Edition:
United States

Keith Wallis

Cheap as ships: Second-hand ship sales reach 10-year high

Dec 21 2017

SINGAPORE Sales of second-hand ships reached a 10-year high on cautious optimism that one of the shipping industry's worst ever downturns is nearing an end.

Ships in a bottleneck: China, Australia ports clogged as coal, iron ore demand soars

Dec 20 2017

SINGAPORE More than 300 large dry cargo ships are having to wait outside Chinese and Australian ports in a maritime traffic jam that spotlights bottlenecks in China's huge and global commodity supply chain as demand peaks this winter.

As OPEC extends output cuts, Asia turns to North America for more oil

Dec 01 2017

SINGAPORE Asian refiners are losing no time reacting to a decision by OPEC and Russia to extend their agreed production cuts to all of 2018, ordering more oil from the Caribbean and Gulf of Mexico in a move that will result in lost OPEC and Russian market share.

As OPEC extends output cuts, Asia turns to North America for more oil

Nov 30 2017

SINGAPORE Asian refiners are losing no time reacting to a decision by OPEC and Russia to extend their agreed production cuts to all of 2018, ordering more oil from the Caribbean and Gulf of Mexico in a move that will result in lost OPEC and Russian market share.

Oil prices fall on uncertainty over OPEC output cuts, pipeline restart

Nov 27 2017

SINGAPORE, Nov 28 Oil prices slipped in early Asian trade on Tuesday amid uncertainty over a possible extension of output cuts by major crude producers and expectations of higher supply as the Keystone pipeline restarts.

In latest sign of crude glut, aging supertankers used to store unsold oil

Jun 15 2017

SINGAPORE Traders are increasingly storing oil in aging supertankers in Southeast Asia as they grapple with a supply overhang that has left the system clogged with unneeded fuel despite an OPEC-led drive to cut production to prop up prices.

Oil prices fall on supply concerns as U.S. rig count rises

Apr 02 2017

SINGAPORE, April 3 Oil futures dipped in early Asian trade on Monday on worries about global oversupply after a higher U.S. rig count pointed to rising U.S. shale production, while a stronger dollar also put pressure on crude.

Container shipping lines ordered to testify in U.S. sector probe

Mar 22 2017

LONDON/SINGAPORE The U.S. Justice Department has ordered top executives from several container shipping lines to testify in an antitrust investigation over practices by an industry that is the backbone of world trade, the companies said on Wednesday.

VLCC rates to fall further as tonnage outweighs cargo demand

Mar 10 2017

SINGAPORE Freight rates for very large crude carriers (VLCCs), which fell to five-month lows this week, are set to drop further as excess tonnage and an absence of port congestion weigh on the market, brokers said.

Crude prices fall on likely U.S. stocks build

Mar 08 2017

SINGAPORE Oil futures fell in Asian trade on Wednesday after industry data pointed to a potential ninth straight week of inventory builds, renewing concerns about an oversupply of oil despite output curbs by OPEC and non-OPEC members.

World News