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30-09-2016

Hybrid Power: Norwegian Maritime Authority Approves Corvus and PBES Marine Energy Storage Systems

NMA has approved battery systems of both Corvus (pictured above) and PBES. Th
30-09-2016

UK Shipping Firm Eyes Cost Savings with Scrubber Retrofit

Union's 13,000 DWT chemical tanker Westminster will be fitted with an exhaust gas scrubber.
30-09-2016

3 Mins Daily Market Report

Oil prices dropped on Friday on profit-taking, after rising 7 percent in the past two sessions, amid doubts that OPEC's first planned output cut in eight years would make a substantial dent in the global crude glut. London Brent crude for November delivery, which expires after the settlement later in the day, was down 8 cents at $49.16 a barrel by 0023 GMT. It settled up 55 cents, or 1.1 percent, on Thursday, adding to a 5.9 percent gain in the previous session. NYMEX crude for November de
29-09-2016

3 Mins Daily Market Report

Oil futures extended gains on Thursday after rising nearly 6 percent the day before on a surprise move by OPEC to curb crude output.  The Organization of the Petroleum Exporting Countries agreed to limit its production to a range of 32.5-33.0 million barrels per day (bpd) in talks held on the sidelines of an energy conference in Algeria. But how much each country will produce is to be decided at the next formal OPEC meeting in November, when an invitation to join cuts could also be extende
27-09-2016

3 Mins Daily Market Report

Crude futures slipped in Asian trade on Tuesday as investors took profits after prices climbed more than 3 percent in the previous session. The dollar was also weighing on prices after rising against a basket of currencies, while a Reuters poll showed a build in U.S. crude stockpiles last week. Major oil producers are gathering in Algeria for a three-day meeting that could see moves to cut or freeze oil output in an effort to support oil prices. The Organization of the Petroleum Exporti
26-09-2016

Dubai Mercantile Exchange Lists Two New Fuel Oil Derivatives

DME announced the listing of two new fuel oil contracts. The Dubai Mercantile
26-09-2016

EPA Says Clean Strategies and Tech the Key to Greener Ports

EPA says various strategies and cleaner tech can help to significantly reduce air pollution at U.S. ports.
26-09-2016

3 Mins Daily Market Report

Crude prices rebounded on Monday after Algeria's energy minister said the day before that all options were possible for an oil output cut or freeze at this week's informal meeting of OPEC producers. That came after prices tumbled 4 percent on Friday amid signs Saudi Arabia and Iran were making little progress in achieving preliminary agreement to freeze production. Members of the Organization of the Petroleum Exporting Countries will meet on the sidelines of the International Energy Forum
23-09-2016

3 Mins Daily Market Report

Oil prices rose about 2 percent on Thursday, rallying for a second day after a surprise U.S. crude inventory drop and ahead of talks next week between OPEC and other oil producers on curbing oversupply. Oil got an additional lift from a drop in the dollar to its lowest against the yen in four weeks after the U.S. Federal Reserve kept monetary policy unchanged and signaled rates may rise more slowly than it had previously expected. A weaker dollar makes energy imports cheaper for oil-relian
22-09-2016

3 Mins Daily Market Report

Oil prices extended gains from the previous session in Asian trading on Thursday after a surprise third consecutive weekly U.S. crude inventory draw tightened the market. U.S. West Texas Intermediate (WTI) crude oil futures were trading at $45.59 per barrel at 0045 GMT, up 25 cents from their previous close. The contract had already gained as much as 3 percent the day before. Prices jumped after the U.S. Energy Information Administration (EIA) surprised the market with a 6.2 million barrel
21-09-2016

3 Mins Daily Market Report

Oil prices climbed on Wednesday, supported by a reported draw in U.S. crude inventories and by firm import data from Japan. U.S. West Texas Intermediate (WTI) crude futures were up 1.79 percent, or 79 cents, at $44.84 a barrel at 0027 GMT, buoyed by a contractual rollover into higher-demand November as a front-month. Traders said that the main WTI price driver had been American Petroleum Institute data showing a 7.5-million barrel draw to 507.2 million barrels in U.S. crude inventories, th
20-09-2016

3 Mins Daily Market Report

Oil prices fell on Tuesday after Venezuela said that global crude supplies needed to fall by 10 percent in order to bring production down to consumption levels, confirming analyst views that markets remain heavily oversupplied. Global oil supply of 94 million barrels per day needs to fall by about a tenth if it is to match consumption, Venezuela's Oil Minister Eulogio Del Pino said on Monday. International benchmark Brent crude oil futures were trading at $45.80 per barrel at 0048 GMT, dow
19-09-2016

3 Mins Daily Market Report

Oil prices rose in Asian trade on Monday after Venezuela said that OPEC and non-OPEC countries were close to reaching an output stabilizing deal and as clashes in Libya raised concerns that efforts to restart crude exports could be disrupted. Brent crude futures were trading at $46.39 per barrel at 0046 GMT, up 62 cents, or 1.4 percent, from their last settlement. U.S. West Texas Intermediate futures were up 63 cents, or 1.5 percent, at $43.66 a barrel. Venezuelan President Nicolas Maduro
16-09-2016

3 Mins Daily Market Report

Oil prices rose about 2 percent on Thursday, ending a two-day slide as prices tracked a surge in gasoline futures and higher U.S. equity markets. Prices remained lower for the week so far. Over the previous two sessions, oil fell 6 percent, pressured by data showing large weekly builds in U.S. petroleum products and forecasts by the world's energy watchdog and OPEC that signaled the global crude glut could persist into 2017. Traders and investors bought to cover short positions as gasoline
15-09-2016

Jamaica Prepares for Bigger Vessels, Takes Next Steps Towards Goal of Being the Logistics Hub of the Caribbean

Jan De Nul Group is amoung players involved in expanding the Jamaican port Ja
15-09-2016

3 Mins Daily Market Report

Oil prices rebounded in early Asian trade on Thursday after falling around 3 percent in the previous session, supported by an unexpected fall in U.S. crude inventories. U.S. crude inventories dropped by 559,000 barrels in the week to Sept. 9, defying analysts’ expectations of a crude build of 3.8 million barrels. Brent crude futures were trading at $46.06 per barrel at 0051 GMT, up 21 cents, or 0.5 percent, from the last settlement. U.S. West Texas Intermediate futures were up 12 cents, or
14-09-2016

3 Mins Daily Market Report

Oil prices rebounded in Asian trade on Wednesday after falling by as much as 3 percent in the previous session, as data from an industry group showed a smaller-than-expected build in U.S. crude stocks. The American Petroleum Institute (API) reported a crude build of 1.4 million barrels for the week ended Sept. 9, smaller than the 3.8 million-barrel rise expected by analysts. The U.S. government will issue official inventory data on Wednesday. Brent crude futures were trading at $47.34 per
13-09-2016

70 Tonne Bunker Spill From Tanker Responsible for VTTI Terminal Closure: Reports

Trident Star is said to have spilled about 70 tonnes of fuel at the Malaysian terminal.
13-09-2016

3 Mins Daily Market Report

Oil prices fell in early trade on Tuesday on concerns over increased drilling in the United States and as investors took profits after oil prices rose close to 1 percent in the previous session. Markets will also be keeping a close eye on Chinese activity data due for release later in the day for clues on the demand strength for crude. Brent crude futures were trading at $47.98 per barrel at 0109 GMT, down 34 cents, or 0.7 percent, from their last settlement. U.S. West Texas Intermediate futu
09-09-2016

3 Mins Daily Market Report

Oil prices pulled back on profit-taking on Friday after settling more than 4 percent higher a day earlier after government data confirmed a surprisingly huge drawdown in U.S. crude inventories. London Brent crude for November delivery was down 36 cents at $49.63 a barrel by 0023 GMT. It settled up $2.01, or 4.2 percent, at $49.99 on Thursday after touching a near two-week high of $50.14 earlier. NYMEX crude for October delivery was down 35 cents at $47.27, after settling up $2.12, or 4.7 p
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