We have reached a fairly interesting point in the year for shipping markets, being just a breath away from the final quarter of the year Source: Allied Shipbroking
https://www.hellenicshippingnews.com/allieds-weekly-market-report-week-38-2018/
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Oil at four-year high after OPEC rebuffs Trump, fails to raise output
Oil prices jumped more than 2 percent to a four-year high on Monday after OPEC declined to announce an immediate increase in production despite calls by U.S. President Donald Trump for action to raise global supply. Benchmark Brent crude hit its highest since November 2014 at $80.94 per barrel, up...
GRAINS-Soybeans extend declines as U.S.-China trade war drags
Chicago soybean futures slid for a second session on Monday as fears of a prolonged trade war between Washington and Beijing weighed on the market with new tariffs taking effect. Corn slid, but the market was trading close to its highest since Sept. 12 with prices underpinned by strong demand and...
https://www.hellenicshippingnews.com/grains-soybeans-extend-declines-as-u-s-china-trade-war-drags/
Petronas-Saudi RAPID refinery offloads first oil cargo
A supertanker carrying the first crude oil cargo to a refinery being jointly built by Malaysia’s Petronas and oil giant Saudi Aramco has arrived at Pengerang, as the two companies enter the commissioning and testing phase at the plant. Construction of the 300,000 barrels-per-day (bpd) refinery at...
https://www.hellenicshippingnews.com/petronas-saudi-rapid-refinery-offloads-first-oil-cargo/
Europe has capacity to recycle its ships, new data shows – yet shipowners want to use dangerous, polluting yards abroad
Ship recycling yards approved by the EU will have enough capacity to handle demand from EU-flagged ships that need to be scrapped, a new analysis shows. The shipping industry wants low-cost ship ‘breaking’ yards outside the EU – with dangerous working conditions and poor environmental standards –...
Saudi energy minister says OPEC/non-OPEC alliance ready to pump more in months ahead
Saudi energy minister Khalid al-Falih on Sunday rejected accusations by US President Donald Trump that OPEC was keeping oil prices elevated through anti-competitive behavior. OPEC has increased production “a good amount” since June, Falih noted, offsetting declines in member countries Iran and...
The Inconvenient Truth Of Rising Coal Prices
Coal prices are not supposed to be rising as governments tighten environmental controls but that’s precisely what is happening at the premium end of the coal market where prices have soared. Over the past six months the price of top quality thermal coal exported from the Australian port of...
https://www.hellenicshippingnews.com/the-inconvenient-truth-of-rising-coal-prices/
NOVATEK shipped first LNG cargo to Brazil
PAO NOVATEK announced that its wholly owned subsidiary, NOVATEK Gas and Power Asia Pte. Ltd. has shipped its first LNG cargo to the Brazilian market with LNG produced from the Yamal LNG project. The cargo was delivered to the Bahia Regasification Terminal owned by Petrobras. “Our LNG marketing...
https://www.hellenicshippingnews.com/novatek-shipped-first-lng-cargo-to-brazil/
BofA Merrill raises 2019 Brent crude price forecasts
Bank of America Merrill Lynch raised its Brent crude price forecasts for next year, citing a bigger reduction in Iranian exports than its earlier projections due to a more aggressive stance by the United States. The bank lifted its 2019 Brent price forecasts to $80 a barrel from $75. “Our previous...
https://www.hellenicshippingnews.com/bofa-merrill-raises-2019-brent-crude-price-forecasts/
Europe gas trade volume on track for record in 2018 so far
European gas trading volumes in 2018 may beat the record 51,000 terawatt hours (TWh) recorded in 2016 unless unseasonally warm weather prevails for the rest of this year, Prospex said in a report on Friday. The British research company said slower trading in 2017 was followed by an upturn in the...
https://www.hellenicshippingnews.com/europe-gas-trade-volume-on-track-for-record-in-2018-so-far/