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Intra-Asia Market: North South Express (NS1) Service Update

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

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HHLA makes substantial contribution to the energy transition: Container transporters support grid stability as mobile power storage units

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. ...

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Saudi Ports issues first unified shipping agency license

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

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Victoria Latest To Apply Surcharge Down-Under

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. ...

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Russia Data: Jan-Dec oil product exports up 1.1% at 150.052 mil mt

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 ...

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Indian steel firms pushing govt for higher taxes on steel imports

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, ...

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South Africa needs coal ‘until at least 2040’, panel argues

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 ...

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Consol Energy sees record coal production, sales in 2018

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 ...

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Goldman Plans to Pull Back Commodities Trading Operations

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 ...

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Soybeans head for second straight weekly loss

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 ...

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India: Wheat institute expects record output of 105 mt

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 ...

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Oil Prices Struggle for Direction Amid Supply Risks, Economic Doubts

— Oil prices were mixed Friday morning as potential risks to Libyan supply were weighed against renewed concerns over a global economic slowdown. — Brent crude, the global oil benchmark, was trading up 0.24% at $61.78 a barrel on London’s Intercontinental Exchange. — West Texas Intermediate futures, the U.S. oil standard, were down 0.15% at $52.56 a barrel on the New York Mercantile Exchange. HIGHLIGHTS Libya: Prices were being supported somewhat Friday morning after clashes resumed near Libya’s biggest oil filed, the Sharara, dashing expectations that production will resume soon ...

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U.S. House panel passes bill targeting OPEC oil supply cuts

A U.S. House of Representatives committee approved a bill on Thursday that would open up the Organization of the Petroleum Exporting Countries to antitrust lawsuits, but it was uncertain if the measure would be considered by the full chamber. The House Judiciary Committee passed the bipartisan bill, known as the No Oil Producing and Exporting Cartels Act, or NOPEC, on a voice vote. The legislation would change U.S. antitrust law to revoke the sovereign immunity that has long protected OPEC members from U.S. lawsuits. It allows the U.S. attorney general ...

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Fuel diversity is key because coal, gas both have limits: PJM official

Both gas-fired and coal-fired power plants have weaknesses when it comes to fuel security, an official from PJM Interconnection told state energy officials Wednesday, highlighting the importance of fuel diversity in the broader conversation of grid resilience. The issue is significant because the Trump administration pointed to fuel security when it floated ideas to prop up struggling coal and nuclear plants. And PJM could propose market fixes in 2020 to address potential fuel security issues. PJM could technically operate the system on only one type of fuel, but it would ...

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Shell buys into 190 mln boe Cluff gas projects in UK North Sea

* Royal Dutch Shell bought stakes and options in gas licenses in the southern British North Sea estimated to contain a total of 190 million barrels of oil equivalent from Cluff Natural Resources, Cluff said on Friday. * Cluff’s P2437 license, of which Shell now has an option to buy 50 percent until April 30, contains the Selene prospect next to Shell operated infrastructure linked to the Barque gas field which exports gas into the Bacton Gas Terminal. * Shell agreed to buy 70 percent of the P2252 license and ...

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