U.S. natural gas futures climbed about 3% on Thursday on forecasts for cooler weather and more demand next week than previously expected and with an increase in the amount of gas flowing to liquefied natural gas (LNG) export plants, including Freeport LNG. That price rise also came ahead of a...
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China: Oil consumption back to 2019 levels
China’s petroleum refining capacity is entering a new expansion phase with 85 million metric tons expected to be added from 2024 to 2027, experts said. Around 35 million tons of outdated petroleum refining capacity will be optimized to boost high-quality development of the industry, they added. The...
https://www.hellenicshippingnews.com/china-oil-consumption-back-to-2019-levels/
Collective Efforts to Strengthen Maritime Cybersecurity
Collective Efforts to Strengthen Maritime Cybersecurity The Maritime and Port Authority of Singapore (MPA) today signed two memorandum of understanding (MoUs) at the Accelerating Decarbonisation and Digitalisation Conference, during the Singapore Maritime Week 2024. The first MoU, signed between...
https://www.hellenicshippingnews.com/collective-efforts-to-strengthen-maritime-cybersecurity/
Rising oil is still the big market risk despite today’s pullback, analysts say
Markets kept their cool on Monday amid a fast-moving and volatile geopolitical landscape in the Middle East — but the longer-term risk premium has likely risen, while oil prices remain on edge, analysts said. Iran launched more than 300 drones and missiles against military targets in Israel on...
Japan oil refiners to tap reserves in case of Middle East disruption
Japanese oil refiners see no immediate impact from escalating tensions in the Middle East on their crude procurement, but will use the country’s reserves in case of contingencies to ensure stable oil supplies, the industry group’s head said. “We don’t believe that there are any obstacles to the...
Zero Emission Maritime Buyers Alliance (ZEMBA) Announces Successful Completion of Inaugural Collective Tender
Today, ZEMBA announced the successful conclusion of its first tender for ocean shipping that achieves at least a 90% reduction of greenhouse gases on a lifecycle basis relative to fossil fuel powered service. Through this deal, more than a dozen ZEMBA members including founding members Amazon,...
EPS strengthens green collaboration with MPA with six Singapore-registered Ammonia Dual-fuel Newbuilds
Eastern Pacific Shipping (EPS) signs Memorandums of Understanding (MoUs) with the Maritime and Port Authority of Singapore (MPA) and classification societies, ABS and Lloyd’s Register, committing six of its Ammonia dual-fuel newbuilds to be registered under the Singapore Registry of Ships (SRS)...
US imports of Mexican crude drop to record low for second straight week, EIA says
U.S. weekly imports of Mexican crude oil last week fell to the lowest on record for the second week in a row, as Mexico’s state energy company Pemex cut exports to supply more to its domestic refineries. The imports dropped to 208,000 barrels per day (bpd) in the week ended April 12, data from the...
Oil extends losses on easing Middle East tension, demand concerns
Oil prices extended losses on Thursday after a 3% drop in the previous session, as investors switched focus to signs that a wider conflict in the key Middle East could be avoided, as well as demand concerns. Brent futures were down 63 cents, or 0.72%, at $86.66 a barrel, while U.S. West Texas...
ClassNK commences joint research project with JAXA on material compatibility evaluation methods for liquefied oxygen (LOX)
ClassNK has commenced joint research with the Japan Aerospace Exploration Agency (JAXA) to establish an evaluation method for the compatibility of ship materials with liquefied oxygen (LOX). The aim is to contribute to suppressing fire accidents on ships handling liquefied hydrogen, where LOX could...