Trump to Unveil China Tariff List
The Trump administration this week will unveil the list of Chinese imports targeted for U.S. tariffs to punish Beijing over technology transfer policies, a move expected to intensify trade tensions between the world's two largest economies. The list of $50 billion to $60 billion worth of annual imports is expected to target "largely high-technology" products and it may be more than two months before tariffs take effect, administration officials have said. The U.S.
ExxonMobil Singapore Refinery to Expand
ExxonMobil announced today the expansion of its Singapore refinery to support the production of the company’s EHC Group II base stocks, which will strengthen the global supply of these products and enhance the Singapore facility’s competitiveness. Construction is expected to begin during the second quarter of 2017 with completion anticipated in 2019. ExxonMobil’s EHC product line has been designed to maximize…
Brazil Wind Power Industry Fears Closures as Demand Plunges
Brazil's wind power industry, once one of the fastest growing in the world, faces a challenging outlook as projects are delayed due to sluggish electricity demand while new licensing rounds by the government are in doubt, two industry participants said on Thursday. Vestas Wind Systems A/S Brazil head Rogerio Zampronha estimated that Brazil's production capacity for wind turbines is around 3.5 to 4 gigawatts per year…
MHI Subsidiary in Brazil for FPSO Compressors
In December Mitsubishi Heavy Industries Compressor Corporation (MCO), a Group company of Mitsubishi Heavy Industries, Ltd. (MHI) based in Hiroshima, will establish a new company in Brazil in a joint venture with Mitsubishi Corporation (MC), to be known as MHI Compressor do Brasil Ltda. (MCO-B). Creation of the new entity, which will launch commercial operations in February 2016, is targeted at developing the Latin American market for compressors…
China Commodity Outlook Brightens
Lost amid the headlines about China's decision to end its one-child policy was news that points to a brighter medium-term outlook for commodity demand in the world's biggest consumer of natural resources. While all the nitty-gritty details of the ruling Communist Party's fifth plenary have yet to be published, the world of commodities should note the commitment to double gross domestic product (GDP) and per capita income by 2020 from 2010 levels.
Vacon, One of 18 Selected by DoE
Global AC drives manufacturer, Vacon, has been named one of 18 industry-leading companies to participate in the Next Generation Power Electronics Institute at North Carolina State University. The Institute will bring research and commercial product development resources together in a centralized location to improve and make cost-competitive wide-bandgap (WBG) semiconductor-based power electronics. Over the…
St Engineering's Land Systems Arm Inject Capital in Brazil
Singapore Technologies Engineering Ltd (ST Engineering) announced today that SDG Kinetics Pte. Ltd. (SDGK) and Autonomous Technology Pte Ltd (ATPL), wholly owned subsidiaries of its land systems arm, Singapore Technologies Kinetics Ltd (ST Kinetics), have injected BRL5,499,450 (approximately S$3.2m) and BRL550 (approximately S$318) respectively into the capital of LeeBoy Brazil Equipamentos De Construção Ltda. (LeeBoy Brazil), as working capital for LeeBoy Brazil’s operations in Brazil.
Puerto Rico's Power Still Up, Debt Crisis Continues
Puerto Rico managed to keep its electricity flowing this week - but creditors made it clear that the crisis enveloping the island's power utility is far from over. Banks, led by Citibank and Canada's Scotiabank , on Thursday agreed to a seven-and-a-half month extension of $671 million in credit lines the Puerto Rico Electric Power Authority (Prepa) needs to buy oil that is essential to keep it operating. But they also got Prepa to commit to appointing a chief restructuring officer next month…
