Hunger for resources to prompt shipping surge

Bulk carriers, tankers, container ships and liquefied natural gas carriers are all expected to see their fleet sizes expand signficantly to meet demand from fast-growing economies.

Greater capacity will be required to feed a tripling in China's thirst for oil, as well as an increasing appetite for coal.

Around 60pc of coal consumption will come from China in 2030 and India's coal consumption will more than double between 2010 and 2030, according to the report.

"The marine world in 2030 will be almost unrecognisable owing to the rise of emerging countries, new consumer classes and resource demand," said the report, which was two years in the making.

Bolstered by demand in the construction sector, India is expected to see the largest growth in steel consumption and although China's appetite for the metal will lessen, it is still expected to be the biggest steel consumer in 2030.

http://www.telegraph.co.uk/finance/newsbysector/transport/9980781/Hunger-for-resources-to-prompt-shipping-surge.html

Goldman Sachs: Short Gold!

Goldman sees gold falling to $1270 by the end of 2014.

“We see risks to current prices as skewed to the downside as we move through 2013,” Goldman analysts Damien Courvalin and Jeffrey Currie told clients. “In fact, should our expectation for lower gold prices continue to prove correct, the fall in prices could end up being faster and larger than our forecast.

The bank cut its three-month view on gold to $1,530 an ounce from $1,615. It also dropped its six-month forecast to $1,490 from $1,600 and its 12-month gold outlook to $1,390 from $1,550.

Gold is often considered a refuge from economic uncertainty and a means of safeguarding wealth. It’s also viewed as an inflation hedge. Considering the Fed has been buying $85 billion a month in Treasurys and mortgage-backed securities in an effort to spur the economy, one would think the precious metal would do well in this type of environment.

http://blogs.wsj.com/marketbeat/2013/04/10/goldman-sachs-short-gold/

Yen triggers a gold rush

The weak yen has triggered a gold rush, literally, among Japanese households, reflecting how bold new economic policies are shaking up long-entrenched deflationary attitudes, freeing up dormant assets, and sparking new economic activity.

While gold prices have softened globally, the declining value of the yen against the dollar makes the precious metal worth a lot more in Japan. Japanese families are now scrambling to dig out gold objects from closets and jewelry boxes, and selling it to metals dealers, converting their passive assets into cash that some say they plan to put to work on everything from vacations to children's allowances.

Long lines have formed this week outside jewelers from Tokyo to Osaka, with the price of gold in Japan jumping 4.8% this week as the dollar came close to hitting ¥100, up from about ¥80 late last year.

http://online.wsj.com/article/SB10001424127887323820304578412283865306950.html?mod=WSJEUROPE_hpp_MIDDLEThirdNews

UN report sees 6pc economic growth for E Africa

Economic growth in East Africa, including Kenya, is expected to remain among the fastest in Africa this year aided by natural resource discoveries, improved agricultural performance, and economic diversification, a new report showed.

The United Nations Economic Commission for Africa (Uneca) said the region is expected to realise a six per cent growth this year compared to 5.6 per cent in 2012—the second highest for the continent this year.

http://www.businessdailyafrica.com/UN-report-sees-6pc-economic-growth-for-E-Africa-/-/539546/1736618/-/ct3jvv/-/index.html

Optimistic investors display levels of bullishness

A string of positive economic news from the US in recent weeks suggests that the world's largest economy is charting a path to growth.

Hedge funds and other major speculators are putting their money on global economic recovery and rising prices for commodities, such as oil and cattle, amid growing signs that the US is on the road to recovery.

Markets have also stayed calm amid turmoil in Europe as investors greeted an eleventh-hour bail-out struck between the island and an EU-IMF troika of lenders, which averted the island's financial collapse and a possible eurozone exit.

http://www.telegraph.co.uk/finance/economics/9964880/Investors-peg-hopes-on-global-economic-recovery.html