Home / Author Archives: hellenicshippingnews. (page 5)

Author Archives: hellenicshippingnews.

Argentine farmers consider lifting strike under new corn export policy

Argentine farmers may lift the strike they started at midnight as they evaluate a policy announced on Monday that places a temporary 30,000-tonne daily cap on export sales. The new policy replaces the government’s previous plan to suspend international corn shipments from the world’s No. 3 supplier until March. That original policy was announced on Dec. 30. Farmers hated the proposal and went on a sales strike that started at midnight on Sunday. The government says it is trying to control domestic food prices amid a long recession and the ...

Read More »

Indonesia refined palm oil exports to rise in 2021 on tax changes

Indonesia, the world’s biggest palm oil producer, will increase its refined palm oil exports after raising taxes, leaving Malaysia to become more competitive in crude palm oil (CPO) exports, a leading industry analyst said. The reordering of palm oil trading follows Indonesia’s decision last month to raise the export levy to a progressive system of $55 to $255 per tonne of CPO, depending on price levels to generate funds for its palm-based biodiesel programme. This gives Indonesian refiners a sizeable advantage over rival Malaysian refiners in the export market, even ...

Read More »

Temporary Turkish import tariff cut opens opportunities for European rice exporters

European market participants anticipate that a recent temporary reduction in Turkish rice import tariffs is likely to increase Japonica sales from the continent. The Turkish Grain Board, or TMO, confirmed to S&P Global Platts that the import tariffs on paddy, brown and milled rice have been lowered from 34%, 36% and 45% to 5%, 10% and 15%, respectively, until April 30. While Turkish production in 2020 decreased slightly year on year, the TMO cited the weakness of the lira against the dollar as the primary rationale behind the policy. The ...

Read More »

Indonesia’s coal sector welcomes 2021 with optimism as price surges

The future of Indonesia’s coal sector in 2021 appears to be optimistic, in view of a price increase at the opening of the year and high demand from China — an economy that is recovering amid the pandemic. In a trading session on Tuesday (5 January), numerous coal shares performed well, Bloomberg data showed. Shares of PT Delta Dunia Makmur Tbk strengthened 1.1 per cent, followed by that of PT TBS Energi Utama Tbk which was up 0.95 per cent, Bisnis Indonesia reported. Coal’s benchmark price for January was US$75.84 ...

Read More »

Soybeans, wheat, corn up before USDA report, Russian export tax underpins

Chicago soybeans, wheat and corn rose on Tuesday as investors awaited forecasts from the U.S. Department of Agriculture (USDA) of global grain and oilseed production later in the day. Wheat was underpinned by reports that Russia will increase its planned tax on wheat exports. “Attention is on the USDA report, the market is expecting it to be bullish as it is likely to trim global corn and soybean inventories,” said one Singapore-based trader. “But it can turn out to be the other way, less bullish than expected.” Chicago Board of ...

Read More »

Vale Stock Rises Almost 3x; What’s Changed?

After rising almost 3x from its March lows of 2020, at the current price of $19 per share, Vale stock (NYSE: VALE) looks fairly valued at the moment. The stock rallied from less than $7 to $19 off its recent bottom compared to the S&P 500 which increased 70% from its recent lows. The stock has outperformed the broader market with the US government announcing a string of measures along with stimulus packages announced in other economies to keep businesses afloat, which led to a sharp rise in iron ore ...

Read More »

Third of oil and gas workers faced pay cut in 2020 due to pandemic, survey shows

Almost one in three workers in the oil and gas industry faced pay cuts in 2020, a worldwide survey showed on Tuesday, as the coronavirus crisis drove down fuel demand and prices. Oil and gas workers are still among the highest paid in the world, but a majority of those questioned said they felt less secure about their jobs than a year ago, as the shift to low-carbon energy sources pushed down investment in their industry. Salaries in the sector are closely tied to oil prices, which plummeted last year ...

Read More »

Qatar raises February Marine, Land crude official selling prices

Qatar Petroleum has set the February official selling price (OSP) for its Marine crude at 70 cents a barrel above the average of Platts Oman and Dubai quotes, up 50 cents from the previous month, a pricing document showed on Monday. The February OSP for Qatar Land crude was set at 40 cents a barrel above the Platts Oman/Dubai average, up 40 cents from the previous month, the document showed. Source: Reuters (Reporting By Shu Zhang; Editing by Edmund Blair)

Read More »

Kuwait’s KPC raises February crude OSPs to Asia, lowers prices to US, Europe

Kuwait Petroleum Corp. raised its February official selling prices for crude bound for Asia, while it lowered prices of its crude heading to the United States and Europe, according to a notice seen by S&P Global Platts Jan. 11. KPC raised the OSP differential of its Asia-bound barrels of Kuwait Export Crude by 40 cent/b to plus 65 cents/b against the average of Oman and Dubai crude assessments for February. The differential for its Kuwait Super Light crude to Asia also increased, from plus 10 cents/b in January, to plus ...

Read More »

Baltic Dry Index climbs to 1,849, up 88 points

Today, Tuesday, January 12 2021, the Baltic Dry Index climbed by 88 points, reaching 1849 points.

Read More »

Baltic Dry Index climbs to 1,761, up 155 points

Today, Monday, January 11 2021, the Baltic Dry Index climbed by 155 points, reaching 1761 points.

Read More »

We want your opinion on the new edition of BARGEHIRE

BIMCO has been busy updating BARGEHIRE 2008 and the project is close to completion. But before we finalise and publish the new edition in March, we would like to hear the views of barge owners, operators and charterers. Your comments and views received by 13 January 2021 will help shape a successful new BARGEHIRE. You can get a copy of the consultation draft from this news piece or by contacting [email protected] One of the key drivers behind the revision of BARGEHIRE 2008 has been operational and commercial issues concerning repairs ...

Read More »

Diamond S Shipping Inc. Provides an Update on an Incident Involving One of Its Vessels

Diamond S Shipping Inc. announced that the four crew members who had been kidnapped from one of its product tanker vessels, the Agisilaos, on November 29, 2020 were released yesterday, January 6, 2021. All four crew members are safe and will undergo further medical examinations today. Diamond S would like to thank all those involved in securing their release. Due to the sensitive nature of the incident, Diamond S will provide no further updates on this matter. Diamond S Shipping Inc. (NYSE Ticker: DSSI) owns and operates 65 vessels on ...

Read More »

Odfjell SE: Contemplated sustainability-linked bond issue

Odfjell SE (the “Company”) has mandated DNB Markets, Nordea and SEB to arrange a series of fixed income investor calls commencing January 11, 2021. Following the investor calls, a sustainability-linked NOK denominated four-year senior unsecured bond issue may follow, subject to market conditions. Proceeds from the potential bond issue will be used for general corporate purposes, including refinancing of existing bonds. The potential bond issue will be linked to Odfjell’s fleet transition plan and ambition to reduce the carbon intensity of its controlled fleet by 50% by 2030 compared to ...

Read More »

Tankers set course for thick ice as part of experiment on Northern Sea Route

It has been under planning for a long time, and repeatedly announced by Russian Arctic developers. On the 5th of January, the Christophe de Margerie set out from LNG terminal Sabetta with east-bound course for Chinese port Dalian. Eleven days earlier did the Nikolay Zubov leave Dalian with course for Sabetta. While the former is expected to reach its destination in China on the 26th of January, the latter is due to arrive in Sabetta on the 16th of January. Never before have two commercial ships conducted this kind of ...

Read More »

Recent Videos

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