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The Robot Ship Set to Cross the Atlantic and Change the World

The blocky, 36-foot-long, yellow- and white-striped vessel bobbing off the coast of the United Kingdom sure doesn’t look like much. But Maxlimer just might be the most important ship in the world right now. Maxlimer is totally robotic. And it’s poised to be the first unmanned surface vessel, or USV, to cross the Atlantic. The journey could prove the case for a host of new oceangoing drones: crewless cargo ships; unmanned oil tankers; robotic work boats. But don’t hold your breath. Widespread adoption could take years or even decades. Maxlimer ...

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Ship Owners Move to Harness $3.5bn Nigerian Content in Oil Industry

The President of the Ship Owners Association of Nigeria (SOAN), Dr Mkgeorge Onyung, has stressed the need for capacity building by ship owners to benefit from opportunities in the Nigerian oil and gas industry. He said the abolition of cabotage waivers in the next five years throws up a lot of opportunities in the area of ship-building yards, ship repair yards and acquisitions of assets, adding that the industry spend within the next five years was estimated to be in the region of $3.5 billion. He stated this over the ...

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Hamad Port carves a niche for itself among world’s top container ports

Within a short span of time after starting its operations, Hamad Port has been ranked among world’s top 120 container ports. QTerminals announced on its Twitter account yesterday that Hamad Port has been placed at number 114 in top 120 container ports ranking of 2018. “Hamad Port has entered the top 120 container ports ranking for 2018. Hamad Port is now ranked number 114 globally. The top 120 ports list is released annually by Container Management magazine,” said the tweet of QTerminals. Sharing some more information in the thread, QTerminals ...

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How Port Community System, an e-commerce portal, is changing India’s maritime infrastructure

That India’s ranking on World Bank’s ease of doing business index improved from 100 in 2017 to 77 in 2018 has made news. What isn’t well known is that a vital role in this jump was played by the IT-enabled integration of India’s maritime infrastructure. While the Port Community System (PCS), an e-commerce portal, was introduced by the Indian Ports Association (IPA) in record time, efforts are already underway to shift to PCS1x, an upgraded version of the programme, which would allow India to move up further on the ease ...

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Caught in tariff war, Sinopec seeks waiver for imported U.S. oil – sources

China Petroleum & Chemical Corp, or Sinopec, is seeking a tariff exemption for U.S. oil being imported in coming months, sources familiar with the matter said, after Beijing late last week imposed retaliatory tariffs on U.S. goods, including crude oil. The largest refiner in Asia is expected to receive four supertankers carrying 8 million barrels of U.S. crude at Tianjin in September and October, according to the sources, data from analytics companies Refinitiv and Kpler. On Friday, China announced its latest round of punitive tariffs against about $75 billion worth ...

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US Midwest to see more gas supply this winter on flows from Canada, Bakken: data

More natural gas looks likely to flood the US Upper Midwest this winter due to an increase in contracted exports from Canada and output from North Dakota’s Bakken Shale. Index of Customer data along with expectations from the Bakken suggest net exports to the US Midwest should increase about 100 MMcf/d this winter compared with last. Western Canada exported 4 Bcf/d to the US Midwest in the winter of 2018-2019, according to S&P Global Platts Analytics. Contracts indicate exports on Great Lakes Gas Transmission, Viking Gas Transmission and Alliance Pipeline ...

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Indonesia’s Pertamina considers exporting jet fuel due to high stocks

Indonesia state oil and gas company PT Pertamina is looking to possibly export its excess supply of jet fuel, finance director, Pahala Mansury, told reporters. “In term of volume it’s not too big,” he said. “We need to lower our inventory by exporting or processing them into other products.” Pertamina’s output of fuel products rose after completion of its Blue Sky project in Cilacap earlier this year, Mansury said. Pertamina said it in April it has stopped imports of jet fuel as inventory amid sluggish appetite from airlines. Source: Reuters ...

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US corn inspected for export drops 49% on year, rises 25% on week: USDA

US corn inspected for export in the week ended August 22 totaled 639,154 mt, a 49% drop from the year-ago week, US Department of Agriculture data showed. The total rose 25% week on week in the most recent reporting period, according to the USDA’s weekly Federal Grain Inspection Service report. The largest share of US grain exports inspected last week was taken by soybeans, at 45%. Corn was second at 30%, followed by wheat at 23%. Since the 2018-19 marketing year began September 1, US corn inspected for export up ...

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China’s tariffs on U.S. commodities and energy

In the escalating China-U.S. trade war Beijing on Aug. 23 retaliated with tariffs on about $75 billion worth of U.S. goods including imposing additional tariffs on crude oil for the first time. Below is a list and timeline of some key U.S. commodities and energy items on which China has imposed tariffs. Crude Beijing announced on Friday it would impose 5% tariff U.S. crude oil from Sept. 1, the first time U.S. oil is targeted since the trade war between the two giant economies started more than a year ago. ...

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Sixteen mines in the Powder River Basin produce 43% of U.S. coal

More than 40% of coal produced in the United States comes from 16 mines in the Powder River Basin (PRB), a mining region primarily located in northeast Wyoming and southeast Montana. Four companies collectively own more than half of those PRB mines, and those 10 mines produced 87% of the Basin’s coal in 2018. Two of those companies, Cloud Peak and Blackjewel, filed bankruptcy this year. The two other companies, Peabody and Arch Coal, are proposing a joint venture that involves some of the PRB mines. Most of the coal ...

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Wheat extends fall on ample supplies; corn struggles

Chicago wheat futures slid for a second session on Tuesday, as the trading sentiment was marred by abundant global supplies following bumper harvests in top exporting countries. Corn fell for a third consecutive session on pressure from crop-friendly weather across the U.S. Midwest. FUNDAMENTALS * The most-active wheat contract on the Chicago Board Of Trade (CBOT) lost 0.2% at $4.74-1/4 a bushel by 0057 GMT, having closed down 0.5% on Monday. Corn gave up 0.1% to $3.68 a bushel and soybeans were down 0.2% at $8.65-1/4 a bushel. * Wheat ...

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How The Trade War Impacts The Oil Industry

The ongoing trade war with China is impacting many industries. Market volatility is being exacerbated by President Trump’s pattern of vacillating between threats and cease-fires on the topic. At the beginning of August, the markets were sent into a tailspin by President Trump’s threat to impose tariffs on another $300 billion of Chinese imports. The markets were broadly impacted, but the energy sector was hit especially hard. Crude oil prices suffered their largest drop in over four years. President Trump subsequently backed off, citing concerns about retail spending headed into ...

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Oil rises as hopes grow for U.S.-China trade breakthrough

Oil prices rose on Tuesday after U.S. President Donald Trump predicted a trade deal with China following positive comments by Beijing, calming concerns raised by an earlier round of tit-for-tat tariff hikes. Brent crude was up 39 cents, or 0.7%, at $59.09 a barrel by 1220 GMT, after falling 1% in the previous session. Tuesday’s slide was the third daily decline in a row. U.S. West Texas Intermediate crude futures were up 57 cents, or 1.1%, at $54.21, after a 1% fall on Monday and heading for a fourth daily ...

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See higher demand for crude in second half of the year, says Edward Morse of Citi

Edward Morse, managing director and Global Head-Commodities of Citi, in an interview with CNBC-TV18, said that crude demand will climb higher in the second half of the year. He said most of the demand for crude would come in from South Asia, East Asia. Talking about India, he said, “The economic outlook still looks healthy for India, so expect a pickup in demand from there.” The commodities in the week gone by were quite volatile. Crude prices gained, up by about 2.5 percent for Brent, while the US Crude was ...

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High Stakes For Subsea Markets If Oil Price Slides

The subsea market in 2019 will experience year-on-year growth for the first time since 2014, but the positive outlook is vulnerable to any significant decline in oil prices over the next few years. “We expect the subsea market to thrive during the coming years, but market growth will be at risk if the oil price falls to $50 per barrel,” says Henning Bjørvik, an analyst on Rystad Energy’s oilfield service team. Rystad Energy, the independent energy research and consulting firm headquartered in Norway, has analyzed the outlook for global subsea ...

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