China will extend a resource tax concession for shale gas development to end-2027 to help boost domestic natural gas supplies, according to a joint statement from the Ministry of Finance and the State Administration of Taxation on Wednesday. The government will continue a 30% concession to the 6% resource tax for developing shale gas, the ministries said, extending a policy that began in 2018. China, the world’s top energy consumer and the largest greenhouse gases emitter, is looking to boost the use of natural gas as a key bridge fuel ...

Protecting the ocean’s biodiversity and reducing the threat of invasive aquatic species was at the core of discussions during the 3rd Regional Task Force meeting on BioFouling Management held Surabaya, Indonesia (20-23 September). Over 40% of international trade passes through Southeast Asia. This exposes the region’s marine ecosystems to invasive species attached to shipping hulls and other equipment. The taskforce adopted the regional strategy on biofouling management which sets out a clear action plan which includes promoting research and development and technology exchange in the region, the establishment of national ...

SAFEEN Group, part of AD Ports Group, the leading facilitator of global trade, logistics and industry, has celebrated the arrival of the SSF Ania vessel at Shuwaikh Port – Kuwait following the launch of a new Ro-Ro service aimed at improving connectivity and facilitating trade with Kuwait. The new service offering is designed to eliminate the need for long-haul road journeys, reducing risks associated with road travel, and cutting down on carbon emissions. Truck drivers will receive accommodation on board, allowing them to focus solely on the first and last ...

During its 16th year of operation, Contecon Guayaquil S.A. (CGSA), International Container Terminal Services, Inc.’s (ICTSI) Ecuadorian business unit operating the Libertador Simon Bolivar Container and Multipurpose Terminal, celebrates an achievement of handling 135 million tons of cargo handled since starting operations at the Port of Guayaquil. The achievement is a testament not only to the Port of Guayaquil’s position as Ecuador’s main seaport, but also to CGSA’s commitment to operational efficiency, innovation, safety and sustainability – values that serve as the foundation of CGSA’s identity and role as a ...

Adani Ports and Special Economic Zone APSE.NS will buy back as much as $195 million of its 2024 bond, the billionaire Gautam Adani-led company said in an exchange filing on Wednesday. Adani Ports had started a buyback program of some debt securities in April to prepay part of its near-term loans due next year. Earlier this year, the ports and logistics company had floated a tender of up to $130 million as it tried to boost investor confidence after the group’s shares were hit by a U.S. short-seller’s report in ...

Middle East crude benchmark Dubai edged sharply higher on Wednesday despite thin trade, led by volatile price movements in the Brent-Dubai EFS spread. Cash Dubai’s premium to swaps rose to $3.38 a barrel, hitting an eight-month high. November was pegged at a premium of $2.70 a barrel at the Asia close (0830 GMT) on Wednesday, compared with $2.20 a barrel on Tuesday, based on LSEG data. The spread has remained volatile in the last five trading sessions, ranging between a premium of $1.85 and $2.70. INVENTORIES U.S. crude stockpiles at ...

Greece and Saudi Arabia agreed on Wednesday to set up a jointly-owned company that will look at linking their power grids, taking the first step in their planto supply Europe with cheaper green energy, the Greek energy ministry said. Greece’s IPTO and Saudi Arabia’s National Grid will set up a company, Saudi Greek Interconnection, tasked with examining the commercial viability of the power interconnection, the ministry said in a statement. IPTO and National Grid will each hold a 50% stake, it added. The deal comes after Greece and Saudi Arabia ...

U.S. natural gas futures rose about 2% to a one-week high on Wednesday on forecasts for more demand over the next two weeks than previously expected and a drop in daily output. On its last day as the front-month, gas futures NGc1 for October delivery on the New York Mercantile Exchange rose 4 cents, or 1.5%, to $2.696 per million British thermal units (mmBtu) by 8:50 a.m. EDT (1250 GMT). That puts the contract on track to rise for a fourth day in a row for the first time since ...

Terminal working hours during Prophet Muhammad’s Birthday 2023 27 Sep 2023, Abu Dhabi, United Arab Emirates Friday, 29 September will be a public holiday at the CSP Abu Dhabi Terminal and normal working hours will resume on Monday, 2 October. Read More » Amended mooring and sustainability charges 27 Sep 2023, Dighi, India To contribute to a greener future and support sustainable initiatives, Dighi Port is introducing Sustainability charges applicable from 1 October. Read More » Update on new positioning system requirement 27 Sep 2023, Panama Canal, Panama If requirements ...

Prostar Capital announced the successful sale of its bulk liquid storage terminal facility, GTI Fujairah (GTIF) to Mercantile & Maritime Group (M&M). GTIF is located in the Port of Fujairah, UAE, a major strategic energy trading port and one of the largest bunkering hubs in the world. GTIF is a modern and highly flexible bulk liquid storage terminal, with a total capacity of 350,000m3. For the last six years of Prostar’s ownership, GTIF has been consistently ranked as one of the leading operators in the Port. “Prostar is proud that ...

Port of Newcastle has launched its first regular container service from its newly expanded Multipurpose Terminal, providing consumer goods, industrial, and agribusiness customers throughout the Hunter, North West and Liverpool Plains with a cost-effective and efficient option for importing and exporting product. The service, delivered by Neptune Pacific Direct Lines (NPDL), will see the Port become a regular call for container vessels, with import and export opportunities between Australia, New Zealand and the Pacific Islands. Port of Newcastle Executive Manager Business Development, Matthew Swan said the service formally kicked-off with ...

The Hambantota International Port Group (HIPG) has benchmarked a 500,000 ton volume in their bunkering business during the first eight months of 2023. The throughput which is five times in volume compared to 2022, is attributed to the port’s strategic partnership with Sinopec Fuel Oil Lanka Limited (SFOL), for the supply and trade of marine bunker fuel. Through the offer of marine bunker fuel at competitive pricing to local bunker suppliers, HIP has facilitated the supply of over 80% of the marine bunker market in Sri Lanka this year. HIP’s ...

Svitzer, a leading global towage provider and part of A.P. Moller – Maersk, has announced the continued expansion of its fleet in Brazil, as part of the ongoing growth of its operations in the country. Svitzer Monte KT is the fourth tug to join the fleet in the country since April and demonstrates Svitzer’s commitment to strategically strengthening its presence across Brazil’s coast to deliver sustainable marine services. Svitzer Monte KT is sister to three tugs already delivered to Svitzer in 2023, which have been deployed across the ports of ...

One year on from explosions that damaged the Nord Stream gas pipelines under the Baltic sea between Russia and Germany, the question of who was behind them is unresolved. On Sept. 26, 2022, Swedish seismologists registered several blasts, some 17 hours apart off the Danish island of Bornholm that ruptured three out of four lines of the Nord Stream system, sending plumes of methane into atmosphere. Russia’s Gazprom (MCX:GAZP) said about 800 million cubic metres of gas, equivalent to about three months of Danish gas supplies, had escaped. It took ...

The maritime sector accounts for about 2.8% of all global greenhouse gases (GHG) emissions. Clean ammonia can be used as an emission-free fuel for shipping, enabling us to reach the global emission goals. “We are grateful for the grants Enova has awarded the projects we are developing together with our partners. These grants contribute to Yara’s ability to execute the projects, taking us one significant step closer to an emission-free maritime sector. The projects represent the whole value chain, from the engine- and ship technology to the fuelling of these ...