Chemical tanker earnings to take hit from IMO 2020.
EARNINGS from the chemical tanker segment are expected to be hit by the new International Maritime Organization rules on fuel, “The IMO fuel regulations will have a significant adverse effect on earnings, that there were many uncertainties, pointing to a challenging future. Out of 4,485 chemical tankers in the market,…
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MarOil drops towards $65 a barrel as Libya’s biggest field restarts
Oil fell towards $65 a barrel on Tuesday, pressured by the restart of Libya’s biggest oilfield and on expectations for an increase in US crude inventories. Wells at Libya’s El Sharara oilfield have restarted and the aim is to reach initial output of 90,000 barrels per day (bpd), a field…
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MarNOC lifts force majeure at Sharara oil field.
National Oil Corporation (NOC) announces the lifting of force majeure at the Sharara oil field following the removal of the armed group responsible for its blockade and production loss of 1.8 billion USD. Sharara operating company Akakus has received written assurance from the Libyan National Army’s Brigadier General Al Rifi…
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MarOil prices rise as OPEC rebuffs Trump’s pressure
Oil edged up on Tuesday as OPEC was expected to stick to its production cuts despite pressure from U.S. President Donald Trump, when many traders were out of the office attending International Petroleum Week, a series of industry events in London, after Trump called on OPEC to ease its efforts…
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MarBaltic Exchange to launch LNG index and new tanker routes
THE Baltic Exchange is aiming to officially launch a new liquefied natural gas index next month, while it pilots two others. The LNG 1 index, which represents the Gladstone to Tokyo round voyage on a 160,000 cu m carrier, has been on a trial run since July. The latest assessment…
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