OSLO/ STOCKHOLM, Jan 22- Western sanctions on Russia are restricting the Arctic shipping route along its north coast to domestic cargoes and energy exports with many foreign firms staying away after test voyages on a fabled short-cut between Europe and Asia. Now it seems that reality is kicking in, "said Bjorn Gunnarsson, managing director of the Centre for High...» Read More
BENGHAZI, Libya, Aug 20- Libya has restarted oil exports from its biggest port for the first time since the end of a year-long blockade, a boost to the central government which is struggling with a wave of clashes in the capital. A tanker has docked at Es Sider and begun loading 600,000 barrels of oil, said Mohamed El Harari, spokesman for state-run National Oil Corp.
NEW YORK, Aug 20- As the first U.S. oil condensate exports head to Asia from the Gulf Coast, crude producers and refiners are exploring ways to get around a century-old law that makes it three times more expensive to ship by water between U.S. ports than to sail to a foreign port.
COPENHAGEN, Aug 19- Denmark's A.P. Moller-Maersk announced the first share buy-back in its 110- year history on Tuesday as an overhaul of the sprawling shipping and oil empire leaves it with more cash than it can usefully invest.
LONDON, Aug 15- Iraqi Kurdistan has delivered its third major cargo of crude oil out of a Turkish port and a fourth is sailing to Croatia, showing the autonomous region is finding more buyers despite legal pressure from Baghdad and setbacks in the United States.
*Panamax freight rates from U.S. to Asia rise. NEW YORK/ SINGAPORE, Aug 13- Asian buyers of ultra light oil from the United States are struggling to find small-sized ships willing to undertake the month-long voyage at affordable rates as U.S.- Asia oil trade flows grow. "Why would you want to send a Panamax to Asia?
Aug 7- Cargill Inc, a top global commodities trader, said on Thursday its quarterly earnings fell as drought limited farm services opportunities in the United States and due to a loss stemming from the drop in the value of Venezuela's currency. Plains states, which have similarly impacted rival agribusinesses Archer Daniels Midland Co and Bunge Ltd..
*China and India still top buyers of Iran's oil. LONDON, Aug 6- Iran's oil exports slipped for a second month in July, yet sales remained above the limit set by the West under an interim deal aimed at curbing Iran's nuclear program, according to sources who track tanker shipments.
*China builders to grab a fifth of LNG ship orders to 2020- ABS. Up to 50 liquefied natural gas tankers, or more than 20 percent of the 225 LNG vessels expected to be added worldwide by the end of 2020, are set to be built in China to deliver gas to its ports, according to estimates from ship safety agency the American Bureau of Shipping.
HOUSTON, Aug 4- The Kurdistan Regional Government of Iraq asked a U.S. court on Monday to throw out an order to seize some 1 million barrels of disputed crude oil and allow the cargo to be freely delivered in Texas.
HOUSTON, Aug 1- An asphalt maker in New Jersey became the second U.S. company to publicly confirm buying Kurdish crude oil, saying on Friday it had imported a cargo just weeks before an Iraqi lawsuit over a separate $100 million shipment offshore Texas.
*Food and medicine exempt from U.S., EU sanctions on Iran. LONDON/ ANKARA, Aug 1- It should have been a routine delivery of vegetable oil to Iran for making margarine; instead the tanker spent months in the Gulf as banks held up payment for the cargo, fearing they would run foul of international sanctions.
LONDON, Aug 1- After a legal show-down in Texas this week, the outlook for a handful of tankers holding some $300 million worth of Kurdish oil is not looking good.
SINGAPORE, July 31- Part of a Kurdish oil cargo has been offloaded from a Greek-managed tanker into another tanker in the South China Sea, but mystery surrounds the identity of the buyer and where the two tankers are headed. Iraqi Kurdistan is locked in a bitter legal and diplomatic struggle with Baghdad over international oil sales.
Westport Petroleum Inc, the Franklin, Tennessee- based shipping arm of Japanese trader Mitsui& Co, chartered the BW Zambesi, an LR1 tanker, also known as a Panamax class vessel, in mid-July for the voyage. The tanker, owned by BW Group, docked at the Galveston terminal in Texas on Tuesday, AIS data on Reuters showed.
The recession took the boating industry from 400,000 new yearly registrations to less than 200,000. Now it is floating again.
John Nelson, Chairman of Lloyd's of London describes that while it has diversified from marine insurance, it still remains significant in Asia.