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Sandy Gas Shortages Drive Tanker Rates Higher

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Spot rates for tankers in the oil trade between the Caribbean, the Gulf and the northeastern U.S. have gained considerably in recent days, following the gasoline shortages caused by Hurricane Sandy.

 

Spot rates for oil tankers have increased to the neighborhood of $30,000 per day from $8,500 per day before the storm last week, according to Dahlman Rose, the New York-based investment bank.


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Russia to Temporarily Ban Food Imports From Greece

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Russia is planning to introduce temporary restrictions on dairy, meat and seafood imports from Greece, starting July 15, according to the Russian Federal Veterinary and Phytosanitary Inspection Service, The Moscow Times reports.

Russian food safety inspectors, who discovered violations of hygiene standards in June, said the Greek Veterinary Service had overlooked improper certification of animal products intended for export.

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Totally “Made in Vietnam” mega crane handed over to Port of Da Nang

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July 1st 2013, Doosan Vina marked another important milestone in the localization of the company when the first completely designed, engineered, manufactured and commissioned 145 tons Rubber Tired Gantry Crane (RTGC) was handed over to thePort of Danang on June 28th. 

 

Speaking at the ceremony Mr. Nguyen Thu, Danang Port Director said "The 100% 'Made in Vietnam' RTGC will increase our productivity because the loading and unloading of cargo container ships will be much faster and enable us to hit our targets."  Thu went on to say that “This additional RTGC will help Danang port raise its container handling capacity making it more attractive as an import/export center in Vietnam.”

 

This RTGC weighed 145 tons was 27M high, 25M long and 11M wide and designed to move the 40 ton containers typical in global logistics today.


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The third annual “One Mind Festival”

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The third annual “One Mind Festival” at Doosan Heavy Industries Vietnam was themed "Proud People, ProudDoosan" took place on April 6th at the company’sDung Quat 110 hectare complex.  Almost 2,500 employees were joined by nearly 300 guests from government agencies, clients, partners, the local community and members of employees’ families for the all day event.


 

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Vietnamese win Global Industrial Competition

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Doosan Heavy Industries Vietnam announced that Vitenamese technicians had recently won a global industrial competition in Korea. The competition involved entries from Doosan Heavy Industries seven worldwide production sites and to honor and welcome the winning team home a cermony was held at the company’s 110 hectarce high tech manufacturing complex in Quang Ngai.

 

“This is a significant event because Vietnamese industrial skills were pitted against much more experienced and senior operations from around the world, and we won!” Said a spokesperson who went on to say, Doosan’s Vietnamese operation has only been in production for a little more than three years and winning the competion is certanily a testimony to the skill and expertise of the Vietnamese workforce”. 

   

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EU, Thailand Begin Negotiations for Free Trade Agreement

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José Manuel Barroso, European Commission president, and Yingluck ShinawatraThailand’s prime minister, have launched negotiations for a free trade agreement between the European Union andThailand.

Karen De Gucht, EU Trade Commissioner, and Teriyapirom BoonsongThailand’s Minister of Commerce, had met earlier to formally agree on the start of negotiations.


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Russia major trade partner for Hamburg

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Russia is the second-most important trading partner for the Port of Hamburg in terms of seaborne container handling. 

With a total volume of about 675,000 TEUs handled between Hamburg and the Russian ports, the volume of container traffic was up by a further 13.3 per cent in 2012, consolidating the lead in foreign trade with Europe and overseas via Hamburg

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ASEAN and Global Rice Situation and Outlook

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The ASEAN and global rice market fundamentals in 2011–2012 indicate record production and growth in global stocks. International reference prices for long grain white rice have declined significantly from levels of the previous 3 years. The baseline projections presented in this paper imply a growth in output, consumption, stocks and trade, assuming normal weather and a continuation of current policies.


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Laos to Join World Trade Organization

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Laos will officially become the 158th member of the World Trade Organization on Feb. 2.

The country last week notified the WTO that it had ratified its membrership agreement, which had been approved by the WTO General Council in October. Negotiations on Laos’ accession had lasted 15 years, the WTO said.

Four nations joined the multilateral trade body in 2012: MontenegroRussia, Samoa andVanuatu.

The Journal of Commerce

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India, ASEAN Trade to Reach $100 Billion by 2015

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At the second India-ASEAN Business Fair in New Delhi, Anand Sharma, Union Minister for Commerce, Industry & Textiles, expressed confidence that trade between India and the Association of Southeast Nations countries will reach $100 billion by 2015.

 

“We would like to benefit from ASEAN experience in key sectors of economy, such as infrastructure, agro-processing, retail and value-added manufacturing,” Sharma said.

 

He also stressed that there should be a concerted push to strengthen connections with ASEAN to foster economic growth.

 

The Journal of Commerce

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