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IPCO Power receives new order from Carnival Corp.

IPCO Power receives order to equip Sky Princess, Enchanted Princess and Pacific Explorer with its Water Fuel Emulsion (WFE) system the FID Injector. Each fuel module with scrubbers will be equipped with WFE technology to reduce particulate matter and soot emissions. We are happy to not only retrofit vessels, but also install on newbuilds said Bart Sluimer, General Manager IPCO Power. With the upcoming Sulphur cap there is more and more interest in scrubber systems. Especially now scrubber wash water is cleaner as expected by many. Most of the scrubbers ...

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PSA, PFR And IFM Investors Jointly Acquire The Deepwater Container Terminal Gdańsk (Dct Gdańsk)

On 21 May 2019, following formal approval by the relevant competition authorities, PSA International Ptd Ltd (PSA), the Polish Development Fund (PFR) and the IFM Global Infrastructure Fund (GIF), advised by IFM Investors, have completed the transaction to jointly acquire DCT Gdańsk, the largest container terminal in Poland. DCT Gdańsk is one of the fastest growing container ports in Europe and the only terminal in the Baltic that can serve Ultra Large Container Vessels (ULCVs) with a capacity of up to 23,000 Twenty-Foot Equivalent Units (TEUs). Container volumes handled by ...

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Gulf Coast Ports Scramble To Meet Mushrooming Crude Export Demand

The rapid build-out of new and expanded pipeline capacity is now beginning to transport steadily-rising volumes of oil, natural gas and natural gas liquids from the Permian Basin to the Gulf Coast. These volumes of light, sweet crude already exceed the capacity of refiners to process the oil into gasoline and other products, and are now testing the capacity of the coastal port system to accommodate demand for crude exports. The U.S. Energy Information Administration (EIA) reported that crude exports for the week ending May 10 surged back over 3.3 ...

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Sniffer drones will start patrolling the world’s busiest shipping ports

Teams of drones are about to start policing the skies of some of the world’s busiest shipping ports. Their target? Environmental rule-breakers. It might sound – and look – like something out of a Marvel Avengers movie, but for many ports around the world, these so-called sniffer drones are the best way to enforce new regulations aimed at cutting the air pollution caused by ships. Regulators are bracing for rules that are meant to lower shipping’s emissions of sulphur oxides, pollutants blamed for acid rain and aggravating human health conditions ...

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BPA: UK spending review must prioritise infrastructure funding to replicate EU mechanisms after Brexit

Ahead of this week’s gathering of Europe’s major port gateways at the European Sea Ports Organisation’s Annual Conference in Italy, the British Ports Association has written to the UK’s Chief Secretary to the Treasury, Liz Truss MP, requesting that the forthcoming Comprehensive Spending Review considers how to replicate the EU’s schemes that provide investment for the transport and infrastructure network. Commenting the British Ports Association’s Chief Executive Richard Ballantyne said: We are keen that the Government’s Comprehensive Spending Review provides for pro-investment transport strategies similar to the EU’s TEN-T and ...

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Saudi Arabia waits for higher spot prices before raising oil exports

Saudi Arabia is in no rush to increase oil production and exports, fearing that additional supply would risk a renewed build up of stockpiles and push prices lower. “Our preference is to maintain production management to keep inventories on their way declining gradually, softly, but certainly towards normal levels”, the kingdom’s oil minister said on Monday. Saudi policymakers are trying to balance the diplomatic imperative of maintaining good relations with the White House while keeping export revenues at an adequate level to support their own budget. The kingdom’s relationship with ...

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Russian Oil Sales to U.S. ‘on Steroids’ Amid Venezuela Sanctions

Petroleum exports from Russia to the U.S. are growing rapidly as the supplier takes advantage of lost deliveries from sanctions-hit Venezuela and supply cuts by OPEC members. In the first half of May, 13 ships from Russia delivered almost 5 million barrels of crude and oil products, according to a report by Caracas Capital Markets managing partner Russ Dallen. More supplies are en route, with American refiners set to triple their monthly intake of Russian crude, the largest foreign producer outside of OPEC. “Lately, Russian shipments coming to the U.S. ...

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China not signing deals to buy U.S. crude oil -Enterprise CEO

Chinese companies looking to sign long-term agreements to buy crude oil from U.S. oil exporters have virtually disappeared, the chief executive of Enterprise Products Partners LP said. The United States and China have been embroiled in an increasingly bitter trade dispute for nearly a year, and it escalated recently with the U.S. imposition of 25% tariffs on $200 billion of Chinese goods. The trade war has all but shut down shipments of U.S. crude to China, and it is unlikely Chinese buyers will sign long-term offtake agreements with U.S. crude ...

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Soybean farmers fear China tariffs could shut down business for good

The economic outlook for soybean farmers is dire. Trade Opens a New Window. is the lifeblood of the U.S. soybean industry, and right now it is ebbing away as soybean growers are unduly caught in the crossfire of the U.S.-China trade war Opens a New Window. . Many of us are wondering whether we will be able to remain in business past this year. We have already endured ten months of tariffs, and as this planting season begins, we fear that the latest rise in tensions could indefinitely delay an ...

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Oil prices drop on swelling U.S. stockpiles, trade war

Oil prices fell on Wednesday after industry data showed an increase in U.S. crude inventories and on demand concerns linked to a protracted trade war between China and the United States. However, analysts said oil markets remained tight amid supply cuts led by producer group OPEC and as political tension escalates in the Middle East. Brent crude futures were down 70 cents at $71.48 a barrel by 0906 GMT and are set for their biggest daily fall in eleven days. U.S. West Texas Intermediate (WTI) crude futures for July delivery ...

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Amid rising Gulf tension, two forces temper oil volatility

Last week was dramatic for the oil markets, with prices rising amid geopolitical tensions in the Arabian Gulf — yet two key forces, the China-US trade spat and OPEC+ alliance, acted as a counterbalance to the volatility. Political tensions ratcheted up, with four vessels being “sabotaged” off the port of Fujairah in the UAE, and drone attacks by the Iran-aligned Houthi militia on two pumping stations along Saudi Arabia’s critical East-West Pipeline. The pipeline, which has a capacity of about 5 million barrels per day (bpd), was built in the ...

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Growing Chinese export volumes seen pressuring Asian gasoline: sources

An uptick in Chinese gasoline export activity in the first half of May has sparked concerns over renewed oversupply in the region, turning sentiment among Asian gasoline market participants increasingly bearish, sources said. An estimated total of 260,000 mt of gasoline has already been offered on the spot market at the start of May by Chinese refiners, more than three times the 78,000 mt seen a month earlier, according to sources and open tenders seen by S&P Global Platts. “Even now we can see that activity from China has picked ...

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The oil and gas market in Asia is heating up

In 2011, the International Energy Agency (IEA) predicted a “golden age” of gas, where natural gas would be a “bridge fuel” between coal and renewable energy over the next two decades. But weak demand for natural gas in Asia in 2013 to 2015 forced the IEA to step back in June 2015 from its previously optimistic projection, concluding: Even so, the demand for natural gas in East Asia has still significantly increased after 2015, especially in South Korea and China. In South Korea, President Moon Jae-in promised to replace coal ...

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Refinery news round-up: Upgrades in Middle East remain in focus

Upgrades remain in focus in the Middle East, with more news emerging about upgrade progress at Iran’s refineries. Iran’s central Shazand oil refinery has hit a record among other plants in the country, reaching the target of lowering fuel oil production, state news agency IRNA reported. The country has on its agenda the reduction to below 10% of the low-profit fuel oil production in its refining industry. “Shazand refinery is using a unique technology and processes less than 7% of its feedstock to fuel oil, whereas in other refineries, more ...

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Global Stocks Waver After Retail Sales Decline

Global stocks paused on Wednesday after disappointing sales data from U.S. retailers on Tuesday and as trade tensions between the U.S. and China continued to overhang market activity. The Stoxx Europe 600 was nearly unchanged in early trade, with the U.K’s FTSE 100 up 0.4% and Germany’s DAX flat at the open. Asian indexes were mixed, with the Hong Kong Hang Seng and Korea’s Kospi both trading 0.2% higher while China’s Shanghai Stock Exchange dropped 0.6%. London-listed retailer Marks & Spencer Group was the biggest loser on the FTSE 100, ...

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