The contango in oil markets — when the future price is higher than the spot price — is so steep that floating storage economics have never been so favourable
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The Brazilian mining giant Vale has cut its iron ore production forecast for 2020 by 25m to 30m tonnes given additional safety measures to limit the impact of the spread of coronavirus
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The impact of the pandemic-driven economic slowdown will hit trade volumes. Europe’s largest port complex expects to take its share of the pain
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While the year started off promisingly for owners that had bet on scrubbers, with a wide spread between the more expensive very low sulphur fuel oil and high-sulphur fuel oil, surpassing $300 per tonne in January, that narrowed sharply as oil prices
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The world’s top bunkering hub booked an increase in its March marine fuel sales as cargo flowing through its port expanded during the same month. The rise in fuel demand was driven by China normalising economic activity, which came to a standstill am
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Weakening global oil demand due to the coronavirus pandemic and production cuts by the Organization of Petroleum Exporting Countries is likely to keep downwards pressure on tanker charter rates throughout this year
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Efforts directed at maintaining a now decades-long bunkering licensing scheme and rolling out a mass-flow meter bunkering regime have paid off. Singapore has smashed its own record in 2017 and is luring bunker volumes away from smaller ports
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A wave of bad loans may begin to unfold in the next three to six months. Shipping companies will be forced to sell off assets to stay afloat if the economic situation does not improve. The risk appetite of Chinese lessors has also decreased this year
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