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Dec 22: For reference purposes, the website carries here details of:
8The Petroleum and Natural Gas Regulatory Board (Technical Standards and Specifications including Safety Standards for Retail Outlets dispensing Petroleum, Auto LPG and CNG) Regulations, 2016. Public comments have been invited on these draft regulations
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8With the exception of Aframaxes that witnessed an overall sluggish week, the rest of the crude carriers enjoyed further upside in most key trading routes, signalling a firm market as we move closer to the peak of the winter season. In the VLCC sector there was the sale of the “BW ULAN” (299,325dwt-blt 00, S.Korea), which was sold to Indian owner, Seven Islands, for a price in the region of $23.5m. In the Aframax sector there was the sale of the “AEGEAN PRIDE” (105,302dwt-blt 99, S. Korea), which was sold to Chinese buyers, for a price in the region of $10.6m.
8The immediate risks to the global market are: China's growth may slow by more than we currently expect, resulting in weaker economic demand and a lack of investor appetite for
emerging-market assets. Second, Mr Trump could live up to his campaign promises and implement more protectionist measures which could trigger a global trade war. Nevertheless, the outlook is stronger growth in 2017 but a slowdown in 2018 and by 2019, the US will be hit by the first real recession in a decade.
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