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Puerto Rico’s LNG imports return to pre-hurricane Maria numbers

According to EIA, in 2018 Puerto Rico’s liquefied natural gas imports were pretty close to 2016 annual levels, according to the recently released LNG Annual Report published by the U.S. Department of Energy’s Office of Fossil Energy. Its imports were severely affected by Hurricane Maria in September 2017.

China’s growth to slow down in 2019, 2020 due to global trade tensions

Growth in China is expected to be moderate in the next two years as global growth slows down and trade tensions with the US put pressure on trade and investment, according to the Asian Development Bank. In its Asian Development Outlook 2019, ADB expects GDP growth for the world’s second largest economy to slow to 6.3% in 2019 and 6.1% in 2020. That is below the 6.6% growth rate recorded in 2018. 

How have sanctions against Iran affected insurers

Prof. Dr. Dieter Schwampe, Partner at Arnecke Sibeth Dabelstein, IUMI Professional Partner, talks about the sanctions that are taking place around the world, regarding Iran. The start was made with the termination of the US participation from the Joint Comprehensive Plan of Action (JCPOA), on 5 August 2018, with EU following by publishing the Blocking Regulation.

Stolt-Nielsen to be affected by Houston ship channel fire

London-based Stolt-Nielsen Limited foresees a negative financial impact on its tanker business, because of the fire at Intercontinental Terminals Company’s facility in Houston, which resulted to a chemical spill in the Houston Ship Channel.

Marine Energy Wales launches state of sector report

Marine Energy Wales has released a new report at its annual conference, highlighting that £96.2 million has been invested into the Welsh economy. The ‘State of the Sector’ report is based on the findings of a survey and provides an update on a 2017 report, outlining developments that took place in Welsh waters.

USCG in favor of Commonwealth LNG project

The USCG provided a letter of recommendation to the Federal Energy Regulatory Commission (FERC) March 19, on the Calcasieu Ship Channel’s suitability to support Liquefied Natural Gas marine traffic associated with the proposed Commonwealth LNG project.

Sumas sees highest daily natural gas spot prices in US since 2014

The Sumas trading point on the Canada-Washington border averaged $161.33 per million British thermal units on its natural gas spot prices on March 1. This is the highest daily spot price ever recorded by Natural Gas Intelligence anywhere in the United States in at least five years. The price peak was due to regional supply constraints and unseasonably cold temperatures.

Baleària commits to innovation and sustainable growth

In 2018, Baleària handled 4.320.000 passengers, an increase of 11% and 1.209.000 vehicles, an increase of 17% on its 23 routes with an overall of 1.109.000 on its five international routes. Cargo accounts for half of Baleària’s business, with a growth of 3.5%.

OOIL, JD Logistics invest in COSCO’s Eshipping platform

Hong Kong-based OOIL announced the signing of an investment and cooperation agreement, through its subsidiary Gold Talent, with COSCO Shipping Logistics and JD Logistics, pursuant to which the Parties have agreed to establish a joint venture investing in COSCO’s online logistics platform Eshipping.

Oversupply remains a key challenge for shipping, ICS warns

Speaking in Istanbul, Simon Bennett, Deputy Secretary General of the International Chamber of Shipping (ICS) warned that preventing overcapacity and unsustainably low freight rates continues to be a major challenge ten years after the massive downturn of 2008. Mr. Bennett noted that shipping companies should show restraint when ordering new ships, in order to prevent stifling recovery.

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