Home / Author Archives: hellenicshippingnews... (page 9)

Author Archives: hellenicshippingnews...

Russia, Ukraine agree to protect Ukraine grain shipping channel

Ships exporting Ukraine grain through the Black Sea will be protected by a 10 nautical mile buffer zone, according to long-awaited procedures agreed by Russia, Ukraine, Turkey and the United Nations on Monday and seen by Reuters. The United Nations and Turkey brokered the agreement last month after U.N. warnings that the halt in grain shipments caused by Russia’s invasion of Ukraine was stoking severe food shortages and even outbreaks of famine in parts of the world. Since then a number of grain shipments – mainly onboard vessels that were ...

Read More »

China’s marine economy stabilizes in first half

China’s marine economy recovered steadily in the first half of 2022, as the country has been striving to respond to COVID-19 and pursue economic and social development in a well-coordinated manner, according to the Ministry of Natural Resources. According to preliminary calculation, China’s gross ocean product grew 1.2 percent year on year to 4.2 trillion yuan (about 623.1 billion U.S. dollars) in the first half. For traditional marine industry, the output of offshore crude oil and natural gas increased by 7.4 percent and 12.4 percent from a year ago, respectively. ...

Read More »

The first Ukraine grain cargo refused by buyer -Ukrainian embassy in Lebanon

The Razoni, the first ship to depart Ukraine under an U.N.-brokered deal, is looking for another port to unload its grain cargo as the initial Lebanese buyer refused delivery citing a more than five-month delay, Embassy of Ukraine in Lebanon said on Monday. “According to the information provided by the shipper of the Ukrainian grain aboard the Razoni, the buyer in Lebanon refused to accept the cargo due to delays in delivery terms,” the embassy said in a Facebook post. “So the shipper is now looking for another consignee to ...

Read More »

MABUX: Global bunker market to stay in standby position with no firm trend on Aug 09

MABUX World Bunker Index (as index calculated on current prices for 380 HSFO, VLSFO and MGO in the main world hubs) did not have a firm trend and changed irregular on Aug. 08: 380 HSFO – USD/MT – 591.91(+2.11) VLSFO – USD/MT – 835.68 (-11.83) MGO – USD/MT – 1 122.11 (-23.32) As of August 08, the MABUX MBP/DBP Index (MDI) (comparison of market bunker prices and the MABUX digital bunker price benchmark) still had no substantial changes: the HSFO segment was mostly undervalued, the VLSFO segment was overvalued, and ...

Read More »

Rhine’s low water levels hit German shipping, minister touts dredging

Low water levels on the Rhine River are threatening further problems for the German industry, which is troubled by high energy costs, disrupted supply chains and inflationary prices. The water levels on the Rhine have recently continued to drop due to soaring hot temperatures and lack of rainfall in the region. Minister touts dredging plan as water levels sink As some ships were unable to traverse the key waterway fully loaded, Transport Minister Volker Wissing called for the river to be dredged to allow for more freight to travel along ...

Read More »

NYK to Build Its Fourth LPG Dual-Fuel Very Large LPG / NH3 Carrier

NYK is delighted to announce the order of its fourth liquefied petroleum gas (LPG) dual-fuel very large LPG / liquefied ammonia gas (NH3) carrier (VLGC) from Kawasaki Heavy Industries Ltd. (KHI). The ship will be built at the KHI Sakaide Works shipyard and is set for delivery in 2025. Like the LPG dual-fuel very large LPG / NH3 carriers already ordered by NYK, the vessel will be equipped with separate cargo tanks designed to carry LPG and ammonia at the same time to flexibly respond to various trade patterns. Ammonia ...

Read More »

MMi Daily Iron Ore Index Report August 09 2022

DCE iron ore was was shocked sharply all the day.The main contract closed at 723,decreased of 1.36%. Traders are generally motivated to

Read More »

Shipping lines face margin pressure as freight falls steeply

As freight rates continue to fall, profitability of the bulk cargo shipping carriers such as Great Eastern Shipping and state-run Shipping Corporation of India (SCI) may take a dip in the current quarter. The Baltic Dry index, which provides a benchmark for sea freight of moving major raw materials stood at 1,560 points on Friday, its lowest point since February as demand remained weak across all vessel categories amid the uncertainty around global economic growth. The index, which takes into account 23 different shipping routes, has declined by 23% in ...

Read More »

Korea and China Competing in the Nascent Methanol-powered Ship Market

Competition is expected to intensify between Korean and Chinese shipbuilders in the methanol-powered ship market. French shipping company CMA CGM, the world’s third-largest shipping company, recently decided to place an order for six 15,000-TEU methanol-powered ships with Dalian Shipbuilding of China, not with a Korean shipbuilder. As the price per ship is US$175 million (about 229.3 billion won), the entire value of the contract is worth over one trillion won. Although Korean shipbuilders also sought to win the order, CMA CGM favored Dalian Shipbuilding, considering the delivery time and prices. ...

Read More »

Scottishpower Vision For Green Hydrogen Fuels Hub At Port Of Felixstowe

ScottishPower, with Hutchison Ports, is exploring the opportunity to develop, build and operate a multi-hundred MW green hydrogen production facility at the Port of Felixstowe – with the potential to decarbonise industry and transportation in the region. Both companies have set out their vision to help create a greener port, which could provide clean fuel for customers at Britain’s busiest container port. Plans are being developed to use green hydrogen for onshore purposes, such as road, rail and industrial use, with the potential to create liquid forms, such as green ...

Read More »

U.S. sour crude cargo sails to Germany as Russia sanctions bite

A tanker of U.S. sour crude was delivered at Germany’s port of Rostock last week for the first time ever, according to sources, analysts and vessel tracking data, as local refiners test alternatives to Russian oil. The European Union plans an almost-complete embargo of Russian barrels by year-end, and is trying to wean itself off Russian crude imports, which have fed inland refineries in Germany, Poland and other central European nations via pipeline. Refiners plan to replace Russian oil with seaborne Norwegian, Saudi Arabian, British and U.S. crude grades. Russia ...

Read More »

China July copper imports rise on-year as price slump spurs buying

China’s imports of copper rose 9.3 per cent from a year earlier, customs data on Sunday (Aug 7) showed, as a sharp drop in the price of the metal triggered buying appetite amid falling domestic inventories. Unwrought copper and copper product imports into China, including anode, refined, alloy and semi-finished copper products, totalled 463,693.8 tonnes in July, compared with 424,280.3 tonnes a year earlier. July’s copper imports, however, were down 13.8 per cent from the previous month’s 537,698 tonnes. Copper prices, often seen as an economic bellwether, plunged by one-third ...

Read More »

July crude imports rise 1% from June’s 47-month low to 8.8 mil b/d

China’s crude oil imports remained weak, as expected, in July, edging up a mere 0.9% to 8.83 million b/d from the 47-month low in June amid destocking activity and slow domestic demand recovery, data from the General Administration of Customs showed Aug. 7. The increase in inflows in July was contributed by independent refineries which lifted their crude imports by 25.4% to 3.16 million b/d, from 2.52 million b/d in June, according to S&P Global Commodity Insights data. Meanwhile, their state-owned peers are more likely to continue reducing spot purchases ...

Read More »

Corn jumps 1.5%, soybeans gain as U.S. crop ratings drop

Chicago corn climbed more than 1% on Tuesday and soybeans rose after a weekly report from the U.S. Department of Agriculture (USDA) signalled that the condition of both crops deteriorated. Wheat climbed for a second session in a row, although expectations of higher Ukrainian supplies limited gains. Crop Watch producers in the western U.S. Corn Belt trimmed ratings across the board after a hot and mostly dry week last week, though recent rains have bolstered prospects in the east, Karen Braun, a market analyst for Reuters, wrote in a column. ...

Read More »

Oil slips amid chance of Iran nuclear deal supply boost

Oil prices slipped on Tuesday as traders eyed the latest progress in last-ditch talks to revive the 2015 nuclear accord with Iran, which would clear the way to boost its crude exports in a tight market. Brent crude LCOc1 futures were down 86 cents, or 0.9%, at $95.79 a barrel at 0725 GMT, after gaining 1.8% in the previous session. U.S. West Texas Intermediate (WTI) crude CLc1 futures declined 88 cents, or 1%, to $89.88 a barrel, after climbing 2% in the previous session. “Much attention remains with Iran nuclear ...

Read More »

Recent Videos

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