Shipping needs to make a radical shift to zero carbon energy sources in the coming three decades to reduce the sectors total greenhouse gas emissions by at least 50% of 2008 levels by 2050 – a target set by the

In 2019, many central banks in both developed economies and emerging markets reversed the trends of their monetary policies to be more accommodative. The market turmoil experienced at the end of 2018 and the uncertainties related to the trade dispute

VLCC
A quieter week in the Middle East, alongside falling bunker prices has left owners unable to maintain rate levels. 280,000mt to USG lost around 10 points to WS50 level, while rates for 270,000mt to China weakened 25% to WS85.

2019 was a relatively safe year for shipping in the port of Rotterdam. Over the past year, the number of sea-going vessels arriving was about the same as in 2018: 29,491 compared to 29,476 last year. The number of accidents

The most bountiful petroleum plays in the Middle East may no longer be storied gushers from the past but more technical offshore areas. The most recent hydrocarbon production boom is underway in the Middle East, and this time, the race

In a recently published report, Wood Mackenzie predicts the start of a downcycle in China’s petrochemical industry. A supply overhang has already hit the country’s paraxylene (PX) market, with olefins and polyolefins markets almost certain to face the same.

China is

MISC, Samsung Heavy Industries, Lloyd's Register and MAN Energy Solutions to work collaboratively on addressing shipping's decarbonisation challenge.

MISC Berhad, Samsung Heavy Industries (SHI), Lloyd's Register and MAN Energy Solutions have announced that they will work together on a joint development

The IEA Oil Market Report (OMR) is one of the world’s most authoritative and timely sources of data, forecasts and analysis on the global oil market – including detailed statistics and commentary on oil supply, demand, inventories, prices and refining

Crude Oil Price Movements
The OPEC Reference Basket (ORB) value rose by $3.54, or 5.6%, month-on-month (m-o-m) in December, to average $66.48/b, the highest value since April 2019. Similarly, ICE Brent increased by $2.46, or 3.9%, m-o-m to average $65.17/b,

In its January 2020 Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasts that average U.S. natural gas prices will be 9% lower in 2020 than in 2019. EIA expects lower natural gas prices will be the result