Oil buyers who viewed Obama-era policies as precedent for U.S. sanctions on Iran are getting a rude shock. A Trump administration demand that oil purchases should stop has blindsided Asian importers who assumed they would only have to reduce shipments from the Persian Gulf state. Now, one after...
https://www.hellenicshippingnews.com/iran-oil-buyers-craving-obamas-waivers-get-trump-shock-instead/
Oil and oil-related shipments from Georgia’s Black Sea port of Batumi fell 46.8 percent in the first nine months of 2018 from a year earlier, an official at a KazMunaiGas-operated terminal said. Some crude oil has been re-routed to the Baku-Tbilisi-Ceyhan pipeline and to the Caspian Pipeline...
Hong Kong is set to fight against its rival Singapore in the hope of reclaiming its place among the world’s top four container ports, with the city’s leader expected to announce new measures in her policy address next week. Officials are considering tax sweeteners to lure back big firms, among...
Green light for the investment on the southbound quay and yard of Medcenter Container Terminal in Gioia Tauro; renovations will involve over 130,000sqm of the terminal area. Civil works started on October the 1st on the southbound quay and yard areas of the MCT terminal. Renovations will cover...
Australia’s metallurgical coal and iron ore export volumes are forecast to rise and prices to fall over the next two years, the country’s Office of the Chief Economist said. Metallurgical coal earnings are tipped to fall 3.8% in the current fiscal year to A$36 billion ($25 billion), weighed down by...
A contract between parent company of Eesti Gaas (Estonia’s leading energy company), and Damen Shipyards has been signed for the construction of the first of a series of short-sea LNG bunker vessels to operate in the Baltic Sea. The LGC 6000 LNG class vessel, scheduled for delivery in September...
Eagle Bulk Shipping Inc. announced that it has mandated DNB Markets, Fearnley Securities and SEB to arrange a series of meetings commencing on October 5, 2018 with existing holders of the USD 200 million in aggregate principal amount of 8.250% Senior Secured Bonds due in November 2022 (OSLO BØRS:...
After months of negative news, American farmers rejoiced as the U.S. finally secured a trade deal with both Canada and Mexico. The pact comes just as U.S. growers are harvesting mammoth corn and soybean crops and domestic meat production balloons. The outlook for big supplies combined with trade...
https://www.hellenicshippingnews.com/the-new-trade-deal-provides-relief-for-american-farmers/
Russia could raise oil production by 200,000-300,000 barrels per day, President Vladimir Putin said on Wednesday, to tackle possible shortages of the fuel. Oil prices have reached four-year highs to over $85 per barrel due to production declines in some countries, such as Venezuela, and amid fears...
https://www.hellenicshippingnews.com/russia-could-boost-oil-output-by-up-to-300000-bpd-putin/
Newport Shipping Group has purchased 100 scrubbers with options for an additional 100 units from Chinese scrubber manufacturer Weihai Puyi Marine Environmental Technology Co (Puyier). The bulk purchase of scrubbers, which aims to safeguard shipowners against any price hikes or production...