Greek basketball power Panathinaikos came close but lost to Spanish giant Barcelona, 80-76 on Jan. 9, taking its first loss in the final round of 16 in the Euroleague.Adding to the woes, the Greens found out its 77-76 win over fellow power and archrival Olympiakos in the quarter-finals was overturned after a sports judge invalidated it because banned former Panathinaikos President Dimitris Giannakopoulos was sitting courtside in defiance.The Greens will appeal to the Supreme sports Court (ASEAD), but it looks likely it will be Olympiakos to face PAOK in the Thessaloniki semifinal next month and Panathinaikos is out on the technicality.In Spain, Panathinaikos got off to a good start and led by 35-25 before the Spanish team went on a run to tie it at the half, 37-37.A barrage of three-pointers from Marcelinho Huertas, who hit five in a row and 6-of-8 in the game, gave his team a 54-44 lead before the Greek team started clawing back.(making five straight shots for a total of 6/8 in the game) allowed the Catalans to advance by 10 (54-44), before Panathinaikos began eating into its deficit and closing to 77-76 a minute from the end but it fell short. TweetPinShare0 Shares
zoom Chemical shipping market is heading toward a recovery phase, which would be supported by subdued ordering and a narrowing in the tonnage supply-demand gap from late 2018, shipping consultancy Drewry informed.Tonne-mile demand of chemical commodities is set to grow at 3.8% on a year-on-year basis in 2017, of which the organic trade is likely to grow only at 1.5%. By contrast, inorganic and vegoil tonne-miles are expected to increase by 6.3% and 6.5%.The global chemical trade is expected to grow at 3.3% in 2017, according to Drewry, owing to the strong vegetable oil trade from Southeast Asia to South Asia. The recent reduction in US exports, as a result of Hurricane Harvey, which had a negative impact on the chemical shipping trade, is expected to prove only temporary. Trade will return to normal patterns when North American plants resume production.Chinese demand for methanol has been improving during the second half of the year as methanol-to-olefins (MTO) plants either plan to ramp up or resume production. Ten new MTO plants are coming on stream in the second half of 2017, and two new plants will begin operations early in 2018. One methanol plant in Iran and two plants in the US will come online by the end of 2017. Drewry thus expects moderate growth in the global methanol seaborne trade, especially in long-haul and domestic trade routes in China.Time charter rates picked up in the third quarter of 2017, supported by strong demand for clean petroleum products (CPP) and palm oil. Robust demand, high fuel production and declining fuel inventories will strengthen the clean product tankers market from the fourth quarter to 2018.“The chemical tanker fleet is oversupplied, and increased demand in the CPP market will attract more swing tankers to move to the CPP trade. Overall, we expect earnings to improve over the medium term,” Hu Qing, Drewry’s lead analyst for chemical shipping, said.