DCA's Doyle: President Trump Supports Strong Infrastructure Projects
In an address to Western Dredging Association (WEDA) stakeholders, William P. Doyle, CEO & Executive Director Dredging Contractors of America told his audience: It all starts with dredging. Good Morning, and thank you for inviting me here today to open-up the conference. This is my first time addressing the Western Dredging Association (WEDA), and I am honored to be here. It all starts with dredging, and President Donald J. Trump is backing it up with critical legislative measures. As I will address later in my remarks– the U.S.
Matson Christens First Aloha Class Vessel 'Daniel K. Inouye'
Largest Containership Built in U.S. Will Serve Hawaii. Matson, a U.S. flag carrier in the Pacific, and Philly Shipyard, Inc. (PSI), the wholly-owned U.S. subsidiary of Philly Shipyard ASA (Oslo: PHLY) christened the largest containership ever built in the United States in a ceremony at the Philly Shipyard on Saturday, June 30. The new vessel is named 'Daniel K. Inouye' in honor of Hawaii's late senior U.S. Senator, who was a longstanding supporter of the U.S. maritime industry and its important role in supporting Hawaii's economy.
U.S.-China Trade Battle Heats Up
Dueling tariffs raise fears of long A U.S.-China trade fight resulting in duties on $34 billion worth of each other's imports was seen dragging on for a potentially prolonged period, as Washington and Beijing flexed their muscles with no sign of negotiations to ease tensions.Friday marked the start of the U.S. duties that were promptly met with retribution by China, as Beijing accused the United States of triggering the "largest-scale trade war."The escalating fight between the…
US LNG Projects Buoyed by China Import Talks
China's interest in reducing its trade surplus with United States through increased energy imports could advance plans for U.S. liquefied natural gas (LNG) plants, said energy executives involved in developing new facilities.The White House and China on Saturday said a U.S. trade team would travel to China to explore new energy and agricultural deals. The joint communique lowered trade tensions, lifting stock markets in Asia and the United States on Monday.There are over two dozen proposed U.S.
China's Export Growth Steady, Import Growth Faster
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…
MACC is Definitely Back
Even Mother Nature Can’t Dent the Enthusiasm at this Year’s MACC.Curtis Bay, MD: On the morning after the Baltimore, MD area received a record 3.5 inches of torrential rain in just 90 minutes, this year’s Multi-Agency Craft Conference (MACC) kicked off without a hitch at the United States Coast Guard Yard in Curtis Bay, MD. That may sound easy, but for those flying in Tuesday afternoon (or like myself, driving in through DC at exactly the moment that the George Washington Parkway flooded badly near the DCA Airport)…
Top U.S. Trade Official Sees NAFTA 'breakthrough' in Days
U.S. Trade Representative Robert Lighthizer on Thursday said he hopes there will be a breakthrough in NAFTA trade talks in the next few days, as the U.S continues discussions over the North American Free Trade Agreement.Lighthizer made the remarks at White House meeting of President Trump's Cabinet. Trump told Lighthizer he was in no rush for a resolution over the pact: "We’re either going to do a fair NAFTA for us or we're not going to do NAFTA at all."Reporting by Steve Holland
Trump Bets on New European LNG Terminals
U.S. President Donald Trump expects the European Union to fund 9 to 11 liquefied natural gas (LNG) ports to absorb "vastly" more shipments from the United States but current EU investment in new projects will only help open small markets.In a White House press conference with Italian Prime Minister Giuseppe Conte late on Monday, Trump said part of the U.S.-EU trade talks sought to expand America's reach into the continent's gas markets which were awash in Russian supply."And we are already talking to the European Union about building anywhere from 9 to 11 ports…
White House Escalates China Trade Dispute in hopes for Early Solution: Kemp
The United States has adopted an "escalate to negotiate" strategy towards China, threatening a dramatic hike in tariffs to try to force a resumption of trade talks while the U.S. economy remains strong and as elections approach in November.U.S. President Donald Trump has reportedly rejected a plan to levy tariffs of 10 percent on an additional $200 billion of imports from China and ordered aides to prepare a proposal for tariffs at the higher rate of 25 percent.The levies are…
Chinese Tariffs on LNG, Oil May Threaten US Energy Dominance
China's targeting of U.S. liquefied natural gas and crude oil exports opens a new front in the trade war between the two countries, at a time when the White House is trumpeting growing U.S. energy export prowess.China included LNG for the first time in its list of proposed tariffs on Friday, the same day that its biggest U.S. crude oil buyer, Sinopec, suspended U.S. crude oil imports due to the dispute, according to three sources familiar with the situation.On Friday, China announced retaliatory tariffs on $60 billion worth of U.S.
Beijing's South China Sea Building Boom Grows
At first glance from above it looks like any clean and neatly planned small town, complete with sports grounds, neat roads and large civic buildings. But the town is on Subi reef in the Spratlys archipelago of the hotly contested South China Sea and, regional security experts believe, could soon be home to China's first troops based in the maritime heart of Southeast Asia. Private sector data analysis reviewed by Reuters shows Subi, some 1,200 km (750 miles) from China's coast, is now home to nearly 400 individual buildings – far more than other Chinese islands.
U.S. Alarmed by Strike on Turkish Ship Delivering Wheat to Yemen
The United States said on Friday it was concerned about a Houthi missile strike on a Turkish vessel carrying wheat to Yemen this month and another attack on an oil tanker in the Red Sea. "The United States is alarmed by the Houthi missile strike against a Turkish cargo ship 70 miles off the coast of Yemen that was attempting to deliver 50,000 metric tons of wheat to Yemen’s Saleef port near Hudaydah," the White House said in a statement. "This proves yet again that missile proliferation in Yemen is a real threat to all countries and underscores the need to fully enforce United Nations Security Council Resolution 2216." Reporting by Doina Chiacu; Editing by Jeffrey Benkoe
Trump's Tariff Announcement on Track for This Week
U.S. President Donald Trump's announcement on steel and aluminum tariffs is on track to come by the end of this week, White House spokeswoman Sarah Sanders told reporters on Wednesday. Trump is also seeking to sign a presidential proclamation on Thursday in an effort to set his tariff plan in motion, Axios media outlet reported separately, citing two senior administration officials. Reporting by Susan Heavey
Steel, Aluminum Tariffs a 'Bad Idea' -Morgan Stanley CEO
Morgan Stanley's top executive said on Wednesday that potential tariffs on steel and aluminum that U.S. "The biggest issues this country faces are not trade deficits, they're fiscal deficits," Chief Executive Officer James Gorman told CNBC. Gorman said that imposing tariffs on a country or ally that the United States sells a lot of goods to is not the "best way to move forward." He added that there may be retaliation from other countries due to the tariffs. "You can't be unilateral with these things," he added.
Mexico Slaps Tariffs on Chinese Steel Pipe for 'Unfair' Pricing
Mexico's economy ministry said on Thursday it formally imposed anti-dumping duties on imports of carbon steel pipe from China after completing an investigation into "unfair" trade practices. The action came the same day U.S. President Donald Trump was set to announce tariffs on steel and aluminum imports to the United States in a bid to counter cheap imports, especially from China. Mexico's investigation of Chinese steel pipes predated Trump's tariff plan, beginning in December 2016 at the request of three companies and covering an analysis of the period from May 2013 to April 2016…
Trump: Some Country's Tariffs May 'Go Up or Down'
President Donald Trump said on Thursday he was sticking to his plans for 25 percent tariffs on steel imports and 10 percent on aluminum imports but would have flexibility to change those for specific countries. "I'm sticking with 10 and 25 (percent) initially. I'll have a right to go up or down, depending on the country, and I'll have a right to drop out countries or add countries," he told reporters at the beginning of a Cabinet meeting at the White House. Trump said he would be fair and flexible on the issue while protecting American workers. The president's plans have irritated U.S. allies and sparked concerns about a trade war. Reporting by Jeff Mason
Trump Proposes Boost to Maritime Infrastructure Investment
On February 12, President Trump released his highly anticipated infrastructure proposal, a “Legislative Outline for Rebuilding Infrastructure in America.” Unlike prior federal infrastructure development strategies, which rarely discussed the need for maritime infrastructure investment, the proposal places maritime infrastructure on equal footing with other surface transportation modes in terms of potential funding opportunities. The outline contains proposals that would create three new major programs…
Trump Tariffs: EU Seeks Permanent Exemption
European Union leaders called on Friday for a temporary exemption from U.S. import duties on steel and aluminium to be made permanent, saying they reserved the right to respond in an "in a proportionate manner" to protect the bloc's interests. The 40-day exemption granted by Washington was like U.S. President Donald Trump "putting a gun to our head", Belgium's prime minister complained. The EU's trade negotiator demanded that the United States drop "artificial deadlines". Trump said on Thursday he would suspend tariffs for the EU…
TOTE President Chiarello to Retire
TOTE Inc. president and CEO Anthony Chiarello will retire this summer after eight years at the helm and nearly four decades in the maritime industry. “As I look ahead to my 63rd birthday later this year, it is time for me to spend more time with my family and loved ones,” Chiarello said. TOTE said its parent company Saltchuk will make an announcement regarding Chiarello’s successor in due course. Chiarello began his career in stevedoring at ITO, now part of Ports America, in the…
Kudlow says U.S.-China Trade Talks Are Ongoing
There are ongoing talks on trade between the United States and China, White House economic adviser Larry Kudlow said on Friday but he did not specify at what level the negotiations were occurring. "There are ongoing talks. I don't want to name names, I don't want to put anyone on the spot, there are ongoing talks. They'll be back and forth, U.S. and Beijing, and so forth," Kudlow told Fox Business Network. However, in an earlier interview Bloomberg TV, Kudlow said discussions had not begun. Reporting by Makini Brice
White House Adviser says Trump Could Seek Coalition on China Trade
U.S. President Donald Trump may be open to forming an international coalition to grapple with Chinese trade issues, his top economic adviser said on Monday, adding that it remained unclear whether the proposed U.S. tariffs on China would eventually materialize. Asked whether Trump would consider seeking the support of European nations, Japan and others, White House National Economic Council Director Larry Kudlow told CNBC: "The president is amenable to that. He's not necessarily out soliciting support yet, but he is amenable." Reporting by Susan Heavey and Doina Chiacu
Trump Rails Against Oil Prices, OPEC Pushes Back
U.S. President Donald Trump accused OPEC on Friday of "artificially" boosting oil prices, drawing rebukes from some of the world's top energy exporters."Looks like OPEC is at it again. With record amounts of Oil all over the place, including the fully loaded ships at sea. Oil prices are artificially Very High! No good and will not be accepted!" Trump wrote on Twitter.It was unclear what triggered the tweet, Trump's first mention of OPEC on social media during his term.U.S. oil prices are near a three-year high…
China'a April Exports Stronger than Expected
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…