Drewry: Tight Supply to Keep Oil Prices Up in Q4

Tanker owners are gearing up for the seasonal surge in global demand for oil in the fourth quarter of 2018, which coincides with the entrance into force of US sanctions on Iran. Iranian companies that are facing the new wave of sanctions following the 180-day wind-down period ending on November 4, 2018 are the National Iranian
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As impending U.S. sanctions squeeze Iranian oil supplies, top OPEC member Saudi Arabia is changing its own crude diet to meet customer demand for alternative cargoes. The trading arm of state-run producer Saudi Aramco is said to be offering an ultra-light oil known as Khuff condensate, a rarely traded grade that’s typically processed in the
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In a move to continue strengthening their logistical operations, World Fuel Services (WFS) has welcomed a new supply vessel to its offering. The 75m LOA, 3100 DWT product tanker, Whitstar, was deployed in early September 2018 to operate along the east and south coast with the task of servicing UK terminals Whitstar World Fuel Services
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A steady rise in U.S. oil output will gather pace in the next five years, OPEC said on Sunday, predicting that demand for the producer group’s crude will decline despite a growing appetite for energy fed by global economic expansion. “Declining demand for OPEC crude is a result of strong non-OPEC supply in the 2017–2023
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Future Supply Chain Solutions Limited (FSC) has signed an agreement with Voltbek Home Appliances Private Limited (Voltbek). Voltbek is an equal partnership joint venture between Voltas Limited –a leading AC Brand and Arçelik- a leading player in home appliances industry. Appointed as its logistics partner, FSC, a third-party supply chain solutions specialist and logistics service
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Cotton Association of India’s (CAI) August 2018 estimate of the crop for the season 2017-18 beginning October 1, 2017, has been retained at 365 lakh bales of 170 kg each, i.e. at the same level as in its estimate made in the previous month. The CAI has projected total cotton supply up to August 31,
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OPEC needs to keep working with other oil producers to manage global supplies as demand for crude faces “headwinds,” the head of the organization said. The historic supply deal between Saudi Arabia, Russia and other producers reached in late 2016 needs to become permanent, Mohammad Barkindo, secretary-general of the Organization of Petroleum Exporting Countries, said
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German cruise line AIDA Cruises has signed a Declaration of Intend with the state of Mecklenburg-Western Pomerania, the Hanseatic and University City of Rostock and Rostock Port to jointly promote environmentally friendly and sustainable cruise shipping in Rostock. The aim of the agreement is, analogous to Hamburg and Kiel, to build a shore power plant for cruise ships
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Wilhelmsen has partnered with Ivaldi Group to deploy an additive manufacturing facility in the Wilhelmsen Ships Service’ facilities in Singapore. The local micro factory capable of on-demand production provides 3D printed parts to select partners as part of their early adopters program in a port that sees more than 100 vessel visits a day. “Looking
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As oil markets show growing global supply concern, Iraq is signaling the jitters may be overdone. Output from OPEC’s second-biggest producer has jumped to a record and is set to expand further, reflecting higher investment in the country’s southern fields following crude’s rally. “Iraq has oil that’s cheap and relatively easy to produce,” Mustafa Ansari,
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