UBS noted that the price of iron ore has seen a week-over-week increase to approximately $118 per ton. This upward movement comes despite indicators suggesting a softness in the fundamental aspects of the market. Iron ore port inventories have remained broadly flat, diverging from the usual...
India’s total consumption of crude oil or petroleum products rose 4.6 pent in fiscal 2023-24 (FY24) to 233.3 million metric tonne (MMT), while domestic production of crude oil rose marginally at 0.6 per cent. The domestic crude oil production was almost unchanged at 29.4 MMT in 2023-24, compared to...
The great investor Warren Buffett says one of his rules is “never bet against America”. There are many who share that view, including, it seems, European oil and gas companies. Two recent deals by TotalEnergies and Equinor have underlined the continuing importance of the US for international oil...
https://www.hellenicshippingnews.com/deals-show-the-enduring-appeal-of-us-gas-2/
The European Parliament has adopted the position that it wants stricter European regulations for the loss of plastic pellets. Danish Shipping recommends that efforts should focus on securing tighter global rules regarding the maritime transport of plastic pellets, instead of introducing regional...
Brazilian farmers in Mato Grosso state have cut the area planted with second corn this season by 10% as low prices push them to cultivate alternative crops, a trend they say is likely to continue. Brazil’s second corn must be sowed immediately after the soybean harvest to avoid the dry and colder...
DP World and Malaysia’s Sabah Ports Sdn. Bhd today established a partnership to manage Sapangar Bay Container Port (SBCP) to cement SBCP’s position as the premier regional trade hub for the Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA)1. Sabah Ports Sdn. Bhd is...
India’s major ports handled 819.3 million tonnes (mt) of cargo traffic in the fiscal year 2023-24, registering a year-over-year increase of around 5 per cent, driven by rising iron ore exports and increasing coking coal imports. The cargo traffic in the previous fiscal year 2022-23 stood at 784.3...
https://www.hellenicshippingnews.com/indias-major-ports-see-5-rise-in-cargo-traffic-in-fy24/
A spike in power usage from artificial intelligence (AI) data centers could significantly boost natural gas demand in the second half of the decade, analysts at investment banker Tudor Pickering Holt & Co said in a report on Tuesday. As much as 8.5 billion cubic feet per day of natural gas could be...
https://www.hellenicshippingnews.com/ai-boom-to-fuel-natural-gas-demand-in-coming-years-report-says/
India expects to hold auctions for private firms to mine and sell coal in the near future, the country’s coal and power minister Piyush Goyal said but first wants to deal with mines that are directly linked to plants that use the fuel. To boost output and cut imports, Prime Minister Narendra Modi...
A Greek military vessel serving in the European Union’s naval mission in the Red Sea intercepted two drones launched by Yemen’s Houthi militants towards a commercial ship, officials at the Greek Defence Ministry said on Thursday. “On Thursday morning Greek frigate Hydra, while it was escorting a...