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LNG BUNKER WEEKLY: Japan conducts first ship-to-ship bunkering; GAC, Pilot sign HOA

The Singapore LNG bunker fuel price was assessed at $8.732/MMBtu, maintaining a $1.975/MMBtu spread to the JKM. The JKM for December was assessed at $6.757/ MMBtu. The market backwardation over the December-January period widened on a softer January derivatives market while December remained tight, with physical offers going past the $7/MMBtu mark on lingering supply …

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Tianjin Container Freight Index up 1.68 pct

China Tianjin Container Freight Index (TCI), an indicator of northern China’s international container freight rates, stood at 713.8 points on Friday, up 1.68 percent compared with the previous working day. The statistical samples of TCI cover 19 international shipping routes departing from the port of Tianjin to ports in Europe, the Mediterranean, America, Asia and …

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India’s container market to rebalance in coming months: FIEO

Growing demand from India’s consumer and industrial sectors could help boost imports and rebalance the country’s container markets over the next three months, according to Ajay Sahai, the Director General and CEO of the Federation of Indian Export Organization. Speaking to S&P Global Platts recently, Sahai said Indian exporters were waiting for year-end demand signals …

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GCC Bunkers selects ION Commodities’ Aspect CTRM solution

ION, the largest global provider of trading, analytics, and risk management solutions for commodities and treasury management, today announced GCC Bunkers selected the ION Aspect CTRM solution to manage its complex physical oil and fuel business. Aspect, the leading multi-tenant SaaS CTRM solution, was selected for its extensive capabilities in the bunker fuels market, its …

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Wärtsilä Reports Stable Order Intake During Third Quarter

HIGHLIGHTS OF JULY–SEPTEMBER 2020 • Order intake was stable at EUR 981 million (979) • Net sales decreased by 11% to EUR 995 million (1,118) • Book-to-bill amounted to 0.99 (0.88) • Comparable operating result increased by 55% to EUR 61 million (39), which represents 6.1% of net sales (3.5) • Earnings per share increased …

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NYK to Make Gazocean a Wholly Owned Subsidiary

NYK is pleased to announce that it has signed a Sales and Purchase Agreement with Total, a leading oil and energy company headquartered in France, acquiring all the French company’s shares in the ship management company, Gazocean on October 22. Based in Marseille, France, and responsible for the management of six LNG carriers, Gazocean is …

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Marine energy goes on global recruiting spree

Several companies and organizations working in the marine energy sector have posted vacancies for qualified personnel who can help drive this emerging renewable energy industry forward. Blue X wave energy device fabrication (Courtesy of Mocean Energy) In these unfortunate Covid-19 times, when many businesses face uncertain future and attaining a secure job becoming an ever-harder …

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Danish developers scout for brainpower for three nearshore wind projects

HOFOR and LillebÃ¦lt Vind have issued a few calls for tender prequalification over the past several days as part of their plans to build offshore/nearshore wind farms in the Ã˜resund and LillebÃ¦lt areas in Denmark. The two Danish companies are currently jointly prequalifying engineering consultancies and legal advisors through three calls published in October, with …

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Turkey could work with foreign firms to develop Sakarya gas field

Turkey stated that there is a possibility that it would cooperate with foreign companies to develop its massive discovery in the Black Sea. According to an article by Reuters, Turkish Energy Minister Fatih Donmez stated that the country would operate the gas field. Donmez reminded that the country made the discovery on its own with …

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Hermitage drops pursuit of NYSE listing appeal

Offshore support vessel provider Hermitage Offshore Services has decided to withdraw its appeal of the New York Stock Exchange’s (NYSE) determination to delist the company’s common shares. Hermitage and 28 subsidiaries in August 2020 filed for voluntary Chapter 11 petitions amid global oil price slump and coronavirus pandemic. Trading of the company’s common shares on …

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