China's trade surplus topped $1 trillion for the first time as manufacturers seeking to avoid President Donald Trump's tariffs shipped more to non-U.S. markets in November, with exports to Europe, Australia and Southeast Asia surging.Shipments to the United States dropped by close to one-third from the same month a year before."The tariff cuts agreed under the U.S.
The dollar surged on Monday as soaring oil prices sent investors scrambling for cash on worries that a protracted Middle East war could severely disrupt energy supplies and hurt global growth.Against the surging greenback, the euro EUR= and sterling GBP= were down roughly 1% in Asia, while the Aussie AUD= and even the safe-haven Swiss franc CHF= similarly tumbled, as the dollar proved king."The U.
Oil prices rose 3% on Wednesday as the U.S.-Israeli war on Iran disrupted Middle East supplies, but the pace of gains slowed from past sessions after President Donald Trump suggested the U.S. Navy could escort vessels through the Strait of Hormuz.Brent LCOc1 rose $2.67, or 3.3%, to $84.07 a barrel by 0659 GMT, after closing on Tuesday at its highest since January 2025.U.S.
European financial markets are under strain as the U.S.-Israeli war on Iran revives concerns about an energy supply shock exacerbating inflation.ING says the euro zone is the most exposed major economy to the conflict, making the region, which has benefited from investor diversification out of U.S. assets, vulnerable to setbacks.
Brent rose more than $3 on Tuesday for a third day of gains as the widening U.S.-Israeli conflict with Iran and threats to shipping via the Strait of Hormuz heightened fears of supply disruptions from the key Middle East producing region.Brent crude futures LCOc1 were at $80.89 a barrel, up $3.15, or 4.1%, by 0745 GMT. On Monday, the contract surged to as high as $82.
There are a few stories that I often tell when the subject of leadership in disasters is discussed. I figured I’d put them down on paper so I can stop repeating myself.It was pre OPA90, a single-skin tanker had run over a rock in the Port of New Jersey. It put a hole in the bottom
Stena Line has invested millions in extensive refurbishment and modernization of the Stena Germanica and Stena Scandinavica ferries on the Gothenburg–Kiel route. The renovation includes restaurant and bar areas as well as outdoor decks ahead of the com-ing travel season.Stena Line has carried out an extensive modernisation of the Stena Germanica and Stena Scandinavica ferries that operate on the
The Global Centre for Maritime Decarbonisation (GCMD), AIM Horizon Investments, and their partners have announced the successful closing of the Fund for Energy Efficiency Technologies (FEET), securing total commitments of up to $35 million, exceeding its initial target.As the world’s first fund for vessel retrofits leveraging a pay-as-you-save repayment mechanism
Tanker company DHT Holdings, Inc. has entered into a $308.4 million senior secured credit facility for the post-delivery financing of the company’s four newbuildings.The vessels are currently under construction at Hyundai Samho Heavy Industries and Hanwha Ocean, in South Korea and are scheduled for delivery during the first half of 2026.
“You cannot be a leader if you don’t know what is going on,” says Rik van Hemmen, President of marine consulting firm Martin & Ottaway.van Hemmen, writing in the June issue of Maritime Reporter magazine, recounts of some of his experiences in oil spill response to demonstrate that it’s a truth that is not always recognized.