Home / Author Archives: hellenicshippingnews. (page 1610)

Author Archives: hellenicshippingnews.

Fed Holds Rates Steady, Signals Concern Over Sluggish Spending, Low Inflation–2nd Update

Federal Reserve officials agreed to keep their benchmark interest rate unchanged and signaled comfort that their wait-and-see posture had steadied the economy after fears of a slowdown had sent markets reeling at the end of last year. Fed Chairman Jerome Powell, speaking at a news conference Wednesday, played down concerns that recent soft inflation might hint at broader economic weakness. He repeatedly highlighted individual price declines that could prove transitory and, in doing so, pushed back against some market hopes the Fed might be preparing to lower interest rates later ...

Read More »

What does US$100-per-barrel crude oil mean for the world’s economy? It depends how long the price holds and who you are

Surging crude prices are posing another headwind for the world economy after US President Donald Trump’s “zero” pledge on Iran oil sales. Brent crude has risen about 40 per cent this year and is at the highest in six months. While higher prices due to strong demand typically reflects a robust world economy, a shock from constrained supply is a negative. Much will depend on how sustained the spike proves to be. Exporting nations will enjoy a boost to corporate and government revenues, while consuming nations will bear the cost ...

Read More »

Port of Liverpool – Providing Customer Centric Solutions

Take a look at our latest Port of Liverpool brochure video. The Port of Liverpool – Providing Customer Centric Solutions.

Read More »

Dry Bulk FFA: Capesize Paper Market on the Mend

Capesize Commentary Cape paper slipped in early trading which saw June trade down to 13600 & Q4 trade down to 18100. Rates did however rebound post index despite the overall lack of activity and a reduced number of market participants out due to national holidays.The physical appears to be finally catching up with the FFAs but it remains to be seen if this will continue to be the case as the week progreses. Panamax Commentary A very quiet day on the pmx side with limited interest due to the numerous ...

Read More »

Republican senator says Trump will not waive U.S. shipping rules

A Republican U.S. senator on Wednesday said President Donald Trump will not waive rules requiring that only U.S.-flagged ships move natural gas from American ports to Puerto Rico and the U.S. Northeast. The nearly 100-year-old Jones Act mandates the use of U.S.-flagged vessels to transport merchandise between U.S. coasts. Republican senators said the administration was seriously considering waiving the requirements for 10 years. Bloomberg News reported last week that Trump was leaning in favor of some kind of waiver. Senator Bill Cassidy, a Louisiana Republican, told reporters on a conference ...

Read More »

MABUX: Bunker market this morning, May 02

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) slightly rose on May 01 despite of celebration of the Labor Day in more than 170 countries: 380 HSFO – USD/MT – 433.21(+2.07) 180 HSFO – USD/MT – 476.57(+1.21) MGO – USD/MT – 653.14(+0.57) Meantime, world oil indexes changed irregular on May 01 after data showed record U.S. crude oil production, which resulted in a surge in stockpiles. Brent for July settlement increased by $0.12 to $72.18 ...

Read More »

HMD receives approval from LR for LNG-fuelled MR tanker design

Hyundai Mipo Dockyard (HMD) has received approval in principle (AiP) from LR for an LNG-fuelled 50,000 dwt class MR tanker design. This development is the result of close collaboration between HMD and LR. To aid compliance with the global sulphur in fuel oil limit of 0.50% m/m, which comes into effect on 1 January 2020, HMD has been focusing its efforts on LNG-fuelled ships as part of its plans to meet the market’s needs with environmentally friendly, commercially viable and innovative designs. HMD has incorporated an LNG-fuelled propulsion system into ...

Read More »

Desgagnés Takes Delivery of the M/T ROSSI A. DESGAGNÉS – Dual-Fuel/LNG Oil-Chemical Tanker

It is with great pride that Desgagnés took delivery of the M/T Rossi A. Desgagnés, a state-of-the-art, new-generation tanker whose construction was just completed; she is the last in a series of four custom-built tankers, based on an original concept developed by Desgagnés and ordered from the Besiktas Shipyard, located in Yalova near Istanbul, Turkey. It is to be noted that the M/T Rossi A. Desgagnés joins the M/T Gaïa Desgagnés acquired last week by the company; these two investments alone exceed $100 million Canadian. This major renewal plan for ...

Read More »

For a safe and healthy work environment at sea

At Höegh Autoliners we understand that a seafarer’s job is like no other. Working at sea for months at a time, a seafarer faces many challenges including psychological distress arising from an isolated life away from land and the family. Ensuring good mental and physical health is not only an issue for the individual, but also a matter for the organisation as a whole. Dante Elpedes, Head of Höegh Fleet Services Philippines says, “We believe it is important to provide adequate information and support to seafarers to ensure that they ...

Read More »

Oil shipments from Georgia’s Batumi port drop 24 pct in Jan-Apr

Oil and oil-related shipments from Georgia’s Black Sea port of Batumi dropped 24 percent in the first four months of 2019 from a year earlier, an official at a KazMunaiGas-operated terminal at the port said. Shipments of crude oil and refined oil products from Batumi have fallen in recent years, partly because Azerbaijan prefers to send its oil through the Baku-Tbilisi-Ceyhan pipeline or via its own terminal at the Georgian port of Kulevi, rather than from Batumi, which is operated by a Kazakh company. There were no shipments of crude ...

Read More »

US security concerns force Cosco-owned Orient Overseas to sell Long Beach port in California

A Hong Kong-based company has been forced to sell its American container port after the US government raised security concerns about its parent being a Chinese state-owned shipping giant. Orient Overseas (International), which is majority-owned by Cosco Shipping Holdings, will sell off its entire interest in Long Beach Container Terminal in California for US$1.78 billion (HK$13.97 billion) in cash, according to a stock exchange filing on Tuesday morning. The sale to a US infrastructure fund is the fulfilment of a national security agreement signed last year and is expected to ...

Read More »

Volume of cargo transshipment from Russia, Iran via Turkish ports exceeds 13 million tons

In March 2019, the volume of cargo transshipment from Russia and Iran through the ports of Turkey amounted to 13,688,726 tons, Trend reports referring to the Turkish Transport and Infrastructure Ministry. During this period, the volume of cargo transshipment from Iran through the ports of Turkey amounted to 1,461,308 tons. In March 2019, the volume of cargo transshipment from Iran by ships sailing under the Iranian flag amounted to 1,004,104 tons, and ships sailing under flags of other countries accounted for 457,204 tons of cargo. During this period, no ships ...

Read More »

US push to zero Iran oil exports may be more like 500,000 b/d: analysts

The Trump administration’s push to bring Iranian crude exports to zero officially begins Thursday, but analysts believe Iran will continue to export roughly 500,000 b/d through the early summer as the US, perhaps unofficially, allows certain buyers to continue their imports. “I expect that we’ll see a fairly messy process over the next couple of weeks to two months where some countries will keep taking incoming [Iranian] tankers, but they’ll be curtailing purchases,” said Peter Harrell, an adjunct senior fellow at the Center for a New American Security and a ...

Read More »

How Russia contaminated $2.7 billion of oil exports to Europe

It was a quiet Easter holiday at the offices of major European oil companies and refiners when an email in Russian landed. “What the hell does it say?” one manager recalled thinking as he sent it to his Moscow office for translation. He was in for a shock. The letter was from the state pipeline company in Belarus, Gomeltransneft, telling oil refiners and pipeline operators in Poland, Ukraine, Hungary, Slovakia and the Czech Republic that the crude heading toward them from Russia down the 5,500 km (3,400 mile) Druzhba pipeline ...

Read More »

Japan imported 21.817 million barrels of crude oil from UAE in March

Japan has imported from the UAE 21.817 million barrels of crude oil in March 2019, data released by the Agency of Energy and Natural Resource in Tokyo showed. This accounts for 21.9 percent of Japan’s total crude imports, said the agency that belongs to the Ministry of Economy, Trade and Industry. Japan’s total crude oil imports for March amounted to 99.567 million barrels, the agency added. Source: WAM

Read More »

Recent Videos

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