Construction has started of Shenghong Group’s liquid bulk cargo terminal project in Lianyungang, Jiangsu province, China.
Chinese eastern port of Qingdao and Brazilian oil and gas firm Petrobras have inaugurated a bonded spot crude oil depot at Dongjiakou port area of Qingdao Port.
Petrobras completed its first transhipment operation in a non-owned terminal, at the Açu Petróleo Petroleum Terminal (T-OIL) located in the Açu Port Complex in the north of the state of Rio de Janeiro.
Shipowners and commodity traders are now digesting the impacts of President Donald Trump’s widely anticipated announcement that the US would pull out of the six nation accord reached with Iran in 2015. The 2015 agreement with Iran- officially the “Joint Comprehensive Plan of Action” (JCPOA), with the European Union also a participant, saw a rigorous regime of economic sanctions against Iran rolled back.
An upturn in the tanker market is not seen until the end of 2018 as oversupply and newbuilding orders dog the market.
When the subject turns to infrastructure investment in the States and the potential impacts on deepsea and domestic shipping, the booming energy markets are now receiving increased attention.