Recent News

Maersk Line orders seven container vessels from China

Reuters | March 27, 2015 | Liner Shipping

Danish shipping firm Maersk Line has signed an order for seven container vessels from COSCO Shipyard in China as the first step in a $15 billion investment programme over five years. Read More »

Asia-Europe container freight rates fall 5.5%

Reuters | March 27, 2015 | Liner Shipping

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 5.5 percent to $586 per 20-foot container (TEU) in the week ended on Friday, a source with access to data from the Shanghai Containerized Freight Index told Reuters. Read More »

Austrian finance minister sees crisis of confidence in Greece

Reuters | March 27, 2015 | International Trade

Greece’s international partners have lost trust in Greece, Austrian Finance Minister Hans Joerg Schelling said on Friday, underscoring that Athens needs to stick to conditions of its current rescue and saying a fresh debt haircut would do no good. Read More »

China Cosco dry bulk shipping losses reduced sharply this year

Reuters | March 27, 2015 | Liner Shipping

China Cosco said losses in its main dry bulk shipping business fell sharply in 2014 and its container shipping gross profit grew amid a still subdued global shipping market. Read More »

VLCC rates to stay flat as owners, charterers fight to give market direction

Reuters | March 27, 2015 | Energy | Maritime

ASIA-FREIGHT/:Asia Tankers-VLCC rates to stay flat as owners, charterers fight to give market direction Read More »

Apple plans China iPhone trade-in program with Foxconn

Reuters | March 26, 2015 | International Trade

Apple Inc plans to introduce a trade-in program for iPhones in China in association with the Foxconn Technology Group, Bloomberg reported, citing people familiar with the effort. Read More »

Schlumberger pleads guilty to violating US sanctions on Iran, Sudan

Reuters | March 26, 2015 | International Trade

The U.S. Justice Department said that a subsidiary of Schlumberger Oilfield Holdings had pleaded guilty to violating U.S. sanctions related to Iran and Sudan and would pay a $237.2 million fine. Read More »

SuperGroup buys out US license

Reuters | March 26, 2015 | International Trade

SuperGroup, the British company behind the Superdry fashion brand, has gained the exclusive rights to distribute its products in the U.S., Canada and Mexico, terminating the existing U.S. license by paying 22.3 million pounds ($33 million). Read More »

US questions China at WTO on banking technology restrictions

Reuters | March 26, 2015 | International Trade

The United States is concerned about China's restrictions on the use of foreign information technology equipment by the banking sector, according to a filing published by the World Trade Organization. Read More »

Permian Basin crude output at 2015 high in latest week

Reuters | March 26, 2015 | Energy | Discovery

Crude output in the Permian Basin rebounded close to record levels in the latest week as the biggest U.S. onshore oilfield extends gains after cold weather disrupted production and the number of rigs fell, data showed. Read More »

Ford to triple exports from India with new $1 billion plant

Reuters | March 26, 2015 | International Trade

Ford Motor Co plans to triple exports from India with a $1 billion plant that will be one of its most heavily automated in Asia, offsetting slower sales inside the country with a push to sell more local production abroad. Read More »

EU antitrust regulators to investigate ecommerce

Reuters | March 26, 2015 | International Trade

European Union regulators plan a year-long investigation into ecommerce to help remove barriers to cross-border trade in the 28-nation bloc, the EU's antitrust chief said. Read More »

Leaked Pacific trade pact draft shows investment carve-outs sought

Reuters | March 26, 2015 | International Trade

Australia's medicine subsidies, Canadian films and culture plus capital controls in Chile would be carved out from investment protection rules being negotiated in a Pacific trade pact, according to a draft text released by Wikileaks. Read More »

Half of China’s total trade to be settled in yuan by 2020

Reuters | March 26, 2015 | International Trade

Cross-border trade settlement denominated in China's yuan currency is expected to climb to over 50 percent of China's total trade by 2020, more than doubling the current level, Stuart Gulliver, HSBC's Group Chief Executive, said. Read More »

Another US ally, South Korea, seeks to join China-backed AIIB

Reuters | March 26, 2015 | International Trade

South Korea said it has decided to seek to be a founding member of the Asian Infrastructure Investment Bank (AIIB), another key U.S. ally joining the China-led institution despite Washington's misgivings. Read More »

China set to topple Germany as top UK pork importer

Reuters | March 26, 2015 | International Trade

China's love for all things pork could soon make the country the top importer of British pork, dethroning Germany, just four years after it opened its doors to pork imports from the UK. Read More »

Adidas to shift some production from Asia in quest for speed

Reuters | March 26, 2015 | International Trade

Adidas plans to speed up production and allow shoppers to customize more shoes and clothes, aiming to accelerate sales and profit growth over the next five years. Read More »

Singapore port authority denies Iceberg Research claims on Noble unit

Reuters | March 26, 2015 | Ports & Terminals

Singapore's port authority has denied allegations of misconduct made by Iceberg Research against a subsidiary of commodities trader Noble Group , which is taking legal action against the arcane research group. Read More »

Sri Lanka promises port project to resume after problems “sorted”

Reuters | March 26, 2015 | Ports & Terminals

China said that Sri Lanka's visiting president had promised work would resume on a controversial Chinese-backed port development in Colombo that his administration had earlier suspended. Read More »

Panama Canal sets sights on new $17 billion expansion project

Reuters | March 26, 2015 | Liner Shipping | Ports & Terminals

As it enters the final stretch of a massive expansion, the Panama Canal Authority is setting its sights on an even more ambitious project worth up to $17 billion that would allow it to handle the world's biggest ships. Read More »