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  • 2008 September 2 06:38

    Saudi Aramco cuts LPG prices for September as crude oil falls

    Saudi Aramco, the largest supplier of liquefied petroleum gas to Asia, cut prices of cargoes loading in September from August after global crude oil benchmarks fell.  The Dhahran, Saudi Arabia-based company reduced the price of propane cargoes by $60, or 7 percent, to $800 a metric ton, said a company official who asked not to be identified. Aramco lowered the price of butane by $50, or 5.6 percent, to $840 a ton.
    Crude oil futures on the New York Mercantile Exchange reached a record $147.27 a barrel on July 11, and since then have dropped more than 19 percent.
    Aramco sells LPG under one-year contracts and as individual cargoes for immediate delivery. The cargoes are sold free-on- board, requiring the buyers to pay for shipping costs.
    LPG, a by-product of oil refining and crude oil and natural gas output, is used for heating, cooking and as a motor fuel. LPG is also used as an alternative to naphtha for processing into petrochemicals.
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2024 October 31

18:00 MAN receives multiple orders for MAN B&W G95ME-LGIM Mk 10.5 methanol engines to power a series of VLCV
17:23 The Marechal Duque de Caxias platform ship starts producing in the pre-salt layer
17:06 IWS Seawalker CSOV makes it 1000 ship designs from Kongsberg Maritime
16:45 “K” Line Wind Service and Japan Marine United sign agreement for Phase 2 of NEDO’s Green Innovation Fund Project
16:04 Wärtsilä introduces its innovative NextDF feature for the Wärtsilä 25DF dual-fuel engine
15:45 MOL plans to change charter contract for vessels related to Russia business
15:44 MABUX: Bunker price trends in the world's four largest hubs, Oct 8 - Nov 1, 2024
15:23 HHLA raises expectations for fiscal year 2024
14:59 Major fire extinguished at UK nuclear submarine yard
14:16 AD Ports Group and Somali Ministry of Fisheries & Blue Economy sign MoU for maritime sector development
13:44 Maersk reports Q3 results
12:43 UECC orders four advanced multi-fuel battery hybrid pure car and truck carriers from China Merchants Jinling Shipyard Nanjing
11:39 Japanese сonsortium produces design concept for eco-friendly VLCC
11:12 TMC Compressors bags contract to supply four LNG carriers
10:46 Panama Canal operating costs down 5% in FY2024
09:29 HIF Global and Antarctica21 promote sustainable tourism with e-Fuels

2024 October 30

18:00 East Java Multipurpose Terminal partners with Sinarmas LDA Usaha Pelabuhan
17:22 Container traffic at Iranian ports up 5% in the first half of the current Iranian calendar year
17:06 CIMC SOE delivers second 7,600 cbm LNG bunkering vessel to Seaspan Energy
16:42 Klaveness Combination Carriers makes first move into wind with bound4blue eSAIL system on CABU III newbuild
16:23 Transport workers' strike in Argentina to affect port operations
15:59 South Korea's seaport container cargo up 3.5 pct in Q3
15:46 Stena Line marks significant milestones in build of NewMax ships, Stena Futura and Stena Connecta
14:55 DNV and LR grant AiP to HD Hyundai Heavy Industries for ammonia duel-fuel large container vessel
14:45 Jiaxing Port adds a new sea-river intermodal operation area
13:32 Maersk signs long-term methanol sourcing deal
13:08 MOL and Pyxis sign Collaboration Agreement for development and market expansion of electric vessels in Singapore and Japan
12:40 AD Ports Group and the General Department of Vietnam Customs sign MoU
12:21 TE H2, CIP, and A.P. Møller Capital Partner for a large-scale project in the Kingdom of Morocco
11:40 ClassNK issues AiP for Autonomous Navigation Assistance System developed by Samsung Heavy Industries
11:20 MacGregor launches Carbon Calculator
10:55 Russian seaports in Q3, 2024: Infographics and Analytics
10:30 World's first ammonia-fuel dual-fuel bulk carrier begins construction
10:09 Erik Thun launches the next-generation Lake Vanern Max vessel
09:03 SCHOTTEL receives an order to supply azimuth thrusters for four new escort tugs for Saltchuk Marine

2024 October 29

18:00 The U.S. Environmental Protection Agency announces selections for nearly $3 bln of investments in Clean Ports
17:34 Asyaport becomes first Turkish port to provide shore power to container ships
17:00 Port of Los Angeles awarded $412 million grant from U.S. EPA for zero-emission transformation
16:42 Oil spill occurred during bunkering operations at the Port of Singapore
16:10 World’s first electric hydrofoil ferry line takes off in Stockholm
15:46 Wallenius Wilhelmsen signs five-year, $766 million deal
15:29 Port of Rotterdam introducеs Geofence system as part of the first phase of the Just-in-Time sailing project
13:50 CMA CGM and Marsa Maroc join forces in a joint venture to equip and operate half of the Nador West Med container terminal
13:22 Container volume in Spanish ports up 9.9% in Q3 2024
12:50 Port Houston container volume up 1% to 329,462 TEUs in September 2024
12:11 ClassNK issues approval in principle for new membrane-type LNG carrier without filling limits
11:40 Maersk and Danone partner to reduce the greenhouse gas emissions of seaborne logistics with ECO Delivery
11:12 SAFEEN Subsea launches unmanned vessel for offshore operations
10:42 ABS explores the potential of nuclear technology on LNG carriers
10:22 SITC’s revenue up 19.2% in Q3 2024
09:45 Hanwha, HD Hyundai vie for Poland’s $2.7b submarine program

2024 October 28

18:08 GTT announces its revenues for the first nine months of 2024
17:39 New Fortress Energy provides update on its initial FLNG asset
17:12 EverWind Fuels awarded $22.5 mln investment from Government of Canada for Clean Port & Green Fuels Hub
16:47 Wan Hai Lines orders eight 16,000 TEU methanol dual-fuelled containerships from Hyundai Samho Heavy Industries and Samsung Heavy Industries
16:24 BASF and AM Green enter MoU to jointly evaluate opportunities in low-carbon chemicals in India
15:59 Guangzhou Shipyard International delivers first of four ro-pax ferries to MSC
14:45 China’s first deep-sea multi-functional scientific research and archaeological vessel completes sea trials
14:24 OMS Group invests in cable-laying vessels to help meet growing global telecommunication demand
13:13 China Classification Society issues AIP Certificate for new ship types of CSSC Huangpu Wenchong Shipbuilding
12:43 Wärtsilä Lifecycle Agreement will optimise performance and reliability of seven Capital Gas LNG carriers
12:12 Panama Canal presents financial results for FY24
11:42 Fincantieri, Vard and Sandock Austral Shipyards form three-way alliance
10:44 APM Terminals Maasvlakte II orders Automated Horizontal Transport System from Konecranes
09:55 PIL and SSES complete the inaugural LNG bunkering of PIL's first LNG-powered container vessel

2024 October 27

15:07 Austal USA kicks off construction of a new manufacturing facility for submarine modules
14:21 OOCL signs charter agreements with Seaspan for six new 13,000 TEU container vessels
13:44 Saipem rig commences second drilling campaign off Namibia after first one yielded oil discoveries
13:08 MSC: Port rotation change - USA to SAEC service
12:14 Strike action is set to resume at Canada’s largest container gateway, Montreal