As far as crude prices go, the oil market has overcome the pandemic. Brent traded above $67 per barrel last week, roughly $10 higher than it fetched a year ago when pandemic jitters started impacting oil prices and roughly equal the price at the start of 2020. Some traders fear the market is...
https://www.hellenicshippingnews.com/oils-remarkable-price-run-is-just-beginning/
OPEC officials are fond of saying they are “optimistic,” when asked their view of the oil market, but even the sunniest of ministers likely did not expect a 30% rally in Dated Brent since the start of the year. With coronavirus vaccinations progressing expeditiously in many developed nations and...
When the world economy slammed on the brakes last year, there was a rush to store a wave of unwanted crude and products, but rising prices and optimism about demand is spurring a swift unwinding of storage contracts. At the end of February, the volume of refined products held on stationary tankers...
https://www.hellenicshippingnews.com/oil-optimism-unwinding-markets-mad-dash-for-storage/
ZODIAC Terminal Operating System Includes 18 Modules that will Maximise the Utilisation of the Core Competencies and Operational assets at the terminal The digital system contributes to enhancing the port’s readiness for the future by adopting the Fourth Industrial Revolution Technologies to keep up with the rapid developments and anticipate opportunities and challenges Dubai, United …
The post DP World, UAE Region Implements Locally Developed Zodiac System In Jebel Ali Port’s Terminal 3 To...
China’s Tianjin Port saw iron ore imports rise about 60 percent year on year to around 57.06 million tonnes last year, the Tianjin Customs. The sustained growth in iron ore imports has been attributed to the huge demand for raw materials from the country’s steel industry which gained momentum as a...
https://www.hellenicshippingnews.com/chinas-tianjin-ports-surge-in-iron-ore-imports-in-2020/
Venezuela’s oil exports rose in February to over 700,000 barrels per day (bpd), their highest level in 10 months, pushed by more sales of fuel oil cargoes to new clients in Asian markets, according to Refinitiv Eikon’s tanker tracking data and documents. A growing number of clients with no track...
Oil demand is expected to rise over the next decade and the fossil fuel will remain to be a crucial part of the energy mix, even as renewables draw increasing attention, Hess Corp Chief Executive John Hess said at CERAWeek. At the biggest gathering of top energy leaders, investors and politicians...
MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO Gasoil) in the main world hubs) demonstrated downward changes on Mar.01: 380 HSFO – USD/MT – 415.58 (-3.10) VLSFO – USD/MT – 520.38 (-5.94) MGO – USD/MT – 586.98 (-5.64) Correlation between the Market Bunker Price...
https://www.hellenicshippingnews.com/mabux-bunker-market-this-morning-mar-02-2021/
With an eye on Japan’s goal of net-zero greenhouse gas emissions by 2050, Tokyo-based Anchor Ship Partners will launch a roughly 600 billion yen ($5.65 billion) vehicle as early as this month to aid decarbonization efforts in the shipping sector. The fund will purchase fuel-efficient new LNG...
Iraqi oil exports rose to 2.96 million barrels per day (bpd) in February from 2.868 million bpd the previous month, the Oil Ministry said. Exports from Iraq’s southern Basra terminals reached 2.825 million bpd in February, up from 2.77 million bpd the month before, the ministry added. Shipments...