Oil prices will creep up from current levels as major producer group OPEC+ maintains restrictions on supplies, but economic headwinds will keep them below $90 a barrel this year, a Reuters poll showed on Wednesday. A survey of 43 economists and analysts forecast Brent crude LCOc1 would average $84.73 a barrel in 2023, down from the $87.1 consensus in April and current levels of around $73. Most analysts expect oil to trade around the $80-level per barrel this year, with data and analytics firm Kpler noting that “macroeconomic concerns are ...

In 2022, annual natural gas consumption in China declined by 1%, or 0.4 billion cubic feet per day (Bcf/d), from 2021, according to data from S&P Global Commodity Insights—the first decline in annual consumption since 1990, according to our International Energy Statistics. Slower economic growth, mainly resulting from widespread lockdowns associated with China’s zero-COVID policies, prompted the drop in natural gas consumption. Government policies also reprioritized energy supply security, including growth in coal production, over emissions targets. China’s natural gas consumption more than tripled from 10.4 Bcf/d in 2010 to ...

ABS Wavesight™, the ABS-affiliated maritime software as a service (SaaS) company, and Ascenz Marorka, a globally trusted provider of end-to-end maritime digital solutions and part of the GTT Group, today announced they will work together to support maritime digitalization efforts within the Saudi Arabian oil, gas and offshore sectors. The collaboration will combine ABS Wavesight’s Nautical Systems™ with Ascenz Marorka’s Smart Electronic Fuel Monitoring System (EFMS) to help businesses in these sectors gain comprehensive insight into every aspect of their operations. “At ABS Wavesight, we are firm believers that the ...

Brazil’s Petrobras may look abroad for future growth, two sources with knowledge of the state-run firm’s plans told Reuters, after environmental regulators dashed its hopes of exploring near the Amazon River where it had aimed to make its first major domestic oil discovery in over a decade. Petroleo Brasileiro as the company is formally known, has spent years reducing its international footprint to focus on deepwater assets in Brazil’s vaunted pre-salt areas, so its impulse to explore foreign opportunities is an about-face. President Luiz Inacio Lula da Silva, during his ...

In Q2 2023, Belgian logistics and transportation company Zuidnatie NV ordered their first Generation 6 Konecranes Gottwald Mobile Harbor Crane for operations in Antwerp, as they continue to build more capacity while lowering emissions and improving energy efficiency. With delivery in Q3, the crane will be assembled on site for commissioning and handover in Q4 2023. As their business grows and the market demands more eco-efficiency throughout the supply chain, Zuidnatie ordered a Generation 6 Konecranes Gottwald Mobile Harbor Crane as an easily adaptable, high-performance hybrid solution at Antwerp, one ...

The Oxford Bunker Course is a world-renowned, intensive residential training course designed for newcomers to the marine fuels business and for those who want to refresh their knowledge about this global – and rapidly evolving – industry. The next course will be run on 25-29 September and the programme, led by course director Nigel Draffin, includes high-quality lectures on the technical, operational, commercial, financial, legal and environmental aspects of bunkering. The learning experience includes case studies, discussion groups and practical demonstrations. A full and exciting social programme makes this training ...

Nikkiso Clean Energy and Industrial Gases (Nikkiso CEIG) is the latest company to join SEA-LNG – the coalition established to demonstrate the commercial and environmental benefits of LNG and the pathway it provides for maritime decarbonisation. Nikkiso supplies equipment, technologies, and engineering services to support the safe operation of LNG as a marine fuel. SEA-LNG membership will open up networking and collaboration opportunities for Nikkiso to support its work on cryogenic pumps and process systems, as well as broader cryogenic services. The group also works on heat exchanger systems and ...

The ANE service offers a direct connection between Australia’s southeastern coast and New Zealand, providing coverage up to Bell Bay in Tasmania. Catering to the speed-to-market requirement between key ports on the Eastbound and Westbound Trans-Tasman lanes, the service has this port rotation: Melbourne – Bell Bay – Sydney – Auckland – Melbourne. COSCO operates the ANE service together with OOCL. “VICT looks forward to the opportunities that come with being part of such an important route, as well as a stronger partnership with COSCO Shipping Line and OOCL,” says ...

OPEC has not invited Reuters or Bloomberg news agencies to report on ministerial meetings in Vienna this weekend to discuss future oil policy, according to reporters, Bloomberg and an OPEC source on Wednesday. Ministers from the Organization of the Petroleum Exporting Countries and its allies, a group known as OPEC+ that includes top producers Saudi Arabia and Russia, are scheduled to gather on Saturday and Sunday for a regular biannual meeting. The group pumps more than 40% of the world’s oil supply. The Reuters text journalists that cover meetings and ...

Revised pilotage charges 01 Jun 2023, Port Dickson, Malaysia From 1 June, the following pilotage charges shall apply to all tanker vessels calling at Hengyuan Refining Company Berhad jetty at Port Dickson. Read More » In-principle agreement reached for new National Towage EA 01 Jun 2023, Australia Svitzer has reached an in-principle agreement with the three maritime unions for a proposed, new National Towage Enterprise Agreement which it is now preparing on. Read More » Establishment of restricted area and sea parade 01 Jun 2023, Hong Kong A restricted area ...

In the third week of May 2023, a delegation led by the Japanese Shipowners Association (JSA) visited Bangladesh, the world’s largest destination for ship recycling. The delegation included officers from JSA, Japan’s Ministry of Land, Infrastructure, Transport and Tourism (MLIT), and ClassNK. Representatives from leading Japanese shipowners, including K Line, MOL, NYK Lines, and NS United, were also part of the delegation. This marked JSA’s third visit to Bangladesh, but the agenda was different this time. Following a high-level summit attended by the heads of both nations in Tokyo at ...

Over 90% of the world’s trade is carried by sea, making maritime transport essential to the global economy. The International Maritime Organization has set ambitious targets for the maritime sector to reduce its emissions to combat climate change. From May 2023 onwards, two tankers transporting Neste’s renewable diesel from Finland to Sweden will be fueled with lower-emission marine fuel, namely Neste Marine™ 0.1 Co-processed. “We are committed to working with our suppliers and partners to reduce emissions across our entire value chain. Powering two tankers transporting our renewable diesel with ...

HAV Group ASA has agreed to become industrialization partner for Pherousa Green Technologies AS (Pherousa), which is developing an ammonia cracker capable of converting ammonia to fuel cell quality hydrogen. The decision to join as Pherousa’s industrialization partner, follows today’s announcement from shipowner Pherousa Green Shipping AS who is in the design stage of placing an order for up to six highly modern green-profiled Ultramax dry bulk carriers for use in deep-sea shipping. The initial ship design is based on an existing Deltamarin Ultramax model, adapted for the Pherousa Green ...

AD Ports Group (ADX: ADPORTS), the leading facilitator of global trade, logistics and industry, announced that its flagship deep-water port, Khalifa Port, has been ranked as the 3rd most efficient container port globally, in the recently published Container Port Performance Index (CPPI) developed by the World Bank and S&P Global Market Intelligence. The 2022 ranking as the 3rd most efficient container port in the world is a result of the continued investment in the port’s infrastructure and focused efforts on enhancing operational efficiency, which continues to be a commercial differentiator, ...

By the end of 2023, the first transports will take place over the Container Exchange Route on Maasvlakte. Peter van Buijtenen, Regional Director of Customs for the port of Rotterdam, is looking forward to it. “Not only is it a major step forward in the fight against drug trafficking and subversion, it also saves us and the companies a lot of work.” The Container Exchange Route (CER) has quite a long history, but this year the 17-kilometre stretch will finally be put into operation. The road network connects a large ...