European Central Bank officials are starting to discuss priming investors for the euro area’s first interest-rate increase since 2011, a conversation that could see them putting the U.S. experience of three years ago under the microscope. With the Governing Council indicating borrowing costs will...
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France Unveils Billions in Tax Cuts as Support for Macron Ebbs
The French government unveiled billions in tax cuts Monday as it seeks to revive flagging public support for President Emmanuel Macron and his efforts to overhaul France’s economy. Mr. Macron is threading a needle as he tries to stimulate the economy without undercutting his pledge to make France a...
https://www.hellenicshippingnews.com/france-unveils-billions-in-tax-cuts-as-support-for-macron-ebbs/
Crude bears the brunt of Trump’s tweets
With mid-term elections approaching, he desperately wants lower prices at the gas station. But his aggressive foreign policy, endeavouring to isolate the Iranian regime is pushing the oil prices higher. This leaves him with little options. He needed a scapegoat and the Organisation of Petroleum...
https://www.hellenicshippingnews.com/crude-bears-the-brunt-of-trumps-tweets/
English High Court continues restraint against Djibouti Port Company over shares in Joint Venture
The High Court of England and Wales in London has continued the injunction first made on 31 August 2018, prohibiting the Government of Djibouti’s port company, Port de Djibouti S.A. (“PDSA”) from interfering with the management of the joint venture company, Doraleh Container Terminal S.A. (“DCT”)....
Nigerian maritime agency identifies nationalities of 12 abducted ship crew
Twelve crew members of a Swiss merchant vessel kidnapped by pirates off the coast of Nigeria by pirates are from the Philippines, Slovenia, Ukraine, Romania, Croatia and Bosnia, the West African nation’s maritime agency said on Sunday. Sunday Umoren from the Nigerian Maritime Administration and...
Two new vessels for Dutch Dredging
The dredging contractor Dutch Dredging welcomed two new vessels to its fleet last week during the naming ceremonies for the Papillon and the Fregate. Both vessels will go to work in the ports of Cayenne and Kourou in French Guiana. The newcomers were delivered to Boer Remorquage SARL, a joint...
https://www.hellenicshippingnews.com/two-new-vessels-for-dutch-dredging/
China Says It Won’t Hold Trade Talks Unless Trump Stops Threats
China dashed prospects for a near-term resolution to the trade war with the U.S., warning President Donald Trump his threats of further tariffs are blocking any potential negotiations. The response, which came just over an hour after the U.S. imposed new duties on $200 billion in Chinese goods on...
https://www.hellenicshippingnews.com/china-says-it-wont-hold-trade-talks-unless-trump-stops-threats/
World oil demand, refining growth to peak in 2035: Unipec
World oil demand will peak at 104.4 million barrels per day (bpd) in the mid-2030s, up from just below 100 million bpd currently, as new technologies gradually eat into oil use, China’s Unipec said on Monday. Improved energy efficiency and technological changes, including the rise of renewables,...
https://www.hellenicshippingnews.com/world-oil-demand-refining-growth-to-peak-in-2035-unipec/
Libya’s AGOCO resumes 3,000 bpd production at abandoned well in Messla
Libya’s National Oil Corporation (NOC) said on Saturday its subsidiary the Arabian Gulf Oil Company (AGOCO) had restored production at 3,000 barrels of oil per day (bpd) at an abandoned well in the eastern Messla field. After 16 years of inactivity, production resumed at the well (HH86-65) using...
Expert says production declines and geopolitical unrest may push bunker prices up
World oil indexes have not had any firm trend during the week: fuel markets are trying to make sense out of both supply and demand questions as well as geopolitical uncertainty. OPEC downgraded demand while the IEA said in a report that supply outages are tightening up the oil market. MABUX World...