Dutch and British wholesale gas prices inched up on Friday morning on forecasts for colder temperatures and less wind from next week. The Dutch January contract TRNLTTFMc1 edged up by 0.30 euro to 40.75 euros per megawatt hour by 0931 GMT, LSEG data showed. The contract briefly hit 37.08 euros/MWh, a two-month low on Tuesday but has since rebounded. The British contract for the weekend TRGBNBPWE rose by 1.50 pence to 97.00 pence per therm. Temperatures in Britain and north-west Europe are forecast to increase tomorrow but then fall again ...

The total number of ships arriving at Qatar Ports increased during October 2023 by 1.3% compared to September 2023 according to Planning and Statistics Authority official data. As for the banking Sector; Total Broad Money Supply (M2) recorded about QR721bn during October 2023, an annual increase of 3.4% compared with October 2022. On the other hand, cash equivalents; including Commercial Bank Deposits, attained for QR979bn during October 2023. The figure has recorded an annual increase of 2.6% compared to October 2022, when deposits recorded approximately QR954bn. Regarding the data of ...

Iraq intends to commission two main berths of Grand Faw Port project in 2025, a port official has said. Port authorities have conducted a “successful” trial anchorage of large vessels in Faw and have visited the UAE, China and other countries to benefit from their experience in port operation and management. “We have completed almost 80 percent of the port infrastructure and the five main berths…we expect to commission the first and the second berths at the end of 2025,” said Farhan Al-Fartoosi, Director of the General Company for Ports ...

The Port of Los Angeles has released an Initial Study/Notice of Preparation (IS/NOP) — the first step in the environmental review process — for the proposed Terminal Island Maritime Support Facility Project. The proposed project, located at 740 Terminal Way, would develop an 80-acre site with a chassis support and container storage facility with related site improvements. The project site is anticipated to be utilized as a full-service chassis depot that would provide storage, maintenance, and repair of chassis and/or empty containers. A term permit would be issued for the ...

The U.S. Department of Energy on Friday said it wants to buy up to 3 million barrels of crude oil for the Strategic Petroleum Reserve (SPR) for delivery in March 2024, as it takes advantage of lower prices to start to replenish the stockpile. The administration of President Joe Biden last year conducted the largest sale to date from the SPR of 180 million barrels to try to limit an oil price rally after Russia’s war on Ukraine began in February 2022. The Energy Department in October said it would ...

In 2022, the International Group (IG) first approved the Secro Customer and User Agreement dated 6th October 2022 (‘the 2022 Customer and User agreement’) and the Secro Standard e-bill of lading. The IG subsequently approved an updated version of the Secro Customer and User Agreement dated 16th March 2023 (‘the March 2023 Customer and User agreement’), as well as use of Secro Customer e-bills of lading in conjunction with the March 2023 Customer and User agreement. The 2022 Customer and User agreement, the Secro Standard e-bill of lading, the March ...

In November 2023, U.S. container import volume decreased from October 2023, with East and Gulf Coast ports experiencing the greatest declines. While the decrease is large, it’s consistent with reductions seen in the last months of prior years. Imports from China also continued to decline, but at a slightly faster pace than the overall numbers. The Panama drought finally appears to be negatively impacting U.S. container import volume at East and Gulf Coast ports, which could worsen with the Panama Canal Authority’s plans to further reduce the number of daily ...

Brazilian crude production has been posting strong performance in recent months as the key Latin American producer is expected to see crude output this year increase

Oil and gas firms Woodside (OTC:) and Santos could overcome any “significant concerns” with a A$80 billion ($52 billion merger) from Australia’s competition regulator by selling off some smaller domestic assets, said a source with knowledge of the deal’s discussions. The source could not be named as the merger talks between Woodside and Santos are confidential. Woodside and Santos declined to comment, with Santos referring to its statement on Thursday, which said it was “assessing a range of alternative structural options”. Woodside and Santos after market hours on Thursday confirmed ...

Asia’s naphtha markets gained about 22% this week due to weakness in crude oil benchmarks, although the upside was limited due to poor demand. The crack rose by about $2 to $86.03 per metric ton over Brent crude on Friday, and the second-half January naphtha price jumped by $7.75 to $653.25 per ton. Traders said the volatility in naphtha cracks was driven by price action in crude oil markets and the demand from petrochemical unit will likely remain subdued this month. In gasoline markets, the crack rose to $9.87 per ...

Asia’s cash premiums for 0.5% very low sulphur fuel oil (VLSFO) and high sulphur fuel oil inched higher on Friday after European inventories declined. The Singapore 0.5% VLSFO premium rose to $8.70 a metric ton, from $8.52 a day earlier. The balance-Dec/Jan timespread for VLSFO widened to $7.50 a ton on Friday, compared with $6.95 a ton a day before. Meanwhile, the high-sulphur fuel oil (HSFO) market also gained ground. The cash premium for 380-cst grade rose to 47 cents a ton and the discount on 180-cst grade narrowed by ...

North America Prompt availability is tight for all grades in Houston. One supplier requires lead times of six days to supply VLSFO and LSMGO in the port. Some suppliers have cautioned about potential bunker delays over the weekend due to fog and reduced visibility. VLSFO and LSMGO availability is normal in Bolivar Roads. One supplier requires lead times of five days to deliver both grades. VLSFO availability is tight for very prompt dates (0-2 days) in the Port of Mobile. Strong wind gusts are forecast to hit the Galveston Offshore ...

Amidst the discussions at COP28 in Dubai, the pressing need to decarbonize the shipping sector takes center stage. In this context, a cross-cutting initiative, the “2030 Shipping Pact for People and Nature (SPPaN)” emerges to address the interconnected challenges of pollution, biodiversity loss, and the climate crisis and the potential co-benefits of shipping decarbonization for people and nature. There has been increasing focus on the need – and opportunities – to decarbonize international shipping. However, a sustainable, resilient maritime industry needs to consider not only how to decarbonise, but also ...

The European Union is poised to give its member states the power to halt gas imports from Russia and Belarus, the Financial Times reported on Friday. Any member state will be able to block companies from Russia and Belarus from obtaining space in their gas pipelines and liquefied natural gas terminals, FT reported citing a draft legal text proposed by Brussels. EU member states could have the authority to “partially or, where justified, completely limit” access to infrastructure to gas operators from Russia and Belarus, in order to protect their ...

Teck and Oldendorff Carriers announce agreement to outfit bulk carrier with Flettner Rotor sails to reduce emissions. Teck Resources Limited (“Teck”) and Oldendorff Carriers GmbH & Co. KG (“Oldendorff”) today announced an agreement to use wind propulsion to further reduce CO2 emissions in Teck’s supply chain. The joint investment will see the vessel Dietrich Oldendorf, which carries shipments of Teck steelmaking coal from the Port of Vancouver, outfitted with a Flettner Rotor system by mid-2024. The Flettner Rotors generate lift from the wind, which is translated into additional thrust, thereby ...