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Exxon's Huge Downstream Earnings Set To Continue

2015-07-23 22:08:20| Chemicals - Topix.net

We may have a dead cat bounce in the oil markets, which means we're returning to the lows. Exxon's refining division will do very well here.

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Dow Chemical profit beats estimates as margins continue to expand

2015-07-23 15:43:56| Chemicals - Topix.net

The U.S. chemical maker's plastics business has benefited from easy access to cheap shale gas, which is stripped down into ethane to make ethylene - a key component of plastics and many chemicals. Global crude oil prices have halved in the past year, narrowing the price difference between crude oil-derived naphtha and natural gas-based ethane cracking, which erased the competitive advantage U.S. chemical firms had over their European rivals.

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MTA to continue biennial toll, fare hikes

2015-07-23 07:54:38| Railroads - Topix.net

NEW YORK – The biennial toll and fare increases that the Metropolitan Transportation Authority has been levying since 2009 are likely to continue, at least in 2017 and 2019.  In a long-range assessment of the MTA's finances, Chief Financial Officer Bob Foran said Wednesday that biennial increases of 4 percent and annual recurring cost savings of as much as $1.8 billion will keep out-year deficits in the $14.5 billion budget to “manageable” levels, $175 million in 2018 and $224 million in 2019.  At the same time, they will ensure that the MTA has some cash to leverage for capital projects or debt service.

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Attacks on small tankers continue in South East Asia, says IMB report

2015-07-23 01:00:00| Ship Technology

The hijacking of small coastal tankers by maritime pirates in the South East (SE) Asian waters is continuing to increase, averaging one attack every two weeks, a new report from the International Chamber of Commerce (ICC) International Maritime Burea

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USITC to continue investigations into corrosion-resistant steel imports

2015-07-20 14:50:05| Steel - Topix.net

The United States International Trade Commission determined July 16, 2015, in a unanimous vote that there is a reasonable indication that the U.S. steel industry is threatened with material injury by reason of imports of certain corrosion-resistant steel products from China, India, Italy, Korea and Taiwan that are allegedly subsidized and sold in the U.S. at less-than-fair value. As a result of the USITC's affirmative determinations, the U.S. Department of Commerce will continue to investigate imports of these products from China, India, Italy, Korea and Taiwan, with its preliminary countervailing duty determinations due on or about Aug. 27, 2015, and its preliminary antidumping duty determinations due on or about Nov. 10, 2015.

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