Qatar is launching a new direct line connecting the Port of Hamad with Omani counterpart, the Port of Sohar, the country’s Ministry of Transport and Communications said. The new service enables the country to bypass the Gulf neighbors that imposed restrictions on Qatari ships following a diplomatic
A niche energy market now, renewables will be much bigger by the middle of the next decade, and a theme not to be ignored, as oil and gas demand growth slows, Wood Mackenzie writes in its latest report. Wind and solar energy are poised to radically reshape the energy market over the coming decades,
By Henning Gloystein SINGAPORE (Reuters) – Qatar’s isolation by other Arab nations has dealt a strong hand to Japanese utilities in talks reviewing long-term gas contracts with the top LNG exporter, likely accelerating a shift to a more openly traded global market for the fuel. If Japan gets its way
In an oversupplied market carriers have proved to be fairly adept in manoeuvring capacity around, creating fertile conditions for rate increases, according to shipping consultancy Drewry. After five months of 2017 Drewry’s Global Freight Rate Index stands 37% higher than it was in the same period la
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As the tensions between Qatar and its Middle Eastern neighbors heat up on the back of severing of diplomatic ties on Monday, June 5, the shipping industry is bewildered by the potential impact the move might have on the industry. Companies with trade routes to and from Qatar are already feeling the
A liquefied natural gas (LNG) carrier Wilforce is transiting the Suez Canal fully-loaded with Qatari LNG, the vessel’s latest AIS data shows. The cargo is destined for Barcelona, with estimated time of arrival being June 15. The Norwegian-flagged LNG carrier, built in 2013, loaded its cargo in Ras-L
Three more states have become party to the International Maritime Organization’s (IMO) Ballast Water Management (BWM) Convention scheduled to enter into force on September 8, 2017. The Bahamas deposited its instrument of accession with the IMO on June 8 following accessions by Singapore on the same
By Christopher Johnson LONDON (Reuters) – Oil prices resumed a downtrend on Friday following steep falls earlier in the week, pressured by widespread evidence of a fuel glut despite efforts led by OPEC to tighten the market. Brent crude oil was down 20 cents at $47.66 a barrel by 0820 GMT, around 12
By Oleg Vukmanovic LONDON (Reuters) – The escalating diplomatic conflict between Qatar and several of its Middle East neighbours has roiled the liquefied natural gas trade, causing at least one tanker to change course and UK gas prices to spike. Saudi Arabia, the United Arab Emirates, Egypt and othe
LONDON (Reuters) – A change in UK listing rules for a potential initial public offering of oil company Saudi Aramco would be “highly inappropriate”, fund manager Royal London said on Thursday, adding it would lobby against such a move. “Any attempt to bend the listing rules in order to facilitate th
The oversupply of tonnage in the shipping industry should be left to sort out itself, it was concluded at a panel debate on Ship Oversupply and Accelerating Sustainable Recycling, held on June 6 in London, UK. Over the past eight years, the world fleet has grown by 50 percent in tonnage terms, which
The UN has urged governments to implement tighter marine pollution controls or risk further degradation of the oceans, fish stocks and ecosystems. Countries are being asked to support a ‘zero draft’ Call To Action at the 2017 UN Ocean Conference in New York that calls for an acceleration of “actions
Although the diplomatic crisis in Qatar would have little impact on the wider oil market, the situation could disrupt Qatari crude and refined product exports. The crisis has upended shipping markets as tightened port restrictions are expected to cause logistical complications, according to Ocean Fr
