Based on a proposal by the Commissioner for Budget and Human Resources, Günther H. Oettinger, today the European Commission has decided to send a Reasoned Opinion to the United Kingdom because of its failure to make customs duties available to the EU budget, as required by EU law. This is the...
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IMO 2020 to cause one-off oil demand surge before market adjusts: OPEC
Tighter global shipping pollution regulations from 2020 will lead to a temporary surge in oil demand while denting the oil revenues of producers of heavy or high sulfur crudes, OPEC said in its annual long-term oil forecast Sunday. The International Maritime Organization’s global marine fuels...
For bold Chinese buyers of soybeans, bargain U.S. prices trump trade war
At least two cargoes of U.S. soybeans are heading for China as some buyers are willing to risk taking up historically cheap U.S. beans even amid worries that Beijing may take further steps to deter imports amid mounting trade tensions with Washington. Grain traffic from the United States to China...
Chennai Petroleum cancels Iran oil imports
India’s Chennai Petroleum will stop processing Iranian crude oil from October to keep its insurance coverage once new sanctions by the United States against Iran go into effect, three sources familiar with the issue said. Iran’s Naftiran Intertrade Co Ltd, a trading arm for state-owned National...
https://www.hellenicshippingnews.com/chennai-petroleum-cancels-iran-oil-imports/
LOC Renewables Charts Course For Build-Out Of Port Infrastructure To Support Floating Offshore Wind
The development of floating offshore wind will be held up by the limitations of current port infrastructure, recent research has revealed. As part of the Floating Wind Joint Industry Report, published on behalf of the Carbon Trust, LOC Renewables, a world-leading marine and engineering consultancy,...
Klaveness Combination Carriers AS announces completion of USD 45.0 million private placement
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...
China imports 4.71 mln tonnes of liquefied natural gas in August
China imported 4.71 million tonnes of liquefied natural gas (LNG) in August, up 51.5 percent year on year, the country’s customs authority said. Total LNG imports in the first eight months reached 32.63 million tonnes, up 47.8 percent year on year, according to the General Administration of...
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/