Iranian minister of petroleum has welcomed OPECs decision effectively rebuffing President Donald Trump’s calls for a hike in oil output, saying US empty dream to zero Irans oil exports would not realize. ‘The US seeks to reduce Iranian oil exports to zero even for a month, but that dream would not...
https://www.hellenicshippingnews.com/opec-responds-negatively-to-us-demand-iran/
China and India’s LPG demand has slowed compared to the past few years, according to ESAI Energy’s newly published Global NGL Outlook. The two markets have been the locomotives of global demand growth, accounting for a combined 190,000 b/d increase in demand last year. This year, however, demand...
https://www.hellenicshippingnews.com/global-lpg-demand-growth-falters/
Considering the expected growth in US LNG exports over the next several years, it is natural to focus on the developers, construction contractors, regulators and contract pricing mechanisms that enable the resources to flow. But, what happens at the next step in the LNG value chain when cargoes get...
https://www.hellenicshippingnews.com/an-lng-cargos-journey-is-just-beginning-when-it-reaches-port/
The liquefied natural gas (LNG) tanker Ougarta is due to arrive at Britain’s Isle of Grain port on Sept. 27, Reuters shipping data showed. The tanker, which has the capacity for about 172,000 cubic metres of gas, is arriving from Algeria. Source: Reuters (Reporting by Lefteris Karagiannopoulos;...
Last week, Donald Trump attacked the Organization of Petroleum Exporting Countries (OPEC) in yet another extension of what has become a semi-regular war of words over oil prices. Rather than engaging Trump in a twitter battle, the Saudi oil minister, Khalid al-Falih, responded from Algeria on...
https://www.hellenicshippingnews.com/saudi-arabia-and-russia-fire-back-at-trump-on-oil-prices/
Hedge fund managers made only minor adjustments to their overall position in petroleum futures and options in the latest week but continued their rotation out of West Texas Intermediate into Brent. Hedge funds and other money managers raised their combined net long position in the six most...
https://www.hellenicshippingnews.com/hedge-funds-bet-on-shortage-of-brent-oil-kemp/
Healthy economic growth will likely continue driving Asian oil and fuel demand growth in the coming decades, but the strong uptrend in international crude prices this year and the recent sharp depreciation in emerging market Asian currencies could hit regional consumer confidence in the short term,...
The decision of 2M carriers Maersk Line and MSC to suspend the ULCV-deployed AE2 Asia-North Europe service won’t raise freight rates, but should temper the decline in the slow demand months ahead. This is an extract from the upcoming Container Forecaster to be published at the end of September. It...
Global multipurpose operator AAL has announced the appointment of Michael Morland to the role of General Manager Americas. Following AAL’s appointment of Marc Schutzbier as its Canadian Commercial Manager at the end of 2017, Michael’s appointment continues to strengthen AAL’s North American...
Royal Dutch Shell wants to reweight its footprint in Nigeria to focus on oil and gas fields far offshore, away from the theft, spills, corruption and unrest that have plagued the West African country’s onshore industry for decades. But for the company that pioneered Nigeria’s oil industry in the...
https://www.hellenicshippingnews.com/in-nigeria-shells-onshore-roots-still-run-deep/