The United States accused North Korea on Thursday of breaching a U.N. sanctions cap on refined petroleum by making illicit transfers between ships at sea, according to a document seen by Reuters, and demanded an immediate end to all sales of the fuel.The United States submitted the complaint to the U.N. Security Council North Korea sanctions committee.
Energy trader Vitol and coal miner Peabody Energy are partnering with start-up Arq to turn coal waste into a low-sulphur oil product that could be an alternative fuel for shippers as new U.N. pollution rules loom, the companies said in a statement.Global oil and shipping companies are looking at any and all options to avoid becoming a casualty of the major market dislocations that the new
Coal prices in Asia are being driven to multi-year highs by a rare combination of simultaneous demand growth in the region's top four importers.Depending on the price used, thermal coal is either close to a two-year high or near the strongest in six years as China, India, Japan and South Korea imported more of the polluting fuel in the first five months of this year compared to the same period
DemandThe improved fundamentals during 2017 are clearly seen in the freight rate levels during the first four months of 2018. Freight rates for Handysize, Supramax and Panamax went up by 25-27 percent as compared to the same period of last year. All three sectors moved from loss-making average earnings in the full year of 2017 to a profitable level in first four months of 2018.
American Commercial Barge Line (ACBL) named Mark K. Knoy as its president and chief executive officer in August 2011. Prior to joining ACBL, he was vice president of American Electric Power’s (AEP) Fuel, Emissions and Logistics Group and president of AEP River Operations, having joined AEP with its 2001 purchase of MEMCO Barge Line.
An expansion of oil drilling in the eastern Gulf of Mexico would interfere with U.S. military testing unless the Pentagon and another agency develop rules to govern the work, the U.S. Department of Defense said in a report this week.The Defense Department concluded in a report it sent on Wednesday to U.S.
Oil and gas drillers bid modestly on Gulf of Mexico acreage in the largest lease sale in American history on Wednesday, dealing a setback to the Trump administration's efforts to rapidly pump up investment in the region. The Interior Department had offered up a record 77 million acres (31.
If China does seek a way to retaliate against U.S. proposals to impose import curbs on steel and aluminium, then targeting President Donald Trump's favoured coal would be tempting. One of Trump's key campaign promises in the 2016 election victory was to end the war on what he termed "beautiful, clean" coal. Figures released last week by the U.S.
Chinese seaborne imports of iron ore, coal and crude oil have all grown strongly throughout 2017. Both seaborne imports of crude oil and iron ore have reached the highest levels ever recorded, while coal reached the highest level in three years. Imports of crude oil and coal have benefitted the shipping industry to the greatest extent as both volumes and distances have increased.
The ailing U.S. coal industry is ramping up its political and legal offensive to win approval for West Coast export terminals that could provide a lifeline to lucrative Asia markets. Coal producers filed two recent lawsuits against governments in Washington state and California challenging local decisions to block port projects on environmental grounds.
World coal seaborne trade increased by 1.5 percent last year due to a recovery in output in producer countries such as the United States, Russia and China and an accompanying rise in export activity, German coal importers lobby VDKI said on Friday. VDKI (Verein der Kohlenimporteure), whose 70 member companies trade hard coal across the world, put imports and exports last year at 1.
Over 500 ships waiting to load or unload coal; strong winter demand has driven coal, LNG and oil prices. Asian benchmark thermal coal prices have pushed to their highest levels since 2016, fuelled by demand in China and loading delays in Indonesia that have ramped up shipping congestion outside major coal ports.