Klaveness Combination Carriers AS (“KCC” or the “Company”), the leading owner and operator of modern combination carriers, announces the successful closing of the private placement of common shares as announced on 10 September 2018. The Company will issue 8,241,750 common shares at a subscription...
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Trump Trade War Is Dividing Farming World as China Demand Shifts
Soybeans have become something of a poster child for the U.S.-China trade war, with everyone from Treasury Secretary Steven Mnuchin to President Donald Trump opining on the humble oilseed. But the tariffs are also sparking some little-known consequences. One of the biggest impacts of China’s 25...
Iran confirms S. Korea’s halt of oil imports
Iran’s Ministry of Petroleum confirmed on Sunday that South Korea has halted oil imports from the Islamic republic. “It it for three successive months that South Korea has not imported oil from Iran,” public relations of the ministry announced. “South Korea was the first country to halt Iran’s oil...
https://www.hellenicshippingnews.com/iran-confirms-s-koreas-halt-of-oil-imports/
Ukraine: Feasibility study of concession of state stevedoring companies «Olvia» and «Kherson» was presented for acquaintance to potential investors
On 19th September, 2018 in Kiev, the International Finance Corporation (IFC) held a conference for potential participants of the upcoming contests for the selection of the concessionaire in ports of Olvia and Kherson. Representatives of more than 25 Ukrainian and foreign companies (USA, China,...
Allied’s Weekly Market Report – Week 38 2018
We have reached a fairly interesting point in the year for shipping markets, being just a breath away from the final quarter of the year Source: Allied Shipbroking
https://www.hellenicshippingnews.com/allieds-weekly-market-report-week-38-2018/
Oil at four-year high after OPEC rebuffs Trump, fails to raise output
Oil prices jumped more than 2 percent to a four-year high on Monday after OPEC declined to announce an immediate increase in production despite calls by U.S. President Donald Trump for action to raise global supply. Benchmark Brent crude hit its highest since November 2014 at $80.94 per barrel, up...
GRAINS-Soybeans extend declines as U.S.-China trade war drags
Chicago soybean futures slid for a second session on Monday as fears of a prolonged trade war between Washington and Beijing weighed on the market with new tariffs taking effect. Corn slid, but the market was trading close to its highest since Sept. 12 with prices underpinned by strong demand and...
https://www.hellenicshippingnews.com/grains-soybeans-extend-declines-as-u-s-china-trade-war-drags/
Petronas-Saudi RAPID refinery offloads first oil cargo
A supertanker carrying the first crude oil cargo to a refinery being jointly built by Malaysia’s Petronas and oil giant Saudi Aramco has arrived at Pengerang, as the two companies enter the commissioning and testing phase at the plant. Construction of the 300,000 barrels-per-day (bpd) refinery at...
https://www.hellenicshippingnews.com/petronas-saudi-rapid-refinery-offloads-first-oil-cargo/
Europe has capacity to recycle its ships, new data shows – yet shipowners want to use dangerous, polluting yards abroad
Ship recycling yards approved by the EU will have enough capacity to handle demand from EU-flagged ships that need to be scrapped, a new analysis shows. The shipping industry wants low-cost ship ‘breaking’ yards outside the EU – with dangerous working conditions and poor environmental standards –...
Saudi energy minister says OPEC/non-OPEC alliance ready to pump more in months ahead
Saudi energy minister Khalid al-Falih on Sunday rejected accusations by US President Donald Trump that OPEC was keeping oil prices elevated through anti-competitive behavior. OPEC has increased production “a good amount” since June, Falih noted, offsetting declines in member countries Iran and...