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/
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...
When the Venta Maersk sailed out of Vladivostok late last month, the container ship was laden with far more than just a load of seafood. With its route across Russia’s frigid Arctic coast, the vessel also carried the promise of a new route across the globe that would shave time off major trade...
https://www.hellenicshippingnews.com/shippings-new-arctic-routes-wont-thaw-cold-economic-reality/
Italy’s new budget target dragged down European markets Friday as global stocks diverged on the final trading day of the quarter. The Stoxx Europe 600 edged down 0.2% shortly after markets opened, led lower by a 2.3% drop in Italy’s FTSE MIB Index. Italy’s antiestablishment government significantly...
https://www.hellenicshippingnews.com/italian-budget-weighs-down-european-stocks/
Italy’s government bonds, European stock markets and the euro were hit hard on Friday after Rome agreed to set a higher than expected budget deficit target that could put it on a collision course with Brussels. The Italian government on Thursday targeted a budget deficit of 2.4 percent of gross...
https://www.hellenicshippingnews.com/italy-budget-worries-hit-european-markets/
Singapore fuel oil inventories jumped 15% to a 10-week high in the week to Sept 26, boosted by thin export volumes, official data showed. – Singapore’s onshore fuel oil inventories surged 2.328 million barrels, or about 347,000 tonnes, to 17.616 million barrels, or 2.629 million tonnes, data from...
Prices of rebar steel and coke dropped to two-month lows in China on Friday amid expectations that output could rise after Beijing scrapped blanket production cuts for winter. In its final anti-pollution plan for winter, China’s environment ministry said on Thursday it would allow local authorities...
The number of bunkering operations at the Mediterranean hub of Gibraltar fell to 463 in August, the lowest since March and down from 504 in July, according to data from the Gibraltar Port Authority. Tight product availability — an issue through out the summer, with limited supplies of HSFO in the...
Star Bulk Carriers (NASDAQ:SBLK) has been given a $20.00 target price by equities research analysts at JPMorgan Chase & Co. in a note issued to investors on Tuesday, September 11th. The firm presently has a “buy” rating on the shipping company’s stock. JPMorgan Chase & Co.’s price target suggests a...
While it’s not yet time to go all-out bearish on the euro, Europe’s political disquiet and persisting monetary-policy divergence versus the U.S. suggest the common currency may have seen a short-term top. The euro hit a two-week low Friday after Italian political risks resurfaced, a day after the...
https://www.hellenicshippingnews.com/euro-shifts-to-sell-the-rally-mode-as-fed-italy-alter-outlook/