Japan’s K-Line Convicted Of Cartel Conduct By Australian Court

by Niyati Shetty (Reuters) Japanese shipping firm Kawasaki Kisen Kaisha Ltd (K-Line) was convicted of criminal cartel conduct and ordered to pay a A$34.5 million ($23.50 million) fine by a federal court, Australia’s competition regulator said on Friday. K-Line’s fine is the largest ever criminal penalty imposed under the Competition and Consumer Act, according to the … [Read more...]

Australia Reaches for LNG Crown as $200 Billion Boom Ends

By Stephen Stapczynski (Bloomberg) --Australia started the last in a $200 billion wave of natural gas mega-projects, setting it on course to become world’s top exporter of the fuel. Royal Dutch Shell Plc said Tuesday its Prelude floating liquefied natural gas terminal offshore northern Australia shipped its first cargo. It’s the eighth Australian plant to start since 2012 by … [Read more...]

Prelude FLNG Ships First Gas

The long-awaited first shipment of liquefied natural gas has sailed from Shell's massive Prelude FLNG facility that is now permanently moored off the coast of Western Australia. Shell announced Tuesday that the first shipment of LNG departed Prelude aboard the LNG carrier Valencia Knutsen destined for customers in Asia. The Prelude FLNG facility is operated by Shell in … [Read more...]

Australia’s Heavy-Sweet Crudes Surge Ahead of IMO 2020

By Florence Tan SINGAPORE (Reuters) - Prices for Australian heavy-sweet crude grades are rising as traders snap up cargoes for blending ahead of new rules on shipping fuel, putting them among the most expensive crudes in the world. The high premiums are benefiting producers such as BHP Group , Santos Ltd and Inpex Corp, which sell grades such as Pyrenees and Van Gogh … [Read more...]

World’s Largest Iron Ore Port Expects Higher Exports Post Vale

By Krystal Chia (Bloomberg) -- With a market facing a global deficit that was unforeseen at the start of the year, the world’s biggest iron ore export port is flagging a timely boost in shipments as Fortescue Metals Group Ltd. and rivals bring on new mines in Australia’s remote Pilbara region. The projected shortfall comes in the wake of Vale SA’s January dam … [Read more...]