Home / Author Archives: hellenicshippingnews.. (page 2)

Author Archives: hellenicshippingnews..

BHP dark on thermal coal’s future

BHP says it has no appetite for new investments in thermal coal, regardless of how lucrative those investments may be, but has also signalled it is unlikely to invest in commodities like lithium and cobalt. The hardening of BHP’s attitude toward the type of coal used for power generation was revealed in a slide pack published ahead of a strategy briefing by chief financial officer Peter Beaven. BHP chief financial officer Peter Beaven. Wayne Taylor The presentation declares that the decarbonisation of the energy sector will see thermal coal ”phased ...

Read More »

Pole Star & Dow Jones Risk & Compliance partner on vessel tracking solution

The partnership enables users of Dow Jones’ trade compliance solution to access additional intelligence for vessel screening and monitoring via Pole Star’s award-winning PurpleTRAC software. PurpleTRAC provides a vessel’s complete voyage history and screening checks for advanced auditing, combining Transponder signals with Inmarsat Satellite tracking. “Assessing the risk associated with a trade transaction — from the goods themselves to the vessel and counterparties involved — is increasingly important given regulatory pressures around international trade,” said Guy Harrison, General Manager of Dow Jones Risk & Compliance. “By combining Dow Jones’ highly ...

Read More »

MAN Energy Solutions Announces Development of Low-Pressure, Two-Stroke, Gas Engine

MAN Energy Solutions Two-Stroke Business Unit has announced that it has initiated the development of a low-pressure gas engine as a supplement to its existing, successful dual-fuel ME-GI engine. The company cites market demand as the rationale behind the move. Bjarne Foldager – Senior Vice President, Head of Two-Stroke Business at MAN Energy Solutions – said: “We already offer the most sophisticated and technologically-advanced gas engine on the two-stroke market with our ME-GI type, and we are hungry for more. With this announcement, we expect to cater for the segment ...

Read More »

Dalian iron ore hits record high as bullish outlook persists

China’s iron ore futures jumped to a new record high on Wednesday, fuelled by a persistently bullish outlook as steel mills look to source raw material after running down stocks. The most-traded iron ore futures on the Dalian Commodity Exchange climbed as much as 4.1% to 733 yuan ($106.08) per tonne, the highest since contracts were launched in 2013. It closed up 3.4% at 728 yuan a tonne. Steel mills have been operating at low inventory levels and only purchasing hand-to-mouth from ports due to high raw material prices. Market ...

Read More »

India’s thermal coal output seen growing 4.3% annually till 2028: Report

Fitch Solutions on Tuesday said India’s thermal coal output is projected to grow at an average annual rate of 4.3% by 2028. “In absolute volume terms, China and India will have the largest impact on the global coal market balance,” Fitch Solutions Macro Research said in a report. It further said the surge in Chinese imports that occurred over 2015-2017 as a result of dramatic domestic production curbs was a temporary phenomenon. “We forecast thermal coal production in China to stagnate at 0.5% growth per annum from 2019 onwards, but ...

Read More »

European coal terminals near full capacity

Coal inventories at northwest European import terminals are nearing full capacity amid slack generation demand, with some spot vessels now being turned away, according to port sources. A mild winter coupled with high levels of renewable power generation and a utility preference for gas – due to more attractive generation margins – has resulted in the bulging port stocks. Stocks at four key Amsterdam, Rotterdam and Antwerp (ARA) dry bulk terminals were assessed this week at 7m tonnes, marginally below early April’s multi-year high of 7.27m tonnes, but nearly 50% ...

Read More »

US policy cranks up the risks to oil supply – and price

Geopolitics is never far from the fray. The oil market was chronically oversupplied a few months ago. Now Brent is back over US$70/bbl as tension builds around some of OPEC’s bigger producers. Could prices go higher? For the answer, I turned to Ann-Louise Hittle, VP Oils Research. What worries you most in the short term? Rising geopolitical tension around Iran. The end of sanctions waivers will reduce exports from around 1.2 million b/d today to 0.7 million b/d this summer. That’s less than a third of what they were selling ...

Read More »

Growing exports add to annual hurricane risks for US energy sector

As the US becomes a larger oil and gas exporter, the annual threat from the Atlantic hurricane season poses greater risks for global flows, on top of the usual risks to electricity demand and domestic fuel supplies. The US exports more than three times as much crude oil and LNG as it did when Hurricane Harvey hit the Houston area in August 2017. The storm did massive damage across the energy and shipping sectors, roiling markets for weeks. “Another Hurricane Harvey-type event would cause big problems for exporters if the ...

Read More »

ESAI Energy: Stumbling into Military Conflict

The Joint Ministerial Monitoring Committee (JMMC) of OPEC met to assess the oil market and the impact of the OPEC+ production restraint. The committee commended the “agile and flexible approach” of the OPEC+ countries, but made no specific recommendations beyond continuing to monitor the oil market until the next meeting in June. That JMMC meeting will take place just before the full Ministerial meeting at which the member states will decide whether to continue the current production restraint. The JMMC communique pointed out “critical uncertainties” such as trade negotiations, monetary ...

Read More »

Asia LNG spot price drops below $5/mmBtu as supply floods market

The Asian spot price for liquefied natural gas (LNG) has dropped to below $5 per million British thermal units (mmBtu) this week as sellers flooded the market with spot cargoes, trade sources said. The price is at its lowest level since the beginning of April. Oil majors Shell and BP each offered a July loading cargo at $4.60-$4.65/mmBtu on Wednesday in Platts market on close (MOC) window, at a price well below the $5.35/mmBtu levels seen last Friday, they added. A large tender by Egypt to sell up to 13 ...

Read More »

Amidst high trade tensions and policy uncertainty, UN cuts economic growth forecast

Against a backdrop of unresolved trade tensions, high international policy uncertainty and softening business confidence, the UN on announced a broad-based slowdown in the global economy and cut its growth predictions. The data comes from the UN Department of Economic and Social Affairs (DESA) in its mid-year World Economic Situation and Prospects (WESP) report, which finds that all major developed economies, and most developing regions, have weakened prospects for growth. At the launch of its main annual report in January, UN economists warned of “risks on the horizon.” Five months ...

Read More »

U.S. business group says retaliation rising in China amid trade war

A top U.S. business lobby in China said on Wednesday that nearly half of its members are seeing non-tariff barrier retaliation in China as a result of the increasingly bitter trade war between Beijing and Washington. The American Chamber of Commerce of China and its sister body in Shanghai, citing a recent survey of members on the impact of tariffs, also said that 40.7% of respondents were considering or had relocated manufacturing facilities outside China. Of the almost 250 respondents to the survey, which was conducted after China and the ...

Read More »

Japan, India And Sri Lanka To Develop Colombo

The governments of Japan, India and Sri Lanka have agreed to jointly develop the Port of Colombo to increase the port’s container volume and enhance marine transportation in and around South Asia. A memorandum of understanding (MOU) is expected to be signed by the three partners by summer and work will begin by next March, reported Nikkei Asian Review. Japan, India and Sri Lanka will develop the East container terminal, located at the south part of the Sri Lankan port, which has been newly expanded. They will deepen it and ...

Read More »

Transit commitment aiming for growth: UTLC ERA shareholders set goal to ship 1 mln containers a year

Alexey Grom, President of the Joint stock company “United Transport and Logistics Company – Eurasian Rail Alliance” (UTLC ERA) has announced plans to increase container transit through Kazakhstan up to 1 million TEU a year in 2020–24. This will be made possible due to the digitalization and optimization of cargo transport on the 1520 mm railway gauge and the increase of freight traffic on China – Europe – China routes within the “One million club” initiative realized together with UTLC ERA shareholders, partners and customers. At the moment the company ...

Read More »

SBITC acquires two new container handlers

Subic Bay International Terminal Corporation (SBITC) has procured two new additional empty handlers from Kalmar, an industry forerunner in terminal automation and energy-efficient container handling, as part of its efforts to boost port operations in 2019. SBITC said that the Kalmar empty container handlers will be used to directly support the latest offering of the terminal — the Empty Container Depot, which is ready to serve the region and the rest of Luzon’s growing need to move empty containers in and out of the country. “Our new containers are part ...

Read More »

Recent Videos

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