Oil prices rose nearly 2% on Wednesday following a drawdown in U.S. crude inventories from record highs and a string of positive manufacturing data, but a surge in coronavirus cases tempered gains
State conglomerate Dubai World, whose assets include global port operator DP World, said on Tuesday it had made a final payment of $8.2 billion to creditors
China’s environment ministry said it would keep up its system of approving import quotas for solid waste, including scrap metal, until the end of 2020
Chesapeake Energy, the emblem of the American revolution for shale, is facing bankruptcy following the collapse of oil and gas prices linked to coronavirus
Asian spot liquefied natural gas prices remained steady this week on a continued stream of spot supply even though traders continued to cancel cargoes loading from the United States due to poor economics
Poland has signed contracts worth 1.9 billion zlotys ($483 million) to expand its liquefied natural gas (LNG) terminal in Swinoujscie to 8.3 billion cubic metres (bcm) by 2023 from 5 bcm now in response to increasing domestic demand.
London - The International Chamber of Shipping (ICS) and The Oil Companies International Marine Forum (OCIMF), in conjunction with the International Association of Ports and Harbors (IAPH) have published an updated edition of the International Safety Guide for Oil Tankers and Terminals (ISGOTT). The seminal text has been updated and enhanced
Teheran - Another Iranian oil tanker is en route to Venezuela, as the Islamic Republic of Iran continues to defy the sanctions put on both the nations (Iran and Venezuela) by the United States of America’s (USA). As per various reports received, the Iran-flagged "Golsan" is en route to Venezuela and is expected to dock soon
Tripoli - 14 Ukrainian seafarers who were arrested off Libya in 2017 have finally returned home. None of them were ever formally charged with a crime, but officials in Tripoli held them for more than three years. The Ukrainian crew and their ship, the product tanker "Ruta", were intercepted by Libyan Navy forces in April 2017 and detained for allegedly smuggling a cargo of diesel
Buyers of liquefied natural gas (LNG) are expected to cancel 40 to 45 cargoes for August loading from the United States due to a slow recovery in Asian gas demand and record high European gas stocks
Iran could send two to three cargoes a month in regular gasoline sales to ally Venezuela, sources say, helping offload domestic oversupply but risking retaliation from U.S. President Donald Trump who has sanctions on both nations.
Bruxelles - The European Commission has approved the prolongation until the end of 2023 of various Italian support measures for maritime transport under Italy’s International Registry scheme
The Kinisis, a ship carrying liquefied natural gas from Trinidad, arrived at Dominion Energy Inc’s Cove Point LNG plant in Maryland on Saturday as some energy firms look to send cargoes to the United States with stockpiles in Europe filling fast
U.S. sanctions imposed on Iran’s shipping network took effect on Monday, months after they were announced in December following accusations of supporting proliferation of weapons of mass destruction.
More than 70 ships are lined up at Brazil’s port of Santos to load sugar for export in a queue that may take a month to clear after buyers worldwide scrambled to get ahead of possible disruption caused by the ravages of the coronavirus pandemic
Trondheim - A drone has successfully inspected a 19.4 meter high oil tank on board a Floating Production, Storage and Offloading vessel. The video shot by the drone was interpreted in real-time by an algorithm to detect cracks in the structure. It is the latest step in a technology qualification process that could lead to tank inspections becoming safer and more efficient
Shanghai - Hu Wenming, the former chairman and Party chief of China Shipbuilding Industry Corporation (CSIC), is under investigation for "suspected serious violations of discipline and law," according to Chinese anti-corruption investigators
The government is offering debt and tax holidays and an $80 cash handout to needy families. "Losses of firms are being assessed. We are ready to provide financial support. Even self-employed people such as taxi drivers and hairdressers will be helped," Tebboune said
Hamburg - DNV GL, the world’s leading classification society, has launched a new certification in infection prevention for the maritime industry. The release of this custom certification aims to help the maritime industry resume operations better prepared for COVID-19 or other emerging pathogens. Genting Cruise Lines is the first customer working towards the CIP-M certification for their vessel “Explorer Dream”
Panama City - Panama’s maritime authorities issued a stern warning to all Panamanian flagged vessels seen as another crackdown on common tactics used by ships trying to avoid international restrictions or hide their activities. Panama’s directive follows the United States that recently highlighted the tactics used by illegal shippers and rogue nations
Doha - Qatar has signed a deal worth around $20 billion with South Korean shipbuilders to help cement its position as the world’s largest producer of liquefied natural gas. The Gulf emirate entered into agreements with Daewoo Shipbuilding & Marine Engineering Co., Hyundai Heavy Industries Co. and Samsung Heavy Industries Co
Ship assessors are resorting to virtual inspections of oil tankers to keep vessels afloat, as the coronavirus pandemic makes physical visits to check for seaworthiness tougher and a slump in fuel demand increases the need for ships as storage
The first of five Iranian tankers carrying fuel to Venezuela has moored at a port serving the South American country’s El Palito refinery, the nation’s oil minister said Monda
China is targeting a 2020 budget deficit of at least 3.6% of GDP, above last year's 2.8%, and fixed the quota on local-government special bond issuance at 3.75 trillion yuan ($527 billion), up from 2.15 trillion yuan, according to Li
Guaido said the fact President Nicolas Maduro's socialist government is importing fuel shows its mismanagement of the country's oil industry. Venezuela's refining network has 1.3 million barrels per day (bpd) of capacity, but has collapsed after years of underinvestment
U.S. crude prices settled about 3% lower on Tuesday after data showing domestic stockpiles didn’t rise as high as had been expected given tightening storage, despite pledges to cut production from May 1.
Saudi Arabia is looking into re-routing millions of barrels of oil onboard tankers sailing to the United States if President Donald Trump decides to block imports of crude from the Kingdom, shipping and trade sources say
Seoul - President Moon Jae-in said Thursday that South Korea’s shipping sector has set sail toward a renaissance with the introduction of the world’s largest container ship. He was attending a ceremony to christen the 24,000-TEU vessel, the "Algeciras", for use by the South Korean shipper HMM
London - Preliminary first -quarter GDP estimates for several euro zone member countries and for the currency area itself will make the coming week extremely busy. We expect the numbers to be awful. Whole swaths of the European economies were forced to shut down in March owing to the COVID -19 crisis
Norway plans to extend its no-go zone for oil exploration in the country's Arctic waters but stopped short of areas for which licences have already been granted to oil companies
Tim Walters, who was part of a "Reopen Maryland" protest over the weekend in which hundreds of people drove through the state capital Annapolis, said concerns about the virus must be kept in perspective and weighed against the economic toll of lockdowns
Behind a Saudi-Russian truce to stabilise oil markets with a record output cut, market players are seeing the two production heavyweights still trading blows in the physical market
Washington - The U.S. Energy Department is negotiating with nine companies to rent about 23 million barrels of oil storage capacity in its Strategic Petroleum Reserve as part of a Trump administration bid to help drain the country’s growing glut of crude
Having been in a stand-off with western nations from 2014 on everything from Crimea's annexation from Ukraine to allegations of election meddling, Moscow has sought to rebuild ties since the coronavirus outbreak. It sent medical support to Italy and the United States to fight the pandemic and has supported the historic oil supply pact
Tankers carrying U.S. liquefied natural gas (LNG) are on their way to China after Beijing started granting tax waivers to some importers, shipping and trade sources sai
On Monday, it reported 637 fatalities in the previous 24 hours - a 5% increase in total and less than half the pace recorded a week earlier
A supply deal between OPEC, Russia and other producers, a group known as OPEC+, that had propped up oil prices for three years collapsed in March, just as the impact of lockdowns to limit the spread of the new coronavirus destroyed demand
A shareholder of Inovio Pharmaceuticals filed a class action complaint on March 16 against the company and its chief executive, citing "misstatements" that the company had developed a coronavirus vaccine in three hours
"At the hospital level we are being able to give response to all the cases that are arriving but we are at the limit, we are at maximum stress," Catalan regional government chief Torra said in an interview
The Covid-19 pandemic is teaching western nations exactly what their crisis response capabilities actually are, while considerable benefit will be gained from this, unfortunately, not all of those analysing our performance are our friends.
China should issue at least 2 trillion yuan ($282 billion) of such bonds to aid the economy, Morgan Stanley Chief China Economist Robin Xing said
Traders have chartered at least five supertankers in the past day with options to store oil at sea as global stocks mount after the United States ditched plans to purchase oil for its emergency reserve, shipping sources said on Friday
It was the first time in nearly 70 years that the government canceled a raft of referendums. Votes in 1951 were abandoned due to the spread of foot and mouth disease
The carrier has announced temporary layoffs of 90% of its staff as the coronavirus outbreak brought global aviation to a near standstill.
Buckingham Palace said the couple were aware of the need to avoid taking any unnecessary risks and had reviewed their plans in light of government advice
The latest national death toll figures are due to be released later in the day. On Tuesday, the country-wide tally stood at 2,503
Italy is preparing measures to defend companies considered strategically important from foreign takeovers, two government officials said on Wednesda
New York - U.S. Senate Majority Leader Mitch McConnell expects the chamber on Wednesday to pass an economic relief bill already approved by the House of Representatives, and then work on legislation aimed at aiding small businesses
The country will initially spend 1 trillion pesos on the healthcare system and some 500 billion pesos on additional payments to social welfare programs for families, young people and the elderly, but can increase those figures as needed
Chi salvare? E a quali condizioni? L'analisi del professor Maurizio Maresca
PetroChina and China Petroleum & Chemical or Sinopec, are expected to trim their annual production by 2 to 3 per cent, similar to that seen in the last oil recession in 2014 , according to Neil Beveridge, senior analyst in Hong Kong at Sanford C. Bernstein & Co
By ASLA - Associazione degli Studi Legali Associati
Kuwait has barred foreign ships, except those carrying oil, from departing to or arriving from several countries to prevent the spread of the coronavirus
The Norwegian classification society DNV GL has launched a venture fund to invest in industry 4.0
Mercantile & Maritime said on Monday it would terminate its shipments of Venezuelan oil for Rosneft after the United States imposed sanctions on the Russian oil firm’s Swiss trading unit
South Korea is on track to overtake Canada as the top buyer of U.S. crude oil in 2020 as a mix of steep price discounts to alternative supplies, attractive refining economics and rebates on shipping charges prove too good to resist for big refiners
Genova - Only people from the shipping industry recognize him at first sight: the young manager sitting at the table in the corner of the Genoese restaurant is the president of an almost legendary institution
By ASLA - Assocazione degli Studi Legali Associati
France’s Total is considering stopping sales of fuel oil to power markets as the energy giant seeks to reduce its carbon footprint and grow its renewable power business
Record low prices for liquefied natural gas are roiling the global gas market, creating havoc as traders rush to find alternative locations for cargoes with Chinese buyers rejecting shipments amid the coronavirus epidemic
China’s eastern province of Zhejiang, the second worst-hit by the coronavirus epidemic, will push major exporters to be the first to return to work after the extended Lunar New Year holiday
Trading companies Mercuria, Trafigura and United Arab Emirates-based GP Global have applied for licenses to supply marine fuel to ships in Singapore, the world’s top bunkering hub
During 2019, the port handled 5,231,418 loaded TEUs, surpassing the loaded imports handled by the Port of Long Beach, elevating the port to No. 2 in the nation for the first time in two decades
Lithuania's oil and LNG terminals operator Klaipėdos Nafta has been appointed as the operator of a liquefied natural gas
Botta: "At Fruit Logistica in Berlin, Liguria will speak with one voice"
Credit Suisse, BNP Paribas and French public investment bank Bpifrance are the latest lenders to join an initiative to link provision of shipping finance to cuts in carbon dioxide emissions
By ASLA - Associazione degli Studi Legali Associati
Since Saras launched its very low-sulphur fuel oil (VLSFO) blend in early September its sales have topped 120,000 tonnes, an executive at the Italian refiner said
PetroChina’s Singapore bunkering unit moved up a notch to be the top marine fuel supplier in the world’s biggest ship refuelling hub in 2019, official data showed, as the overall number of suppliers fell for a sixth year in a row
The deal follows a similar deal by France’s Total announced last week and a 0.5 million tonnes per year deal with commodity trader Vitol signed in December
With 25% tariff on LNG still in play, the Phase-1 deal between the US and China is not expected to bring any significant change in the LNG trade between the two countries, writes research firm Drewry
At least $1 trillion of investment in new fuel technology is needed to enable the shipping industry to meet U.N. targets for cuts in carbon emissions by 2050
The executive overseeing the busiest U.S. gateway for ocean trade with China on Thursday said the “weaponization of tariffs” to advance U.S. policy interests may now be the “new normal.”
Ørsted, the largest energy company in Denmark, has started constructing its first offshore wind farm in the Netherlands
U.S. refiners are scooping up cheap high-sulfur fuel oil for processing from Russia and the Baltic states as they take advantage of new shipping rules that have cut demand for the dirtier marine fuel, according to oil traders and shipping data
Global supplies of marine fuel compliant with new environmental rules are increasing fast as concerns over quality remain marginal
Attorneys general from 16 U.S. states have opposed a Trump administration proposal to ship liquefied natural gas by rail
A Russian gas tanker that is used to secure energy supplies in the west Russian enclave of Kaliningrad has arrived back in the region after being leased out to transport U.S.-produced LNG to Europe
Strikes over pension reform in France could slow grain exports from this month by preventing enough supplies from reaching ports and by making the French crop too expensive to compete overseas
With his death, the region loses a trusted and seasoned leader, seen as the father of modern Oman, who balanced ties between two neighbours locked in a regional struggle, Saudi Arabia to the west and Iran to the north, as well as the United States
The capesize index fell 89 points, or 7.7%, to 1,066 – its lowest since April 29. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes including iron ore and coal, increased $239 to $9,438
Ships globally have switched to lower sulphur fuels, or use emissions-removing devices, to comply with new rules imposed by the International Maritime Organization this year
Moody's has today upgraded by two notches the long-term ratings of Norddeutsche Landesbank GZ, NordLB, and its rated subsidiaries. NordLB's long-term senior unsecured debt and deposit ratings were upgraded to A3 from Baa2
The presidents of Turkey and Russia on Wednesday formally launched the TurkStream pipeline which will carry Russian natural gas to southern Europe through Turkey, part of Moscow’s efforts to reduce shipments via Ukraine
China will not increase its annual low-tariff import quotas for corn, wheat and rice to accommodate stepped-up purchases of farm goods from the United States, senior agriculture official Han Jun said on Tuesday
The U.S. central bank last month signaled interest rates could remain unchanged at least through this year, after lowering borrowing costs three times in 2019
The Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region reports to China's State Council or Cabinet, and is the main platform for Beijing to project its influence in the city
The Black Sea Hazelnut and Products Exporters' Union reported that Turkey earned $1.09 billion from hazelnut exports during the first four months of the season, which starts in September and ends in August
The Chinese trade delegation plans to sign the first phase of its trade deal with the U.S. in Washington on Jan. 15, writes Bloomberg News quoting people familiar with the matter
State-run Qatar Petroleum (QP) said on Sunday it had signed a 15-year agreement to supply Kuwait with up to 3 million tonnes of liquefied natural gas (LNG) per year.
Russian pipeline operator Transneft said Russian oil companies have not sent any oil to Belarus since Jan. 1, the TASS news agency reported
U.S. strike kills Iranian General Soleimani in Iraq. Iran's supreme leader vows revenge
Asian refining margins for 10 ppm gasoil climbed to their highest in over a month buoyed by expectations of firmer near-term demand as the shipping industry switches to cleaner marine fuels
Swiss-Dutch company Allseas said it had suspended its pipe-laying activities in the Nord Stream 2 Russia-to-Germany natural gas pipeline
The NordLb has received the hoped-for capital injection. The shareholders paid 2.8 billion euros into the share capital.
Warda said in a statement to the delegate of SANA that (SIAMCO) continues to produce cars within the framework of cooperation between Iran and Syria and in line with the absorptive capacity of the market
Non-oil trade between the UAE and Egypt, the most populous Arab country, last year reached Dh20.1 billion
Brussels - An adviser at the EU Court of Justice agreed with Croatia on Wednesday that settling the border between Slovenia and Croatia was not a matter on which EU courts should rule.
London - China’s bitcoin miners now control two-thirds of the crypto network’s processing power, research showed on Wednesday, a growing share that is likely to benefit the country’s miners.
Seoul - South Korea’s auto exports are tipped to suffer a slump for the seventh consecutive year in 2019 in terms of volume due to lower demand in emerging markets
