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Daily rates on main tanker routes as compiled by shipbroker Charles R. Weber.

Oil tankers loaded approximately 41 million barrels of oil – mainly Russian and Kazakh from the Black Sea ports – stand in line to pass through the key Turkish straits, according to data released on Wednesday by the port operator Tribeca Shipping. A total of 55 vessels were stuck in front of the Bosphorus and the Dardanelles, including 21 Suezmax class tankers and 26 Aframax class vessels. On Tuesday, there were 51 such tankers, and their cargo was estimated at 38.7 million barrels. The waiting time for passage through the ...

The report “Breaking New Ground” presents the outcomes of the Global Maritime Forum’s recent Annual Summit in Hong Kong. The high-level meeting convened 200 decision-makers from across the entire maritime spectrum to address key challenges and opportunities facing global seaborne trade. In connection with the launch of the report Johannah Christensen, Managing Director, Head of Projects and Programmes at the Global Maritime Forum comments: “Discussions at the Summit generated many new ideas and proposals for collaborative action. They will guide our activities in 2019 and beyond. The Global Maritime Forum ...

V Sajeev Kumar Kochi-based Consolidated Shipping Line (CSL), a leading third-party logistics operator having pan India operations, is seeking a strategic partnership involving an investment of up to ₹60 crore through equity placement. The company — with exposure to the Indian defence sector — has drawn up plans to boost its market share in defence projects, upgrade infrastructure and technology, and improve profitability by optimising costs. CSL has projected a tripling of revenues from the current level of ₹70 crore by 2021. With the strategic partnership, CSL is aiming to ...

As part of APL’s continuous effort to enhance our network coverage, we are pleased to inform you that North South Express (NS1) service will make a direct call to Ho Chi Minh. NS1 New Port Rotation Gwangyang – Busan – Kaohsiung – Ho Chi Minh – Port Klang Westport – Singapore – Haiphong – Kaohsiung – Gwangyang Effective Sailing Date Vessel and voyage TBA, ETA Gwangyang 21 February 2019 Source: APL

httpAt the start of the new year, Hamburger Hafen und Logistik AG (HHLA) and its partners began research and development work on the publicly funded FRESH project at its Container Terminal Altenwerder (CTA). FRESH stands for flexibility management and control reserve provision of heavy goods vehicles in the harbour. The goal is to integrate the battery capacities of the automated guided container transport vehicles (AGVs) that are in use at CTA into the German energy network as flexible storage units that contribute to the grid stability of the power supply. ...

Saudi Ports Authority (Mawani) has issued the first unified shipping agency license for the foreign investors, it said in a statement. Mawani also seeks to boost the contribution of the private sector companies and other local as well as global operator to 70 percent of the ports segment. It also seeks to reduce the container’s port stay to three days and more than double the terminal handling throughput in 2030. Mawani’s board of directors has recently approved the regulations pertaining to the shipping agency licensing. Source: Argaam

Melbourne’s Victoria International Container Terminal (VICT) has become the latest Australian stevedore to apply an infrastructure surcharge, a move which has drawn criticism from industry. The increase to A$85 (US$61.5) plus GST per container represents a 77% rise and applies to all full boxes received by the terminal from March 1. In a statement, VICT said the increase was to ensure it remained competitive and provide a viable alternative service. “As market pricing shifts towards split waterside and landside tariffs, the infrastructure surcharge will be revised accordingly,” the statement said. ...

Russian exports of refined oil products over January-December rose 1.1% year on year to 150.052 million mt, customs data showed. In December alone, exports dropped 1.5% month on month to 11.604 million mt as the authorities asked companies to increase sales on the domestic market. Export flows were mixed last year, with an initial uptick in volumes followed by drops due to rising domestic prices and authorities’ concerns about the impact of exports on domestic supply. Russia exports diesel, jet and fuel oil to international markets, but its gasoline exports ...

Indian steel firms are putting pressure on the nation’s government to impose higher duties on imports as trade disputes and a global economic slowdown divert surplus Asian steel stocks to India, industry executives and government sources said. Local Indian producers are suffering from the double whammy of a rise in cheap imports and low domestic steel prices, which threatens to wipe out the healthy profits made in the past couple of years. The steel companies have approached the federal ministry multiple times over the past few months, alleging China, Japan, ...

According to projections, South Africa will need to generate energy from coal until at least 2040, says Vuslat Bayoglu, managing director and co-founder of SA-focused mining investment business Menar Capital. He took part in a panel discussion on coal and renewables at Mining Indaba 2019. “There are ways to deal with pollution from coal. There is technology for filters and on top of that there is carbon capture and storage technology,” he argued. South Africa has about 118 years of coal resources left and the coal industry in the country ...

Consol Energy reported record high coal production and sales in 2018, partly due to improved geological conditions and higher productivity, the company said Thursday. The Canonsburg, Pennsylvania-based company said during its fourth-quarter and full-year 2018 earnings call that the three mines at its Pennsylvania Mining Complex — Bailey, Enlow Fork and Harvey — produced a record 27.6 million st of coal in 2018, up 5.6% from the previous record of 26.1 million st in 2017. In Q4, the three mines produced a record 6.8 million st, up from 6.4 million ...

The Goldman Sachs Group GS is planning to cut back Commodities trading, which used to be a major source of revenues for the investment bank. However, no final decision has been made by the executives, so far. The decision to pull back from commodities comes after months of review conducted on Goldman’s businesses, as proposed by the new chief executive officer David Solomon, with a view to control costs and tap on areas that could generate higher profits. A similar review on the commodities arm revealed that the wing was ...

U.S. soybean futures held steady on Friday, but were poised to record their second consecutive weekly loss amid concerns over a prolonged trade war between Washington and Beijing. FUNDAMENTALS * The most active soybean futures on the Chicago Board OfTrade were down nearly 0.5 percent for the week. * The most active corn futures were little changed this week after two consecutive weekly declines. * The most active wheat futures were down 2 percent for the week, the biggest weekly fall in seven weeks. * Soybeans were under pressure as ...

Favourable weather is seen aiding the wheat crop across key growing regions across Central and Northern India, even as sowing of the main rabi cereal crop is coming to an end. As of February 1, wheat was planted on about 297.24 lakh hectares, marginally lower than the acreage in the same period last year. “The crop’s condition is very good and the prevailing cold climatic conditions are favourable. We are looking at a record crop of around 105 million tonnes this year,” said GP Singh, Director of the Karnal based ...