The Maritime and Port Authority of Singapore has begun acceptance tests to roll out mass flow meters on bunker tankers for the delivery of distillates, with the first test completed last month, the MPA said Wednesday. “The first test was successfully completed in September 2018 and MPA is working...
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Shell announces supply ports for new 0.5% sulfur marine fuels
Global producer Shell has announced supply locations for new 0.5% sulfur marine fuels to be used after the International Maritime Organization’s limit drops to that level in 2020. The company will make the new fuels available at Freeport, New Orleans and Houston in the Americas and Rotterdam,...
https://www.hellenicshippingnews.com/shell-announces-supply-ports-for-new-0-5-sulfur-marine-fuels/
UK sanctions post-Brexit
The UK currently imposes sanctions via the powers contained in the European Communities Act 1972. This Act provides for the incorporation of all European Community law, and its Treaties, Regulations and Directives into UK law. This is, however, due to change as a result of the European Union...
https://www.hellenicshippingnews.com/uk-sanctions-post-brexit/
Scorpio Bulkers Inc. Announces a Commitment for a New Loan Facility
Scorpio Bulkers Inc. announced that the Company has received a commitment from Nordea Bank Abp, acting through its New York branch, and DVB Bank SE for a loan facility of up to $90.0 million. The loan facility will be used to finance up to 60% of the fair market value of six Ultramax dry bulk …
Vroon sells MPI Offshore to Van Oord
Vroon Group has completed the sale of MPI Offshore to Van Oord. Van Oord has acquired the MPI office organisation in Stokesley (UK), the vessels MPI Adventure and MPI Resolution, and associated crew. A total of hundred people, both office staff and crew, will be joining the Van Oord UK...
https://www.hellenicshippingnews.com/vroon-sells-mpi-offshore-to-van-oord-2/
Goldman Sees Risk That Oil Will Hold $80+ on Iran, Hedging Moves
Goldman Sachs Group Inc. said there’s a risk oil will hold above $80 a barrel toward the end of the year, striking a slightly more bullish tone than it did a week ago, as Iran’s exports plunge and producers pull back from hedging. Oil futures have gained recently, driven by “one-way financial flow...
https://www.hellenicshippingnews.com/goldman-sees-risk-that-oil-will-hold-80-on-iran-hedging-moves/
Japan’s August flat steel stocks rise 4% on month to 4.29 mil mt
Stocks of hot rolled, cold rolled and coated coils held by Japanese steel producers, distributors and coil centers rose 4.4% month on month to 4.29 million mt at end August, Nippon Steel & Sumitomo Metal Corp data showed. A Tokyo-based distributor Tuesday attributed the increase to holidays and...
https://www.hellenicshippingnews.com/japans-august-flat-steel-stocks-rise-4-on-month-to-4-29-mil-mt/
Qatar Petroleum agrees two 5-year naphtha deals with Marubeni
Qatar Petroleum, the world’s top supplier of liquefied natural gas (LNG), on Wednesday announced two five-year sales agreements with Japan’s Marubeni Corporation . It will supply Marubeni 1.2 million metric tons of naphtha per year starting from this month, Qatar Petroleum said in an emailed...
https://www.hellenicshippingnews.com/qatar-petroleum-agrees-two-5-year-naphtha-deals-with-marubeni/
Anthony Veder And Bunker Connect Sign Contract
Anthony Veder and Bunker Connect have signed a bunker procurement and management contract for the Amsterdam-Rotterdam-Antwerp (ARA) set of ports. Upon successful implementation in the ARA area, Anthony Veder and Bunker Connect will look at further expanding their cooperation. The partnership...
https://www.hellenicshippingnews.com/anthony-veder-and-bunker-connect-sign-contract/
Navios Maritime Partners L.P. (NMM) Receives $2.35 Consensus Target Price from Analysts
Navios Maritime Partners L.P. (NYSE:NMM) has been assigned a consensus rating of “Hold” from the seven brokerages that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating on the...