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Month High

Merger Talks In Singapore

Shares of Keppel Hitachi Zosen Ltd. and Keppel FELS Energy & Infrastructure Ltd. surged on market talk the two units of the Singapore conglomerate Keppel Corp. would be merged. Ship repair specialist Keppel Hitachi jumped as much as 47 percent to an eight-month high of S$0.575 before moving back to S$0.51, up 12 cents, in moderate trade of 3.7 million shares. KepFELS, which also has a marine business, rose eight cents to S$0.935 after surging as much as 17 percent earlier to S$1.00 -- a level not seen since the middle of March. Volume was high with more than 10 million shares traded. "The rumours are not new. It seems that day traders were riding the wave," said a senior trader at a local brokerage. A Keppel official said she was "not aware of any corporate development". Shares of Keppel-related companies, including the parent, have risen recently on talk of an impending restructuring within the conglomerate. - (Reuters)


SS&Y Capesize Indices Both Rise

Shipbrokers Simpson, Spence and Young's Pacific Capesize Index rose 76 points in the week ending Monday to 5,060. "The index rose back above the psychological 5,000 barrier despite a relatively quiet week," SS&Y said. "Japanese steel production was down on last month's highs but still remains a force to be reckoned with and South Africa is drawing tonnage away from the Pacific, giving further cause for optimism amongst owners


Oil falls below $110 as Ukraine worries ease

Putin orders troops in military exercise back to base. U.S., EU warn Russia could face sanctions over Crimea; U.S. crude inventory likely rose 1 mln bbls last week. Oil fell more than $1 on Tuesday to below $110 a barrel after President Vladimir Putin recalled troops to base from military exercises in western Russia near its borders with Ukraine. April Brent crude was down $1.47 at $109.73 a barrel by 0900 GMT. It closed the previous session at its highest since Dec. 27.


China Stops Issuing Import Permits for US Distillers Grains

China has stopped issuing permits for imports of distillers dried grains (DDGs) from top exporter the United States on concerns they might contain an unapproved genetically-modified organism (GMO), traders said, sending U.S. prices tumbling. Quarantine authorities have also asked buyers to re-export earlier shipments that contained MIR 162, a GMO strain developed by Syngenta AG that has not been approved for import by China's agriculture ministry.


Brent Climbs Toward $115 on Iraq Crisis

Brent crude climbed to a nine-month high near $115 a barrel on Friday, as supply disruption fears took centre stage after the United States threatened military action in Iraq against Sunni Islamist militants who are pushing on towards Baghdad. The jihadists extended their lightning advance to towns only about an hour's drive from Baghdad while trucks carrying Shi'ite volunteers in uniform rumbled towards the front lines to defend the city, stoking concerns of prolonged unrest and bloodbath


Brent Crude Hits 16-month Low Under US$99

HFO: File image

Brent crude dropped to a 16-month low under $99 per barrel on Wednesday, stretching its losses into a fifth session amid continued worries about rising supplies and weak global demand. While a larger-than-expected fall in weekly U.S. crude stocks kept a floor under oil prices, gains were curbed by a firmer U.S. dollar that makes commodities priced in the greenback more expensive for holders of other currencies. The dollar index stood near a 14-month high, with some investors betting the U


Transocean Awarded Contracts

Transocean Inc announced that Statoil on behalf of a consortium consisting of Statoil, Eni, Norsk Hydro and Shell has awarded multi-year contracts valued at an estimated $700 million in revenues for the company's High-Specification semisubmersible rigs Transocean Arctic and Polar Pioneer. The Transocean Arctic has been awarded an estimated 50-month contract for drilling, completion and intervention work on the Norwegian Continental Shelf


Mideast Crude Tanker Rates at One-Month High

According to an August 16 report from Reuters, crude oil freight rates on major routes were mixed on Monday with the Middle East Gulf market hitting its highest in a month due to better cargo activity and tighter vessel availability as owners held back ships. The world's benchmark Very Large Crude Carrier (VLCC) export route from the Middle East Gulf to Japan DFRT-ME-JAP was at $21,809 a day, up from $6,185 a day last week and at the highest since mid July. (Source: Reuters)


Petroecuador Tenders to Buy 3.84m bbls of Naphtha

State-run oil company Petroecuador has launched tenders to buy a total volume of 3.84 million barrels of naphtha for delivery in the coming month at Esmeraldas, La Libertad or Punta Arenas ports, according to invitations seen by Reuters on Tuesday. Petroecuador has been this year ramping up purchases of fuels in anticipation of a major overhaul at the 110,000 barrel per day (bpd) Esmeraldas refinery, which this month started a 14-month upgrade.


BIMCO: Key Indicators for Shipping Demand

BIMCO.jpg

New data on three of the key indicators followed by BIMCO’s shipping market analyst sheds light on near-term and future market developments. The news follow up on BIMCO market reports and comments to commercial developments for the three main shipping segments. 1. China’s industrial production (IP) grew by 9% in July over the same period last year, according to the National Bureau of Statistics in China. This is a minor decrease from 9.2% in June, which was a three-month-high


Tighter Supertanker Market Impacts Asian Fuel Supplies

The window to sell Western fuel oil to Asia is starting to close as demand for a limited fleet of supertankers to store cheap crude pushes freight rates to multi-month highs, shipping and trade sources said. Crude prices have fallen nearly 60 percent since June and


Enterprise Contracts to Boost U.S. Crude Exports

Enterprise bumps up exports through annual contracts; signs 2015 contracts with PDS, Vitol; seeks one more term buyer. U.S. exports of condensate have been given an important boost after pipeline company Enterprise Products Partners LP agreed annual contracts with at least two major trading


Long Beach Port to Boost Power, Speed Clearance

Chief Executive Jon Slangerup

  Port of Long Beach Chief Executive Jon Slangerup on Thursday unveiled ambitious plans for congestion-beating smart systems for cargo movement and an all-out push to achieve energy resilience for port operations with wind turbines, solar cells and other clean technologies


Congestion is Port of Long Beach’s Toughest Issue

Jon Slangerup (Photo courtesy of the Port of Long Beach)

Slangerup’s State of the Port address outlines goals for Energy Island, smarter supply chain   In his first-ever State of the Port address, Port of Long Beach Chief Executive Jon Slangerup on Thursday unveiled plans for congestion-beating smart systems for cargo movement and an


Cheap Prices Drive Record Chinese Imports

Crude oil, iron ore and soybean shipments hit monthly record. China imported record levels of crude oil, iron ore and soybeans in December as the country took advantage of cheap global prices to boost shipments, despite faltering demand growth at home.


Traders Book Oil Tankers to Store 25m Barrels at Sea

Some of the world's biggest oil traders have booked supertankers to store at least 25 million barrels at sea in recent days, seeking to take advantage of the crash in crude prices and make a profit down the line. Floating storage levels are expected to increase further in coming weeks as


Boston Whaler Holds Ribbon Cutting Event

Boston Whaler celebrated major expansion with an  exclusive ribbon-cutting event

  In 2014, Boston Whaler broke ground on a new era in its history, introducing its largest model ever with the new 420 Outrage. On Jan. 13, 2015, Whaler celebrated the expansion to its facility that makes production of the 420 Outrage possible: the addition of nearly 60


Damen’s Chinese Shipment En Route to Netherlands

Photo courtesy of Damen

To maintain the continuous availability of its wide range of built-for-stock vessels, Damen Shipyards Group is currently shipping a diverse cargo of 16 new pontoons and tugs, as well as numerous modular barges, from China to the Netherlands.


Cargo of UK Rapeseed to Ship to Turkey

A cargo of 25,000 tonnes of British rapeseed will be shipped to Turkey next month, farmer-owned grain merchant Openfield said on Tuesday.   Openfield said it would be the largest ever cargo of rapeseed from Britain to be shipped to Turkey.  


Port of Indiana-Mount Vernon Sets Record

The Port of Indiana-Mount Vernon handled 735,000 tons of cargo in December, which was the highest ever single-month total at any of Indiana's three ports, and also produced the highest fourth-quarter shipments by any port in Ports of Indiana history.


Navy Communications Satellite Launched

A United Launch Alliance (ULA) Atlas V rocket carrying the third Mobile User Objective System satellite for the U.S. Navy lifts off Tuesday, Jan. 20, 2015 from Space Launch Complex-41 at 804 p.m. EST. The MUOS-3 spacecraft

  The Navy's third Mobile User Objective System (MUOS) satellite was launched today at 8:04 p.m. EST from Space Launch Complex 41. This communications satellite will significantly improve capability for Navy and Department of Defense tactical operators.


Study Reveals Inadequate Rest Hours Compliance

Preliminary results from the Concentrated Inspection Campaign (CIC) on STCW Hours of Rest, carried out between September 1 and November 30, 2014 in the Paris MoU region show that 16 ships (14% of detentions during CIC) were detained over the three-month period as a direct result of the CIC for


Port of Indiana-Mount Vernon Bests Tonnage Records

Photo: Ports of Indiana

The Port of Indiana-Mount Vernon handled 735,000 tons of cargo in December, which was the highest ever single-month total at any of Indiana's three ports, and also produced the highest fourth-quarter shipments by any port in Ports of Indiana history.   


Coldharbour Marine's New UK Office

Coldharbour Marine- new UK Headquarters signals recruitment drive‏

  Coldharbour Marine, long recognised for the design, manufacture and supply of inert gas and fluid handling equipment vessels (FPSOs) has moved into a new 25k sq. ft. headquarters in Linby, Nottinghamshire. All of Coldharbour’s administration, design, research and development functions


Oil Tankers are Front Line of Libya's Struggles

Crew members killed in tanker attack this month; West fears worsening violence could lead to civil war. Oil shippers face higher costs and the possible loss of insurance cover on Libyan voyages, caught in a struggle between the rival governments there and threatened by air attacks.






 
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