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SHANGHAI: Shanghai Shipping Exchange, based in China's busiest port, intends to set up a container-shipping derivatives market by year-end as the city tries to challenge London as a global center for shipping finance. The forward freight agreements, or FFAs, which help guard against fluctuations in shipping rates, will be targeted at small- and medium-si...
China COSCO Holdings Co and nine other shipping firms are planning to increase rates for hauling containers to Asia from the US in a bid to stem losses on transpacific routes. The new rates are expected to be effective from April 1 this year and are part of the Westbound Transpacific Stabilization Agreement (WTSA). Under the plan, dry cargo rates would go...
SYDNEY: Woodside Petroleum Ltd remains in talks to sell PetroChina Co liquefied natural gas from the $30 billion Browse project off Australia, after an initial supply agreement lapsed, Chief Executive Officer Don Voelte said. Australia's second-largest oil and gas producer was also contacted by as many as five other potential buyers when the PetroChina a...
BEIJING: The United States has misapplied its own rules by taking action against imports from China, including the newest duties against Chinese steel pipes used in transporting corrosive liquids and gas, China's Ministry of Commerce said on Thursday. The United States on Wednesday imposed preliminary duties ranging from 11 to 13 percent on steel pipe fr...
SHANGHAI: McDonald's on Wednesday allowed coupons issued by its competitors to be used on its McWings or fried chicken wings, stepping up the fierce competition in the country's fast-food industry. Along with lowering the price of a pair of McWings from 7 yuan ($1) to 5 yuan, fried chicken wing coupons from any restaurant, including arch-rivals KFC and ...
SYDNEY: Australian business investment rebounded in the fourth quarter, a sign the economy is strengthening enough for the central bank to raise interest rates next week for the fourth time in six months. Capital spending advanced 5.5 percent from the previous quarter, when it fell a revised 5.2 percent, the Bureau of Statistics said in Sydney Thursday. T...
Jinan Iron and Steel Co Ltd (Jigang) will acquire Laiwu Steel Corporation (Laigang) through a share swap, paving the way for the backdoor listing of their controlling shareholder Shandong Iron and Steel Group Co Ltd (Shangang). According to statements the two steelmakers filed to the Shanghai Stock Exchange Wednesday, each Laigang share, valued at 12.29 y...
HONG KONG: Economic growth in the Special Administrative Region (SAR) beat estimates in the fourth quarter and Financial Secretary John Tsang forecast an expansion of as much as 5 percent this year as he moved to counter the risk of a real-estate bubble. Gross domestic product (GDP) rose a seasonally adjusted 2.3 percent from the previous three months, Ts...
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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