
Source: Best Oasis The report added that “overall, while vessel availability in India highlighted some activity, the global recycling markets remained subdued, weighed down by low demand and hesitant buyers across all regions. Global growth in 2025 is expected to reach a modest 2.5%, reflecting a slow recovery from the pandemic. Emerging markets, led by India and supported by the U.S., will drive growth, with emerging economies expanding at 3.5%-4% and developed economies growing at a slower 1.25%–1.75%. Challenges include rising U.S. tariffs, weaker Chinese demand, eurozone struggles with energy costs, and industrial overcapacity. A stronger dollar will add inflationary pressure on emerging markets that rely on dollar-settled imports, particularly oil. Despite easing global inflation, expected to decline to 4% by 2025, elevated debt levels and unwinding monetary tightening will present ongoing risks to global stability”, Best Oasis concluded. In a separate note this week, shipbroker Intermodal added that “as we approach the end of 2024, the recycling markets have shown limited sales and activity up to date. This trend can be attributed to several factors, including the good performance of shipping sectors over the year, volatility of local steel markets, fluctuating currency values and geopolitical dynamics. Last week, the Indian recycling market experienced subdued activity. Despite an increase in the supply of scrap tonnage, with several units offered, activity remained weak. This was primarily driven by tepid demand for local steel plates, which in turn softened demand for scrap steel and lead ship recyclers to a more cautious approach. In view of the Hong Kong Convention coming to force in 2025, Alang recyclers are set to gain competitive advantage over their sub-continent neighbours, since all Alang shipyards are essentially HKC complied, allowing to handle demolition tonnage in an environmentally sustainable way. On the broader economic front, India’s trade deficit surged to a record $37.84 billion in November 2024, exerting additional pressure on the Indian Rupee against the US Dollar. Source: Intermodal Imports reached an all-time high, while exports fell to their lowest level since October 2022. In Bangladesh, the recycling sector showed no significant progress. Although there was availability of vessels for recycling, purchasing activity remained limited, due to financial constraints faced by many buyers, preventing them from opening LCs. Additionally, sluggish domestic construction activity continued to weigh on the local steel market, with little hope for improvement as the year ends. Overall, market sentiment is cautious, with uncertainty about 2025 outlook. The Bangladeshi government has requested additional financial support from the IMF amid economic challenges, including low foreign exchange reserves, limited growth prospects, and political instability. The State Bank of Pakistan cut its key policy rate by 200 bp, reducing to 13%, amid inflation ease, reflecting the government’s efforts to rejuvenate the local economy and improve business confidence. The steel market is stagnant with weak demand, and the recycling sector remains unchanged, with no signs of recovery. As the Hong Kong Convention is set to enter into force in June 2025, both Pakistan and Bangladesh ship recyclers should put efforts towards investments relative to upgrading facilities to meet HKC criteria. In Turkey the Lira continues its downwards trajectory against US Dollar, amid economic slowdown in 2024. For a second consecutive quarter, the GDP contracted in Q3 2024 by 0.2%, matching the 0.2% reduction of Q2, as high interest rates continue to weigh on the economy. The recycling sector remains at a standstill with the prices remaining same as the previous week”, Intermodal concluded. Nikos Roussanoglou, Hellenic Shipping News WorldwideSankey Vs Young: Oil Strategists Face Off in Live Premium-Only Debate With Kevin Muir
CLEMSON, S.C. (AP) — South Carolina coach Shane Beamer has no doubt about where his surging, 16th-ranked Gamecocks belong in the postseason — chasing a national championship. “It's hard for me to say we're not one of the 12 best teams in the country,” a giddy Beamer said Saturday after watching his team pull off another late miracle, courtesy of quarterback LaNorris Sellers, to defeat No. 12 Clemson 17-14. Sellers scored his second touchdown , this one from 20 yards out with 1:08 to play, for South Carolina's sixth straight victory, four of them in that run coming over ranked opponents. Are you paying attention, College Football Playoff selectors? “If the committee's job is to pick the 12 best teams, you tell me,” Beamer said. It would be hard to pick against the Gamecocks (9-3, 5-3 SEC; No. 15 CFP) with Sellers, a confident, poised freshman, playing as well as he is. He finished with 166 yards rushing and 164 yards passing. Two games ago, he set career bests with 353 yards passing and five TD throws in twice rallying the Gamecocks from fourth-quarter deficits to defeat Missouri 34-30. This time, Sellers shrugged off his interception near Clemson's goal with less than 11 minutes left to lead his team to a field goal and then his game winner. Sellers spun away from defender Peter Woods in the backfield, broke through the line and cut left to reach the end zone. Sellers hears defenders get angry when they get their hands on but can't bring down the speedy, 6-foot-3 passer in his first year since taking over for Spencer Rattler. How does he do it? “I don't really know,” Sellers said. Beamer had an answer to that one, too. “He's a competitor, he's a warrior,” Beamer said. “He doesn't get too high or too low. He's out there having fun.” The Gamecocks hope to have more fun in a week so, confident they'll hear their name called among the expanded field of 12 that will play for a national crown. They know, too, they'll have Sellers leading the way. “He's a magician, man,” Gamecocks linebacker Demetrius Knight Jr. said. “LeMagic, LeComeback, whatever you want to call him.” Clemson (9-3, 7-1 ACC, No. 12) had a final chance and drove to the South Carolina 18 with 16 seconds left — well within reach of a tying field goal — when Cade Klubnik was intercepted by Knight to end things. The Gamecocks were 3-3 after losing at Alabama in mid-October and then pulled off their longest winning streak since 2012. The Tigers also were hoping to play their way into the CFP's 12-team field. But their offense had too many costly mistakes and their defense could not corral Sellers. “He's a great player and made great players,” Clemson linebacker Barrett Carter said. Still, there could be postseason hope for Clemson, which will cross its fingers and pray Syracuse can pull off an upset over No. 8 Miami later Saturday that would get the Tigers into the Atlantic Coast Conference title game next week against SMU. Both teams came in on highs, the Tigers having won three straight and the Gamecocks five in a row, including three consecutive over ranked opponents Texas A&M, Vanderbilt and Missouri. But neither team found its offensive rhythm in the opening half. Sellers was sacked by T.J. Parker and turned the ball over as Parker recovered with South Carolina inside the Clemson 20. The Tigers drove to the South Carolina 11 and turned down a chip-shot field goal to go for it on fourth-and-1. But Mafah was stopped way short by Jalon Kilgore and Knight. Klubnik had scoring runs of 13 and 18 yards for the Tigers. South Carolina: What a run by the Gamecocks, who before the season were picked 13th in the SEC and now may find themselves part of the national championship playoff field. Clemson: The Tigers lost to both ranked SEC opponents they faced this season, first to No. 1 Georgia to start the year and then to rival South Carolina. Tigers coach Dabo Swinney was proud of his team's regular season but knew the loss might leave it short of getting back to the playoff. “We could've had a great year,” he said. "We got better this season, a lot of positives to build on. “But this one is tough. It's tough. It hurts,” he continued. Shane Beamer knew what a big week it was when he got a voicemail from his old boss, former South Carolina coach Steve Spurrier. “Beamer, you're doing great,” said Spurrier, who coached the Gamecocks from 2005-2014. “This might be the biggest game in the history of South Carolina.” South Carolina and Clemson both await their postseason games. Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here . AP college football: https://apnews.com/hub/ap-top-25-college-football-poll and https://apnews.com/hub/college-football
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GENEVA (AP) — World Cup sponsor Bank of America teamed with FIFA for a second time Tuesday, signing for the Club World Cup that still has no broadcast deals just over six months before games start. Bank of America became FIFA’s first global banking partner in August and sealed a separate deal for a second event also being played in the United States, two days before the group-stage draw in Miami for the revamped 32-team club event . It features recent European champions Real Madrid, Manchester City and Chelsea. “FIFA is going to take America by storm and we’re going to be right at their side,” the bank’s head of marketing, David Tyrie, said in a telephone interview Tuesday. Bank of America joins 2026 World Cup sponsors Hisense and Budweiser brewer AB InBev in separately also backing the club event, and more deals are expected after Saudi Arabia is confirmed next week as the 2034 World Cup host. While games at the next World Cup, co-hosted with Canada and Mexico, will be watched by hundreds of millions globally mostly on free-to-air public networks, the Club World Cup broadcast picture is unclear. FIFA has promised hundreds of millions of dollars in prize money for the 32 clubs to share but is yet to announce any broadcast deals for the month-long tournament. It is expected to land on a streaming service. “You have to think about how you are going to connect with these fans,” Tyrie told the Associated Press from Boston. “TV is one, sure, social media is a big avenue. “The smart marketing capabilities are able to say ‘Hey, we need to tilt this one a little bit more away from TV-type marketing into social-type marketing.’ We have got a pretty decent strategy that we’re putting in place to do activation.” Engaging Bank of America’s customers and 250,000 employees are key to that strategy, Tyrie said. “It’s going to be for our clients, and entertainment, it’s going to be for our employees in creating excitement. All of the above.” The Club World Cup will be played in 12 stadiums across 11 cities, including Bank of America Stadium in Charlotte, N.C, and Lumen Field where the hometown Seattle Sounders play three group-stage games. European powers Madrid, Man City and Bayern Munich lead a 12-strong European challenge. Teams qualified by winning continental titles or posting consistently good results across four years of those competitions. The exception is Lionel Messi’s Inter Miami, who FIFA gave the entry reserved for a host nation team in October based on regular season record without waiting for the MLS Cup final. LA Galaxy hosts New York Red Bulls playing for that national title Saturday. Messi’s team opens the FIFA tournament June 15 in the Miami Dolphins’ Hard Rock Stadium and will play its three group games in Florida. “The more brand players you bring in, the bigger the following you have got,” Tyrie acknowledged, though adding Messi being involved was “not a make or break for the event.” The Club World Cup final is July 13 at Met Life Stadium near New York, which also will host the World Cup final one year later. AP soccer: https://apnews.com/hub/soccer
Bank of America signs again with FIFA for US-hosted Club World Cup that still has no TV deals