Category Archives: General News

India: Iron ore imports jump multi-fold to 5.63 MT in Apr-Nov, FY15

Iron ore imports have increased sharply to 5.63 million tonnes in 2014-15 till November as against 0.37 million tonnes in previous financial year, the government said today. “The import of iron ore has increased from 0.37 million tonnes (MT) in … Continue reading

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Oil market will weaken once supporting factors fade: Barclays

Oil market is set to weaken further when the factors that support the prices fade, according to Barclays. The fundamental oversupply in the market will weigh in once these factors ease, Barclays added. As per a Barclays report, Oil markets … Continue reading

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India’s Feb Iran oil imports fall to lowest since July 2013

India slashed its Iranian oil imports in February to a 1-1/2-year low to keep annual volumes from Tehran near the previous fiscal year’s levels and within the limits allowed under a deal aimed at curtailing the OPEC nation’s nuclear programme. … Continue reading

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Traders expect Saudi Arabia to raise Apr crude oil OSP for Asian buyers

Saudi Arabia is widely expected to raise its official selling price for crude oil loading in April for Asian buyers in line with a stronger Dubai market structure as improving margins for refiners underpin spot differentials, traders said Monday. “Definitely … Continue reading

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Asian imports of Iranian crude fall nearly 22 pct

Asian imports of Iranian crude fell nearly 22 percent from a year ago to below 1 million\ barrels per day (bpd) in January, led by cuts in India, where refiners had been asked to curtail orders ahead of a visit … Continue reading

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Oil May Fall Again Says Analyst Who Predicted ’09 Rebound

Oil prices could drop again later this year as a supply glut persists, according to Jason Kenney, a Banco Santander SA analyst who accurately predicted a rebound in prices after the 2008 slump. The current oil shock caused by the … Continue reading

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U.S. gas exporters eye Baltic region, Poland as Asian LNG boom fades

U.S. LNG exporters are looking to Europe’s tiny Baltic states and Poland to sign buyers keen to cut their reliance on Russian supplies as hopes have faded that Asian demand for cheap North American natural gas will fire another sales … Continue reading

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China’s oil demand grew by just 1.1% in 2014

Oil demand grows by only 1.1% overall – Crude imports driven by SPR needs – Products imports down by 43% – gasoline exports down, gasoil and jet up – Oil consumption to grow by 4.1% in 2015 – Gasoil exports … Continue reading

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Indian coal imports set to rise despite higher domestic output: govt

Indian coal imports are set to rise even though domestic production is increasing, according to the pre-budget Economic Survey 2014-15, which was presented to parliament Friday by Finance Minister Arun Jaitley. India imported 137.6 million mt of coal in April-November … Continue reading

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China’s Coal Consumption Falls 2.9%

China’s coal consumption and production in 2014 fell from a year earlier, marking the first decline in 14 years as Beijing tries to pivot the world’s largest energy consumer toward a long-term reduction in coal dependence. Data from the National … Continue reading

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OPEC’s February oil supply hits lowest since June on Iraq-survey

OPEC’s oil supply has fallen this month as bad weather delayed exports from Iraq’s southern ports, a Reuters survey found on Friday, slowing an expansion of supplies in the group’s second-largest producer. The survey also found slightly higher output in … Continue reading

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Vale Posts Quarterly Loss Amid Declining Iron-Ore Prices

Vale SA, the world’s largest iron-ore producer, reported a second consecutive quarterly loss as prices fell and Brazil’s weakening currency increased debt costs. Vale’s fourth-quarter net loss narrowed to $1.85 billion, or 36 cents a share, from a record loss … Continue reading

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Europe’s crude steel drops marginally in Jan 2015

According to the recent data published by the World Steel Association (World steel), the crude steel production by EU-28 countries slipped marginally by 1.1% during the month of Jan ‘15 year-on-year. The highest output during December was achieved by Germany. … Continue reading

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Moody’s: Slowing Chinese demand will increase operating challenges for Asian steel companies

Moody’s Investors Service says that Asian steel companies face increasing operating challenges in 2015, as Chinese steel demand slows. Moody’s could change its outlook on the Asian steel sector to negative from stable if this weakness persists. Moody’s last changed … Continue reading

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India’s iron ore exports declined sharply during Jan-Oct 2014

The Indian exports of iron ore saw huge decline during the initial ten-month period in 2014, indicates the latest statistics released by Indian Trade and Commerce Ministry. The iron ore exports from the country fell sharply by 26.2% during the … Continue reading

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Rio Tinto and BHP Billiton to drive iron ore costs down by another 25%

Iron ore heavyweights BHP Billiton and Rio Tinto could hammer production costs to less than $US15 a tonne within 18 months, as BHP chief Andrew Mackenzie warned this week that depressed iron ore prices are here to stay. BHP had … Continue reading

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Crude Oil: Abundance wins over depletion theory

In 2008, Canadian economist Jeff Rubin stunned the oil market with a bold prediction: With the world economy growing at 5 percent a year, oil demand would grow with it, outpacing supply, thus lifting the oil price from $147 to … Continue reading

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Are low oil prices here to stay?

Predicting the oil price is a bit of a mug’s game. There are simply too many variables involved to make any kind of meaningful, definitive forecast. What we do know is that, despite a recent upturn, the price of oil … Continue reading

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Indian oil products demand gains strength led by LPG, gasoline, petcoke

India’s oil products demand has grown 3.8% year on year in the first 10 months of fiscal 2014-2015 (April-March) to 136.26 million mt, compared with a growth rate of 1.8% in fiscal 2013-2014, latest data from the Petroleum Planning and … Continue reading

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KPI Bridge Oil appoints Jesper Sorensen as Sales Manager for its Singapore office

KPI Bridge Oil, a leading global broker and trader in marine bunkers, marine lubricants and risk management products, has promoted Mr. Jesper Sørensen to Sales Manager at its Singapore office. Jesper has been with the company for 10 years, working … Continue reading

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Iron ore can’t go back to the future to annual pricing: Russell

Iron ore should go back to the future and reinstate annual contract pricing, according a former executive of top miner Rio Tinto. He’s wrong. Mal Randall, who spent more than 25 years at Rio Tinto and also helped set up … Continue reading

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Saudi may hike Petroleum exports to maximise market share: Barclays

There is an increasing likelihood that Saudi Arabia could increase its petroleum exports (crude and refined) by 0.5mb/d to 1mb/d from H2 15 to 2016 to maximize market share and revenues in a low-price environment, as per a report by … Continue reading

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“Meet In India- Meet The World”

Dry Bulk cargoes such as Coal, Iron Ore, Fertilizers etc. play a very crucial role in a country’s economic development. The Shipping Tribune is pleased to announce “India Dry Bulk Cargo Summit 2015″ A One Day Conference on 5th June 2015 … Continue reading

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Another Big Reason to Think Oil Prices Aren’t Going Up Soon

Oil just had its first weekly decline in a month, breaking a rally in crude prices. A bit of context: After what’s happened over the last year, “rally” seems a bit of an overstatement. Oil ‘Rally’ One big factor that … Continue reading

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