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China MSA: Regulation on data collection for energy consumption of vessels

UK P&I Club advises members that a new regulation on data collection for energy consumption of vessels has been enacted by the Chinese Maritime Safety Administration, which was put forward on January 1, 2019. According to the new regulation, applicable vessels calling at Chinese ports are to submit to the MSA the 'Data Report Format for Energy Consumption of Ships', and providing information on the last voyage, prior to their departure from the port.

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EIA foresees global crude oil prices to gradually increase

According to EIA’s January Short-Term Energy Outlook, the predictions are that global benchmark Brent crude oil is to average $61 per barrel in 2019 and $65/barrel in 2020, experiencing an increase from the end of 2018. Yet, it will remain lower than the 2018 average of $71/b US benchmark West Texas Intermediate (WTI) crude oil prices were $8/b lower than Brent prices in December 2018, and EIA expects this difference to narrow to $4/b in the Q4 of 2019 and during 2020.

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