LONDON, Nov 9 (Reuters) – The market for hedging oil tanker
freight has revived sharply this year to a value of $4.5 billion
after years of torpor, with ship owners looking to profit from a
freight rally and more energy companies scramble to cover risk,
industry sources say.
Cheap oil bargain hunters after the price drop and
refineries, which have been operating at unusually high levels
to meet rising demand, have helped tanker markets experience
their best earnings in years after a long period of losses.
LONDON, Nov 6 (Reuters) – Egypt anticipates a ramp-up in oil
volumes through the SUMED pipeline once Iran re-enters the world
market – a move that is welcomed by Cairo, the country’s
petroleum minister Tarek El Molla told Reuters on Friday.
SUMED, which owns and operates Egypt’s Mediterranean port of
Sidi Kerir, is half owned by state-run oil company Egyptian
General Petroleum Corp. A group of four other Gulf Arab
countries – Iran’s arch rival Saudi Arabia, as well as Kuwait,
the United Arab Emirates and Qatar – owns the other half.
LONDON (Reuters) – The shipping industry expects to be stung by a carbon levy as momentum building from climate talks in Paris starting this month makes a cut to its greenhouse gas emissions likely.
Any tax – either a levy based on fuel use by diesel-driven ships or a market based mechanism – would add to rising costs for the industry, which transports 90 percent of world trade.
LONDON, Oct 23 (Reuters) – London’s Baltic Exchange and
Chinese state-owned Ningbo Shipping Exchange said on Friday they
would collaborate on container indices, the first foray by the
Baltic into this segment of the freight market.
Sources told Reuters in early October that the London Metal
Exchange, which is owned by Hong Kong Exchanges and Clearing
, had made an informal approach to the Baltic to
LONDON, Oct 22 (Reuters) – Syrian raw sugar imports have
jumped in recent weeks as the country bolsters local stocks at
the same time as Russia has stepped up its support for ally
President Bashar al-Assad, trade sources said.
The flows of sugar are part of a surge in shipping traffic
to the country with more than 100 cargo vessels carrying goods
arriving recently in the biggest buildup of shipping for over a
LONDON/MOSCOW (Reuters) – More than 100 cargo vessels have reached Syria in the past few weeks, in the biggest buildup in shipping for over a year as Russia steps up its support for ally President Bashar al-Assad.
The ships have arrived directly from Russia, Black Sea ports such as Constantza in Romania as well as from Lebanon and Egypt, according to shipping data, maritime intelligence and international trade sources.
LONDON/MOSCOW, Oct 21 (Reuters) – More than 100 cargo
vessels have reached Syria in the past few weeks, in the biggest
buildup in shipping for over a year as Russia steps up its
support for ally President Bashar al-Assad.
The ships have arrived directly from Russia, Black Sea ports
such as Constantza in Romania as well as from Lebanon and Egypt,
according to shipping data, maritime intelligence and
international trade sources.
MOSCOW, Oct 16 (Reuters) – Alexander Tkachenko, a
60-year-old sea captain, has a front-row view of Russia’s
military intervention in the Syria conflict: his cargo ship has
been languishing off the Syrian coast for nearly three months,
surrounded by Russian warships.
Tkachenko, his Russian-owned vessel and his crew of 10
Ukrainian sailors have nothing to do with the conflict, but were
stranded after they delivered a cargo of electricity
transformers to Syria and then got caught up in a lawsuit.
LONDON/DUBAI (Reuters) – Aid to Yemen, facing a humanitarian crisis, is being slowed by a Saudi-led coalition which has warned commercial vessels to stay away from areas hit by fighting, a U.S. Navy report said.
The Arab coalition, fighting to end control of much of Yemen by the Iran-allied Houthi movement, denied the allegation and said it was keen for ships to take in relief.
LONDON, Oct 14 (Reuters) – Lithuania is in talks with U.S.
liquefied natural gas company Cheniere Energy Inc over
potential imports as it seeks to cut dependence on Russian
state-owned supplier Gazprom, its energy minister said
Lithuania opened an LNG import terminal in 2014 and started
exporting natural gas to neighbouring Estonia earlier this year,
breaking the supply monopoly of Gazprom.