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Leading classification society ClassNK has developed “Guidance for onboard use of Compliant Fuel Oil with SOx regulation from 2020” and an implementation plan sample for switching to compliant fuel oil in order to support the industry in complying with the sulphur cap which will be enforced starting on 1 January 2020, requiring sulphur emission amounts to remain under 0.50%. ClassNK will also provide related appraisal services for the 2020 Sulphur Cap. Compliant fuel oil is anticipated to include more low-sulphur blendstocks than ever before in addition to light distillates. ClassNK ...

Singapore’s maritime sector is preparing to ride the wave of digitalisation as a means to further growth and navigate choppy waters, industry professionals said. Speaking on the sidelines of a media briefing for the upcoming Singapore Maritime Week 2019, Ms Quah Ley Hoon, the chief executive of Maritime and Port Authority of Singapore (MPA), said that digitalisation is key to developing “a vibrant maritime ecosystem”, using new digital technologies in blockchain and big data. Mr Michael Phoon, executive director of the Singapore Shipping Association (SSA), also said that digitalisation is ...

• A combined offer of 26 maritime services and 8 inland services operated through a fleet of 32 vessels and 700 trucks • Claude Lebel appointed new CEO of Containerships to promote the development of the new single brand • A new logo reflecting Containerships’ integration into the CMA CGM Group The CMA CGM Group, a world leader in shipping and logistics, is pleased to announce the union of its Containerships and MacAndrews brands under the single Containerships brand. Containerships: the new multimodal transport intra-European leader Together, Containerships and MacAndrews ...

Stolt-Nielsen posts its 1Q19 report (December-February) this Thursday. Although we are optimistic towards the expectations of development in rates throughout 2019, 1Q figures are not yet anticipated to be exceptional. Seasonal improvement in Tank Containers is projected to lift the top line for the company QoQ, while the other segments are seen stable to slightly improving. The company keeps its cautiously optimistic view in the annual report and also continues a share buy-back program together with reduced 2xUSD 0.25 dividends. Our view towards the stock remains positive with a slightly ...

Moody’s Investors Service says that Wan Hai Lines Ltd.’s softer 2018 financial results are in line with Moody’s expectations and have no impact on its Ba2 corporate family rating or positive rating outlook. “Wan Hai’s debt leverage — as measured by adjusted net debt/EBITDA — increased to 2.7x in 2018 from 1.7x in 2017 because of lower earnings and higher net debt amid higher capital spending,” says Chenyi Lu, a Moody’s Vice President and Senior Credit Officer. “However, we expect its debt leverage will improve to around 1.5x-2.0x over the ...

The Board of Directors (the “Board”) of China Merchants Port Holdings Company Limited (“CMPort” or the “Company”, HKSE Code: 00144) is pleased to announce the annual results of the Company and its subsidiaries (the “Group”) for the period ended 31 December 2018. A press conference was held on 1 April 2018 in Hong Kong and was hosted by Managing Director Dr. Bai Jingtao. Deputy General Manager Mr. Yan Gang and Chief Financial Officer Ms. Wen Ling also attended the meeting and answered questions from the press. Facing the opportunities brought ...

U.S. exporters sold 828,000 tonnes of soybeans to China, the U.S. Agriculture Department said on Monday, the second sale announced since the two countries concluded their latest round of negotiations last week to end their trade war. The USDA, in its daily reporting system, said that private exporters indicated the deal was for the 2018/19 marketing year, which ends on Aug. 31. China has stepped up its purchases of U.S. soybeans during negotiations to end the trade war between the two countries but the amount purchased remained well below typical ...

South Korea will likely maintain its voracious appetite for US crude oil with at least 40 million barrels expected to reach the Asian consumer over the first half of 2019, as the import cost for lighter and sweeter North American grades have flipped to a discount against heavier Saudi grades. According to a survey of major South Korean refiners as well as market analysts from Seoul-based securities companies and state-run think tanks, conducted by S&P Global Platts, Asia’s fourth biggest oil consumer is expected to import a minimum of 7 ...

Chinese export hot-rolled coil and rebar steel mill premiums to iron ore and coking coal prices rose in March as steel prices continued to rebound in China, analysis by S&P Global Platts shows. The Platts China export HRC spread averaged $267.50/mt in March, up 7% from February. Chinese domestic and export steel prices have rebounded from lows in December and January. This followed a peak in the HRC export premium over imported iron ore and premium hard coking coal of over $370/mt in May 2018, on surging steel prices and ...

Iron ore prices in China reached a record high on Tuesday as market participants wrestled two dilemmas, namely the likely temporary weather-related disruptions from Australia and the rather more serious safety outages in Brazil. A major tropical cyclone hitting the main producing and shipping areas in the world’s largest iron ore miner was always likely to boost prices, and indeed, markets largely responded as expected. Iron ore futures on the Dalian Commodity Exchange rose 4.2 percent on Tuesday to reach 665.5 yuan ($99) a tonne, the most since the contract ...

Top oil exporter Saudi Arabia is expected to keep prices of various grades of crude it sells to Asia little changed in May from the previous month, trade sources said. State-owned Saudi Aramco may cut the official selling price (OSP) for its flagship Arab Light crude by 5 cents a barrel for May, according to the median of responses of five refining sources. The sources gave a range of an increase of 5 cents to a cut of 25 cents. The respondents also expect similar price moves for the country’s ...

OPEC’s crude production slid for a fourth month as Saudi Arabia pressed on with output curbs aimed at balancing global markets, and as an economic crisis in Venezuela escalated. Despite pressure from U.S. President Donald Trump to keep oil supplies flowing and put a lid on rising prices, the Saudis and other members of the cartel remain resolved to restrain production to avert a glut. The kingdom slashed production to a four-year low of 9.82 million barrels a day in March, according to a Bloomberg survey of officials, analysts and ...

Oil prices rose for a fourth day on Wednesday, pushing Brent towards a nearly five-month high of $70 a barrel as support from OPEC-led supply cuts and U.S. sanctions overshadowed a report showing an unexpected rise in U.S. inventories. Brent futures gained 38 cents, or 0.55 percent, to $69.75 by 0900 GMT. They earlier reached $69.96 – the highest since Nov. 12, when they last traded above $70. U.S. West Texas Intermediate crude rose 20 cents or 0.32 percent to $62.78, having hit $62.99, the highest since Nov. 7. “The ...

Global natural gas market is undergoing substantial changes, as gas demand is increasing at a rapid pace driven by emerging economies, such as China and India, according to industry observers. At the ongoing 19th International Conference & Exhibition on Liquefied Natural Gas (LNG) held in Shanghai, industry experts widely hold that rising LNG supply and demand is injecting dynamism into the market. EMERGING ECONOMIES DRIVE UP DEMAND “Natural gas is playing a crucial role in global energy transition. As an efficient and clean fossil fuel, natural gas is considered as ...

Russian oil output declined to 11.298 million barrels per day (bpd) last month, energy ministry data showed on Tuesday, missing the target set under a global deal to cut oil production. The March output was down by around 112,000 bpd from the October 2018 level, the baseline of the global deal. Under the agreement, Russia has pledged to cut its oil output by 228,000 bpd from that level. In tonnes, Russian oil production reached 47.78 million tonnes. Reuters uses the 7.33 barrels/tonnes ratio. Russian Energy Minister Alexander Novak said on ...