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...
Mexico must double oil exploration spending to halt output fall: Pemex
Mexico will need to double to about $4 billion its annual oil exploration investment to reverse a 14-year decline in output, a move that will require more funding by Pemex and private producers, a top official with the state-run firm said. The nation’s oil industry needs Petroleos Mexicanos to...
Qingdao Port sees Shandong refineries’ crude imports stable in 2019
China’s Qingdao Port International is confident that crude imports by Shandong-based independent refiners in 2019 will remain stable from 2018, dispelling concerns that independent refiners may be slowing their operations in response to increased competition and tighter tax regulations, the...
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...
China’s shift on winter smog rules rattles steel markets: Andy Home
China will not repeat last year’s blanket production cuts in heavy industries such as steel this winter. Rather, local governments will be given the power to decide how to meet emission targets during the smog-prone winter heating season which runs from November to March. The steel market didn’t...
Uncertain options for IMO 2020 sulfur cap, but disruptions expected – analyst
While analysts expect disruptions in the coal export and import markets, solutions to the International Maritime Organization’s 2020 sulfur cap remain unclear, a Wood Mackenzie analyst said in a report. Starting January 1, 2020, the current 3.5% sulfur cap will fall to 0.5% per IMO regulations....