Stolt-Nielsen Limited (Oslo Børs: SNI), Golar LNG Ltd and Höegh LNG Holdings Ltd. announced today a combined investment commitment of $182 million in Avenir LNG Ltd. to pursue opportunities to deliver LNG to areas of stranded demand, as well as the development of LNG bunkering capabilities. The...
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Trump Gets Oil Traders’ Attention Over Call With Saudi King
Donald Trump spoke on the phone Saturday with King Salman bin Abdulaziz of Saudi Arabia, days after the U.S. president’s latest criticism of OPEC over high oil prices. The pair discussed efforts to maintain supplies to ensure the stability of the oil market and growth of the global economy, plus...
https://www.hellenicshippingnews.com/trump-gets-oil-traders-attention-over-call-with-saudi-king/
US Hot and Cold Rolled Coil Prices Slip, Plate Values Firm
The downward momentum of US hot rolled coil prices continued, for the second successive month, in September. Amid a seasonal slowdown in activity, domestic mills are being forced to lower prices, in an attempt to secure bookings, for the fourth trimester. Many US buyers report that they are...
https://www.hellenicshippingnews.com/us-hot-and-cold-rolled-coil-prices-slip-plate-values-firm/
President Hernandez: New Puerto Cortes berth to position Honduras as regional logistics hub
Honduran President Juan Orlando Hernandez recently inaugurated the new Pier 6 facility of Puerto Cortes operated by Operadora Portuaria Centroamericana S.A. de C.V. (OPC), a subsidiary of International Container Terminal Services, Inc. (ICTSI), expected to further strengthen the country’s position...
Argus launches first new IMO 2020 compliant marine fuel assessment
Global energy and commodity price reporting agency Argus yesterday launched a low-sulphur fuel oil (LSFO) price assessment for the shipping fuel market in Singapore. The Argus LSFO 0.5%S price is the first assessment to be launched for new fuels needed to comply with lower sulphur limits for the...
Brent oil hits four-year high ahead of Iran sanctions, but demand may stutter
Brent crude oil prices rose to their highest since November 2014 on Monday ahead of U.S. sanctions against Iran, the third-largest producer in the Organization of the Petroleum Exporting Countries (OPEC), that kick in next month. Benchmark Brent crude oil futures rose to as much as $83.32 a barrel...
U.S. power producers’ coal consumption falls to 35-year low: Kemp
Despite political support from the White House, U.S. coal consumption continues to fall, as power producers shutter coal-fired units in favor of cheaper and more flexible natural gas as well as solar and wind. Electric power producers’ coal consumption fell to 298 million short tons in the first...
https://www.hellenicshippingnews.com/u-s-power-producers-coal-consumption-falls-to-35-year-low-kemp/
Russia’s Gazprom lifts Jan-Sept non-CIS gas exports 5.8 pct y/y
State-controlled Russian gas giant Gazprom exported 5.8 percent more gas to non-CIS countries between Jan. 1 and Sept. 30 than in the same period last year, it said on Monday. The non-CIS exports for the period totalled 149.2 billion cubic metres (bcm) while natural gas production rose by 7.2...
https://www.hellenicshippingnews.com/russias-gazprom-lifts-jan-sept-non-cis-gas-exports-5-8-pct-y-y/
SK Group in talks to sell SK Shipping to private equity fund
South Korea’s third largest conglomerate SK Group is moving to shed its shipping business SK Shipping Co. amid worsening financial conditions of the unit and the government’s regulations on intra-affiliate transactions by large business groups. SK Holdings Co., the holding entity of SK Group, is...
https://www.hellenicshippingnews.com/sk-group-in-talks-to-sell-sk-shipping-to-private-equity-fund/
US produced 10.964 mil b/d of crude oil in July, breaking last month’s record output: EIA
US oil production average 10.964 million b/d in July, breaking the output record set last month when output averaged 10.695 million b/d, the Energy Information Administration said in its monthly production report Friday. EIA revised upwards its June oil output data by 27,000 b/d. Production in July...