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Shares of Star Bulk Carriers (NASDAQ:SBLK) surged last year, even though it was a volatile one for dry bulk shipping rates. Overall, shares of the shipping company rallied 29.2%, which was just ahead of the S&P 500’s 28.9% gain. With the shipping stock surging last year, investors might be wondering if it has any more room to run. Here’s a look at the case for and against buying shares right now. The bull case for Star Bulk Carriers One of the drivers of last year’s rally was a move that ...

A shipbuilder and engine maker are among leading companies looking to develop a vessel that can run on ammonia as part of efforts to speed up carbon reductions in shipping through cleaner fuel options, officials said this week. The new project aims to design an oil tanker that can be fueled with ammonia and whose technology can be adapted to other types of ships, officials say. It brings together engine maker MAN Energy Solutions (MANG.DE), shipbuilder Samsung Heavy Industries (010140.KS), ship classification society Lloyd’s Register and maritime energy services company ...

East Africa and the Indian Ocean UK/Straits of Hormuz: British Royal Navy increase escort capability for British shipping in Straits of Hormuz 10 January The British Royal Navy will increase the complement of Royal Navy vessels to escort British-flagged commercial ships sailing through the Strait of Hormuz amid escalating tensions in the region. The Royal Navy previously escorted British ships in the area between July and November 2019, after the seizure of a British vessel by Iran. The decision comes following the increase in tensions between Iran and the US ...

Blue Water Shipping has been involved in providing logistical solutions to Italian clients for many years. To support and develop this business further Blue Water has established an office in Milan. The office will initially focus on serving clients in the oil and gas, power generation, renewables and infrastructure sectors. The ambition is to add other activities within other business areas later on. “It is a natural part of our development in the Energy and Project sector to have our own set-up in Italy. The industry is large, and we ...

AEGIR-Marine is expanding its global services network by opening a new office in Dubai, UAE. The maritime stern tube seal and propulsion system service provider will now operate out of offices in the Netherlands, Singapore, Shanghai, Namibia, USA and UAE. The Dubai service team will focus its activities on both the strong Middle East oil and gas industry in addition to the company’s core business of commercial vessels. AEGIR-Marine has been active in the Middle East for a number of years now. The company’s decision to open a permanent office ...

Antwerp XL is searching for the breakbulk industry’s 40 most dynamic and influential professionals under the age of 40 in a new initiative celebrating the next generation of the industry. Professionals working in the industry are encouraged to self-nominate if they are under 40, or nominate eligible colleagues if they believe they have contributed significantly to the sector. Mark Rimmer, Antwerp XL Divisional Director, says, “Attracting and retaining the next generation of talent is absolutely critical to the long-term success of the breakbulk industry. It’s where the industry’s future ideas, ...

Russian oil producer Surgutneftegaz plans to sell 100,000 tonnes of fuel oil via tender for delivery from the Baltic Sea port of Ust-Luga between Feb. 20 and 29, industry sources told Reuters on Friday. According to the sources, buyers were offered 100,000 tonnes of straight-run fuel oil with the sulphur content up to 3.0% produced at Kirishi refinery. Surgutneftegaz does not comment on its trading activity. The tender closes on Jan. 20, while results are to be announced on Jan. 21. Previously, Surgutneftegaz has sold up to 1.8 million tonnes ...

Russian oil producer Surgutneftegaz plans to sell 100,000 tonnes of fuel oil via tender for delivery from the Baltic Sea port of Ust-Luga between Feb. 20 and 29, industry sources told Reuters on Friday. According to the sources, buyers were offered 100,000 tonnes of straight-run fuel oil with the sulphur content up to 3.0% produced at Kirishi refinery. Surgutneftegaz does not comment on its trading activity. The tender closes on Jan. 20, while results are to be announced on Jan. 21. Previously, Surgutneftegaz has sold up to 1.8 million tonnes ...

Consultancy Strategie Grains increased sharply its forecast of European Union soft wheat exports this season, saying it saw the EU benefiting from strong overseas demand at a time of reduced availability in some other export zones. The French-based firm now expects EU exports of soft wheat, excluding durum, to reach 30.5 million tonnes in the 2019/20 season to June 30, up from its previous projection of 28.7 million in December. “The EU continues to benefit from strong global demand,” it said in its monthly grain report published on Thursday. “The ...

Egypt imported 6.32 million mt of thermal coal in 2019, up 31% on the previous year, according to official data from the Port of Alexandria, boosted by strong demand from the cement sector. Officials at the port confirmed that most of the coal loadings were of US origin. Egypt’s thermal coal imports experienced two consistently healthy years of growth with imports rising gradually in 2019 and spiking enormously by 174% in 2018 to total 4.81 million mt, from 1.75 million mt in 2017. Egypt’s largest cement producer El Arish Cement ...

Iran is relying on its neighbouring countries to sell a surplus of gasoil it has created at home due to U.S. sanctions, trade documents and industry data showed. Iranian oil products, like its crude, fall under U.S. sanctions, but Tehran has significantly increased exports of gasoil in recent months, to some countries in the region including Iraq and Syria, by offering massive discounts. Exports of gasoil, a refined product used in heating, power generation and transport, surged to around 95,000 barrels per day (bpd) in the fourth quarter of 2019, ...

U.S. soybeans edged lower on Friday and were on track to post their biggest weekly slide in five months on worries China will not honour its pledge to buy large amounts of U.S. supplies. Corn gained ground, but remained on course for its biggest weekly loss in a month, while wheat edged higher. The most active soybean futures on the Chicago Board Of Trade were down 0.1% at $9.23 a bushel after closing down 0.5% in the previous session when prices hit a Dec. 19 low of $9.22 a bushel. ...

Iraq is a “potentially vulnerable” oil supplier and heightened security concerns about OPEC’s second-biggest crude producer could make it more difficult to ensure sufficient spare production capacity, the International Energy Agency said on Thursday. “Recent events have shown that Iraq is a potentially vulnerable supplier, just as its strategic importance has grown,” the Paris-based agency said in its monthly report. “Today, both China and India receive about 1 million b/d of oil from Iraq and another 1 million b/d moves to various European countries. In India’s case, around 20% of ...

Oil prices edged higher on Friday but were little changed on the week as sluggish economic growth in China, the world’s biggest crude importer, raised concerns over fuel demand and countered optimism from the signing of a China-U.S. trade deal. The world’s second-largest economy grew by 6.1% in 2019, its slowest expansion in 29 years, government data showed on Friday. “A well-expected fourth-quarter China GDP rate (6%) provided little clue for oil price trading on Friday morning, and mounting downward economic pressure will perhaps limit oil’s upside in the mid ...

In its latest Short-Term Energy Outlook (STEO), released on January 14, the U.S. Energy Information Administration (EIA) forecasts that generation from natural gas-fired power plants in the electric power sector will grow by 1.3% in 2020. This growth rate would be the slowest growth rate in natural gas generation since 2017. EIA forecasts that generation from nonhydropower renewable energy sources, such as solar and wind, will grow by 15% in 2020—the fastest rate in four years. Forecast generation from coal-fired power plants declines by 13% in 2020. During the past ...