Home / Author Archives: HellenicShippingNews (page 2)

Author Archives: HellenicShippingNews

GRAINS-Wheat falls from one-week high as risk-off sentiment prevails

U.S. wheat futures edged lower on Wednesday, retreating from a more than one-week high touched in the previous session, though fears about the condition of the North American crop provided a floor to losses. Corn fell 0.5 percent to extend losses into a second straight session, while soybeans also edged lower. The most active wheat futures were down 0.2 percent at $5.11-1/4 a bushel, having closed up 0.9 percent on Tuesday when prices hit a high of 5.14 a bushel – their highest since Oct 29. Analysts said wheat was ...

Read More »

Oil Rises as OPEC+ Is Said to Discuss Output Cuts for 2019

Oil rose as OPEC and its allies were said to plan discussions about fresh production cuts next year, responding to recent increases in oil inventories amid surging U.S. supply. Futures in New York gained 1 percent. Ministers from the Organization of Petroleum Exporting Countries gathering in Abu Dhabi this weekend will discuss options for 2019 including the scenario of fresh supply cuts, said delegates. That would mark an abrupt end to six months of supply increases, reflecting the prospect that U.S. sanctions on Iran won’t be deep enough to prevent ...

Read More »

U.S. crude output to surpass 12 mln bpd by mid 2019 -EIA

U.S. crude oil production is expected to average 12.06 million barrels per day (bpd) in 2019, passing the 12 million bpd milestone sooner than expected on surging domestic shale output, the U.S. Energy Information Administration said. For 2019, production is expected to rise 1.16 million bpd from the prior year, more than EIA’s previous forecast for a 1.02-million bpd rise. The agency’s monthly report said EIA expects production to surge above 12 million bpd in the second quarter of 2019, sooner than its previous estimate of the fourth quarter. Output ...

Read More »

Africa Enjoys Oil Boom as Drilling Spreads Across Continent

Africa is finally seeing the benefits from the recovery in crude prices as companies ramp up drilling from Algeria to Namibia. The rigs are returning and wildcatters are getting excited again after a years-long hiatus during the oil-price slump. From majors like Total SA to independents like Tullow Oil Plc, companies are snapping up exploration rights and doing deals. “When you go for business development, trying to acquire licenses or make partnerships in West Africa, you can sense the competition,” Gilbert Yevi, senior vice president of exploration and production for ...

Read More »

Iraq Gets Exemption From U.S. Sanctions on Iran’s Energy Exports

Iraq will continue to have access to the energy it needs from Iran to generate and supply electricity, Brian Hook, the special representative for Iran at the U.S. State Department, said Monday on a media conference call. “Iraq has been granted an exemption” to the energy sanctions the U.S. has reimposed on Iran, Hook said, without providing details. Iraq is still importing natural gas and electricity from neighboring Iran and has set up a bank account to process payments in Iraqi dinars, according to two Iraqi government officials, who asked ...

Read More »

Millennials, Oil And Gas And The “Energy Transition”

The labor force of the future in the energy industry – oil and gas in particular – is often a centerpiece of various alarms that currently dominate discussion about the energy landscape in the context of “energy transitions”. There is growing concern that public attitudes toward oil and gas are deteriorating, especially amongst Millennials, and this is contributing to a workforce shortage that will compromise the long run viability of the industry. This discourse often cites an apparent philosophical preference for alternative or renewable energies and technologies, and argues that ...

Read More »

World stocks, Wall Street futures surge after US vote but dollar takes hit

Wall Street was set for a surge on Wednesday and global stocks rose after a U.S. election divided control of Congress, but the outcome, which casts doubt on further tax cuts, hit the dollar and sent Treasury yields lower. The Democrats looked headed for a gain of more than 30 seats in the House of Representatives, well beyond the 23 they needed to claim their first majority in eight years. With President Donald Trump’s Republican party holding onto its Senate majority, the results from Tuesday’s elections were in line with ...

Read More »

What a Brexit Deal Can and Can’t Do for the British Economy

The “deal dividend” promised to Britain by Chancellor of the Exchequer Philip Hammond looks further away than hoped after the U.K. Cabinet failed to make much headway. Hammond said last week that a Brexit agreement would allow him to end austerity. Bank of England Governor Mark Carney said the economy would finally see a way through the fog after more than two years of uncertainty. Time’s running out, but if an accord is eventually reached — and accepted by EU and U.K. lawmakers — here are the areas most likely ...

Read More »

ECB keen to keep investors on side as stimulus reaches final act: sources

European Central Bank policymakers are leaning towards minimal changes to how cash is spent in the final act of their stimulus program as they try to keep edgy bond investors on side, five sources close to the matter said. With fresh purchases in the ECB’s 2.6 trillion euro ($3 trillion) bond-buying scheme due to end in December, policymakers still have to finalize how and where to reinvest the proceeds of bonds that mature from January. The first issue to address is a transition to a new “capital key”, a calculation ...

Read More »

German firms ill-prepared for no-deal Brexit, study shows

Most German firms that export to Britain are poorly prepared for a no-deal Brexit, a survey by the IW economic institute showed on Tuesday, highlighting the risk that a disorderly British exit from the EU could hurt Europe’s largest economy. Britain is due to leave the European Union on March 29, with London and Brussels yet to secure an agreement on the Brexit terms and avoid a disruptive “no deal” scenario. The IW survey of more than 1,100 German firms that export industrial goods and services to Britain showed about ...

Read More »

Trump’s Trade War Is Making Russia and China Comrades Again

Fu Ying recalls vividly how, as a young woman, she’d get woken by sirens in the middle of the night for drills to practice for a Soviet invasion. It was the time of China’s traumatic Cultural Revolution and, although the farm she’d been sent to was more than 200 miles from the border, the threat seemed imminent—strong enough, it turned out, to throw Maoist China into the arms of its capitalist nemesis, the U.S. Today’s world could hardly look more different. The U.S.-China realignment that began with President Richard Nixon’s ...

Read More »

Wilbur ‘Killer’ Ross Isn’t Worried About the Trade Wars

One morning in October, a smiling Wilbur Ross, President Trump’s commerce secretary and most visible trade warrior, enters the lobby of an Embassy Suites hotel in Washington. Clad in a blue suit, white shirt, and red tie, which upon closer inspection turns out to be decorated with tiny beavers, Ross greets members of a national association of business leaders who’ve been enlisted by the department to help promote exports of American goods. They’re eager to have their picture taken with him. Then it’s downstairs to a ballroom, where Ross will ...

Read More »

Baltic Dry Index falls to 1304, down 91 points

Today, Wednesday, November 7 2018, the Baltic Dry Index decreased by 91 points, reaching 1304 points.

Read More »

Chinese iron ore and steelmaking prices November 07 2018

The iron ore futures market went weaker amid narrow fluctuation today.

Read More »

Tanker Market Rates 07/11/2018

Daily rates on main tanker routes as compiled by shipbroker Charles R. Weber.

Read More »

Recent Videos

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