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Protection Vessels International: Weekly Maritime Security Report

Fiver robbers boarded a bulk carrier at 0445 hrs local time at Callao port. The robbers reportedly boarded the vessel using a rope attached to a hook, threatened and assaulted the AB crew on duty. Other crew members spotted the robbers and sounded the alarm. The robbers fled the vessel with stolen personal belongings upon hearing the alarm. The incident was reported to local authorities, who boarded the vessel for investigations. PGI Analysis: There is a moderate threat to vessels at ports in Peru, partially due to opportunistic robberies targeting ...

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France’s proposed speed limit for ships

French proposals submitted to the IMO’s MEPC at the end of last month call for a two-step approach of short-term measures to cut GHG emissions in shipping. They include regulating ship speeds on a sector by sector basis, followed by the adoption of globally applicable annual emissions caps based on each ship’s output. Loadstar reported the following views have been expressed: It is understood that Maersk has objected to the proposals, while a spokesman for Hapag-Lloyd told The Loadstar additional speed reductions ‘would not be a good solution’. He said: ...

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Keppel receives final approval for the conversion of Gimi FLNG project

Keppel Offshore & Marine (Keppel O&M)’s wholly-owned subsidiary, Keppel Shipyard Ltd (Keppel Shipyard), has received the Final Notice to Proceed (FNTP) from Gimi MS Corporation, a subsidiary of Golar LNG Limited, to commence full conversion works for the Gimi Floating Liquefaction Vessel (FLNG) project. The total contract is worth US$947million and builds on the issuance of the Limited Notice to Proceed (LNTP) on 17 December 2018. Keppel Shipyard’s scope of work in the conversion of a Moss Liquefied Natural Gas (LNG) carrier into an FLNG vessel includes the design, detailed ...

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Russia’s Novorossiisk port suspends oil loadings due to storm – Ifax

Oil loadings from Russia’s Black Sea port of Novorossiisk have been suspended since April 17 due to a storm, Interfax news agency quoted Russian pipeline monopoly Transneft as saying on Thursday. Transneft said it expected the storm to last until April 20, Interfax reported. Source: Reuters (Reporting by Natalia Chumakova Writing by Maria Kiselyova Editing by Tom Balmforth)

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British Ports Calling For Transport Funding And National And Regional Strategic Freight Integration Following NIC Report

The British Ports Association welcomes the focus on freight transport recommend by the National Infrastructure Commission but it suggests more investment in network capabilities and port connectivity is key to establishing better efficiencies. The quality of the transport network is critical for efficient freight movement and business growth. Commenting on the final report from the National Infrastructure Commission’s (NIC) Freight Study ‘Better Delivery: the challenge for freight’, the British Ports Association has called for new a government freight strategy and support for local authority roads budgets. Responding to the Study, ...

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India’s coal imports surge 40% owing to washery shortage

Coal India’s (CIL) delays in setting up coking-coal washeries inflated the country’s coal imports by $3 billion or over 40% in FY18, steel companies have estimated. The firms have warned that imports of the fuel, which could drive up India’s goods trade and current account deficit, could rise further if adequate number of domestic washeries are not set up in the public and private sectors. In letters sent to steel and coal ministries, the Indian Steel Association (ISA) has pointed out that if the situation does not improve, import bills ...

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Angola’s crude exports to hit lowest level in 13 years in June

Angola’s crude oil exports will fall in June to their lowest level in 13 years due to a shutdown at the Saturno field for maintenance, according to a preliminary loading programme and an industry source. Knock-on effects of production issues at the Girassol offshore platform in April have also contributed to the smaller programme. Angola’s export programme so far in June is set at 38 cargoes, down from May at 48 cargoes. More cargoes could be added later, including from a new field that came onstream this month. According to ...

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Brazil Loses its Share in Global Iron Ore Market

Within a scenario altered by the Brumadinho disaster, Brazil’s share in the global iron ore market is expected to decrease from 25.2 percent to 24.2 percent by 2019, a loss is estimated at US$ 1.6 billion. The dam tragedy led to the hardening of dam safety regulations and to a legal battle against the operation of several mines. Meanwhile, Australia’s share is expected to increase from 54 percent to 56.7 percent. According to a report issued by Australia’s Department of Industry, Innovation, and Science, producers in both countries hold high ...

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This Commodities Rally Has Legs, Thanks to China:

Iron ore’s glory days seem to be back. Singapore-traded rust climbed to its highest level since 2014 as it hit $93.83 a metric ton Friday, while port inventories in China suffered their sharpest weekly decline since 2015 – a typically bullish sign. Prices will rise further thanks to mine closures following a January tailings dam disaster in Brazil and Chinese steel mills don’t realize how tight ore supply could get, Shanghai Steelhome Information Technology Co. founder Wu Wenzhang told Bloomberg News in an interview. Rio Tinto Group on Tuesday likewise ...

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Oil prices slip, but ongoing supply cuts support

Oil markets fell on Thursday despite a surprise decline in U.S. inventories, but the price drops were tempered by a smaller-than-expected reduction in gasoline stocks and ongoing OPEC-led supply cuts. Brent crude futures were at $71.43 a barrel at 0700 GMT, down 19 cents, or 0.3 percent, from their last close and further away from Wednesday’s five-month high of $72.27 a barrel. U.S. West Texas Intermediate (WTI) crude futures were at $63.62 per barrel, down 14 cents, or 0.2 percent. Both contracts had traded slightly higher earlier in the day. ...

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Hell or high water in the Permian Basin?

From sourcing to disposal, water is becoming the largest challenge to field development in the Permian Basin. Failure to address these issues could increase costs, with potential consequences as severe as well shut-ins. The number of completed Permian wells continues to increase, and water disposal volumes are forecast to double by 2022, as we told the Houston Chronicle. This produces increasingly large volumes of water. Even with 100% water reuse for completions, which is unlikely, the current salt water disposal infrastructure is expected to hit capacity in the near future. ...

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Iran Oil Buyers Stay on Sidelines as Waiver Decision Looms

The biggest buyers of Iranian oil are said to be putting their purchases on hold as they wait to see whether the White House will extend waivers allowing them to keep buying the crude. Most Asian buyers are avoiding imports for next month as it’s unclear what will happen to the exemptions that are set to expire in the first week of May, according to people with knowledge of the matter. Even if the waivers are extended, it would be too late to order and receive cargoes for the month, ...

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Refinery news roundup: April-May works in Russia mostly in Far East

Russian refineries have little April maintenance in central regions, with larger scale maintenance scheduled in the Far East. There have been a number of fire incidents although those were not see as affecting supply. NEAR-TERM NEW AND REVISED ENTRIES –A CDU unit AVT-5 has been halted at Russia’s Perm refinery after a fire in mid April, local media reported. The rest of the refinery is operating, according to the report citing the refinery. –Fire services have extinguished some residue that caught fire at the Ufa refinery, the local emergency services ...

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U.S. crude stockpiles drop unexpectedly last week: EIA

U.S. crude oil stockpiles fell unexpectedly last week as imports dropped, while gasoline and distillate inventories decreased less than forecasts, the Energy Information Administration said. Crude inventories fell by 1.4 million barrels in week to April 12, compared with analysts’ expectations for an increase of 1.7 million barrels. A majority of the decline came from the Midwest region, where inventories fell 2.4 million barrels to 135.3 million barrels. Net U.S. crude imports fell last week by 659,000 barrels per day (bpd). Crude stocks at the Cushing, Oklahoma, delivery hub for ...

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China March refinery runs ease off record, crude output accelerates

Refinery output in China, the world’s second-largest oil consumer, eased from record highs in March after maintenance shutdowns offset production from a new mega refinery. Refinery throughput in March rose 3.2 percent from a year earlier to 53.04 million tonnes, or 12.49 million barrels per day (bpd), data from the National Bureau of Statistics showed on Wednesday. For the first quarter, crude runs rose 4.4 percent on a year earlier to 155.37 million tonnes, or 12.6 million bpd. March throughput was down from record rates in the January to February ...

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