Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, announced that on September 27, 2018, it closed its previously-announced US$100 million private placement of senior unsecured bonds maturing in September 2023. The Company also announced today that it...
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Does OPEC set high oil prices?
The Organization of the Petroleum Exporting Countries (OPEC), the powerful Vienna-based oil producing cartel, stands accused by US President Donald Trump of inflating crude prices and hurting consumers. Benchmark Brent oil soared this week to a four-year peak above $82 per barrel, prompting Trump...
https://www.hellenicshippingnews.com/does-opec-set-high-oil-prices/
Gas Frackers Seek More Support From U.K. as Drilling Date Nears
Weeks away from fracking its first well in seven years, Britain’s oil and natural gas industry is stepping up complaints that the government is moving too slowly to approve further projects. U.K. Onshore Oil and Gas Group, which represents companies including the oil explorer Cuadrilla Ltd., said...
https://www.hellenicshippingnews.com/gas-frackers-seek-more-support-from-u-k-as-drilling-date-nears/
Argentina aims to start construction of first LNG export terminal in 2019
Argentina’s government wants construction of the country’s first LNG liquefaction terminal to start in the second half of 2019, making it possible to export an increasing surplus of production from the giant Vaca Muerta shale play, an official said. “We are confident that the decision to push the...
NYK Introduces Advanced, Next-generation Ship’s Bridge to Improve Navigation and Reduce Marine Accidents
NYK has completed a new concept for a ship’s bridge and employed it on a large containership currently being managed by the NYK Group. The new bridge concept has been given the name “Integrated information and bridge system,” and the space and nautical instruments on this new bridge have been...
Tight October expected for fuel oil in Northwest Europe on vessel loadings and coker launch
Fuel oil availability in the Amsterdam-Rotterdam-Antwerp hub in October could be tight after an uptick in vessel loadings this month and with ExxonMobil expected to stop offering RMG 380 CST fuel from its 320,000 b/d Antwerp refinery, traders said. “Looking forward, there is a large chunk of the...
As tariffs on US LNG take effect, warnings of long-term consequences
A 10% tariff on US liquefied natural gas is not steep enough to make shipping cargoes to China unprofitable, but it adds an obstacle for the second generation of American terminals, industry observers said. “With the 10% tariff implementation, we are probably not going to see a cessation of US LNG...
America’s Oil Growth Engine Is Still Revving Up
OPEC spent the better part of the recent oil market downturn working hard to stamp out an emerging rival: the U.S. shale sector. However, instead of crushing this budding industry, the market crash made oil companies focused on drilling America’s shale formations even stronger. Because of that,...
https://www.hellenicshippingnews.com/americas-oil-growth-engine-is-still-revving-up/
Oil majors to bet big on Brazil oil amid election uncertainty
Oil majors are set to gather in Rio de Janeiro on Friday to unveil bids for stakes in Brazil’s high potential offshore areas ahead of elections that are casting a cloud of uncertainty over the industry. The auction for four blocks in the Santos and Campos basins comes just a week before...
https://www.hellenicshippingnews.com/oil-majors-to-bet-big-on-brazil-oil-amid-election-uncertainty/
KNOT Orders Two New DP2 Shuttle Tanker for Long-Term Charter with Equinor
Knutsen NYK Offshore Tankers (“KNOT”) has been awarded a contract to build two new Shuttle Tankers. The two 153,000 DWT DP2 shuttle tankers will be built by Hyundai Heavy Industries at their shipyard in South Korea and delivered in 2020. The vessels will operate in Brazil, under a long-term charter...