Iraq Crude Exports Extend Gains in September as Buyers Shun Iran

Manjula

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Iraq exported more than 4 million barrels a day for a second consecutive month in September as buyers sought alternative supplies to Iran ahead of U.S. sanctions. Shipments from OPEC’s No. 2 producer were 4.062 million barrels a day, the highest since November 2016 and compared with 4.061 million a day in August, according to
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European Union finance ministers agreed on Tuesday to remove the Pacific island of Palau from an EU list of tax havens. The island had been included on the blacklist in March as its tax rules and practices were deemed not in line with EU standards. After it committed to changes, EU ministers agreed to move
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BCTN is bundling freight in Alblasserdam from its eight terminals in the Netherlands and Belgium in order to offer point-to-point services to the deepsea terminals on Maasvlakte. Kramer and Waalhaven Group are bundling cargo at their own terminals in Rotterdam and offer clients daily point-to-point services between the Waal and Eemhaven and the deepsea terminals
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Shipping company Scorpio Group plans to fit scrubber equipment to a majority of its vessels by July 2020 to allow them to continue burning fuel oil after global sulfur emission limits are cut. The International Maritime Organization’s global marine fuels sulfur limit is set to drop to 0.5% from 3.5% at the start of 2020,
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Thailand’s Ministry of Transport plans to open LNG stations along the eastern seaboard for vessels using clean energy as the International Maritime Organization’s global sulfur limit rule for marine fuels looms, the Bangkok Post reported Sunday. The IMO will cap sulfur in marine fuels at 0.5% worldwide from January 1, 2020, compared to 3.5% currently.
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Korean shipbuilders are starting to get orders for big ticket ships like liquefied natural gas tankers. Hyundai Heavy Industries (HHI) inked a $210 million order from Norwegian shipper Knutsen NYK Offshore Tankers (KNOT) to build two shuttle tankers for delivery after June 2020, the company said Monday. Shuttle tankers transport oil from offshore oil fields.
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Seanergy Maritime Holdings Corp. announced that it has entered into definitive agreements with unaffiliated third parties for the purchase of a modern secondhand Capesize vessel and the sale of two Supramax drybulk vessels. The transactions are expected to be completed in the fourth quarter of 2018. Following these transactions, Seanergy will be the only pure-play
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Freight rates for VLCCs making long-haul voyages east out of the US Gulf Coast and Caribbean continued to soar Monday, jumping $1 million in just two trading sessions as tonnage availability continued to wane, with an increased number of Asian buyers looking to cover cheaper US crude cargoes. “All of the Japanese and Korean charterers
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With the US, India’s largest destination for merchandise exports, showing robust economic growth, its best in the last four years, Indian exports hold a promising outlook, helping the country’s macro picture, an ASSOCHAM paper has noted. The US economy grew by 4.2 per cent in the second quarter of this year, the best in about
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The government has taken control of the debt-laden Infrastructure Leasing & Financial Services (IL&FS). It has suspended the existing board and constituted a new six-member board led by Mr Uday Kotak, MD of Kotak Mahindra Bank. Dr Malini Shankar, Director-General of Shipping, is also a member of the new board, it is learnt.

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