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Chemicals & Energy: Page 117

Ship Sales Climb to 7-Year High

Sales of second-hand ships used to haul commodities such as iron ore, coal, grain and fertilizer have hit a seven-year high in 2016 as the industry creeps out of an eight-year downturn that has sunk several fleets of shippers.

Global Steel Production Rose 3.3 Percent for October

Global raw-steel production rose 2.6 percent from September to October, totaling 136,522,876 metric tons, with similar percentage increases in most of the major steelmaking nations and regions tracked by the World Steel Association. The year-over-year comparison is even higher for October, with a 3.3 percent higher in October 2016 than in October 2015.

U.S. Third-Quarter Growth Revised Upward on Consumer Spending

The U.S. economy expanded more than previously reported last quarter on a sunnier picture of household spending, the primary growth engine. Gross domestic product rose at a 3.2-percent annualized rate in the three months ended in September, the fastest in two years, compared with an initial estimate of 2.9 percent, Commerce Department figures showed last week. The median forecast in a Bloomberg survey called for a 3-percent gain.

How a Rebel Myanmar Tin Mine May Up-End a Global Supply Chain

From a remote corner of northeastern Myanmar, an insurgent army sells tin ore to suppliers of some of the world's largest consumer companies. More than 500 companies, including leading brands such as smartphone maker Apple, coffee giant Starbucks and luxury jeweler Tiffany & Co, list among their suppliers Chinese-controlled firms that indirectly buy ore from the Man Maw mine near Myanmar's border with China, a Reuters examination of the supply chain found.

LNG Engines Could Be Stepping Stone to Fuel Cells

The growing adoption of hybrid electric powertrain systems and the projected growth in the number of vessels burning liquefied natural gas as fuel, could lead to wider adoption of fuel cells with LNG-fuelled engines becoming the stepping stone for the wide adoption of LNG-fuelled fuel cells as prime movers.

The State of Solar Power Looks Bright in 2017, Energy Department Says

By 2017, solar power capacity in the U.S. will have nearly tripled in less than three years, according to the U.S. Department of Energy. Combined wind, utility-scale and distributed solar power accounted for more than 66 percent of all new capacity installed in the U.S. last year.

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Automated Material Handling Is Growing 8 Percent Annually

Automated material handling market is growing with a CAGR of around 8 percent - attributed to increasing demand for the automated solution from various applications like manufacturing, automotive and electrical, according to a new report by Occams Business Research & Consulting.

Construction Boom Could Boost Demand for Met Coal

Businesses that transport their goods via the highways, railways or the airways are likely to see an expansion of the nation's infrastructure. That's good news not just for companies that want to move their products in the most efficient manner possible. It may also be good news for a subset of the coal sector that produces so-called metallurgical coal for steelmaking.

Energy Agency Expects Another Oil Surplus in 2017

The oil market risks running another surplus in 2017 without an output cut from OPEC, as producers around the globe ramp up supply and demand growth falters, the International Energy Agency said last week.

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Shell Says Demand for Oil Could Peak in 5 Years

Royal Dutch Shell Plc, the world's second-biggest oil company by market value, thinks demand for oil could peak in as little as five years. Demand will peak before supply, says chief financial officer Simon Henry, and that peak will be driven by efficiency and substitution, more than offsetting the new demand for transport.

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U.S. Commerce Department Reports Fall in Durable Goods Orders

U.S. durable goods orders fell in September, confirming another weak quarter for business spending, but core capital goods showed some signs of a recovery. The Commerce Department said orders for items meant to last three years decreased $0.3bn, or 0.1 percent, to $227.3bn in September, following a 0.3 percent increase in August.

U.S. Industrial Production Rose in September, Federal Reserve Reports

U.S. industrial production rose slightly in September, improving on August's decline but still showing the effects of low energy prices and the strong dollar. Output increased 0.1 percent in September after falling a downwardly revised 0.5 percent the previous month, according to the Federal Reserve. The gain was in line with economists' expectations, according to Reuters.

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