LNG Price Recovery Spurs Spending in Race against Carbon Targets
The investment outlook for liquefied natural gas (LNG) has improved this year but project go-aheads will not match the bonanza of 2019, as the fight against climate change clouds the prospects for gas demand growth longer term.Renewed optimism as the industry emerges from the pandemic, rapidly rebounding oil and gas prices and a better economic outlook is building confidence in short and long term LNG demand in Asia and spurring companies to look at new LNG projects, most of which were shelved last year when prices slumped.However, they need to take into account the ever tighter carbon emissio
McQuilling Mid-Year Tanker Market Outlook
McQuilling Services Announces the Release of the 2019 Mid-Year Tanker Market Outlook Update.The Mid-Year Tanker Market Outlook Update provides an outlook on the global tanker market in the context of global economic growth and oil fundamentals influencing tanker demand and vessel supply. The outlook includes a view on future asset values, time charter rates, market freight rates and TCE revenues for 24 major tanker trades and four triangulated routes across eight vessel segments for the second half of 2019 through the remaining four years of the forecast period 2019-2023.
Canadian Shipowners Applaud Government's Icebreaker Response
The Canadian Shipowners Association (CSA) says it is extremely pleased that the Government of Canada is responding to the need for additional icebreaking support on the Great Lakes and St. Lawrence Waterway, as with another icebreaker, key cargo such as wheat, will move to market quicker. "This is an important move by the Canadian Government to support the Canadian short sea shipping industry on the Great Lakes and St. Lawrence Waterway," said Robert Lewis-Manning, President of the Canadian Shipowners Association.
Lack of Ice-Breakers Delays Great Lakes Shipping
With the Great Lakes and St. Lawrence Seaway facing the thickest and broadest ice cover in years, the Canadian Shipowners Association (CSA) is extremely concerned that Canada's ice-breakers will not be able to create and maintain the routes needed to move key cargo to Canadian and American industries. The Canadian Coast Guard is doing its utmost to work with resources across a large geographical area subject to heavy ice, but this situation is rippling into Canada's transportation and economic system.
President Clinton Energizes Oil Price Debate
It’s really quite amazing how one year and an additional $21 per barrel of crude can change people’s attitudes. It was less than 12 month ago that the price per barrel of oil hovered around the $9-10 mark, and international officials across the globe pleaded with leaders of OPEC to trim production in an effort to bolster pricing, which had lagged for two years running. Today, however, the tune is far different. A cold winter in the N.E. U.S., combined with per barrel pricing over $30 has consumers and local legislators screaming for action, with obvious good effect. The Clinton administration responded to growing worries that oil prices are out of control by announcing on Wednesday more supplies were headed to U.S. ports, but cautioned that gasoline prices may move higher.
