SEALNG, the multi-sector industry coalition aiming to accelerate the widespread adoption of liquefied natural gas (LNG) as a marine fuel, announced today during SIBCON 2018 that it has welcomed the Maritime and Port Authority of Singapore (MPA) to its membership coalition. The MPA becomes the third...
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ExxonMobil Confirms Specification Details for its 2020 Compliant Fuels
ExxonMobil has confirmed that all its International Maritime Organization (IMO) compliant, 0.50 per cent sulphur fuels developed to date are residual grades. It has also announced specification details and confirmed that the formulations are all compatible with each other, provided that bunkering,...
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...
S. Africa’s Eskom Expects New Coal Contracts to Recover Supply
South Africa’s Eskom Holdings SOC Ltd. is still running low on fuel at more than half of its power stations and expects to finish supply contracts in October that will replenish the stockpiles. There are 10 of Eskom’s 15 baseload stations throughout the country that have less than three weeks of...
https://www.hellenicshippingnews.com/s-africas-eskom-expects-new-coal-contracts-to-recover-supply/
Saudi’s Falih says global oil market is well supplied
The global oil market is well supplied and Saudi Arabia has successfully met additional demand, Saudi Energy Minister Khalid al-Falih said on Wednesday. He was speaking to reporters in Moscow, where he is due to attend an energy conference with Russian President Vladimir Putin and other influential...
https://www.hellenicshippingnews.com/saudis-falih-says-global-oil-market-is-well-supplied/
Container shipping giant CMA CGM says will cost about $2b to comply with green shipping rule
France-based box ship giant CMA CGM, which took over Singapore’s Neptune Orient Lines (NOL), estimates it would incur about US$1.5 billion (S$2.06 billion) to comply with a green shipping regulation that will cap sulphur content in marine fuels. This is based on an extrapolation of CMA CGM’s share...