27/12/2010 Link: http://www.hellenicshippingnews.com/new/2010/12/27/opec-does-not-interfere-in-oil-prices-uae-minister/
OPEC does not interfere in oil prices: UAE Minister The Organisation of Petroleum Exporting Countries (OPEC) does not interfere with the price movement in crude oil prices and its members were committed to production quotas, the UAE Energy Minister Mohammed bin Dha’en Al-Hamili has said.
27/12/2010 Link: http://www.hellenicshippingnews.com/new/2010/12/27/chinas-wen-confident-on-inflation-after-rate-rise-2/
China’s Wen: confident on inflation after rate rise China’s government will be able to keep inflation in check, Premier Wen Jiabao said on Sunday, a day after the central bank raised interest rates, and he pledged to speed up efforts to rein in house price surges.
27/12/2010 Link: http://www.hellenicshippingnews.com/new/2010/12/27/china-to-increase-coal-imports-from-russia/
China to increase coal imports from Russia Interfax citing Mr Sergei Razov Russia ambassador to China as saying that China will boost coal imports from Russia to 15 million tonnes a year in the next five years.
27/12/2010 Link: http://www.hellenicshippingnews.com/new/2010/12/27/spore-smes-expanding-overseas-likely-to-rise-30-this-year/
S’pore SMEs expanding overseas likely to rise 30% this year Singapore companies are wetting their toes in a brave, new market – Africa. While the vast continent presents a tremendous growth opportunity, experts warn that it comes with its unique challenges.
27/12/2010 Link: http://www.hellenicshippingnews.com/new/2010/12/27/zim-charters-teu-4250-vessel/
Zim Integrated Shipping Services (ZISS),Israel’s flag carrier has decided to charter the Rickmers group TEU 4,250 vessel “SAMUEL RICKMERS”. According to industry sources the vessel to be renamed “ZIM TEXAS” and as yet unassigned. The Jiangsu-Yangzijiang shipyard-built vessel is the 21st built in the Jiangsu 4250 series.
27/12/2010 Link: http://www.hellenicshippingnews.com/new/2010/12/27/feds-strategy-failed-to-work-as-planned/
How’s that QE2 working out for you? To answer the question, we first have to establish the goals of a second round of quantitative easing as laid out by Federal Reserve Chairman Ben Bernanke (above). The Fed’s purchases of US Treasuries “affect the economy primarily by lowering interest rates on securities of longer maturities,” Bernanke explained in a November 19 speech in Frankfurt. Lower rates equate to more “accommodative financial conditions,” he said.
27/12/2010 Link: http://www.hellenicshippingnews.com/new/2010/12/27/how-to-save-the-eurozone/
After the Greek and Irish crises and the spread of financial contagion to Portugal, Spain, and possibly even Italy, the Eurozone is now in a serious crisis. There are three possible scenarios: “muddle through,” based on the current approach of “lend and pray”; “break-up,” with disorderly debt restructurings and possible exit of weaker members; and “greater integration,” implying some form of fiscal union.
27/12/2010 Link: http://www.hellenicshippingnews.com/new/2010/12/27/saudi-oil-min-no-need-for-opec-to-meet-again-before-june/
Saudi Oil Min: No Need For OPEC To Meet Again Before June Saudi Oil Minister Ali al-Naimi reiterated Friday that the Organization of the Petroleum Exporting Countries doesn’t need to meet again before June.
27/12/2010 Link: http://www.hellenicshippingnews.com/new/2010/12/27/gms-week-52-merry-christmas-and-happy-new-year/
GMS Week 52 Merry Christmas and Happy New Year! With the holiday season in full swing and most in the shipping community haveing diverted their attentions towards more important issues, such as spending time with family, friends and loved ones, the recycling industry went through a bit of a slow spell this week as compared to recent weeks.
27/12/2010 Link: http://www.hellenicshippingnews.com/new/2010/12/27/somali-piracy-flourishes-into-lucrative-business/
Somali piracy flourishes into lucrative business Somali pirates have set up a sophisticated network of agents to negotiate and launder ransom money that has turned the seizing of ships into a lucrative business, experts say.