Page 120 - Intelligence Limited News Today

A robust opening to the quarter was tapered by Opec+ production cuts, DHT says, although the rates fell to lows that were still historically high. Rates have recently rallied, and while average earnings this quarter so far are still below the third quarter, the remaining days will likely be fixed at levels that will see improved results in the fourth quarter

Iran’s oil exports remained strong in October but dipped below 1.5m bpd for the first time since July. Tehran’s backing of Hamas has spurred more US legislation to target its oil exports, with one such bill clearing the House of Representatives on Friday

Number of fixtures has picked up considerably however charter periods are strictly on a short-term basis

MSC’s bid for 49% of Hamburg’s terminal operator has moved a step closer after HHLA’s board recommend shareholders accept the offer, which would mean MSC and the City of Hamburg adding $481m in extra equity capital

China’s relatively abundant human capital and investments compared with its foreign rivals are said to be partly why it has gained a pole position in this market

Ardmore Shipping posted strong third-quarter earnings and said the EU’s embargo on refined products bodes well for the market. It expects inefficiencies created by the EU ETS will help TCE rates 

Industry disquiet grows over Panama’s plans to deal with canal crisis | China dominates surge for dual-fuel tonnage | Containership charter rates trending downwards but demand rising for larger ships

Lois Zabrocky-led International Seaways sails to another strong quarter, reporting earnings per share of $1.99, above Jefferies’ expectations of $1.75 and consensus of $1.66 amid higher spot revenues for its suezmax and medium range tankers

Drought-induced delays and restrictions in the Panama Canal have angered shipowners who are incensed by increased costs, but no sign of infrastructure plans to mitigate climate risks

With the three acquisitions, ONE has established a presence at key strategic locations — US west coast, Northern Europe, and Southeast Asia through its stake in Singapore’s Magenta Terminal