Home / Author Archives: hellenicshippingnews. (page 1798)

Author Archives: hellenicshippingnews.

Qatar’s ports record highest annual growth

Qatar’s ports have delivered an impressive performance last year with all round growth in all the segments. The ports in the country achieved highest annual performance in containers, vessels and livestock segments in 2018. The ports received 4,781 vessels and handled 1.34 million Twenty-Foot Equivalent Units (TEU) containers during the year. The ports also handled 1.4 million tonnes of general cargo; 71,173 vehicles; 324,248 tonnes of building materials and 957,487 heads of livestock in 2018. “Mwani Qatar continued to break record highs in 2018, maintaining excellent growth throughout the year, ...

Read More »

India’s Torrent Power seeks 5 LNG cargoes for 2019 – sources

India’s Torrent Power is seeking five liquefied natural gas (LNG) cargoes for delivery in 2019, two industry sources said. The utility company is seeking cargoes for delivery over February, May, July, October and December, one of the sources said. The tender closed on Jan. 9 and is valid until Jan. 11. The February cargo will be bought at a fixed price while the others will be linked to Brent oil prices, the first source added. Torrent Power distributes electricity to over 3 million customers every year in India, according to ...

Read More »

Why the US imports LNG despite its gas exports boom

More than a decade in and the US shale boom keeps breaking output records, with fields from Pennsylvania to Texas producing more natural gas than the country needs. That has triggered billions of dollars of investments to ship liquefied natural gas overseas. Yet the US is still importing LNG from places such as Russia and Nigeria. There are two reasons for that: Pipeline bottlenecks and the requirements of a 1920 law meant to support a robust US shipping industry. 1. Does the US consume more gas than it produces? No. ...

Read More »

Jordan issues new tender to buy 120,000 tonnes feed barley

Jordan’s state grain buyer has issued another international tender to purchase 120,000 tonnes of animal feed barley to be sourced from optional origins, European traders said on Monday. Tender deadline is Jan. 16. A new tender had been expected after Jordan made no purchase in its previous barley tender on Jan. 10 when only three trading companies participated. Jordan has struggled to purchase wheat and barley in tenders in past months after terms on specifications and payment were introduced, which reduced tender participation by international trading houses. The country has ...

Read More »

Egypt could compete with Russian gas exports to Europe

Egyptian natural gas is to officially begin flowing to Jordan in February for the first time in seven years. Gas exports to Jordan were expected to gradually return to previous levels, the Egyptian government said, as Cairo advances its plan to become a regional energy hub. “The resumption of exports to Jordan is a step on the road to sending Egyptian natural gas to other countries,” said Hamdi Abdel Aziz, Egyptian Ministry of Petroleum spokesman. “We are pinning a lot of hope on the return of our gas to international ...

Read More »

Soybeans ease as China’s imports drop; wheat snaps 2-day rally

Chicago soybean futures lost ground on Monday as imports by the world’s biggest buyer China dropped for the first time since 2011, following a trade war between Washington and Beijing. Wheat slid after two days of gains which were driven by expectations of increased demand for U.S. supplies due to shortage in rival exporters Russia and Ukraine. The most-active soybean contract on the Chicago Board Of Trade fell 0.3 percent at $9.07-3/4 a bushel as of 0310 GMT, having firmed 0.4 percent on Friday. Wheat was down 0.3 percent at ...

Read More »

Oil Price Dips on Weak Chinese Data

Oil prices fell Monday on the back of weak Chinese trade data, which provided a fresh signal the world’s second-largest economy is slowing. — Brent crude, the global oil benchmark, was trading down 1.9% at $59.32 a barrel on London’s Intercontinental Exchange. — West Texas Intermediate futures, the U.S. oil standard were down 2.2% at $50.79 a barrel on the New York Mercantile Exchange. HIGHIGHTS China: An unexpected decline in Chinese imports and exports in December weighed on equities and commodities Monday, as investors feared a further slowdown in the ...

Read More »

Conventional oil field in southern U.S. shows unconventional production potential

A conventional source of crude oil in southern U.S. region holds an estimated 16 billion barrels of oil and more than 200 trillion cubic feet (about 5,663 billion cubic meters) of gas, according to new energy research released by IHS Markit. The IHS Markit Complete Play Analysis of the Greater Anadarko Basin, Texas, Oklahoma and Kansas, USA, is the first phase of a comprehensive, 18-month-long project to model and interpret the large basin’s key geologic characteristics to better estimate its remaining hydrocarbon potential. The Greater Anadarko Basin, covering an area ...

Read More »

Outlook 2019: India’s oil sector hopes for policy continuity in election year

Lower crude oil prices have improved the outlook for India’s oil demand growth in 2019, but the pace of rise will largely hinge on the continuity of energy reforms and economic policies pursued over the past four years, as the country gears up to hold federal elections. Oil analysts told S&P Global Platts that it’s crucial that some key initiatives of the government — such as building roads, industrial infrastructure, expansion of LPG network, as well as plans to boost the airport network — continue in the same pace after ...

Read More »

Russia begins oil output cuts as Opec+ deal kicks in

Russia is gradually reducing oil production in line with the Opec+ deal and is on track to get about a fifth of the way toward its pledged cut this month. Preliminary data show the nation’s output has already fallen by more than 30,000 barrels a day relative to October levels, Energy Minister Alexander Novak said Friday. “The companies have said they can decrease total production by 50,000 barrels per day in January,” he told reporters in Moscow. Russia has agreed with Opec to gradually implement a cut of 228,000 barrels ...

Read More »

Oman oil production already in line with OPEC-led cut targets: oil minister

Omani oil production is already at the correct level to comply with the recent OPEC-led supply cut agreement, the country’s oil minister Mohammed al-Rumhy said. Oman is pumping 970,000 b/d, right at its quota for 2019, Rumhy told reporters on the sidelines of an Atlantic Council energy forum in Abu Dhabi. “We managed to go up to nearly 1 million b/d [in November], then the last agreement in Vienna we committed to cut 2.5% and that pulled us down to 970,000 b/d, and that’s where we are now,” Rumhy said. ...

Read More »

China trade shock hits global stocks, commodities

Global stock markets and commodities took a hit on Monday after a shock contraction in Chinese trade pointed to deepening cracks in the world’s second-largest economy and sparked fears of a sharper slowdown in global growth. Data from China showed imports fell 7.6 percent year-on-year in December while analysts had predicted a 5 percent rise. Exports dropped 4.4 percent, confounding expectations for a 3 percent gain. The data reinforced fears U.S. tariffs on Chinese goods were starting to hit China’s cooling economy, while softening demand has been felt around the ...

Read More »

If the shutdown lasts two more weeks, the cost to the economy will exceed price of Trump’s wall

If the government shutdown lasts another two weeks, the total cost to the U.S. economy would exceed the price of building the proposed border wall. According to an estimate by S&P Global Ratings, it will only take another two weeks to cost the economy more than $6 billion, exceeding the $5.7 billion that President Donald Trump demanded to fund his proposed border wall. The U.S. economy will have lost $3.6 billion by Friday, according to S&P. “We estimated that this shutdown could shave approximately $1.2 billion off real GDP in ...

Read More »

Chinese investors ‘facing severe situation in the US’

Chinese firms have been warned that the investment environment in the United States is rapidly deteriorating in a report that also called for more government protection for the country’s increasing overseas interests. In its sixth annual report evaluating country-specific investment risks, the Institute of World Economics and Politics, a government think tank under the Chinese Academy of Social Sciences, ranked the United States investment environment as number 14 out the total of 57 countries, a drop of 10 places from a year ago. The institute also gave the world’s largest ...

Read More »

Chinese growth is more of a concern than the American economy right now, private bank says

The Chinese economy is a bigger worry right now than the U.S. economy, according to an investments expert at a private bank. Speaking to CNBC on Friday, Felix Brill, the head of investment solutions at Liechtenstein-based VP Bank, said investors should expect more market volatility due to the ongoing trade war negotiations between Washington and Beijing. Still, he ultimately expressed optimism that China’s leaders will keep their economy together. “The Chinese economy is, at the moment, a bigger cause of concern right now compared to the U.S. economy,” Brill told ...

Read More »

Recent Videos

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