The first of five Iranian tankers carrying fuel to Venezuela has moored at Venezuela's El Palito refinery, Iran's English-language Press TV reported on Monday.Iran is providing Venezuela with 1.53 million barrels of gasoline and components in a move criticised by U.S. authorities as both nations are under U.S. sanctions, according to the governments, sources and calculations by TankerTrackers.com.
Shipping group CMA CGM has obtained a 1.05 billion euro ($1.1 billion) loan to be 70% guaranteed by the French government as it seeks to bolster its cash position during the coronavirus pandemic, which has hammered international trade.The loan, secured from a consortium of banks comprising BNP Paribas, HSBC and Société Générale
OPEC, Russia and other allies outlined plans on Thursday to cut their oil output by more than a fifth and said they expected the United States and other producers to join in their effort to prop up prices hammered by the coronavirus crisis.But the group, known as OPEC+, said a final agreement was dependent on Mexico signing up to the pact after it balked at the production cuts it was asked to
Leading container shipping firm A.P. Moller-Maersk scrapped its 2020 earnings forecast on Friday, while rival Hapag-Lloyd warned of slowing growth until at least June, as the coronavirus pandemic takes a heavy toll on global tradeThe container shipping industry, a bellwether for international trade, has been blown off course by the new virus
Cost-cutting and price rises will help Maersk deliver higher first-quarter earnings than a year ago, the shipping giant said on Friday, though it scrapped its full-year forecast due to uncertainty caused by the coronavirus pandemic.The Danish company said its guidance on earnings before interest, tax and amortization (EBITDA), previously $5.
Harland and Wolff, the Belfast shipyard that built the Titanic, has been sold by owner Dolphin Drilling to infrastructure specialists InfraStrata for £6 million ($7.3 million), saving the facility from closure, InfraStrata said on Tuesday.Harland and Wolff's multipurpose fabrication facility
The creditors of indebted French marine services company Bourbon reached a restructuring deal that would give them control of the company, protect jobs and draw new liquidity.Bourbon has been hurt by market overcapacity and a fall in spending on services by upstream oil and gas companies, but the deal with its creditors lifted its shares.
Estonian shipping firm Tallink on Tuesday reported a 96% drop in April passenger traffic and 14% drop in cargo traffic as countries around Baltic Sea locked down to limit the spread of the coronavirus.Tallink operates large ferries between Estonia and Finland, and from Latvia, Estonia and Finland to Sweden.
The tanker Maran Gas Vergina has arrived in China with the first delivery of U.S. liquefied natural gas (LNG) in 13 months, shipping data showed on Monday.This is the first shipment since March 2019 after a long-standing trade war in which China raised tariffs on LNG imports from the United States to 25% last year.
GCL Oil& Natural Gas Co Ltd has entered a framework agreement with Royal Dutch Shell to explore setting up a joint venture based in eastern China to market and trade liquefied natural gas (LNG), the privately-owned Chinese company said on Tuesday.The proposed JV would secure LNG supplies from Shell and market the fuel to a receiving terminal which GCL is planning in Jiangsu province
South Africa's main export terminals will be closed to mineral exports from midnight on Thursday when a nationwide 21-day lockdown over coronavirus begins, disrupting copper supply chains linking major producer Zambia to Asian consumers.Miners in the Zambian copper belt typically transport copper overland to South Africa's ports, where it is exported mainly to China
Tensions between Iran and the West have escalated since U.S. sanctions on Iranian oil exports took full effect and British naval forces seized an Iranian supertanker.Below is a timeline of recent incidents:May 2 - The United States, which withdrew from an international nuclear accord between Iran and global powers in 2018