Home / Author Archives: hellenicshippingnews. (page 1590)

Author Archives: hellenicshippingnews.

VLCC Takamatsu Maru Recognized for Contribution to Marine Weather Forecasts

NYK-operated Takamatsu Maru, a very large crude oil carrier (VLCC) has been awarded the Meteorological Agency’s Director-General Award for the contribution the ship has made to meteorological business development by observing marine weather conditions and transmitting observation results over an extended period of time. On June 3, a ceremony was held in Tokyo, and Kazumasa Okazaki, corporate officer of NYK, received a letter of appreciation from the director-general. Every year, Japan’s minister of Land, Infrastructure and Transport (MLIT), together with the director-general of the Japan Meteorological Agency, commend vessels that ...

Read More »

SevenCs and TELKO enter into cooperation agreement

SevenCs and TELKO have announced a cooperation agreement relating to the use of the Nautilus SDK Kernel in the development of TELKO’s new TECDIS units and cooperation regarding the distribution of electronic navigational data between the two companies. SevenCs’ Nautilus Kernel is the world’s leading software development kit (SDK) for ECDIS applications. It is S-100 compliant and allows for the loading and display of multiple maritime and military chart formats, fulfilling the IMO, IHO and IEC requirements for type-approved bridge equipment. The Nautilus ECDIS Kernel also provides fast and easy ...

Read More »

Intellian Doubles Down With Advanced New 1 Meter Dual-Band Maritime VSAT Antenna

Intellian, the global leader of mobile satellite communication antenna systems is delighted to announce the unveiling of the v100NX, the all-new 1m Ku- to Ka-band convertible maritime VSAT terminal. Intellian’s latest NX series antenna is designed to simplify and streamline the entire VSAT lifecycle, enabling access to multiple global satellite communication services, providing the crucial connectivity required to leverage new efficiency and welfare enhancing digital applications. The Intellian v100NX is a cutting-edge 1m dual-band convertible antenna, future-proof through its GEO (Geostationary Earth Orbit), MEO (Medium Earth Orbit) and LEO (Low ...

Read More »

WFW advises Teekay on US$250m private offering

Watson Farley & Williams (“WFW”) advised long-standing client Teekay Corporation (“Teekay”) on its offering of US$250m 9.25% senior secured notes due November 2022 and Teekay’s cash tender offer to purchase any and all of its outstanding $497.7m of 8.5% senior notes due 2020. WFW advised on the New York, Marshall Islands and English law aspects of the transactions, including relating to certain collateral security granted on the notes. Teekay is a leading provider of international crude oil and gas marine transportation services and also provides offshore production and logistics. Teekay ...

Read More »

Yilport moves on from LBCT loss

Yildirim Group has said it is looking ahead to ‘new opportunities” and anticipates singing a deal to develop a container terminal in Gulfport, Mississippi, US. Speaking after its subsidiary Yilport Holding lost out on the Long Beach Container Terminal concession when Orient Overseas (International) Limited (OOIL) decided to award it to Australia’s Macquarie Group last month, the company’s director of government affairs and corporate relations, Kemal Ekin Aysel, said the concession decision was a “disappointment” but it wouldn’t be commenting further. “We will not comment further on the LBCT deal, ...

Read More »

Rosneft to ship extra 875,000 T of oil from ports in June – Transneft

Russia’s Rosneft will ship an additional 875,000 tonnes of oil from ports this month following the contamination of the Druzhba pipeline, Russian oil pipeline monopoly Transneft said. Source: Reuters (Reporting by Olesya Astakhova, Maria Tsvetkova and Vladimir Soldatkin; Editing by Dale Hudson)

Read More »

Sharp hikes in ADNOC crude OSPs likely to weaken market for Aug cargoes: traders

Middle Eastern sour crude traders expressed surprise Tuesday at the sharp hikes in crude oil official selling prices for Abu Dhabi National Oil Co.’s May-loading cargoes, adding that the increase will likely strip away value for Abu Dhabi grades set to trade later this month. ADNOC, in a notice released on Sunday, June 2, raised the May crude oil OSPs for its four mainstay grades by 78-98 cents/b month on month when priced as a differential against Platts Dubai crude assessments. The company’s newest light, sour grade Umm Lulu crude, ...

Read More »

Australia’s Ichthys LNG plant offers 2 cargoes for June loading – sources

Australia’s Ichthys liquefied natural gas (LNG) plant has offered two cargoes for loading in June, two industry sources said. Both the cargoes are for loading in the second half of June, one of them said. Bids are due by June 6, the source added. Source: Reuters (Reporting by Jessica Jaganathan; Editing by Subhranshu Sahu)

Read More »

China central bank urges calm after Baoshang takeover

China’s central bank sought to calm investors on Sunday after last month’s takeover of Inner Mongolia-based Baoshang Bank, saying regulators are not planning any more such moves for the moment. The China Banking and Insurance Regulatory Commission (CBIRC) took control of Baoshang on May 24, rattling Chinese markets and prompting the People’s Bank of China (PBOC) to inject cash into the banking system. In response to concerns that regulators planned more takeovers of financial institutions, the PBOC said on Sunday that Baoshang was a standalone case. “Everyone, please don’t worry. ...

Read More »

Coking coal and iron ore derivatives volume spike in May

The Singapore Stock Exchange reported Monday a total volume of 1.27 million mt of coking coal traded in May in the PHCC FOB Australia futures contract. This was up 76.9% from April, and was the highest monthly trading volume since April 2018 when the PHCC FOB Australia futures contract traded 1.69 million mt in total. A new all-time high of 2.91 million mt was also recorded for the combined open interest of futures and options on Thursday, before the May contract went into cash settlement on Friday. A broker said ...

Read More »

Wheat falls as much as 2% to hit near one-week low

U.S. wheat futures fell as much as 2% on Wednesday as fears eased about the potential for widespread crop damage after recent heavy rains, pushing prices to a near one-week low. Corn fell nearly 1.5%, and soybeans dipped 0.6%. Wheat later pared some of its losses after a report showed that crop damage was not as bad as thought, with the most active wheat contract on the Chicago Board of Trade down 0.8 percent at $5.03 a bushel by 0544 GMT. It earlier hit a session low of $4.96-3/4 a ...

Read More »

U.S. crude oil inventories increase last week: API

The American Petroleum Institute (API) on Tuesday reported an increase of 3.545 million barrels in the U.S. crude oil inventories for the week ending May 31. In the previous week ending May 24, API reported a decrease of 5.265 million barrels of crude oil inventories, while the U.S. Energy Information Administration (EIA) reported a decline of 300,000 barrels for the same period. Oil prices bounced back on Tuesday, as investors digested the latest speech by U.S. Federal Reserve Chairman Jerome Powell and Saudi Arabia’s intentions to further cut supply to ...

Read More »

Oil slides on U.S. inventory build, equity rally caps losses

Oil prices resumed their slide on Wednesday, dragged down after an unexpected gain in U.S. inventories, but with losses capped by a recovery in global equities on hopes of a rate cut from the Federal Reserve. Brent futures were down 17 cents at $61.80 a barrel by 1208 GMT, having briefly traded in positive territory earlier in the session. U.S. West Texas Intermediate crude was down 55 cents at $52.93 a barrel. U.S. crude inventories rose unexpectedly last week, while gasoline and distillate stockpiles built more than expected, data from ...

Read More »

Shanghai crude oil futures close lower

Crude oil futures closed lower Wednesday on the Shanghai International Energy Exchange. The most active crude oil contract for July delivery was down 2.2 yuan (about 32 U.S. cents) to close at 425 yuan a barrel. The total trading volume for 10 listed crude oil futures contracts on the exchange was 397,726 lots, with a turnover of about 169.2 billion yuan. China launched the crude oil futures trading, which is open to overseas investment, on March 26 last year. Source: Xinhua

Read More »

Shell sees LNG market growth at 4% a year, plans to ‘grow with it’: CEO

Anglo-Dutch major Shell expects the global LNG market to grow by 4% a year to 2035 and the company plans to “grow with it,” maintaining its leading position in the market, CEO Ben van Beurden said. Speaking at a management day in London, van Beurden said the company had an “unmatched” LNG supply portfolio globally with a 22% share of global LNG sales in 2018, and a trading function that allowed Shell to do “serious” optimization. Global LNG imports in 2018 were some 314 million mt, according to industry group ...

Read More »

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping