KARACHI: Brisk shipping was recorded at the Port where seven ships, MOL Globe, Ikan Salmon, Ocean Enterprise, Flag Zannis, Khor Gas, Gao Cheng-3 and Jo Pinari carrying containers, 98,014 tonnes Coal, 19,718 tonnes Canola Seeds, 1,487 tonnes LPG, 17,500 tonnes Palm oil and 27,000 tonnes Diesel oil/MoGas were arranged berthing at Qasim International Container Terminal, Multi Purpose Terminal, Pakistan International Bulk Terminal, Grain & Fertilizer Terminal, Engro Vopak Terminal, Liquid Cargo Terminal and FOTCO Oil Terminal respectively on Wednesday.
Meanwhile, five more ships, Teno, IVS Swinley, Yu Fu, lowland Future and LNG Simaisma with Containers, Coal, Palm oil and LNG also arrived at outer anchorage of Port Qasim during last 24 hours. A total of ten ships, MOL Globe, MSC Asya, Maersk Atlanta, Flag Zannis, Khor Gas, Ikan Salmon, Ocean Enterprise, Gao Cheng-3, NCC Najem and Jo Pinari are currently occupying PQA berths to load/offload Containers, Canola Seeds, LPG, Coal, Palm oil and Diesel oil respectively.
Cargo throughput during last 24 hours stood at 129,135 tonnes, comprising 70,900 tonnes import cargo and 58,235 tonnes export cargo inclusive of containerized cargo carried in 3,573 Containers (TEUs), (508 TEUs Imports and 3,065 TEUs exports) was handled at the Port. Two ships, Container Vessel Maersk Atlanta and Gas carrier Khor Gas sailed out to sea on Thursday morning, while three more ships MSC Asya, NCC Najeem and Jo Pinari are expected to sail on the same day in the afternoon.
Four ships, Teno, Gulf Bridge, LNG Simaisma and IVS Swinley Forest carrying Containers, LNG, and Coal are expected to take berths at QICT, EEVTL, and PIBT respectively on Thursday, while two more ships, Songa Calabria and Safmarine Nyassa carrying Containers are due to arrive at PQ on Friday.
A piece published earlier: PM has inaugurated the unit one of the 1,320MW coal-fired power plant yesterday (on Wednesday 29th of November) here at Port Qasim. It is pertinent to mention here that this is one of the biggest two projects under CPEC. PM, while speaking on the occasion, termed completion of the $2.8b project in 30 months a great achievement on the part of Port Qasim Electric Power Company Ltd and Private Power and Infrastructure Board. Reiterating that the plant symbolized Sino-Pak friendship the PM acknowledged the financial support of Al-Mirqab Capital Chairman Sheikh Jassim bin Hamad bin Jassim bin Jaber Al-Thani. (Published on 30th November 2017)
Canada imports of cheap steel diverted from US by tariffs surges
OTTAWA: Canada’s finance minister warned Tuesday that US tariffs on steel have led to a spike in imports of cheap foreign steel that threaten the local industry.
“We’ve seen increases in imports,” Minister Bill Morneau told reporters.
“We’re concerned with, as a matter of fact of tariffs that have been imposed in the United States, that there will be producers in other parts of the world that will divert their steel to Canada, causing harm to Canadian producers,” he said.
Morneau said he would consult with industry executives over the coming weeks before deciding on measures to block the surge in cheap steel imports.
He noted that any action would target specific products, and not countries, listing a few of them: steel plates, concrete reinforcing bars, steel tubular products, hot rolled sheets, pre-painted steel, stainless steel wires, and wire rods.
“We want to make sure that we keep the market stable, that we deal with import surges in a way that doesn’t harm Canadian producers and workers,” Morneau said.
The United States in June unveiled 25 percent tariffs on steel products and 10 percent on aluminum. Ottawa hit back with retaliatory tariffs on 1st July.
Tokyo’s Nikkei index jumps more than 2.2%
TOKYO: Tokyo’s benchmark Nikkei index surged more than 2.2 percent Tuesday, swiftly recovering from the previous day’s losses, with investors encouraged by an apparent hiatus in the Turkey lira crisis.
The benchmark Nikkei 225 index, which lost more than two percent on Monday, rose 2.28 percent or 498.65 points to close at 22,356.08, snapping a four-day losing streak. The broader Topix index was up 1.63 percent or 27.45 points at 1,710.95.
Trump endorses call for Harley-Davidson boycott
WASHINGTON: US President Donald Trump endorsed calls today for a boycott of tariff-hit Harley-Davidson over its plans to move production of its iconic American motorcycles out of the country.
“Many @harleydavidson owners plan to boycott the company if manufacturing moves overseas. Great!” Trump tweeted.
“Most other companies are coming in our direction, including Harley competitors. A really bad move!”
Trump has taken it personally since Wisconsin-based manufacturer — once a presidential favorite — announced on Monday it is moving some production out of the US.
Harley-Davidson was targeted with EU tariffs after Trump imposed stiff duties on European steel and aluminum.
An array of US companies have complained they are being hurt by the administration’s tariff policies.
But Trump has treated the issue as a loyalty test.
“I’ve done so much for you, and then this,” Trump tweeted earlier this week. “Other companies are coming back where they belong! We won’t forget, and neither will your customers or your now very HAPPY competitors!”
Last year, Harley-Davidson announced it would build a plant in Thailand after Trump pulled out of the Trans-Pacific Partnership (TPP) trade deal, which would have abolished tariffs on their motorcycles across 40 percent of the world’s economy.
The company has repeatedly described the Thailand factory, along with other overseas production, as vital to its long-term need to boost foreign markets to make up for sluggish sales in the US.
In January, Harley-Davidson announced it would close its Kansas City, Missouri assembly plant and consolidate jobs in York, Pennsylvania.
“A Harley-Davidson should never be built in another country-never!” Trump said earlier on Twitter.