The euro hit a fresh two-decade low on Tuesday, dealt a fresh blow by renewed concern that an energy shock will keep inflation elevated and makes a recession in Europe all but certain. China’s yuan weakened to a two-year low, while sterling briefly touched its weakest since March 2020. Business...
https://www.hellenicshippingnews.com/euro-slumps-to-two-decade-lows-as-energy-crisis-bites/
Chinese research ship Yuan Wang 5 which arrived at the Hambantota International Port (HIP) on the 16th of August for replenishments, departed at 4:00 pm on Monday, 22nd August 2022. Source: Hambantota Port Corp
https://www.hellenicshippingnews.com/yuan-wang-5-departs-hambantota-int-port/
China’s fuel oil exports rose for a third consecutive month in July to 1.60 million mt (326,722 b/d), which was up 13% from June but down 10% year on year, according to General Administration of Customs data. That meant year-to-date exports were down 7.7% at 10.69 million mt (320,114 b/d), with...
https://www.hellenicshippingnews.com/july-fuel-oil-exports-rise-for-third-consecutive-month/
Siem Offshore can confirm an agreement has been made for a contract extension in Canada. The extension refers to the Ice Class AHTS vessel “Avalon Sea”, covering a firm duration of 18 months upon completion of the current term. This will ensure continued operations for the vessel well into Q2 2024....
https://www.hellenicshippingnews.com/contract-extension-avalon-sea/
Raw sugar futures on ICE fell on Monday as recent weakness in fuel prices in Brazil raised the prospect that mills in the world’s top sugar producer will increasingly use cane to produce the sweetener rather than biofuel ethanol. SUGAR * October raw sugar SBc1 fell 0.6% to 17.98 cents per lb by...
https://www.hellenicshippingnews.com/raw-sugar-futures-fall-coffee-prices-also-down/
China’s economy still struggles to support the real estate market & the property sector Source: Xclusiv Shipbrokers Inc.
https://www.hellenicshippingnews.com/xclusiv-shipbrokers-weekly-22nd-august-2022/
The Maritime Cyprus conference will take place in Limassol, from 9 – 12 October 2022 and the influential speaker line-up marks a confident return to this biannual event. Centered around the theme of “Shipping’s response to the three Cs: Crises – Challenges – Competitiveness,” the conference will...
Oil rose $1 a barrel on Tuesday as tight supply moved back into focus as a result of Saudi Arabia floating the idea of OPEC+ output cuts to support prices and the prospect of a drop in U.S. crude inventories. The Saudi energy minister said OPEC+ had the means to deal with challenges including...
https://www.hellenicshippingnews.com/oil-climbs-as-tight-supply-moves-back-into-focus/
Lithuanian ship designer Western Baltic Engineering (WBE) is unveiling new designs for what it believes is the first ever electric pusher vessel for use on Europe’s inland waterways called the ‘ELECTRIC EEL’. Klaipeda headquartered WBE said the first electric pusher is due to be built next year for...
If the global liquefied natural gas (LNG) market is viewed just in terms of volumes, the picture appears one of serene stability. But if the market is assessed by looking at the price of spot cargoes, a sharply contrasting view emerges, namely one of stress with competition between buyers in Europe...
https://www.hellenicshippingnews.com/column-calm-lng-volumes-contrast-with-spot-price-turmoil/