Home / Βunkerportsnews / ΒunkerportsnewsΠρώτηΣελιδα (page 6)

ΒunkerportsnewsΠρώτηΣελιδα

Conflict in Libya since 2011 civil war has resulted in inconsistent crude oil production

Libya’s crude oil production averaged nearly 1.2 million barrels per day (b/d) during 2021. In late December 2021, armed militants shut in an estimated 0.4 million b/d of crude oil production. In April 2022, protesters across the country began to blockade several major ports and oil fields in Libya, causing production to fall to around 0.5 million b/d by July 2022. According to our Libya Country Analysis Brief, Libya’s crude oil production has continually fluctuated because of armed conflict and political instability since Libya’s first civil war, which began in ...

Read More »

Clearance of import shipments at Karachi Port: Computer industry concerned at inordinate delay

According to a communication of Munawwar Iqbal, chairman IT Committee ICCI and representative of the Pakistan Computers Association to Finance Minister Miftah Ismail Thursday, there are some serious issues confronting the business community due to the delay in shipment clearance of various goods belonging to the essential item category at the Karachi port for the last two months causing extensive demurrage and costs unbearable to the traders of the country. At a time when the dollar is experiencing fluctuations day by day, this situation is of serious concern for trade ...

Read More »

Iranian tanker reloading oil in Greece that was confiscated by U.S. – sources

An Iranian-flagged tanker is reloading oil that was confiscated by the United States earlier this year after Greek authorities approved the release of the cargo, sources familiar with the matter said on Friday. The case has strained relations between Athens and Tehran amid growing tensions between Iran and the United States after Washington hired a tanker in April to impound the oil onboard the Lana tanker, which had been anchored off Greece. The removal of oil from the Lana, formerly the Pegas, prompted Iranian forces in May to seize two ...

Read More »

Russian oil tanker bound for fire-ravaged Cuban terminal diverts to smaller port

A cargo of Russian oil bound for Cuba’s Matanzas terminal has been diverted to a smaller port, following a spectacular fire that destroyed a large portion of the island’s main oil terminal, vessel monitoring data showed on Thursday. Lengthy power blackouts have followed the fatal blaze, which killed one firefighter and left 14 others missing. The outages are a sign of how the accident is aggravating a long-standing energy crisis due to an obsolete power grid and lack of fuel. The Liberia-flagged tanker NS Laguna carrying 700,000 barrels of oil ...

Read More »

Iran: Over 55m tons of goods loaded, unloaded in ports in 5.5 months

The mentioned amount of goods, which were loaded and unloaded in 22 ports, comprised 850,000 twenty-foot equivalent units (TEUs) weighing 9.54 million tons, 16.31 million tons of dry bulk, 1.12 million tons of liquid bulk, 8.11 million tons of general cargo (general and miscellaneous goods) and 20.36 million tons of oil products. It should be noted that, compared to the same period last year, the amount of unloading and loading operations increased by 4.6 percent in the container sector, 1.1 percent in the dry bulk sector, and 2.6 percent in ...

Read More »

Charts suggest oil could bounce temporarily then head lower, Jim Cramer says

CNBC’s Jim Cramer on Wednesday said that oil could rally in the short term, but it’s unlikely to last. “The charts, as interpreted by Carley Garner, suggest that oil could be due for a short-term bounce, but over the next few months she ultimately sees it headed lower — possibly much lower. That’s exactly what the [Federal Reserve] needs to see [to tamp down inflation],” the “Mad Money” host said. OPEC+, a group made up of OPEC and non-OPEC partners, said last week that it is sticking with its planned ...

Read More »

Bank agrees to process Russian oil transit payment to central Europe -sources

A European bank has agreed to process a payment for the transit of Russian oil through Ukraine, Slovak refiner Slovnaft and another source familiar with the matter said, removing the cause of a stoppage of oil supplies to central Europe last week. The payment, if confirmed by all parties, would be a step toward restoring oil flows to the Czech Republic after a week-long outage and also create conditions for future payments for transit to the region. On Tuesday, Russian pipeline monopoly Transneft said supplies via the Druzhba pipeline had ...

Read More »

HOT PORT NEWS from GAC

Weather warning 12 Aug 2022, Bangladesh The Maritime Ports of Chattogram, Cox’s Bazar, Mongla and Payra have been advised to hoist Local Cautionary Signal No. Three (3). Read more » Source: GAC

Read More »

NE China ports handle over 3,100 China-Europe freight train trips

Northeast China’s ports of Manzhouli and Suifenhe on the China-Russia border have seen over 3,100 China-Europe freight train trips in the first seven months of this year, according to the China Railway Harbin Group Co Ltd. During the period, the two ports handled 3,132 China-Europe freight train trips with 299,808 TEUs of goods, up 16.4 percent and 16.2 percent year-on-year, respectively. At present, 22 China-Europe freight train routes pass through the two ports. Source: Xinhua

Read More »

Cosmo sees oil prices under pressure if global economy slides into recession

Japanese oil refiner Cosmo Energy Holdings sees that oil prices could come under pressure if a global recession emerges, though the market is expected to remain tight amid the prolonged Russia-Ukraine conflict, its executive said. “It is difficult to predict oil prices …but my gut feeling is that oil prices will come under stress if an unexpected global recession emerges, at which point the yen will likely move higher (against the U.S. dollar),” Senior Managing Executive Officer Takayuki Uematsu told a news conference. Advertisement Source: Reuters

Read More »

Inflation Reduction Act Advances Stalled Offshore Oil and Gas Lease Sales

The Inflation Reduction Act (the Act), which passed the U.S. Senate on Aug. 7, 2022, requires that previously announced offshore lease sales in the Gulf of Mexico and Alaska be held during the next two years. The Act requires the U.S. Department of the Interior (Interior) to award leases to the highest bidders in Lease Sale 257, which was held in November 2021. In January 2022, the U.S. District Court for the District of Colombia vacated Lease Sale 257 after finding that Interior’s environmental review failed to adequately consider certain ...

Read More »

Switch from gas boosts oil demand, but economic headwinds loom — IEA

Sweltering summer temperatures and soaring gas prices have boosted the use of oil in power generation, the International Energy Agency (IEA) said on Thursday, increasing demand but masking weakness in economies beset by recession fears. “Natural gas and electricity prices have soared to new records, incentivising gas-to-oil switching in some countries,” the Paris-based agency said in its monthly oil report in which it raised its outlook for 2022 demand by 380,000 barrels per day (bpd). “These extraordinary gains, overwhelmingly concentrated in the Middle East and Europe, mask relative weakness in ...

Read More »

U.S. oil refiners, pipeline companies expect strong demand for rest of 2022

U.S. oil refiners and pipeline operators expect energy consumption to be strong for the second half of 2022, even though analysts and industry watchers have worried that demand could falter if the global economy enters a recession or high fuel prices deter travelers. The company outlooks suggest a stronger view than recent data showing weakness in U.S. fuel demand, particularly in gasoline, where consumption recently hit its lowest level since February even though this is the middle of the peak summer driving season. U.S. gasoline product supplied over the past ...

Read More »

Marketing Losses Pressure Near-Term Profitability at Indian Downstream Firms

Marketing losses on account of price-freezes for gasoline, gasoil and liquified petroleum gas (LPG) during recent periods of elevated crude-oil prices may pressure the profitability and, consequently, the credit metrics of Indian oil marketing companies (OMCs), says Fitch Ratings. We expect OMCs’ credit metrics to weaken beyond the negative triggers of their Standalone Credit Profiles (SCP) in the financial year ending March 2023 (FY23) as retail losses outweigh strong gross refining margins (GRMs). However, metrics should improve to levels adequate for the SCPs from FY24, based on our lower crude ...

Read More »

MABUX: Global bunker indices to keep rising on August 12

MABUX World Bunker Index (as index calculated on current prices for 380 HSFO, VLSFO and MGO in the main world hubs) continued upward evolution on Aug. 11: 380 HSFO – USD/MT – 623.76 (+23.91) VLSFO – USD/MT – 858.37 (+21.23) MGO – USD/MT – 1 148.13 (+20.11) As of August 11, the MABUX MBP/DBP Index (MDI) (comparison of market bunker prices vs. MABUX digital bunker price benchmark) showed a decrease of underpricing ratio in the HSFO segment, continued growth of overcharge margins in the VLSFO segment and no firm trend ...

Read More »

Recent Videos

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