Hyundai Merchant Marine Co. said Friday it has placed 3.15 trillion won (US$2.84 billion) worth of container ship orders with the country’s three major shipbuilders to expand its fleet. Hyundai Merchant has signed three separate deals with Hyundai Heavy Industries Co., Samsung Heavy Industries Co....
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India allows refiners to import 35 pct oil on CIF basis
India has for the first time allowed state refiners to buy 35 percent of their oil imports in tankers arranged by the seller, a document reviewed by Reuters showed, enabling them to swiftly tap cheaper cargoes. India had previously allowed state-refiners to buy only 15.48 percent of their estimated...
https://www.hellenicshippingnews.com/india-allows-refiners-to-import-35-pct-oil-on-cif-basis/
Fitch Ratings: Metallurgical Coal Miners May Curb Costs as Prices Slip
Strong cost inflation in the global metallurgical coal sector suggests that miners may focus on cost controls as prices decline from their current high levels over the next 18 months, say Fitch Ratings and CRU. However, mining companies rated by Fitch are well-positioned for any potential squeeze...
Trade dispute to hurt U.S. LNG sector
Beijing’s countermeasure against the United States in their trade dispute would hurt U.S. liquefied natural gas exporters while providing opportunities to other LNG-exporting countries, said the Ministry of Commerce. “The trade war between China and the United States has brought damage to the...
https://www.hellenicshippingnews.com/trade-dispute-to-hurt-u-s-lng-sector/
Athenian Shipbrokers S.A. Monthly Report September 2018
Athenian Shipbrokers S.A. Monthly Report September 2018 Source: ATHENIAN SHIPBROKERS S.A.
https://www.hellenicshippingnews.com/athenian-shipbrokers-s-a-monthly-report-september-2018/
Trafigura merges global fuel oil, gasoil trading desks ahead of IMO 2020 -source
Swiss trading house Trafigura has merged its global fuel oil and gasoil trading desks ahead of new shipping fuel regulations starting in 2020 set by the United Nations’ shipping agency, three trade sources said. The merger is “a prudent step to structure ourselves for future market conditions...
EU Plan to Sidestep Iran Sanctions Won’t Keep Oil Flowing
A proposed plan by the European Union, Russia and China to sidestep U.S. sanctions on Iran by using an alternative payment system won’t give its oil buyers a free pass to handle Iranian crude. Legal sanctions experts and oil traders said the creation of a special purpose vehicle and payments...
https://www.hellenicshippingnews.com/eu-plan-to-sidestep-iran-sanctions-wont-keep-oil-flowing/
Oil steady as Saudi supply balances Iran sanctions
Oil prices steadied on Friday as U.S. sanctions on Tehran squeezed Iranian crude exports, tightening supply even as other key exporters increased production. Global crude oil benchmark Brent was up 20 cents at $81.92 a barrel by 0820 GMT. The contract hit a four-year high of $82.55 this week but...
https://www.hellenicshippingnews.com/oil-steady-as-saudi-supply-balances-iran-sanctions/
Predictions Of Early ‘Peak Oil’ Demand Don’t Pass The Goldilocks Test
Adherents of the currently faddish demand side of “Peak Oil” theory (as opposed to the formerly faddish supply side, which was completely blown out of the water in recent years by the shale revolution) received a big dose of bad news over the weekend from OPEC. At a meeting with its non-OPEC...
KNOT Concludes Time-charter Contract for Two Shuttle Tankers
NYK Group company Knutsen NYK Offshore Tankers AS, of which NYK has a 50 percent share, has concluded a time-charter contract for two shuttle tankers with Equinor ASA for a maximum 20-year period starting in the second quarter of 2020. The contract aims to use two 152,000 DWT Suezmax tankers...
https://www.hellenicshippingnews.com/knot-concludes-time-charter-contract-for-two-shuttle-tankers/