France pursues new rules to boost Med LNG imports despite flat PEG gas prices




Paris (Platts)--5Dec2014/738 am EST/1238 GMT


French energy regulator CRE will continue to develop new measures to boost demand for LNG into the PEG Sud gas market despite the recent convergence of PEG Nord and PEG Sud prices, Dominique Jamme, director of gas infrastructure at the regulator, said this week.

CRE expects to make a final decision by the end of this year on new measures which would lengthen the visibility window for short-term delivery slots at the Mediterranean 97 TWh/year Fos Cavaou and 57 TWh/year Fos Tonkin LNG terminals, he told Platts in an interview.

This follows a public consultation held until November 21.

Infrastructure limitations between France's northern and southern grids, high demand for gas toward Spain and dwindling LNG imports,

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Tanker earnings




Impact of oil prices on Teekay’s tanker earnings

Tanker earnings

Brent oil benchmark prices have been the lowest since November 2010. This was 25% lower than levels experienced at the recent peak in July of 2014, mainly due to supply exceeding demand. The dip in prices was caused by surplus of light sweet crude in the Atlantic region and the return of Libyan volumes. Broader industry factors include a continued increase in U.S. shale production and recent downward revisions to global gross domestic product (or GDP) and oil demand. After the Vienna meet, Brent oil prices have dipped to a five-year low of $68.


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Teekay Tankers believes that these lower oil prices are likely to persist in the near term as the Organization of the Petroleum Exporting Countries (or OPEC) appears ready to maintain current production levels and compete on price by lowering its official selling prices (or OSPs



Star Bulk Carriers Corp. Downgraded by Zacks (SBLK)







Star Bulk Carriers Corp. (NASDAQ:SBLK) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a report released on Friday. They currently have a $6.70 target price on the stock. Zacks‘s price target suggests a potential downside of 5.50% from the stock’s previous close.

Star Bulk Carriers Corp. (NASDAQ:SBLK) traded down 1.27% during mid-day trading on Friday, hitting $7.00. The stock had a trading volume of 170,699 shares. Star Bulk Carriers Corp. has a one year low of $6.27 and a one year high of $15.88. The stock’s 50-day moving average is $9.09 and its 200-day moving average is $11.32. The company’smarket

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Double-digit returns long way off, says shipping broker




Double-digit returns long way off, says shipping broker

07 December 2014
Bulkers waiting to load off Dalrymple Bay, Australia. Photo: Southern Cross Maritime

GERMANY: Distressed asset investors and hedge funds chasing ship buying opportunities could be bitterly disappointed even if freight and second-hand markets pick up over the coming years.

Double-digit returns per annum, as targeted by many private equity investors, are likely to remain an absolute exception, according to Germany's Ernst Russ Shipbroker.

Current second-hand price levels for bulk carriers appear to be based on a much less bullish but probably more realistic earnings expectation in the mid single-digit range, the dry cargo and container ship broker points out in its latest monthly Maritime Overview report.

Average prices for five-year old Capesize and

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India to renew exemption granted to vessel sharing pacts of container lines

Globally, vessel sharing agreements seek to improve productivity and frequency of sailings and port calls, improve scheduling through the use of more modern vessels and other equipment, including port facilities. Photo: Bloomberg

India is set to renew the exemption granted to vessel sharing agreements (VSAs) among container shipping lines from the provisions of the country’s antitrust law.

The initial exemption given for a one-year period ends on 10 December.

A meeting held by the government with the stakeholders earlier this month to review the functioning of VSAs took note of the fact that there were no complaints against such agreements during the year-long exemption period.

It did not put barriers for new entities into joining such agreements nor did it adversely impact the existing shipping

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