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The most extreme period of volatility in U.S. natural gas futures in nearly 10 years is set to a close as the winter weather turns warmer, but not before the wild price swings caused one trading firm to collapse. While some firms took losses, the volatility likely helped others make money — something that may be harder to do now that prices are trading in a narrower range, analysts said. “There certainly were more winners and losers in November and December than in recent years when the market was fairly ...

News has been emerging this week about planned works this year in India, China and Malaysia. NEW AND REVISED ENTRIES –Sinopec Qilu Petrochemical plans to process 11.8 million mt of crude oil in 2019, down 1.5% from 2018, due to a partial maintenance in early March, a source with the refinery said. “We have a partial maintenance for about a month from early March. But it will not cut our throughput significantly as we will take turns to shut the two crude distillation units in order to maintain operation in ...

ExxonMobil and Qatar Petroleum’s announcement that they will proceed with development of the Golden Pass liquefied natural gas (LNG) export project at Sabine Pass, Texas, kicks off what could be a record year for LNG final investment decisions (FIDs). The go-ahead for Golden Pass LNG comes as Anadarko and its partners in Mozambique LNG (Area 1) took a major step towards FID after signing sales and purchase agreements (SPAs) with CNOOC, Tokyo Gas-Centrica and Shell. ExxonMobil (30%) and Qatar Petroleum (70%) said construction at Golden Pass will begin in the ...

The Upper Midwest market has become the crossroads of America for natural gas, and finding that sweet spot helped the region get through a record-breaking freeze without breaking the bank. Chicago demand reached an all-time high of 10.65 Bcf January 30, but cash prices in the region experienced a decline as inflows ramped up to add bearish sentiment. At the same time, inflows to the Central region increased by approximately 1.04 Bcf on the day to 16.3 Bcf, according to Platts Analytics. The last time inflows to the region were ...

Russia’s Gazprom is looking to gain an even larger gas market share in Europe following record-high 2018 exports, expecting a decline in Europe’s gas output combined with rising demand, a senior manager at the company said. Last year it sold more than 200 billion cubic metres of gas to Europe, including Turkey, while its gas market share in the region rose to more than a third. Elena Burmistrova, in charge of the Russian company’s exports, said Gazprom would be able to offset a production decline in the European Union, mainly ...

Venezuela should be a global oil-exporting superpower. Instead, the Marxist junta ruling the country teeters on the brink of complete economic collapse, with hyperinflation reminiscent of Weimar Germany and the chances of a political coup d’état in Caracas rising every day. Despite its enfeebled state, Venezuela punches above its weight in oil markets. Uncertainty over its supply has helped to push up prices by almost 20% since the start of the year. That’s because many refineries in Texas and Louisiana – America’s fuel-producing engine – are configured to process Venezuela’s ...

Sterling will gain between 2 and 5 percent if Britain parts ways with the European Union with a divorce deal but will slide between 5 and 10 percent in the event of a disorderly Brexit, a Reuters poll found. Less than eight weeks before Britain is due to leave the EU on March 29 there is still huge uncertainty about the terms of its departure and fears are rising of a no-deal Brexit without a transition period to minimise economic disruption. Asked what would happen to sterling if Britain leaves ...

This can probably be said every year about China: This is the softest hard landing anyone has ever seen. China’s crash and burn has been forecast by a subsection of global investors that have been betting on the country’s demise since at least 2010. The latest economic data show weakness, but if those numbers can be believed, then China is hanging in there. So much so, in fact, that BlackRock is recommending an overweight on this trade-war-wracked economy. The January Caixin China PMI Composite is still over 50, but falling. ...

Ten years after the financial crisis, central bank interest rates remain near record lows and below zero in many countries, so the question is how well monetary policy would be able to respond to counter any future economic downturn. One option could be electronic money issued in tandem with regular cash, economists at the International Monetary Fund wrote on the group’s blog. Cash, which can be held interest free, offers a way around negative rates, but electronic money issued by a central bank can’t be stuffed under any mattress. IMF ...

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

Very little activity in the physical seaborne iron ore market, with some very tentative offers for March showing higher levels over last done.

AL Heavy Lift delivers bridge sections from China to Norway

SQLearn designed a library of interactive e-learning courses that covers the training needs of the shipping companies and provides a modern way to improve safety for maritime. The e- learning courses are based on STCW topics that cover national, international and flag requirements. The e-learning library includes categories of various topics, such as “Common”, “Technical” and e-learning modules about the “Resilience Training Programme”. Moreover, the “Lessons Learnt” e-learning courses are based on incident reports and give users a detailed description of an incident using 3D video animation techniques. The goal ...

As2con’s innovative composite patching and overlay technology – COMPA is proving useful for shipowners who have used this technology so far. As2con has partnered with Netherlands based Varuna Marine Services which will increase the market penetration for this innovative repair concept. Varuna Marine Services provides an array of maritime services to its worldwide client base. Its General Manager, Sanjeev Wewerinke Singh, said COMPA repair has wide ranging advantages for economical and smart repair of ships in service. This technology has the potential to reduce down time for shipowners while maintaining ...

Situation on board APL VANCOUVER is progressing favourably and is under control. Shore support and firefighting tugs have been deployed under the oversight and assistance of a Vietnamese coast guard vessel on site. Additional resources, including equipment, external specialised firefighter teams and salvage master have been mobilised. All crew on board has remained safe. APL is in continuous contact with the vessel’s Master and local authorities to coordinate all necessary actions. The situation will continue to be closely monitored. Source: APL