Marine Link
Thursday, March 28, 2024
SUBSCRIBE

Capital Economics News

09 Jan 2024

US Trade Deficit Shrinks on Falling Imports

© sheilaf2002 / Adobe Stock

The U.S. trade deficit unexpectedly narrowed in November as imports of consumer goods fell to a one-year low amid slowing domestic demand, a trend that, if it persists in December, could result in trade having no impact on economic growth in the fourth quarter.The report from the Commerce Department on Tuesday also showed exports declined in November amid cooling demand overseas. Demand is slowing both in the United States and abroad following hefty interest rate increases by global central banks since 2022 to tackle rampant inflation.The Federal Reserve's rate hiking cycle has likely ended…

13 Jul 2022

China's Exports Rebound, But Global Risks Darken Trade Outlook

© Aris Suwanmalee / Adobe Stock

China's exports rose at the fastest pace in five months in June as factories revved up after the lifting of COVID lockowns, but a sharp slowdown in imports, fresh virus flare-ups and a darkening global outlook pointed to a bumpy road ahead for the economy.Analysts say the rebound in exports reflected an easing of supply chain disruptions and port congestion that hammered the world's second-largest economy in spring when the government rolled out widespread lockdowns.Outbound shipments in June rose 17.9% from a year earlier…

25 Nov 2021

Baltic Dry Index Rises as Smaller Vessels Lend Support

© Alexey Lesik / Adobe Stock

The Baltic Exchange's dry bulk sea freight index rose on Thursday, buoyed by gains for panamax and supramax vessels that countered a dip in rates for the larger capesize segment.The overall index, which factors in rates for capesize, panamax and supramax vessels, gained 24 points, or 1%, to 2,678 points.The capesize index shed 46 points, or 1.2%, to 3,776.Average daily earnings for capesizes, which transport 150,000-tonne cargoes such as iron ore and coal, fell $390 to $24,355.Despite a decrease in Brazil-China iron ore trade volumes…

07 Sep 2021

China's August Exports Surprisingly Strong

© aerial-drone / Adobe Stock

China’s exports unexpectedly grew at a faster pace in August thanks to solid global demand, helping take some of the pressure off the world’s second-biggest economy as it navigates its way through headwinds from several fronts.The Asian giant staged an impressive recovery from a coronavirus-battered slump, but economic momentum has weakened recently due to the Delta variant-driven COVID-19 outbreaks, high raw material prices, slowing factory activity, tighter measures to tame…

11 Jun 2021

LNG Primed for Strong Growth on Asian Demand

LNG Tanker - Credit: alexyz3d/AdobeStock

Liquefied natural gas (LNG) prices are poised for more gains as gas-hungry China guzzles cargoes to feed a rebound in economic growth while the easing of coronavirus-induced restrictions restores industrial demand in India.Higher oil and coal prices have also helped lift global gas prices with spot Asian LNG prices <LNG-AS> doubling in just three months."We believe this has been driven by a tightening of Asian LNG balances led by strong generation demand in southern China at the same time that South Korea reached peak nuclear maintenance…

07 Jun 2021

China's Imports Grow at Fastest Pace in a Decade

© Naypong Studio / Adobe Stock

China's imports grew at their fastest pace in 10 years in May, fueled by surging demand for raw materials, although export growth slowed more than expected amid disruptions caused by COVID-19 cases at the country's major southern ports.While a brisk recovery in developed markets has bolstered demand for Chinese products, a global semiconductor shortage, higher raw material and freight costs, logistics bottlenecks and a strengthening yuan have dimmed the outlook for the world's largest exporting nation.China's exports in dollar terms in May grew 27.9% from a year earlier…

19 Oct 2020

Japan Export Decline Slows Dramatically

© Parilov / Adobe Stock

Japan’s exports fell in September at the slowest pace in seven months as U.S.-bound vehicle shipments rose from lows brought about by the COVID-19 pandemic, indicating easing pressure on the world’s third-largest economy.Exports fell 4.9% in September compared with the same month a year earlier, more than the 2.4% economists forecast in a Reuters poll. Still, the pace followed six months of double-digit decline, including a 14.8% drop in August.Fewer exports of iron to Taiwan and ships to Panama left September marking the 22nd consecutive month of export decline…

03 Apr 2020

Oil Posts Biggest One-day Gain After Trump Touts Saudi-Russia Deal

© Pavel Ignatov / Adobe Stock

Crude prices posted their biggest-one day gains on record on Thursday after President Donald Trump said he expects Russia and Saudi Arabia to announce a major oil production cut, and Saudi state media said the kingdom was calling an emergency meeting of producers to deal with the market turmoil.Trump said he had spoken to Saudi Crown Prince Mohammed bin Salman, and expects Saudi Arabia and Russia to cut oil output by as much as 10 million to 15 million barrels, as the two countries signaled willingness to make a deal.Trump did not specify barrels per day (bpd)…

01 Apr 2020

China's Ports Brace for Second Hit as Virus Spread Wipes Out Exports

© lotusjeremy / Adobe Stock

China's ports and shipping firms are bracing for a second wave of supply chain disruptions that may be deeper and more prolonged than during the country's coronavirus lockdown as the global spread of the virus chokes off international demand.With Beijing reporting only sporadic domestic transmission of the coronavirus since March, workers have been allowed to return to posts, factories are restarting and ports are rushing to clear a backlog of cargoes.But with virus outbreaks now overwhelming healthcare systems and shutting logistics channels in other major economies…

06 Feb 2020

US Trade Deficit Narrows for First Time in Six Years

©  Mariakray / Adobe Stock

The U.S. trade deficit fell for the first time in six years in 2019 as the White House’s trade war with China curbed the import bill, keeping the economy on a moderate growth path despite a slowdown in consumer spending and weak business investment.The report from the Commerce Department on Wednesday also showed the Trump administration’s “America First” agenda decreased the flow of goods last year, with exports posting their first decline since 2016. President Donald Trump, who has dubbed himself “the tariff man…

24 Jul 2019

Baltic Index Falls on Sliding Capesize Rates

file image (Port of Portland, UK)

The Baltic Exchange's main sea freight index fell for a second straight session on Wednesday to its biggest one-day decline in nearly six months, as rates for capesize vessels fell after a strong run.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, fell 7%, or 151 points, to 2,014 points, its biggest one-day drop since January 31. The index has still more than tripled since February, mainly driven by strong demand for vessels that ship iron ore from…

08 Jun 2018

China's Export Growth Steady, Import Growth Faster

© zhu difeng / Adobe Stock

China maintained solid export growth of 12.6 percent in May, slightly slower than in April, but still providing good news for Beijing's policymakers as they deal with tough trade negotiations with Washington.Imports also rose more than anticipated in May and at the fastest pace since January, with the data coming at a time when China has pledged to its trade partners - including the United States - that steps would be taken to increase imports.China, the world's largest exporter…

08 May 2018

China'a April Exports Stronger than Expected

© anekoho / Adobe Stock

China's exports rebounded more strongly than expected in April after a surprise drop the previous month, suggesting global demand remains relatively resilient and providing a cushion to the economy amid a heated trade dispute with the United States.Imports in April also grew more robustly than anticipated, signalling China's domestic demand is holding up well, good news for policymakers looking to soften the blow from any trade shocks.China's April exports rose 12.9 percent from a year earlier…

09 Feb 2018

Oil Slides toward Weekly Loss on Excess Supply Worries

© Klodien / Adobe Stock

Oil prices fell for a sixth day on Friday, and were on track for their biggest weekly loss in 10 months, as record-high U.S. crude output added to concerns about a sharp rise in global supplies. The drop came amid a rout in global equity markets sparked by inflation fears. Brent futures were down 81 cents at $64 a barrel by 1502 GMT. Earlier in the day, they fell as far as $63.70, the lowest since Dec. 20. U.S. West Texas Intermediate (WTI) crude was down 80 cents at $60.35 a barrel, after falling to as low as $60.07, its lowest since Dec. 29.

11 Dec 2015

Oil Skidding Toward 11-year Low

Oil prices extended their freefall on Friday, flirting with 11-year lows, after the International Energy Agency (IEA) warned that global oversupply of crude could worsen next year. Brent and U.S. crude's West Texas Intermediate (WTI) futures fell as much as 5 percent on the day and 12 percent on the week as mild pre-winter weather and a plummeting U.S. stock market added to the toll on oil prices. Oil traders and analysts alike have been perplexed by oil's decline since the Dec. 4 meeting of the Organization of the Petroleum Exporting Countries which all but abandoned price support for crude by removing OPEC's production ceiling in an oversupplied market. "It's very tough to find a cause to get bullish here," said Peter Donovan, broker at Liquidity Energy in New York.

05 Aug 2015

Expanded Suez Canal Opening to High Hopes, Some Doubts

Photo: Suez Canal Authority

Egypt will open an expansion to the Suez Canal to great fanfare on Thursday, the centrepiece of President Abdel Fattah al-Sisi's plans to revitalise the country's economy after years of damaging political turmoil. Some analysts and economists say, however, that the mega-project may fail to meet the great expectations. The Suez extension was announced by Sisi a year ago and billed as a major national accomplishment on a par with President Gamal Abdel Nasser's nationalisation of the Suez Canal in 1956 and the building of the Aswan Dam.

14 Jul 2015

Oil Analysts, Experts Weigh In On Iran Nuclear Deal

Iran, the United States and five other major powers reached an agreement to restrain the Iranian nuclear program in exchange for relief from economic sanctions. Q: Can you outline the timeline from here? "The P5+1 will now work on a UN resolution to endorse the deal; separately, domestic legislatures and other processes will review text, in the U.S, that includes a 60-day review period; 90 days from today the deal goes into implementation mode in which Iran does a number of nuke steps, and the P5+1 establish legal conditions for relief, but it doesn't get activated until the IAEA (International Atomic Energy Agency) issues a report verifying Iran did what it said it would do, which Secretary (of State John) Kerry put at about 6 months, and which I think is about right, as noted before.

17 Jun 2013

2013 ICOMIA/IFBSO Congress News

The 2013 ICOMIA/IFBSO Congress was held in London, United Kingdom from June 11-14,  2013 and was hosted and organized by the British Marine Federation (BMF) at Devonport House, located in London’s exclusive Royal Greenwich, a World Heritage Site. The first two days of Congress consisted of various committee meetings including the first gathering of ICOMIA’s new committees: "Grow Boating," which examines current campaigns dedicated to growing recreational boating globally and the "Exporters Committee," which provides members a forum to share knowledge on export markets, discuss import regulations and exchange information on overseas boat/trade show experiences.