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GRAINS-CBOT Wheat reaches 12-week high on Black Sea tensions

Posted to Maritime Reporter on September 13, 2024

Chicago Board of Trade Wheat Futures hit a 12-week-high on Friday, as the escalating tensions between Russia and Ukraine inflicted increased uncertainty over Black Sea exports. Traders have focused their attention on the Black Sea, after Ukraine…

The Black Sea tensions have pushed the CBOT wheat to its 12-week high.

Posted to Maritime Reporter on September 13, 2024

Chicago Board of Trade Wheat Futures hit a 12-week-high on Friday, as the escalating tensions between Russia and Ukraine inflicted increased uncertainty over Black Sea exports. Traders have focused their attention on the Black Sea, after Ukraine…

EU approves 682 million euros in Belgian state subsidies to support offshore wind energy

Posted to Maritime Reporter on September 13, 2024

The European Commission announced that EU regulators had approved a Belgian scheme of state aid worth 682 million euros ($756.54 millions) to support renewable energy offshore wind. The commission stated that the measure would support the construction…

Sailing-British select Swiss for America's Cup Challenger Semi-Final

Posted to Maritime Reporter on September 13, 2024

The United States will be facing Italy in the semi-finals for the America's Cup Challenger Series, which begins this weekend. The four teams will compete to be the first to take on New Zealand in the "Auld Mug", the oldest trophy of international sport dating back to 1851.

The British choose Swiss to compete in the semi-final of the America's Cup Challenger Semi-final

Posted to Maritime Reporter on September 13, 2024

The United States will be facing Italy in the semi-finals for the America's Cup Challenger Series, which begins this weekend. The four teams will compete to be the first to take on New Zealand in the "Auld Mug", the oldest trophy of international sport dating back to 1851.

Italian divers recover video from Mike Lynch's sunken boat

Posted to Maritime Reporter on September 13, 2024

A source familiar with the situation said that Italian Navy divers recovered video surveillance gear from the superyacht which sank near Sicily in late October, killing British tech magnate Mike Lynch, as well as six others. The equipment recovered…

GRAINS-Wheat hovers at near 2-month high amid Black Sea tensions

Posted to Maritime Reporter on September 13, 2024

Chicago wheat futures rose on Friday, hovering near their highest level in two months. Supply concerns increased due to the escalating tensions around the Black Sea region. The corn market rose for the third session in a row despite the U.S.

EU wheat prices fall as USDA data dampens rally over Black Sea risks

Posted to Maritime Reporter on September 12, 2024

Euronext Wheat ended Thursday slightly lower as an unexpected rise in a closely followed forecast for the U.S. Corn Crop encouraged prices to consolidate following a rally related to Black Sea Supply Concerns, traders said. The December wheat contract…

EU wheat runs on as missile strike reports add to Black Sea concerns

Posted to Maritime Reporter on September 12, 2024

Euronext Wheat Futures rose on Thursday for the third consecutive day, reaching a new peak of one month. Reports that a grain ship had been struck by a missile on the Black Sea kept attention on the supply risks in this vital export zone. The gains were modest…

Philippines anglers call for justice after oil tanker sinks

Posted to Maritime Reporter on September 12, 2024

LIMAY, Philippines, Sept 12 (Thomson Reuters Foundation). - E fren Dominico has actually been a fisherman in the Bay of Manila in. the Philippines for 43 years and survived many storms, but. absolutely nothing prepared him for the day when an oil tanker sank off the.

The Russian Sept loading plan has been revised by 0.2 million t to reach 6.2 million t

Posted to Maritime Reporter on September 12, 2024

Market sources say that the crude oil loading plan for Russia from the Baltic port of Primorsk & Ust-Luga has been revised up by 0.2 million metric tons in September to 6.2 millions tons. Rosneft is Russia's biggest oil company. It has added 200…

Data shows that Russia increased LPG rail exports from China to Russia by 40% between January and August.

Posted to Maritime Reporter on September 12, 2024

Calculations based on data and industry sources showed that Russian rail exports of liquefied gas to China increased by almost 40% in the period January to August, to 184,000 tons. Russian Railways imposed restrictions to ease bottlenecks in May and early June…

The rift between China and the Philippines over South China Sea has deepened

Posted to Maritime Reporter on September 12, 2024

Under Ferdinand Marcos Jr., the relationship between Manila and Beijing has soured. Manila is now turning back to the United States for support in its maritime disputes against China. JAN 3: The Philippines and United States conduct their second joint patrol of the South China Sea…

EU wheat reaches four-week high on Black Sea supply concerns

Posted to Maritime Reporter on September 11, 2024

Euronext Wheat Futures reached a new four-week high on Wednesday as weather setbacks from Russia offset the recent pressure of brisk Black Sea Exports. December wheat, which was the most actively traded position on Paris' Euronext, closed 1.4% higher at 223.00 Euros ($245.52) per metric ton.

Hanhwa, a S.Korea-based company, intends to acquire full control of Dyna-Mac in Singapore

Posted to Maritime Reporter on September 11, 2024

Hanhwa Group, a South Korean conglomerate, has offered to buy all the shares in Dyna-Mac Holdings that it does not already own. This would value the offshore oil-and-gas contractor at S$669.2million ($513.90million). Hanhwa units Hanhwa Aerospace, and Hanwha Ocean own 25,4% of Dyna-Mac.

German lawmakers approve rescue of Meyer Werft shipbuilder, say the German parliament

Posted to Maritime Reporter on September 11, 2024

Members of the Budget Committee told the German lower house and Lower Saxony's state parliament on Wednesday that they had approved the rescue of Meyer Werft - one of the largest cruise ship builders in the world. The shipbuilder has a financing gap of almost 2.8 billion euros ($3.1 billion)…

Petroecuador, Ecuador's gas company, launches a bidding process to develop an offshore gas field

Posted to Maritime Reporter on September 10, 2024

Petroecuador, Ecuador's sole energy project offshore, said on Tuesday that it would launch a fresh bidding process in order to find a suitable operator. In a press release, the company stated that three wells in operation produce around 21 million cubic foot of gas each day.

Ainslie wants to continue building on British speed gains for the America's Cup.

Posted to Maritime Reporter on September 10, 2024

Ben Ainslie, British Team Captain, said that his team is focused on improving themselves and the AC75 boat before they move into the next phase of America's Cup campaign. The British crew, after what Ainslie described as "rustiness" in the race…

The death toll of a capsized boat off the coast of Senegal has risen to 26

Posted to Maritime Reporter on September 10, 2024

In a tweet on Tuesday, the Senegalese Navy said that the death toll in a migrant ship accident off the coasts of Senegal had risen to 26, after 17 additional bodies were discovered. Radio Television Senegalaise reported late Sunday that the boat…

China's crude oil imports in August fell 7% due to weak demand and margins at the refineries

Posted to Maritime Reporter on September 10, 2024

Customs data released on Tuesday showed that China's crude imports fell by 7% in August compared to the same period last year. This was due to weak refining margins, low fuel consumption, and a continued decline in demand. However, shipments have recovered from their lows.