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All Aboard for Hedge Funds as Trade Tide Lifts Shipping

All Aboard for Hedge Funds as Trade Tide Lifts Shipping

8 hours ago
Forced to abandon ship after mistiming their investments five years ago, hedge funds are venturing back in a bid to profit from growing global trade flows.   Around 90 percent of traded goods by volume are transported by sea and global shipping sectors, including dry bulk, are on course for a recovery this year after a near-decade long crisis, ratings agency S&P said in a report last week.   The IMF has forecast GDP growth at 3.9 percent for 2018 and 2019 versus 3.7 percent last year, which analysts say is boosting sentiment for shipping.
US Pushes More Sanctions Targeting N.Korea Maritime Smuggling

US Pushes More Sanctions Targeting N.Korea Maritime Smuggling

10 hours ago
The United States proposed a list of entities on Friday to be blacklisted under United Nations sanctions on North Korea, a move it says is "aimed at shutting down North Korea's illicit maritime smuggling activities to obtain oil and sell coal."   "We are ramping up the pressure on the North Korean regime, and we're going to use every tool at our disposal, including working with our allies and through the U.N., to increase the pressure until North Korea reverses course," U.S. Ambassador to the United Nations Nikki Haley said in a statement.
Pirates Attack Chemical Tanker off Somalia

Pirates Attack Chemical Tanker off Somalia

13 hours ago
Suspected Somali pirates attacked a Singaporean-flagged chemical tanker on Friday but were repelled by guards on board, the European Union's Naval force said, the first such incident in several months.   EU Navfor said in a statement the 50,000 metric tonne MT Leopard Sun was sailing from Sohar in Oman to Cape Town, South Africa, when it was attacked by two skiffs 160 nautical miles (295 km) off the coast of Somalia.   "The skiffs approached from the stern and fired upon her, after which the on-board Private Armed Security Team returned fire with warning shots," EU Navfor said.   The incident lasted around 20 minutes, and the vessel and crew were safe.
Tug Sinks after Collision off Maine

Tug Sinks after Collision off Maine

13 hours ago
A tugboat sank after it collided with another vessel about three miles off the coast of Maine.   One of the two crewmen aboard the 40-foot tugboat Helen Louise told U.S. Coast Guard watchstanders that their vessel collided with the 80-foot tugboat Capt Mackintire while they had it in tow about three miles south of Kennebunk, Maine, early Thursday. The Capt Mackintire had no crew aboard.   A Coast Guard boat crew arrived on scene, confirmed there were no injuries and escorted the tug Helen Louise with the two crew aboard into Portsmouth, N.H., where it safely moored.
US Targets 28 Vessels in New North Korea Sanctions

US Targets 28 Vessels in New North Korea Sanctions

14 hours ago
The United States targeted North Korea in a new wave of sanctions on Friday directed at one person, 27 companies and 28 vessels, according to a statement on the U.S. Treasury Department's website.   The Treasury's Office of Foreign Assets Control announced the new measures, which are designed to disrupt North Korean shipping and trading companies and vessels and to further isolate Pyongyang.     (Reporting by Doina Chiacu Editing by Chizu Nomiyama)