Tag: US

Crude oil surpassed hydrocarbon gas liquids (HGL), becoming the largest US petroleum export with 1.8 million barrels per day (b/d) of exports in the first half of 2018, according to EIA. US crude oil exports increased by 787,000 b/d, or almost 80%, from the first half of 2017 to the first half of 2018.

US President Donald Trump signed a revised free trade agreement with South Korea on September 24 in New York. This is the first bilateral trade deal of his administration and includes steps to open up the Korean market to more American exports. It will also allow the US to impose a 25% tariff on Korean trucks until 2041.

According to JPMorgan, oil prices could increase this winter, due to the US sanctions on Iran. Namely, JPMorgan expects the price of a barrel of oil to increase from $60 to $85 a barrel in the next six months, while a 'pike' to $90 is also on the table. These sanctions will become effective on November 4.

US's President Donald Trump signed America's National Cyber Strategy. This strategy states that it will use all available means to keep America safe from cyber threat. As for the maritime sector, it has modernized and it has become more vulnerable to cyber exploitation or attack. So, maritime security is of 'particular concern '.

The Georgia Ports Authority revealed its 10-year, which will cost $2.5 billion, to expand the capacity of Savannah's Port container terminal from 5.5 million twenty-foot equivalent unit containers to 8 million. Work on the Savannah Harbor Expansion Project is expected to be finished in late 2021. 

The American Petroleum Institute released its industry outlook for the third quarter of 2018. The report shows the US achieved another new record for crude oil production of 10.8 million barrels per day over the past two months. However, US petroleum exports decreased by 1.3 million barrels per day since June.

OPEC expects a steady rise in US oil output, as it will gain momentum in the next five years. OPEC also expects the demand for its crude to reduce, in spite of an increasing appetite for energy driven by global economic expansion. The reduction in demand for OPEC crude is due to a strong non-OPEC supply in 2017–2023.

The European Commission has published the latest figures on EU imports of soya beans, showing that the US has become Europe's main supplier of this commodity, reaching a 52% share compared to 25% in in the same period last year.

The Rhode Island Marine Archaeology Project and the Australian National Maritime Museum believe they may have solved one of the greatest maritime mysteries with the discovery of 'HMS Endeavour', the first British ship on a voyage discovery to Australia captained by James Cook.

The Port of Long Beach has been awarded $4,197,480 from the Port Security Grant Program administered by US Department of Homeland Security’s Federal Emergency Management Agency. The funds will be used for security system maintenance, along with expanding and enhancing physical and cyber security capabilities.