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Navios Maritime Partners (NMM) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Navios Maritime Partners (NYSE:NMM) from a hold rating to a sell rating in a research note published on Thursday morning, Zacks.com reports. According to Zacks, “Navios Maritime Partners L.P. is an international owner and operator of dry cargo vessels. It engages in the seaborne transportation services of drybulk commodities including iron ore, coal, grains, fertilizers and chartering of its vessels under medium to long-term charters. Navios Maritime Partners L.P. is headquartered in Piraeus, Greece. “ Separately, ValuEngine raised shares of Navios Maritime Partners from ...

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KONGSBERG delivers K-Sim Engine simulator with MAN ME configuration to India

Kongsberg Digital (KDI) has successfully completed the delivery, installation, Site Acceptance Test and handover of a K-Sim Full Mission Engine Simulator to The Institute of Marine Engineers (IMEI) in India. The state-of-the-art simulator was installed in IMEI’s head office and training centre in Mumbai, India this February, to prepare post-sea marine engineers for their Certificate of Competency examination, conducted by India’s Directorate General of Shipping. By presenting marine engineers with an exhaustively thorough series of realistic and appropriately targeted training scenarios, K-Sim Engine simulators enable instructors to construct exercises covering ...

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IEC Telecom launches Orion Edge+ to Asian maritime sector

IEC Telecom will launch its ground-breaking Orion Edge+ satellite voice and data communication solution during this week’s Sea Asia (April 9 to 11). Orion Edge+ provides high quality, reliable broadband with the ultimate cost effective operational benefits. It also provides flexible data plans with no long-term commitment. This flexibility makes Orion Edge+ ideal for busy offshore support vessels, tugs, and oil and gas contractors. Powered by Thuraya’s Orion IP broadband and Thuraya’s Seastar circuit switched voice terminal, the Orion Edge+ solution offers high quality voice and data services bundled with ...

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Applications are now open for the EPS MaritimeTech Accelerator Powered by Techstars

From today until July 7, 2019, the EPS MaritimeTech Accelerator Powered by Techstars will be accepting applications from startups around the world to participate in its inaugural class in Singapore. Ten companies will be selected for the 90-day programme, which commences in November 2019, and will undergo an intensive programme of research and development, mentorship, and collaboration, culminating in a demo day in February 2020. During the demo day, every startup will pitch its newly polished business to facilitate further investment and/or partnerships, while broadening and energizing the domestic startup ...

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Jensen Maritime Provides Design of New, Tier IV Ship Assist and Escort Tugs for Moran Towing

Jensen Maritime Consultants, the Seattle-based naval architecture and marine engineering subsidiary of Crowley Maritime Corp., has been awarded the contract to design ship assist and escort tugboats for Moran Towing Corp., a New Canaan, Conn., tug-and-barge operator on the U.S. East and Gulf Coasts. The new boats will be the latest in a series of seven Jensen-designed tugboats for Moran over the past decade. 193061-105-1P03a.jpgNew features on the tugboats include upgrades to meet the latest ABS regulations and U.S. Coast Guard subchapter M regulations, as well as meeting U.S. EPA ...

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Brazil’s first quarter soya, corn exports surpass year-ago levels

Brazilian exports of soyabeans and corn in the first quarter were larger than seen in the same period a year earlier, data released on Monday by the country’s economy ministry shows. Brazil shipped 8.95 million tonnes of soyabeans in March, more than the 8.81 million tonnes in the same month last year, leading total exports in the quarter to 17.2 million tonnes. Soya exports in the first quarter of 2018 reached 13.2 million tonnes. The large quarterly volume comes despite analysts’ projections for a smaller annual volume this year. But ...

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India’s Essar seeks spot LNG cargo for June delivery – sources

Indian commodities conglomerate Essar Group is looking to buy a spot cargo of liquefied natural gas (LNG) for delivery in mid-June, two sources said. The tender was issued on Monday morning and will close on April 10, they added. Source: Reuters (Reporting by Ekaterina Kravtsova; Editing by Mark Potter)

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A Million Tons of Copper Is on the Way: It May Not Be Enough

Giant mines currently under construction will churn out an additional 1 million tons of copper through 2023, but that won’t be enough to fully close an expected gap between supply and demand in the next few years. Industry analysts and executives descending on Santiago this week for the Cesco conference, one of the industry’s biggest events, are in bullish spirits: a key indicator of the market for copper ore — known as concentrates — is pointing to the tightest market in more than five years, and banks and brokers such ...

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Wheat drops to 1-wk low on better US crop condition, corn eases for 3rd day

Chicago wheat prices slid 1 percent on Tuesday, dropping to their lowest since April 2 amid the improved condition of the U.S. winter crop and abundant world supplies. Corn eased for a third consecutive session ahead of a U.S. Department of Agriculture report which is expected to raise the outlook for stocks in the United States. The most-active wheat contract on the Chicago Board of Trade had dropped 1 percent to $4.60-1/2 a bushel by 0341 GMT, after hitting its lowest since April 2 at $4.60-1/4 a bushel. Corn fell ...

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US coking coal growth capped by capital, equity investor trends: Eurocoke

US coking coal output growth is constrained by limited financing appetite for coal projects, despite higher coal prices in the past two years, according to mining and trading sources. Banks and investors are shying away from funding coal mines, and they may not have the backing internally to make the distinction between thermal coal for power generation and metallurgical coal to participate in supply growth, participants at the Eurocoke conference in Amsterdam said last week. Large pensions funds and shifts in bank lending criteria and policies increasingly discriminate against coal, ...

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Global oil stocks stabilizing but still too high: Saudi Arabia’s Falih

Global oil inventories remain above the “normal level,” Saudi energy minister Khalid al-Falih said Monday, speaking just weeks before an OPEC technical meeting scheduled to discuss oil market fundamentals and compliance with organization’s current production to cut deal. “I think we are getting to a point where inventories are starting to stabilize, but they are still above what I would call a normal level,” Falih said during the Gulf Intelligence Forum in Riyadh. According to OPEC’s latest monthly oil market report, global oil inventories stood at 2.88 billion barrels in ...

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Shanghai crude oil futures close higher

Crude oil futures closed higher Tuesday at the Shanghai International Energy Exchange (INE). The most active crude oil contract for May delivery was up 0.3 yuan (about 4 U.S. cents) to close at 478.2 yuan a barrel. On Tuesday, the total trading volume for six listed crude oil futures contracts on the exchange was 287,292 lots, with a turnover of 137.5 billion yuan. China launched the crude oil futures trading, which is open to overseas investment, on March 26 last year. Source: Xinhua

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Russia’s Sokol crude premiums rebound in Asia on lower supply; stronger structure

The cash differential for Russia’s light sweet Sokol crude grade rebounded to $3.50/b levels in spot market trading in Asia this week as lower supply coupled with a revival in demand for the Russian grade serving as bullish factors. India’s ONGC was reported to have sold a 70,000-barrel cargo of the crude grade, loading over May 30-June 5 to an oil major at a premium of around $3.50/b to Dubai, according to traders in Asia this week. Previously, Sokol differentials had dipped to $2.50/b as a flurry of light, sweet ...

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Oil traders hail output cuts but wary on economic outlook

Hedge fund managers are becoming progressively more bullish on the outlook for crude and gasoline prices, but they are turning increasingly against diesel, notwithstanding the IMO marine fuel deadline at the end of the year. Hedge funds and other money managers were net buyers of 23 million barrels of futures and options linked to crude and refined products in the week to April, according to exchange and regulatory position records. Fund managers have raised their overall bullish position in the six most important petroleum-linked futures and options contracts to a ...

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Saudi Arabia denies report it is mulling non-dollar oil sales

Saudi Arabia Monday denied a Reuters report that it may look to sell oil in currencies other than the dollar. Saudi energy minister, Khalid al-Falih said the report was “absolutely not” true. “There is no change whatsoever to our long-standing policy,” Falih told journalists on the sidelines of the Gulf Intelligence Energy Forum in Riyadh. Saudi Arabia has been trading its oil in dollars for decades. “The ministry reaffirms the kingdom’s commitment to its role as a stabilizing force of energy markets, and its desire not to risk such a ...

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