Oil Holds Near Four-Year Highs
Oil held just below four-year highs on Thursday, supported by the imminent loss of Iranian supply through U.S. sanctions, but also tempered by the prospect of a rapid production increase from Saudi Arabia and Russia.Brent crude oil futures were down 33 cents at $85.96 a barrel by 1430 GMT, having risen to a late 2014 high of $86.74 on Wednesday. U.S.
Mumbai Port's 2nd Liquid Chemical Berth Inaugurated
Mumbai Port Trust commissioned its second Liquid Chemical Berth at Pir Pau on January 13th 2016. The facility was inaugurated by the Union Minister of Shipping, Road Transport and Highways, Nitin Gadkari. The second Chemical Berth is a modern state-of-the-art facility with four mooring dolphins, equipped with Quick Release Mooring Hooks (QRMH)…
India, Iran Ink Port Deal Despite US Warning about Haste
India reached a deal on Wednesday to develop a strategic port in southeast Iran despite U.S. pressure not to rush into any such trade agreements before world powers clinch a final nuclear accord with Tehran. Shipping Minister Nitin Gadkari and his Iranian counterpart Abbas Ahmad Akhoundi signed a memorandum of understanding to develop the Chabahar Port on the Gulf of Oman…
