1.Damen Yichang Shipyard in China has held a keel-laying ceremony for an LNG bunkering vessel being built for the new energy brand Elenger, formerly known as Eesti Gaas.
2.Brazilian state oil company Petroleo Brasileiro SA is shipping crude during June and July for storage in China to more quickly respond to demand from the country’s independent refiners, two sources with knowledge of the matter said.
3.China, the world’s second-largest liquefied natural gas importer, reported a rise in imports of the chilled fuel during the month of April.During the month of April, China imported a total of 4.54 million tonnes of LNG. This represents a rise of 35.1 percent over the corresponding month last year.
4.Datong Coal Mine Group, the third largest coal miner after CHN Energy and China Coal, saw its coal shipments to buyers in other regions hit a record high during maintenances to Daqin railway, media reported.
5.The United States has warned Hong Kong to be on alert for a vessel carrying Iranian petroleum that may seek to stop in the Asia financial hub, and said that any entity providing services to the vessel will be violating U.S. sanctions.
6.China is seeking to lower domestic coal prices to aid power producers, and has proposed that miners bring the benchmark grade to below 600 yuan ($87) a ton, according to people with knowledge of the matter.
7.European coal prices are set to fall further this week and could slump to a new multi-year low amid concerns about the impact of the China-US trade war.
8.The global business cycle is at a key junction at this point in time, which will dictate oil prices in the near future. Due to global downturn fears, Brent could plunge to $50 a barrel but a US-China trade deal would surprise the market and could lift oil to $90 a barrel, analysts said.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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