Home / Author Archives: hellenicshippingnews. (page 1628)

Author Archives: hellenicshippingnews.

Ardmore Shipping (ASC) Lowered by Zacks Investment Research to Sell

Zacks Investment Research cut shares of Ardmore Shipping (NYSE:ASC) from a hold rating to a sell rating in a report released on Tuesday. According to Zacks, “Ardmore Shipping Corporation engages in the ownership and operation of product and chemical tankers. It provides shipping services to customers through voyage charters, commercial pools, and time charters. The Company provides seaborne transportation of petroleum products and chemicals worldwide to oil majors, national oil companies, oil and chemical traders, and chemical companies. Ardmore Shipping Corporation is based in Mahon, Ireland. “ Other equities research ...

Read More »

Tsuneishi, Austal plan further expansion

Two other shipping giants operating in the Philippines are braving the rough waves of the global shipping business and are even expanding their business in the country. Tsuneishi Heavy Industries Inc., a joint venture between Japan’s Tsuneishi Holdings and the Aboitiz Group, said it is business as usual for the company and that it has no plans to close its shipyard in Balamban, Cebu despite some slowdown in the global shipping business. In an interview with The STAR over the weekend, Aboitiz Equity Ventures (AEV) president and CEO Erramon Aboitiz ...

Read More »

British Ports Association statement ahead of Brexit Vote

It is important to remember that, in the seemingly unlikely event that this deal is agreed by Parliament, this is the beginning of a process, not the end of it. We have yet to negotiate more than the basic principles behind our future relationship with the EU and there remains much to be agreed, including fundamental questions around if and how goods are checked and handled at the border. If the deal tonight falls, then we would encourage Government to urgently set out its plans for avoiding a disorderly withdrawal ...

Read More »

High swells warning not affecting bunkering operations in Callao, Peru: sources

Reports of high swells in Callao, Peru, are not expected to affect bunker operations there, market sources said Monday. Port agents warned of high swells along the central coast — from Chimbote to San Nicolas — from Monday through Wednesday. A local supplier source said that at the moment there was no concern at all about the swells. Wave heights up to 50% more than normal are expected until Monday afternoon, the Peruvian Navy reported in a statement on its site. “At the moment it’s not affecting us, but it ...

Read More »

Dublin Port: How Is It Preparing For a Possible No-Deal Brexit?

On top of the roof of Dublin Port Company’s headquarters, you can see lots of building work amidst all the docked ships at the River Liffey’s mouth. And while that construction is not entirely Brexit-related, management at the port, BBC News reports, says it has to be prepared for the possibility of a no-deal and any potential economic fallout. The UK is scheduled to leave the EU on 29 March, whether or not there is a negotiated deal. British Prime Minister Theresa May is hoping that her draft Withdrawal Agreement ...

Read More »

Port Qasim dockers end strike

Chinese company Huaneng Fuyun Port and Shipping (HFPS), which operates berths three and four at Port Qasim , Karachi, has paid five months salary (from July 18 to November 18) to Pakistani dock workers in the port through two cheques of a total amount of Rs20.547 million. Sources in the Ports and Shipping told The Nation on Sunday that a deal was brokered at a meeting on the weekend between representatives of Huaneng Fuyun Port and Shipping (HFPS) and representatives of 1,751 dockers, social workers, human rights activists and trade ...

Read More »

Russia’s Transneft sees oil exports down 2 mln T in 2019 – Interfax

Russian oil pipeline monopoly Transneft expects crude oil exports via its network to fall by 2 million tonnes to 228.3 million tonnes in 2019, Interfax news agency reported on Friday citing a company deputy head. Exports via Transneft accounts for around 90 percent of Russia’s crude exports. Oil product exports via Transneft’s system are seen unchanged this year at 28.6 million tonnes, Interfax reported. Source: Reuters (Reporting by Vladimir Soldatkin; editing by Jason Neely)

Read More »

Merkel Seeks to Heal Coal Rift in Germany

Angela Merkel this week will seek to bridge divisions in Germany about how quickly to cut the nation’s reliance on coal, a controversial issue that has sparked violent clashes between green protesters and police and rattled its brittle governing coalition. The Chancellor will use a Tuesday dinner meeting in Berlin to press a panel plotting an exit from the world’s most widely used power-plant fuel to speed up plans after it requested an extension in December. The group made up of coal-state governors, industry lobbyists, union members and environmentalists has ...

Read More »

Soybeans rise on S.America weather woes, capped by slowing China demand

Chicago soybean futures ticked higher on Tuesday, recouping some of the previous session’s decline on concerns over adverse weather in South America, although slowing demand in China limited the gains. Wheat prices firmed after Monday’s deep losses, and corn rose having closed last session little changed. The most-active soybean contract on the Chicago Board Of Trade added 0.5 percent to $9.07-3/4 a bushel by 0318 GMT, having closed down 0.7 percent on Monday, when prices dropped to their lowest since Jan. 2 at $9.01-1/2 a bushel. Wheat climbed 0.3 percent ...

Read More »

Indian Farmers Reap a Bitter Harvest Ahead of Elections

Wherever India’s farmers are struggling — as they are in this rural community — Indian politicians are never far behind promising help. These days farmers are questioning just how helpful those politicians have really been. Last year, the farmers traveled to cities big and small to drive home their dissatisfaction, holding large demonstrations and protests. This year, when Prime Minister Narendra Modi and his Bharatiya Janata Party face the electorate in a general election that must be held by May, the farmers will have a chance to vote on their ...

Read More »

S&P Global Platts to reform key Dated Brent crude oil benchmark

S&P Global Platts plans reforms to its Dated Brent crude oil price assessment as part of ongoing moves to boost the liquidity of the benchmark used as a basis for pricing the majority of the world’s traded oil, it said. From November 2019, Platts plans to include qualifying North Sea crudes on an adjusted cost, insurance and freight (CIF) basis Rotterdam into in its FOB (free on board) Dated Brent benchmark. Related subscriber note: Platts proposes to reflect CIF Rotterdam offers in Dated Brent from November 2019 loadings The move ...

Read More »

Fund managers neutral on crude and fuel outlook: Kemp

Hedge fund managers show signs of having completed their recent sale of crude and refined fuels, with positions edging up slightly in the first week of the new year, amid hopes a recession can be averted. Oil prices have bounced off their recent lows, the U.S. dollar has weakened against most other major currencies and expectations of a trade deal between the United States and China are rising. Portfolio managers raised their net long position in ICE Brent crude futures and options by 6 million barrels to 158 million barrels ...

Read More »

Iran has been and will remain a frontier in OPEC: Barkindo

OPEC Secretary-General Mohammad Barkindo has stressed the important role of Iran as one the founders of OPEC saying that Iran will always be a frontier in the future of the organization. In an interview with Shana, Barkindo noted that the Organization of the Petroleum Exporting Countries will always remain the same and no other interpretation of OPEC is legitimate. “Having a vision beyond the market’s short-term outlook is crucial for our organization. We need to ensure, with our cooperation, that OPEC remains an efficient and strong organization for the foreseeable ...

Read More »

Aramco’s IPO looks believable again after Saudi speaks up about reserves

Saudi Arabia has finally silenced its peak oil critics and simultaneously revived interest in its stalled $2 trillion plan to IPO state-owned producer Aramco. The kingdom revealed last week it has enough crude to pump at current rates for at least another 70 years. At the end of 2017, Saudi oil reserves stood at an eye-watering 268.5 billion barrels, up from previous estimates of 266.4 billion. By comparison, the UK’s remaining cache of commercially retrievable oil under the seabed of the North Sea could be almost completely drained in a ...

Read More »

Oil And Gas Digital Investment Is Surging But Progress Remains Slow

Global oil and gas executives are preparing to accelerate investment in digital technologies, primarily with an objective of doubling down on their cost-saving ambitions, as the market volatility of 2018 spills over into 2019, fresh market evidence suggests. The third quarter of last year saw Brent futures touch levels as high as $85 per barrel. But the very next quarter ensured the year ended on a firmly bearish note as the global proxy benchmark plummeted below $55 at one point, before mounting a January recovery. In the light of the ...

Read More »

Recent Videos

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