Indonesia wants to export more coal in order to earn U.S. dollars to shore up its faltering currency, but the problem is buyers don’t seem to be hearing the message. Indonesia’s coal exports dropped to 24.8 million tonnes in September, down 12.4 percent from August’s 28.3 million tonnes and 10...
https://www.hellenicshippingnews.com/indonesia-wants-to-export-more-coal-buyers-ignore-the-call/
KONGSBERG has landed its largest ever simulator contract in a SGD 21.2 million deal with the Singapore Ministry of Home Affairs. The contract, executed by Kongsberg Digital Maritime Simulation, will see the delivery in Q1 2020 of four advanced K-Sim Tactical Boat Handling and Firing Simulators with...
U.S. Gulf of Mexico oil and gas production is returning to near normal levels following Hurricane Michael, data from an offshore regulator showed, with oil output off 15.8 percent and natural gas production down less than 10 percent. The Bureau of Safety and Environmental Enforcement (BSEE) also...
Oil prices rose on Monday as tension over the disappearance of a prominent Saudi journalist stoked supply worries, although concerns over the long-term demand outlook dragged on sentiment. Brent crude oil jumped $1.49 a barrel to a high of $81.92 before slipping to $81.13, up 70 cents, by 0850 GMT....
https://www.hellenicshippingnews.com/oil-prices-rise-on-saudi-tensions-demand-outlook-drags/
Zacks Investment Research upgraded shares of COSCO SHIPPING/ADR (OTCMKTS:CICOY) from a sell rating to a hold rating in a research report sent to investors. According to Zacks, “China COSCO Holdings Company Limited is engaged in providing container shipping, dry bulk shipping, logistics services,...
https://www.hellenicshippingnews.com/cosco-shipping-adr-raised-to-hold-at-zacks-investment-research/
A strong Asian tanker market is expected in the fourth quarter with visible signs of a recovery after being under acute supply pressure for most part of the year, participants said. In the dirty tanker markets, rates are already close to their highest level this year and the uptrend is expected to...
https://www.hellenicshippingnews.com/asia-tankers-q3-iran-sanctions-lift-dirty-clean-supply-tight/
While oil prices are reaching a 4-year high, continued US output growth and the new Russia-Saudi Arabia oil deal are posing a question to whether the market is entering a new era, QNB noted in its weekly ‘economic commentary. The QNB analysis, which delves into the demand and supply factors of the...
https://www.hellenicshippingnews.com/oil-market-broadly-balanced-says-qnb/
Mark Johnson, a transactional lawyer and former naval officer and ship captain, has joined Haynes and Boone, LLP as a London partner in the firm’s Shipping Practice. Mark has extensive experience advising on the construction, sale and purchase, financing, management, operation and ownership of all...
It’s tempting to look at the relative resilience of China’s imports of major commodities in September and conclude that the world’s second-biggest economy is weathering the trade dispute with the United States quite well. The problem with this view is that while the trade conflict certainly looms...
The world is pumping out more oil and other petroleum liquids than ever before. Global supply rose to 100.3 million barrels a day in the third quarter, the International Energy Agency said Friday in its monthly oil market report. Output, which includes crude oil, natural gas liquids, biofuels and...