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Pentland Ferries takes delivery of BMT’s 85m Ro-Pax Cat

BMT Specialised Ship Design has recently designed an 85m catamaran vehicle-passenger ferry built by Strategic Marine Vietnam, for family-owned Scottish ferry operator Pentland Ferries. The vessel is the latest in a series of collaborations between Strategic Marine and BMT, which now includes a variety of ferries and the extensive portfolio of windfarm support vessels, with the partnership continuing to expand. The MV Alfred, delivered on Thursday 29th August, was named after the father of Andrew Banks, the owner and managing director of Pentland Ferries. John Bonafoux, Business Development Director of ...

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Oil rises, supported by U.S. fuel stock draws but weighed by crude build

Oil prices rose about 1% on Thursday after draws in U.S. fuel inventories, but gains were capped by a larger-than-expected rise in crude stockpiles and a series of weak economic figures. Global benchmark Brent crude LCOc1 rose 49 cents, or 0.8%, to settle at $59.91 a barrel. U.S. WTI crude CLc1 gained 57 cents, or 1.1%, to settle at $53.93 a barrel. U.S. gasoline stocks USOILG=ECI fell by 2.6 million barrels in the week to Oct. 11, while distillate stockpiles USOILD=ECI, which include diesel and heating oil, fell by 3.8 ...

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Lloyd’s Maritime Academy Adds New Technology & Innovation Courses to Portfolio

Lloyd’s Maritime Academy, the experts in life-long learning for maritime professionals, has launched a new portfolio of courses focusing on Technology and Innovation. Paul Napper, Course Developer at Lloyd’s Maritime Academy comments: “Digitalisation is becoming part of everyday life within shipping where techniques from other industries such as big data and cybersecurity are being adopted. It’s important that people working within maritime have a strong understanding of these techniques and the positive impact they can have. Maritime assets such as ships are expensive therefore, we need to ensure we protect ...

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MTE Conference and SHELL announce partnership

The Maritime Transport Efficiency Conference (MTE Conference) is pleased to welcome SHELL amongst its partners. On 1 January 2020, the International Maritime Organisation (IMO) will implement a new regulation for a 0.50% global sulphur cap for marine fuels. Ships will have to use marine fuels with a sulphur content inferior to the current limit in an effort to reduce the amount of sulphur oxide. Shell Gas To Liquid is one of the solutions available on the market. It can be used in any diesel engine and will result in a ...

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Inside Adani’s plans to haul coal from Carmichael to the coast

Amid the protests and the brickbats, Adani has found a friend. Queensland’s dominant rail freight company, Aurizon, is under pressure from shareholders not to haul coal for Adani One of Australia’s leading rail freight companies has publicly disclosed that it is willing to service Adani’s Carmichael mine, despite an intense campaign by environmentalists aimed at dissuading companies from dealing with Adani. Pacific National, the major rail freight company in NSW and the fastest growing in Queensland, told the ABC: “We haul coal, that’s what we do.” But the company may ...

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Australia’s South32 coking coal output rises 9% on Illawarra ramp-up

South32 Ltd on Thursday reported a 9% rise in coking coal production for the first quarter, as the miner ramped up output at its Illawarra project in New South Wales. Production of the steel-making ingredient, known as metallurgical or coking coal, was about 1.7 million tonnes in the September quarter, compared with 1.5 million tonnes a year earlier. The Illawarra operations, which account for nearly all of the company’s coal output, rose 9% in the quarter. The miner maintained its fiscal 2020 production forecast across all of its operations, with ...

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Mining entities in Karnataka expect iron ore prices to drop further

Mining entities in Karnataka are expecting iron ore prices to fall as supply from NMDC’s Donimalai mines is likely to restart. Also, lesser offtake due to a decline in demand for the steel sector. To ensure seamless renewal of mining leases allocated to the government companies, the Union government recently amended the Minerals (Mining) by Government Companies Rules, 2015. A major beneficiary would be NMDC, which got into a legal battle with the Karnataka government over Donimalai, after it was asked to pay a premium equivalent to 80 per cent ...

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Wheat hits 3-month high on short-covering, cold U.S. weather

Chicago wheat futures rose for a second session on Thursday to hit a three-month high, with short-covering by funds and cold weather in the U.S. grain belt underpinning the market. Soybeans edged higher for the first time in three sessions, although gains were checked as traders waited for more clarity on U.S.-China trade negotiations. The most-active wheat contract on the Chicago Board Of Trade added 0.3% at $5.15 a bushel by 0253 GMT, after climbing to its highest since July 19 at $5.16-1/2 a bushel. Soybeans were up 0.2% at ...

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BHP hits halfway mark on $5b WA iron ore mine

The nation’s biggest mining company, BHP, has hit the halfway mark in developing a new iron ore mine in Western Australia. The new South Flank site is expected to produce the steelmaking raw material for at least 25 years, as the company’s Yandi mine nears the end of its life. BHP on Thursday announced that works on the $US3.6 billion ($5.3 billion) South Flank site in the WA Pilbara were now 50 per cent complete and the first ore is on track to be extracted by 2021. The mining giant ...

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Moody’s expects Powder River Basin coal mine closures in early 2020s

Coal mined from the Powder River Basin, the most productive coal-producing area in the US, is expected to decline significantly next year and could pressure companies to close “at least a few” mines there in the early 2020s, Moody’s Investors Service wrote in a note. Multiple bankruptcy restructurings and a planned joint venture between Arch Coal and Peabody Energy in the PRB have recently changed the region’s competitive landscape. But that has not fundamentally altered its poor overall long-term trajectory, wrote Benjamin Nelson, a vice president and senior credit officer ...

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Dubai futures: Sour crude steadies as December trading gets underway

Benchmark Dubai crude futures remained steady to a tad softer during mid-morning trading in Asia on Thursday, as trading for December-loading Middle East cargoes picked up pace toward the end of the week. The sour crude complex had been trading in a well-worn range for most of October on scant spot market activity, with no fresh cues from trading to provide specific direction on sentiment. But this changed Wednesday, when a dip in high freight rates kicked off spot market inquiries for December-loading cargoes of high sulfur crude, prompting the ...

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Australian Santos’ Jul-Sep LNG sales fall 9% on year to 731,000 mt

Australia-based Santos’ LNG sale fell 9% year on year in the July-September quarter when it undertook planned maintenance at its Gladstone LNG facility while damage impacted output at PNG LNG, the company said Thursday in its third quarter activities report. The company’s average sale price for LNG during the three month period was $10.04/MMBtu, down from $10.43/MMBtu a year earlier, but more than double the prices seen in the spot markets. S&P Global Platts JKM, the benchmark price for spot deliveries into north Asia, averaged $4.457/MMBtu in July-September, Platts data ...

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Industry must bolster argument for long-term role of US gas: BP executive

The US natural gas industry must reduce carbon emissions throughout the supply chain as the sector seeks to secure its place in a world increasingly focused on combating climate change, according to BP Energy President and CEO Orlando Alvarez. Alvarez’s call to action during an October 15 keynote address at LDC Gas Forums’ Gulf Coast Energy Forum underscored how an array of policy challenges has unsettled the natural gas sector. “There is an increasing concern that gas could be marginalized,” said Alvarez, who is the head of BP PLC’s North ...

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U.S. stock market is overvalued, IMF says

An environment of low interest rates has set off a search for yield and created stretched valuations in risk assets, including the U.S. equity market, according to an International Monetary Fund report released Wednesday. “Equity markets appear to be overvalued in Japan and the United States,” the IMF said, in its latest Global Financial Stability report. When markets have stretched valuations, it raises the possibility of sharp sudden adjustments, the report warned. The IMF said investors seem to believe that the Federal Reserve and other central banks will respond quickly ...

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India to miss fiscal deficit target by 30-50 bps – sources

India is likely to miss its fiscal deficit target of 3.3% of gross domestic product for the current financial year by 30-50 basis points, two sources said, due to the sharp slowdown in the economy that has severely crimped tax collection goals. The government is now trying to cap the fiscal deficit for 2019/20 at 3.8% of GDP from the target set during the budget presented in July, the two officials told Reuters. The government is also likely to defer lowering the fiscal deficit to 3% of GDP by a ...

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