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UK GAS-Price falls on lower demand, traders watch Norway flows

The British wholesale day-ahead gas price fell on Thursday due to warmer weather and lower demand expectations but signs of possible reduced flows from Norway in the future prompted prices further along the curve to rise. * Day-ahead gas fell 0.85 pence to 35.40 pence per therm by 0820 GMT. * The weekend gas price was 1.15 pence higher at 36.25 p/therm. * Within-day gas was yet to trade. * Weather forecasters increased the temperature outlook by 1.5 degrees Celsius for Thursday to 11.7 degrees on average in Britain and ...

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Vitol moves LNG team to London

Energy trading house Vitol is moving its trading team for liquefied natural gas (LNG) to London from Geneva, a Vitol spokewoman said on Thursday. * The LNG team headed by Pablo Galante Escobar is expected to start working in London in April. * The relocation is onging and will be staggered, the spokeswoman said. * The decision was made several months ago, with the space for LNG team allocated in Vitol’s new office in Victoria from early this year. Source: Reuters (Reporting by Julia Payne, Ekaterina Kravtsova; Editing by Mark ...

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Oil prices inch up on signs of tightening global supply

Oil futures edged up on Thursday as a drop in crude exports from OPEC’s de facto leader, Saudi Arabia, and a draw in U.S. drilling rigs and oil inventories supported prices. Brent crude futures settled at $71.97 a barrel, up 35 cents from their last close and near Wednesday’s five-month high of $72.27. Brent saw a weekly gain of 0.6 percent, marking the fourth consecutive weekly rise for the international benchmark. U.S. West Texas Intermediate (WTI) crude futures settled at $64.00 a barrel, up 24.00 cents. U.S. futures gained just ...

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MARKETS SNAPSHOT FOR 18/04/19

NASDAQ-Adv: 1,525 Dec: 1,599 NYSE-Adv: 1,434 Dec: 1,499 (Source: Nasdaq)

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Sterling staggers near $1.30 despite strong UK retail sales

Sterling fell on Thursday as the dollar’s rally gathered momentum, with strong British retail sales data doing little to shake the currency out of a slumber following a six-month extension to Brexit. Wild swings in the pound subsided last week when European Union leaders granted Britain the Brexit delay to Oct. 31. The currency is now at its least volatile in years as investors await a breakthrough in Britain’s EU divorce process. British shoppers ignored worries about an impending Brexit deadline and spent heavily in March, official data showed on ...

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MOL Pledges Support for Mozambique in Wake of Devastating Cyclone

Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Junichiro Ikeda) yesterday announced that MOL will contribute USD 10,000 in cash to aid victims and support reconstruction after the cyclone that devastated parts of the nation in March and has launched charity donations from MOL executives and employees to fund relief efforts. MOL sincerely hopes that everyone who suffered during this disaster will be able to return to normal life as soon as possible. Source: Mitsui O.S.K. Lines, Ltd.

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ISMI Holds Training On Combating Piracy For Seafarers, Boarding Team Leaders

The Interregional Maritime Security Institute (ISMI) has organised a training course for sea authorities to deal with piracy attacks from April 16 to 19, 2019 at Youpogon, Niangon, Cote d’Ivoire. In a statement issued by ISMI, the seminar is aimed at providing boarding team leaders and seafarers authorised to record the offence of piracy and armed robbery at sea with knowledge of the law and criminal procedure so that their interventions can lead to the conviction of the perpetrators. ISMI noted that the seminar will strengthen the capacity of Gulf ...

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Ship suspected of carrying N.K. coal is under probe: lawmaker

A Togo-flagged ship has been under probe in South Korea on suspicion of carrying North Korean coal in a potential violation of U.N. Security Council sanctions, an opposition lawmaker said Thursday. The vessel, believed to have come from Russia’s Nakhodka, entered the South Korean southeastern port of Pohang in February to unload 3,217 tons of North Korean coal and its departure was suspended, according to Rep. Yoo Ki-june of the main opposition Liberty Korea Party (LKP). The DN5505 vessel also unloaded 2,588 tons of coal in South Korea in November, ...

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Turkmenistan ready to cooperate with Korean companies in shipbuilding

Turkmenistan is ready for close cooperation with Korean companies in building ships for use in the Caspian Sea, Trend reports referring to the Turkmen Dovlet Khabarlary state agency. This initiative was announced on Wednesday, April 17, 2019 during negotiations with the President of the Republic of Korea Moon Jae-In, who is on a state visit in the Turkmen capital. The Balkan shipyard in Turkmenbashi city near the Caspian Sea is a basis for development of domestic shipbuilding. Dry cargo ships and oil tankers are repaired at the plant. It is ...

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Russia limits some coal, oil exports to Ukraine

Prime Minister Dmitry Medvedev has signed a decree limiting Russian exports of some coal, crude oil and oil products to Ukraine, he told government officials in televised comments on Thursday. Ukraine is preparing to hold the second round of its presidential election this Sunday and relations with Russia are a key campaign subject. Source: Reuters (Reporting by Andrey Kuzmin; Writing by Tom Balmforth; editing by Maria Kiselyova)

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South Korea completes about 90% of 2019’s total corn imports

Buying consortiums in South Korea have completed importing about 90% of their requirements for 2019 at around 9 million mt, industry sources said late Wednesday. South Korean buying groups are currently looking out for December offers, after procuring cargoes at much lower prices month on month over the last few months. August arrival cargoes were concluded at an average of around $196/mt CFR South Korea, September cargoes averaged $194/mt CFR, and tenders concluded in the past two weeks for November cargoes were awarded at $187-$188/mt CFR. South Korea last year ...

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Egypt buys 385,615 tonnes of local wheat so far this season – state newspaper

Egypt, the world’s largest wheat importer, has bought 365,615 tonnes of wheat from its farmers so far this season, the state-owned Al Akhbar newspaper said. Local procurement started on April 15. Egypt has said it aims to procure 3.6 million tonnes of wheat from local farmers during the season. Source: Reuters (Reporting by Ali Abdelaty; Writing by Maha El Dahan; Editing by Mark Potter)

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Nordic flat product prices pulled in opposite directions in April

Regional mills’ input costs are rising but they are struggling to fill their production capacity. Competitively priced import offers are scarce, while local purchasing activity is, mostly, quite weak. Consequently, the majority of selling values reported are slightly down. The remainder are unchanged, with the expectation of imminent reductions. Demand for hot rolled coil, in Denmark, is subdued. End-users, in Sweden, are reluctant to pay more and distributors attempted to minimise price rises in their quarterly agreements with producers. Sales volumes remain satisfactory, in Norway, but buyers are becoming hesitant. ...

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Australian Aurizon’s Jan-Mar coal railings rise 4% on year despite strikes, derailment

Australian rail operator Aurizon said Wednesday its volumes of coal rose 4% year on year over January-March due to the start of railings from MACH Energy’s Mount Pleasant mine and strong customer demand, offset by disruptions due to industrial action, severe weather and a derailment. Aurizon’s above rail coal volumes totaled 51.7 million mt in the March quarter, up from 49.9 million mt the year before and down 5% from October-December, the company said in a quarterly report. Its operations across New South Wales and southeast Queensland contributed 15.4 million ...

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Australia’s South32 Q3 coking coal production down 37 pct vs Q2, beats estimate

Australian miner South32 Ltd on Thursday reported a 37 percent fall in its third-quarter coking coal production compared to the previous quarter. Production of coking coal or metallurgical coal, a key steel-making ingredient, fell to 990 kilo tonnes during the March quarter from 1.6 million tonnes in the second quarter, but beat a Goldman Sachs estimate of 784 kilo tonnes by a large margin. Source: Reuters (Reporting by Rashmi Ashok and Shreya Mariam Job in Bengaluru Editing by Leslie Adler)

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