reaching a record high since the last week of July 2008, the Vienna-based cartel said Monday. OPEC's daily oil price reached 120.30 U.S. dollars a barrel Monday, hitting a new daily record since August 4, 2008. Afte...
The World Steel Association ( worldsteel) forecast on Monday that world steel demand will reach a new record of 1,441 million tons in 2012. The Association released its short-range outlook (SRO) for 2011 and 2012 in London. According to the SRO, steel use will increase by 5.9 percent to 1,359 million tons in 2011, following a 13.2- percent growth in 2010....
South Korean President Lee Myung- bak met Monday with a visiting U.S. senator over a two-way trade deal and security situations in the region, Lee's office said. Sen. Jim Webb, a Virginia Democrat who chairs the Senate Committee on Foreign Relations East Asian and Pacific Affairs Subcommittee, is on a three-day visit scheduled to end on Tuesday. Lee no...
BIGGER ships in greater numbers pour into the intra-Asia trades and threaten carrier profitability in an otherwise booming trade, says APL vice president Jason Wong. In an interview with London's International Freighting Weekly, the APL intra Asia-Australian trade chief said "high single-digit growth" was driven by regional free-trade agreements a...
Sales revenue of China's Huawei Technologies rose 24.2 percent year on year to 185.2 billion yuan (28.4 billion U.S. dollars) in 2010, the telecom equipment maker said in its annual report released on its website Monday. Huawei attributed the growth mainly to its fast-growing overseas markets, with sales there rising 33.8 percent year-on-year to 120.4 bi...
After the four-day visit to China of a high-level Philippine economic delegation that started Tuesday, trade between the Philippines and China as well as the flow of direct Chinese investments into the country are expected to grow. Public Works and Highways Secretary Rogelio Singson, a member of the delegation, said that during the visit, the Philippines ...
China's steel output growth will slow down to an average annual expansion of 6 percent over the next five years amid the country's efforts to restructure its economy, Li Shijun, chief analyst for the China Iron and Steel Association (CISA), said on Saturday. Li told attendees at a meeting in Shanghai on the steel industry's development strategies that ...
Port of Tallinn is the biggest port authority in Estonia and as far as both cargo and passenger traffic are taken into account, the biggest port on the shores of the Baltic Sea.
Qingdao Saint Voyage Logistics Inc. (SVL) is an Experienced International Shi
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