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The deputy chairman of the Afghanistan Chamber of Commerce and Industries said India’s first export shipment to Afghanistan has arrived at Iran’s Chabahar Port. “Around 500 tons of rice which were bought from India has arrived in Chabahar this week. Exports have also started through Chabahar,” Khan Jan Alokozay said on Saturday, according to the Times of Central Asia. He added that Kabul was ready to send Afghanistan’s second export shipment to India via Chabahar. The Iranian port of Chabahar provides easy access to the sea to Afghanistan. Chabahar is ...

The world economy is moving from the West to the East. Sri Lanka is at the centre of the Indian Ocean and the location specific advantage could act as a hub in terms of energy, logistics and trade. Being in close proximity to growing markets, such as Bangladesh, Myanmar, India and East Africa, will give a location specific advantage to these emerging markets, Chairman, Laugfs, W.K.H. Wegapitiya said. “The energy is transported via sea and with Hambantota as the base, we decided to invest in the transshipment facility that could ...

On May 6, a cargo ship loaded with 420 tons of yellow sand docked at the Ningbo Bilisheng Logistics Distribution Terminal, marking the official using of the first river freight terminal along the Ningbo section of the Hangzhou-Ningbo Canal. The pier is located in the Gaoqiao Town of Haishu District, adjacent to the Hangzhou-Ningbo Expressway, with four 500-ton berths. According to a related person in charge of the Port and Shipping Administration of Haishu District, as the canal has direct access to Ningbo-Zhoushan Port, this newly opened freight terminal is ...

“Krishnapatnam port is the logical logistics solution for Andhra Pradesh, Telangana and Karnataka cargoes.” India’s outreach to the East and an escalating trade war between China and the United States is helping to turn the Bay of Bengal coastline into a new and attractive growth engine. In the backdrop of Shanghai, Guangzhou and Shenzhen — coastal cities which propelled China’s rise as the workshop-of-the world — India too appears to be stepping up its game of coast based manufacturing, focusing intensely on its eastern shores. “We have traditionally concentrated on ...

The biggest challenge for a new terminal at Georgia’s Port of Poti will be ensuring there are feasible transport routes for delivering goods to key markets including central Asia, a finance expert has said. Although the Port of Poti is the main port for Georgia and offers the quickest route to the Caucasus region and central Asia, PACE Group’s terminal project will need to negotiate cargo through several countries before it reaches its destination country, stated Kenneth Angell, managing director for project finance in SME finance at the US-based Overseas ...

The palm oil imports into the country witnessed negative growth of 10.22 percent during the first three quarters of the current fiscal year against the imports of same period of last year. The palm oil imports into the country during July-March (2018-19) were recorded at $1386.074 million against the imports of $1543.880 million during July-March (2017-18), showing increase of 10.22 percent, according to Pakistan Bureau of Statistics. In terms of quantity, Pakistan imported 2,325,639 metric tons of palm oil during the period under review compared to the imports of 2,117,612 ...

At a moment the Persian Gulf is heating up given the highest tensions and exchange of threats in years between the US and Iran, Tehran is running the high risk gambit of restarting its crude transfers to Syria. A new CNBC report finds, “Tanker-tracking firms believe Iran is once again shipping crude oil to Syria, resuming the illicit trade as tensions with Washington rise and the Islamic Republic faces increasing international isolation.” Specifically a one million barrel delivery was reportedly made through the Syrian port of Baniyas in early May, ...

It took Total’s chief executive and a small group of advisers just days to line up the French energy major’s biggest acquisition in almost two decades when it agreed to buy the African assets of U.S. firm Anadarko. Patrick Pouyanne pounced after Occidental Corp trumped Chevron’s $33 billion bid for Anadarko in April with an offer that includes raising financing by selling some of Anadarko’s operations worth up to $15 billion. Chevron walked away from the race on Thursday. By keeping those in the know to a minimum, the French ...

Occidental Petroleum Corp.’s Vicki Hollub defended her $38 billion pursuit of Anadarko Petroleum Corp. as she and eight other company directors survived a shareholder vote that had turned into a proxy referendum on the deal. Investors won’t get to vote on the Anadarko takeover — a contentious point for some — but they had their say on the company’s board Friday. While all the nominated directors were elected, the margin of the voting, ranging from 70% to 82% approval, was unusually low. Hollub addressed shareholders at their annual meeting in ...

Azerbaijan has submitted the data on the daily oil production in the country for April 2019 to the joint technical commission of the OPEC monitoring committee, Trend reports referring to the country’s Energy Ministry on May 11. According to the ministry, daily oil production reached 683,000 barrels in Azerbaijan in April, of which 605,000 accounted for oil, 78,000 – for condensate. Thus, 390,000 barrels of oil, 75,000 barrels of condensate and 19,000 barrels of oil products were exported daily. The average daily oil production reached 793,000 barrels in January, 806,000 ...

U.S. Secretary of State Mike Pompeo said Saturday the U.S. has put in the work to make sure global oil markets are stable and have enough supply — and he’s “convinced” that will continue. In fact, Pompeo pointed to “simple math” that shows there’s been no disruption to the overall global supply of crude since the U.S. withdrew from the Iran nuclear deal, officially called the Joint Comprehensive Plan of Action — something that some analysts had warned could happen. “About a year ago, President Trump withdrew the JCPOA, you’ll ...

Euronext wheat futures were little changed in thin trading on Friday as traders awaited U.S. government crop forecasts due to be published near the end of the European session. Paris prices were holding near contract lows, reflecting favourable wheat harvest prospects in the northern hemisphere as well as worries over renewed tensions in trade negotiations between Washington and Beijing. Benchmark September milling wheat on Paris-based Euronext was unchanged on the day at 170.50 euros ($191.66) a tonne by 1529 GMT. It was trading close to a life-of-contract low of 169.75 ...

Hedge funds have never been this bearish on soybeans, a move that’s paying off as the market craters. Futures posted their biggest weekly loss in more than eight months as optimism fades over a close-at-hand end to the U.S.-China spat. Trump has raised tariffs on some goods from the Asian country and threatened Beijing with an ultimatum: seal a deal in a month, or face duties on all exports. The hardening stance has traders worried that the 25% retaliatory tariffs American soy is facing aren’t going away anytime soon. Making ...

Chicago Board of Trade (CBOT) crop futures closed sharply lower in the trading week ending on May 10, pressured by bearish market data and prolonged trade tensions between the United States and China. The most active soybean contract for July delivery was down 33 cents, or 3.92 percent, to close at 8.0925 dollars per bushel. July corn was down 19 cents, or 5.12 percent, to settle at 3.5175 dollars per bushel. July wheat was down 13.25 cents, or 3.03 percent weekly, to close at 4.2475 dollars per bushel. CBOT soybean ...

The largest power market impact of stricter coal plant rules in New York state would likely be during winter peak hours, but with less than 1 GW of coal capacity remaining only a small portion of total generation would be affected, an analyst said Friday. New York’s retiring its coal fleet “is largely in line with our expectations, but with roughly 1 GW of coal capacity remaining that ran at a cumulative 8% capacity factor in 2018 it shouldn’t be too impactful on the state’s power markets,” Kieran Kemmerer, power ...