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02-06-2016

Hyundai Merchant Marine Comes One Step Closer to Stabilizing Its Business and Financial Status

Bondholders have agreed to swap more than half the company's debt with HMM stocks.
02-06-2016

3 Mins Daily Market Report

Oil prices closed off their session lows on Wednesday after OPEC sources said the group was likely to consider a new output ceiling at its forthcoming meeting, although many in the market still appeared skeptical about such a deal. Brent crude futures were down 11 cents at $49.79 per barrel, after striking an intraday low at $48.65. U.S. crude futures settled 0.18 percent lower, or 9 cents, at $49.01 a barrel, after plumbing to $47.75 earlier. Reuters cited four OPEC sources as saying the 
01-06-2016

3 Mins Daily Market Report

U.S. oil closed lower on Tuesday, after UAE Oil Minister Suhail bin Mohammed al-Mazroui said he was happy with the oil market, noting that prices had been correcting higher. U.S. West Texas Intermediate (WTI) settled 0.47 percent lower, or 23 cents, at $49.10 a barrel. WTI hit a 7-month high of $50.21 on Thursday and notched a more than 7 percent gain for May. Brent crude oil futures were down 9 cents at $49.67. Brent hit a November peak of $50.51 on Thursday and posted a more than 3 percent
31-05-2016

3 Mins Daily Market Report

Oil prices inched up toward $50 a barrel on Monday, although uncertainty ahead of an OPEC producer-group meeting later in the week was expected to cap gains. Brent crude futures settled up 44 cents at $49.76 a barrel, reversing losses from earlier in the day. There was no settlement in U.S. West Texas Intermediate, or WTI, crude futures because of the U.S. Memorial Day holiday, but WTI was up 27 cents at $49.60. The Organization of the Petroleum Exporting Countries (OPEC) meets in Vienna o
30-05-2016

3 Mins Daily Market Report

Oil prices dipped for a second day in a row on Friday as some investors took profit on a surge to seven-month highs while others worried about higher production with the market hovering near $50 a barrel. Brent fell 22 cents to $49.37 a barrel, retreating further from the previous session's $50.51 peak, its highest since early November. U.S. crude settled down 0.3 percent, or 15 cents, at $49.33 a barrel, and last dropped 6 cents to $49.42 a barrel after touching $50.21 on Thursday, its highe
27-05-2016

"The Freeze Is Finished" says OPEC Delegate as Iran Closes in On Pre-Sanction Output

Some analysts says the best outcome of the Vienna meeting will be no outcome at all.
27-05-2016

Deal to Bring LNG-Powered Cold Ironing Barge to Rotterdam "Well Underway"

Discussions for an LNG barge at the Port of Rotterdam are said to be "well under way."
27-05-2016

3 Mins Daily Market Report

Oil prices tested the $50-per-barrel mark on Thursday as production outages brought a faster-than-expected recovery to an oversupplied market.  Global benchmark Brent was down 35 cents at $49.40, having earlier risen as high as $50.51 in intraday trading. U.S. crude futures settled down 0.16 percent, or 8 cents, at $49.48 a barrel, and were last down 22 cents at $49.34 a barrel, after rising to $50.21, the highest since mid-October.  The daily settle came as presumptive Republican presiden
25-05-2016

3 Mins Daily Market Report

U.S. oil rose on Tuesday as investors anticipated a weekly drawdown in U.S. crude inventories that they hoped would boost prices. Brent futures were up 29 cents to $48.64 a barrel. U.S. crude futures settled 54 cents higher, at $48.62 a barrel, posting their best settle of 2016 and its highest closing price since October. Commercial crude stocks in the United States likely fell by around 2.5 million barrels to 538.8 million in the week ended May 20. The American Petroleum Institute (API
24-05-2016

Scandlines' Latest Hybrid Ferry Enters Service

Scandlines' new hybrid propulsion ferry, M/V Berlin, Monday set sail on its maiden voyage between Gedser and Rostock at 6 a.m. local time.
24-05-2016

Call For Change After Authorities Fail to Recover Cost of Bunker Spill

Local authorities were reported to have been short NZ$90,000 on clean up costs for the 2015 Tauranga Harbour bunker spill.
24-05-2016

3 Mins Daily Market Report

Oil prices slid on Monday as Iran vowed to ramp up output, though crude futures pared losses on data showing a stockpile drawdown at a major U.S. delivery hub.  Brent dropped 34 cents to $48.38 a barrel, after ending the previous session 9 cents down. U.S crude settled 33 cents lower, or 0.7 percent, at $48.08 a barrel, having settled down 41 cents the day before.  Oil fell as much as $1 a barrel or more in early trade, the day after the Mehr news reported that Iran's Deputy Oil Minister R
23-05-2016

Iran Oil Exports Expected to Climb Nearly 60 Percent as Analysts Say the Sanctions May Have Made The Country Stronger

Oil exports from Iran are expected to climb nearly 60 percent in May from a year ago.
23-05-2016

3 Mins Daily Market Report

Oil prices were steady to softer on Friday as a stronger dollar spurred investors to cash in on a second week of gains, with the focus remaining on the rebalancing of the market as the global glut faced unplanned supply outages. Global benchmark Brent crude prices traded 11 cents lower at $48.70 a barrel, off a six-month high of $49.85 reached two days ago. U.S. West Texas Intermediate crude futures settled at $47.75 a barrel, down 41 cents, also falling from a seven-month high of $48.09. Tha
20-05-2016

Workshop on IMO Energy Efficiency Measures Held in Malaysia

The three-day MARPOL Annex VI and Technology Transfer workshop, took place in Johor, Malaysia from May 16 to 18.
20-05-2016

3 Mins Daily Market Report

Brent's front-month contract for July was down 8 cents at $48.85 a barrel. It had fallen as much as $1.55, or more than 3 percent, during the session low to $47.38. U.S crude June contract, which expired as front-month at Thursday's settlement, settled at $48.16, down 3 cents, or 0.1 percent. It had fallen to $46.73 earlier.  Last month, deliveries of petroleum rose by 3.6 percent from a year ago to 19.7 million barrels per day, marking the highest April deliveries in eight years, the America
19-05-2016

Worsening Canadian Wildfire Causes More Shutdowns and Price Hike

The Alberta wildfire is reported to have grown to 355,000 hectares in size Ca
19-05-2016

Think Tank Raises Concerns Over Proposed LNG Bunkering Facility

Tarika Powell and Eric de Place, writing for the Sightline Institute, question the safety around PSE's proposed Tacoma LNG project, largely intended to supply LNG bunkering operations.
19-05-2016

3 Mins Daily Market Report

U.S. oil erased gains Wednesday as the dollar jumped following the release of Federal Reserve meeting minutes that showed policymakers could raise interest rates in June. A stronger greenback makes dollar-denominated commodities more expensive to holders of other currencies. U.S. West Texas Intermediate crude futures settled 12 cents lower, at $48.19 a barrel. The session high was $48.95, its highest since mid-October. International Brent crude was down 46 cents at $48.80 a barrel. It reached
18-05-2016

3 Mins Daily Market Report

U.S. crude prices hit seven-month highs on Tuesday on expectations of lower U.S. stockpiles and after wildfires threatened anew Canadian oil supplies, but pared some gains due to the potential for higher Libyan output. U.S crude posted its best settlement since October, closing at $48.31 a barrel, up 59 cents, or 1.2 percent, after hitting a seven-month high at $48.42. Brent's front-month rose 36 cents, or 0.7 percent, at $49.33, off the six-month high of $49.58.  U.S. crude inventories li
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