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Tristar inks second major deal with Shell

Dubai-based oil and gas logistics leader, Tristar Group, has signed firm contracts for six new build 25,000 MT DWT, IMO Type 2 Oil and Chemical Tankers with South Korea's premier shipbuilder, Hyundai Mipo Dockyard. The vessels will be delivered between the middle of May 2020 till the first week of January 2021. The vessels have been ordered on the back of long-term charter contracts with oil major Shell. This follows Tristar's acquisition of six new build, 50,000 MT DWT, MR Tankers from the same yard in 2016, also with long term charters with Shell. "Our business model will continue to...


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Iron ore price crosses $100 on supply issues

Iron ore rallied above $100 a tonne, surging to the highest since 2014, as investors bet that a global supply crunch will spur a scramble for cargoes just as China’s mills push out record volumes of steel. Benchmark spot ore climbed 2.5 per cent to $100.35, according to Mysteel Global. Earlier, most-active futures in Singapore jumped as much as 3.8 per cent, while miners' shares powered ahead, with Fortescue Metals Group Ltd. hitting the highest since 2008. Iron ore has staged a stunning rally in 2019 as supply disruptions in Brazil and Australia, the top shippers, spurred forecasts the seaborne...
17/05/2019

Boeing reported zero new orders for jets in April

Boeing said in a report that not only did the 737 Max receive zero new orders since it was grounded worldwide in March, the company's other jets, such as the 787 Dreamliner or the 777, also did not get any new orders in April. According to the report issued on Tuesday, Boeing did report some orders for the other jets in late March, even in the wake of the March 10 crash of an Ethiopian Airlines jet and the grounding of the 737 MAX that followed, reports CNN. Lufthansa ordered 20 of the 787 jets on March 15, and British...
17/05/2019

Off-the-grid DIY tiny house business wins international sustainability award

ABC Central Victoria By Larissa Romensky A Victorian tiny-house company has won an international award for helping to make cities safer, more resilient and sustainable.Fred's Tiny Houses teaches do-it-yourself builders the ins and outs of design and construction, as well as selling completed dwellings.Founder Fred Schultz found out via social media that he had won a Flourish Prize in the category for Sustainable Cities and Communities for his house design."I just couldn't believe it, little old us, little old Fred's Tiny Houses," Mr Schultz said."I danced around a little bit."He said it remained to be seen what the win meant,...

17/05/2019

Vegan options are everywhere nowadays as restaurants evolve to meat demand

ABC Radio Sydney By Mawunyo Gbogbo Lindsay McDougall had to swear off meat when he joined the punk rock band Frenzal Rhomb in 1996."The singer was vegetarian and he said I wasn't allowed in if I didn't go vegetarian," he said.The current presenter of Drive at ABC Illawarra, McDougall said it showed him the ethical side of the lifestyle, and by 1998 he was a vegan — long before it was a thing."I remember there was maybe two restaurants in Newtown in Sydney that had lots of vegetarian and vegan options, and there were a few restaurants in the city...
17/05/2019

Scepticism takes over markets

Global markets were mostly lower on Friday amid worries that US economic sanctions on Huawei may cast a pall on trade talks with China. Germany's DAX slid 0.6 per cent to 12,238.94 and the CAC 40 in France lost 0.2 per cent to 5,438.23. Britain's FTSE 100 fell 0.1 per cent to 7,348.62. The Euro Stoxx 50 was down 0.4 per cent to 3,424.64. In Asia, the Shanghai composite gave up 2.5 per cent to 2,882.30. Hong Kong's Hang Seng lost 1.2 per cent to 27,946.46 and the A-share index on the smaller market in Shenzhen lost 3.3 per cent....
17/05/2019

London marine insurers widen Middle East threat zone after ship attacks

LONDON: London’s marine insurance market has extended the list of waters deemed high risk to include Oman, the United Arab Emirates and the Gulf after ship attacks off Fujairah, officials said on Friday, in a move that could push up premiums.The London insurance market’s Joint War Committee said in a statement that the additions cover areas of perceived enhanced risk for marine insurers and reflected enhanced regional risk.“The situation will be kept under close review,” said the Joint War Committee, whose guidance influences decisions by underwriters on insurance premiums.Four tankers, comprising Saudi Arabian, UAE and Norwegian-flagged ships, were attacked on...