Crude-by-Rail Volumes Higher in 2019

In 2019, production growth will necessarily slow-down in two key US shale basins due to pipeline constraints, according to ESAI Energy’s recently published North America Watch. Crude oil from the booming Permian Basin in West Texas has already been impacted with steep price discounts from a lack of pipeline takeaway, but the Bakken in North
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Greece’s government will submit its 2019 draft budget to parliament on Monday evening, aiming to outperform its primary surplus targets for a fifth year and avoid implementing painful pension cuts agreed with creditors. Greece emerged from an international bailout in August. The government has promised its international lenders it will achieve a primary budget surplus,
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The price of shipping liquefied natural gas (LNG) has spiked in September and is likely to remain high next year, buoyed by rising production from new plants and concerns that demand for LNG vessels will outpace supply. The rate for vessels shipping LNG from the Atlantic Basin to Asia has jumped to $90,000 to $95,000
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Saga Cruises’ first newbuild boutique cruise ship is to be christened during a ceremony at the Port of Dover, UK on 5 July 2019. Spirit of Discovery will be the first vessel to be named at Dover in more than a decade, which will also make her the first to be christened at Dover Western
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Athens-based Top Ships Inc. is expanding its fleet, taking delivery of two Medium Range tankers and two Suezmaxes over the next eight months, a senior company executive said Wednesday. The tankers have already been time- chartered out and the company is open to more new purchases, the source added. “Growth is definitely a part of
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BW Group’s first LR2 tankers will be delivered from the first quarter of next year even as the sector is facing challenges due to poor earnings, its CEO Andreas Sohmen-Pao said. The group already has a combined total of more than 40 LR1 and MR product tankers and last year placed an order for six
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Genting Cruise Lines is to carry out a US$30 million refit to convert SuperStar Virgo into Explorer Dream when she transfers from its Star Cruises brand to its Dream Cruises fleet in March 2019. The 1,870-guest ship will be equipped with many of Dream Cruises’ signature venues and onboard offerings. They will include a Crystal
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U.S. shale producers are locking in prices for their production as much as three years into the future in a sign that strong domestic crude pricing is nearing a peak, according to market sources familiar with money flows. U.S. crude prices for 2019 and 2020 CLYstc1 CLYstc2, based on an average of each year’s monthly
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The European Union sees little chance of relief from controversial U.S. metal tariffs before mid-2019 while aiming for a narrow trans-Atlantic trade deal to avert any extra American automotive duties, according to one of the bloc’s officials. The European Commission’s current talks with the U.S. to reduce trans-Atlantic market barriers for industrial goods should keep
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Crude Oil Price Movements In August, the OPEC Reference Basket declined by $1.01 m-o-m, settling at $72.26/b. Crude oil futures were also down for the month. Price declines were mainly due to worries that the ongoing global trade disputes would lower oil demand, strengthening US dollar, US stock builds and reported supply increases. ICE Brent
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