The United States and China have signed a “phase one” economic and trade agreement that is expected to ease trade tensions between the largest two economies in the world. The deal was signed between the US President Donal Trump and China’s Vice President Liu He in Washington on January 15, 2020. “This agreement will begin…
The Suez Canal Authority has advised shipowners that discharging wash water from open-loop scrubbers during transit in the waterway is strictly forbidden. Based on the latest circular, the authority said that it “puts no conditions or restrictions on fuel oil or open-loop exhaust gas cleaning systems until the ratification of MARPOL Annex VI by the…
Monaco-based dry bulk shipping company Safe Bulkers has entered into sale and leaseback agreements with respect to eight vessels. As informed, the aggregate gross proceeds to the company in connection with the sale and leaseback arrangements are USD 158.3 million. Safe Bulkers intends to use the proceeds to refinance loan facilities of USD 105.2 million…
China’s Shanghai port has retained its rank as the world’s busiest container port, having handled 43.3 million twenty-foot equivalent units last year, Xinhua reports citing Shanghai Mayor Ying Yong. Shanghai has held its top-dog position for the past ten years and aims to lead the way in the future as part of China’s commitment to…
Imports fall 8.83 per cent, trade deficit shrinks to $11.25 billion India’s goods exports declined for the fifth straight month in December 2019 by 1.8 per cent (year-on-year) to $ 27.36 bn as key items such as petroleum, engineering goods and gems and jewellery continued to suffer due to low global demand. Imports were down…
Citing an analysis, he said one out of the four products being imported in India is under this category. Concerned over rise in imports in the ‘others’ category, Commerce and Industry Minister Piyush Goyal on Wednesday asked those importers to seek HSN or tariff code within 30 days from the foreign trade office, failing which…
China’s trade surplus with the United States narrowed last year as the world’s two biggest economies exchanged punitive tariffs in a bruising trade war, official data showed on Tuesday. The figures were released just a day before the US and China are expected to sign a “phase one” agreement that marks a de-escalation in their…
Danish tanker shipping company TORM has obtained a commitment for a total of USD 496 million from a syndicate of lenders to refinance its debt and bolster its capital structure. The company said the total amount is a combination of two separate term facilities and a revolving credit facility, which will be used to refinance…
Ecuadorian authorities have discovered eighty-eight parcels of cocaine on board a containership in Puerto Bolivar. As informed, the shipment was hidden in four black suitcases in a container aboard the 2,546 TEU Sealand Los Angeles. The Liberia-flagged ship arrived to Puerto Bolivar from Guayaquil and was en route to Balboa, Panama. According to the Ecuadorian…
Liu He will visit Washington on January 13-15 China’s Vice Premier Liu He, head of the country’s negotiation team in US-China trade talks, will sign a “Phase-1” deal in Washington next week, the commerce ministry said on Thursday. Liu will visit Washington on January 13-15, said Gao Feng, spokesman at the Commerce Ministry. Negotiating teams…