News / A leaner and meaner Zim looks like sailing into calmer financial waters

first_imgBy Mike Wackett 01/04/2015 From APL to Zim – ocean freight carriers which publish financial results have now done so for the full-year 2014, or nine months ending 31 March.2014 proved a better-than-expected year, in terms of volumes, for carriers serving the Asia-Europe tradelane. It saw North European imports increase by 8.2%, compared with the previous year, and vessel utilisation levels average 96.6%, according to Drewry data.But on the transpacific route, carriers suffered significant costs from vessel delays and the chartering of extra vessels when the US west coast ports were blighted by congestion and industrial strife.Elsewhere, the cascading of ships to accommodate the ‘new normal’ 13,000+ teu ships plying Asia-Europe triggered downward pressure on freight rates. Bigger ships struggled to keep pace with tumbling freight rates, against a backdrop of slow market growth. The carrier financials have provided a mixture of good (Maersk, CMA CGM and OOCL), bad (APL, MOL) and ugly (Hapag-Lloyd). But almost the last to report, Israeli carrier Zim, joined the ranks of “improving, but must do better”, which include CSCL, COSCO, Evergreen, Hanjin, HMM and Yang Ming.Zim, which completed its painful $3.4bn debt restructuring in July last year, including a $1.4bn debt-to-equity swap for many of its creditors, improved its bottom line significantly, recording a net loss of $127m in 2014, in comparison with the $213m of red ink in 2013.Moreover, in the final three months of the year, Zim would have moved into the black with a net profit of $17m but for an accounting provision of $21m for the revaluation of fuel hedging transactions.The company carried 2,360,000 teu in 2014, a 6% decrease on the previous year, due, it said, to the termination of its liner service from Asia to North Europe.Nevertheless, Zim operated a number of ad-hoc sailings to North Europe after it had officially withdrawn from the trade, taking advantage of the abundance of cargo on offer prior to the end-year slack season.Total revenue in 2014 equated to $3.4bn, compared with $3.7bn the year before, but differing from most of its peers, Zim actually increased its average rate per teu by 2% to $1,243 over the year, with its average rate for Q4 at $1,271 per teu.The “termination of non-profitable lines” is a core feature of Zim’s new business plan, as is its opportunism, which it demonstrated by organising ad-hoc sailings from Asia to the US east coast in the earlier part of the year.In providing inducement sailings to US east coast ports, Zim benefited from the desire of Asian shippers to reach a reliable, congestion-free American gateway. These customers were reportedly prepared to pay double the normal west coast freight rate.Much of this revenue will feature in Zim’s 2015 first-quarter result and, in combination with lower bunker costs, should provide a foundation for further improvement in the carrier’s profitability.last_img read more

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‘I’m proud of everyone’ – Lam

first_img “We executed it nicely and it was the perfect person to get it to – Harry Thacker. It’s five tries in two weeks and I’m proud for Harry.“I’m pleased for Harry and Jordan Crane, they’re ex-Leicester boys who have come here and really committed to what we are trying to do here at Bristol.”Bristol bears captain and No. 8 Jordan Crane said: “The last three weeks we have been close but not got the win. It was important to get an 80-minute performance today and I think we got that.“When Leicester are coming to town they’re going to be physical and challenge the boys to see where we’re at. I thought we delivered all over the park today. I thought we were the most physical team out there and it showed on the scoreboard.”Bristol Bears welcome La Rochelle to Ashton Gate on Saturday, 8th December (3pm KO). Purchase tickets by clicking here. “We talk about what we do during the week and we know the work we have been putting in. For the boys to get their reward [today] I’m pleased for them.” Pat Lam, head coach Bristol were aided by Kyle Eastmond’s 25th-minute sending off but controlled proceedings throughout, as Thacker took his tally to five tries in two games against his former club.And Lam was pleased with his side’s execution against a physical Tigers outfit.“I’m extremely proud of everyone – the staff, the players, the whole squad,” he said.“We talk about what we do during the week and we know the work we have been putting in. We have been unlucky with some of the results we have had, and we know we are better then, where we currently sit in the table. For the boys to get their reward [today] I’m pleased for them.“The boys came out ready, we got off to a great start and scored a great try with a set piece move we have been working on. last_img read more

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Liquefied natural gas supply is unreliable for California

first_imgFor many years, promoters of liquefied natural gas have billed their pet projects as a reliable new potential source of energy for California.So far, they’ve been stymied in all their efforts to build receiving and rewarming facilities in California for the subfreezing liquid gas they’d like to import from Indonesia, Malaysia, Australia and elsewhere.But no one in California could prevent San Diego-based Sempra Energy from building an LNG plant on the west coast of Baja California, Mexico, just north of Ensenada. About half the gas coming through that facility is earmarked for use in Mexico, mainly to help fuel the many maquiladora factories near the border.Sempra, parent company of both the Southern California Gas Co. and San Diego Gas & Electric Co., wants to bring much of the rest into California and last summer won permission from state authorities to extend its North Baja pipeline to a point near El Centro, from which gas could enter existing lines for use in California and Arizona. AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREWhicker: Clemson demonstrates that it’s tough to knock out the champThe basis of all this is an assumption of reliability. If California is to give up some of its existing supply of domestic natural gas, as the state Public Utilities Commission has authorized, and replace it with LNG, the fleets of tankers needed to bring LNG here must never stop churning. Gas being pumped from underground and undersea sources must keep coming here.But it turns out that very basic assumption is not assured for about half of the supply due to come to Sempra’s Mexican facility. Half that gas will be supplied by Shell Oil Co., a full partner with Sempra in the project. But the other half is to come from a facility known as Tangguh on the Indonesian portion of the island of Papua-New Guinea.Tangguh, says Sempra, is “owned by BP (the former British Petroleum) and others.” Tangguh, adds Sempra spokesman Art Larson, “has the right to divert a portion of the cargoes to another market so long as they continue to pay our costs as described in the contract.”Turns out one of those “others” co-owning Tangguh is the Japan Oil, Gas and Minerals Natural Corp., whose mission is to “secure a stable supply of oil (and) natural gas to Japan ” That Japanese government agency can compel Tangguh to ship its supplies to Japan instead of any contracted buyer, including Sempra. Sempra, as it reports, would be compensated in any such preemption.So Tangguh’s LNG will be a reliable source of income for Sempra, but not even Sempra is willing to call it a reliable source of energy for California. In an exchange of e-mails over several days inviting Larson and Sempra to explain why their LNG should be considered a reliable source of energy for California, he consistently refused any direct response. “Sempra Energy companies have been providing reliable energy . . . for more than a century,” Larson said, never mentioning that during almost all that time the Sempra companies were involved solely in getting energy for Californians and distributing it to them, rather than in speculative ventures like LNG plants. “When a contract calling for the reliable provision of natural gas from Baja California . . . is in place, we will be happy to discuss the facts,” Larson continued in a remarkable message admitting there is not yet such a contract.Meanwhile, the Shell portion of the gas flowing to Mexico will come from Sakhalin, the large Russian island just north of Japan. That supply, of course, will be only as stable as Russian politics allow.So now the question of whether to allow California to become dependent on this highly questionable energy supply ought to go back to the Public Utilities Commission, which already made one half-baked decision when it granted permission for California utilities to give up some of their reserved space on the El Paso and Transwestern pipelines bringing gas from Texas, Oklahoma and Colorado. The federal Energy Information Agency has said once any part of the gas that flows here through those lines is diverted elsewhere (like gas-hungry New England), it will never come back here.It’s easy enough to see why a company like Sempra would push for California authorities like the PUC to allow LNG supplies in. After all, Sempra gets paid regardless of whether any gas comes here. For the company, it’s plainly a win/win situation.But it’s hard to see why the PUC and others would accede to the firm’s LNG blandishments without far greater assurances of reliability than Sempra is willing or able to provide.Which means it’s high time for that commission to revisit its four-year-old decision on giving up pipeline space. Failure to reverse that decision will mean the PUC has abdicated its basic responsibility of making sure California always gets the energy it needs, and at a fair price.Thomas D. Elias is a syndicated columnist who covers California issues (e-mail: [email protected]).160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!last_img read more

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SA landscape display takes root in UK

first_imgThe main entrance of the British Museum peeks over a display of Strelitzia reginae, the bird-of-paradise flower. The South Africa landscape takes shape. (Images: Kew) MEDIA CONTACTS • Steve RuddyKew head of garden development+44 20 8332 5000RELATED ARTICLES • Kew shows Africa’s plant wealth • SA scientists find plant barcode • Adopt a tree in Africa • World honour for SA botanistJanine ErasmusA recreated South African landscape, on show at the British Museum until October 2010, is giving Londoners a taste of the country’s rich biodiversity, and expats a taste of home.A joint project of the museum and the Royal Botanic Gardens at Kew, the landscape is designed as a celebration of South Africa’s wealth of natural treasures. It coincides with the International Year of Biodiversity as well as the 2010 Fifa World Cup, which gets underway in Johannesburg in just under one month.The two institutions are aiming to promote understanding and respect for various cultures, and to heighten awareness of the need for biodiversity conservation around the world.The exhibit – which has a desert-like feel with sand, rocks and plants adapted for arid conditions – has been set up in the forecourt of the renowned historical and cultural institution and runs throughout the European summer, from the end of April until 10 October.Sponsored by Barclays, it’s open from 9h30 to 17h30 every day, and is free.Visitors will be able to wander among the indigenous plants and trees before moving inside and learning more about the country through the museum’s extensive South African and African galleries.Indigenous plantsAll plants and trees included in the display are native to South Africa.Highlights are the magnificent bird-of-paradise flower (Strelitzia reginae) – popular in flower arrangements, the prolific and dainty blue marguerite daisy (Felicia amelloides), and the quiver tree (Aloe dichotoma) – which grows in dry areas of South Africa and is favoured by the San Bushmen as quivers for their arrows.Other inclusions are the strange-looking bottle tree (Pachypodium lealii), the elephant’s foot yam (Dioscerea elephantipes), the mountain aloe (Aloe marlothii), hop bush (Dodonaea viscosa), red hot poker (Kniphofia caulescens), sweet thorn (Acacia karroo), and the cheerful yellow “Star of the Veldt” (Osteospermum hyoseroides), also a member of the daisy family.These curiosities are interspersed with a colourful display of popular South African plants, such as the African lily or agapanthus, the pelargonium or South Africa geranium – not to be confused with flowers of the geranium genus – and the prolific grower Carpobrotus, popularly known as sour fig. This plant has bright pink flowers and succulent triangle-shaped leaves, whose juice has a multitude of medicinal uses.Selected related items, such as rock art recreations and restios, which are part of the fynbos kingdom along with proteas and ericas, are scattered among the foliage.Careful planningKew’s Garden Development Unit head, Steve Ruddy, supervised the installation. All plants were shipped with the necessary permits and were sourced with the help of nurseries in South Africa. They underwent a strict examination to eliminate the risk of transporting insects or diseases, and were then wrapped with great care before being shipped to the UK in a temperature-controlled container.The journey by sea took a little less than the anticipated three weeks and the plants arrived in late March. Landscaping, which began on 29 March, took four weeks to complete.While construction was still underway, the UK weather threatened to turn frosty, forcing botanical staff to protect the ill-adapted plants with a cover of fleecy cloth.Once the landscape is dismantled, the plants will be given to the council of Camden, the London borough where the British Museum is located, to be planted in the area. Kew, meanwhile, will take in any specimens that may not survive the notoriously gloomy UK winter.A number of events have been planned to add value to the exhibition, including talks by Kew and British Museum experts on rock art, traditional uses of plants, conservation and more.African plant wealthEarlier in 2010 Kew reported that East and tropical Southern Africa were treasure troves of the botanical world, yielding more new species in 2009 than anywhere else. Of the 292 new species, two were discovered in South Africa. The greatest number – 67 – came from Tanzania.The botanical institution has a number of projects running in Southern Africa, with the cooperation of partners in the region. These include the Millennium Seed Bank project – which is helping to save endangered plants in South Africa, Botswana and Namibia by conserving seed, ongoing research into propagation of threatened plants, and a database of South Africa plant DNA.One of Kew’s most significant projects is one based near Grahamstown in the Eastern Cape province, which is promoting the sustainable use of plants for traditional purposes such as medicine, clothing, food and craft.The communities in this area have been hard hit by HIV/Aids and the demand for traditional medicine, to complement antiretroviral treatment, is high. Careful management of resources will ensure that there are enough plants to meet the needs of every patient.last_img read more

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Line-ups: Brescia v Inter

first_imgInter start Romelu Lukaku and Lautaro Martinez again, but bring back Kwadwo Asamoah, while Brescia have Mario Balotelli and Alfredo Donnarumma with a new goalkeeper. It kicks off at the Stadio Rigamonti at 20.00 GMT. You can follow all the build-up and action as it happens from this game and Parma-Verona on the LIVEBLOG. Antonio Conte’s Nerazzurri missed the opportunity to close on leaders Juventus, as both teams were held to draws at the weekend by Parma and Lecce respectively. The coach complained that he had very few options available to him following an injury crisis, as Stefano Sensi, Alexis Sanchez, Matias Vecino and Danilo D’Ambrosio are still out of action. It means there is no rest for Lukaku and Lautaro, while Roberto Gagliardini again takes the midfield slot. Asamoah returns after a knee issue to take the left flank from Cristiano Biraghi, while Diego Godin completes the defence. Brescia boss Eugenio Corini is already under pressure, with reports Cesare Prandelli is being lined up to replace him just months after taking the team to the Serie B title. He has more problems to deal with, because goalkeeper Jesse Joronen suffered a knock against Genoa and is not even in the squad, so 31-year-old former Inter shot-stopper Enrico Alfonso has to make his career Serie A debut. Leonardo Morosini has also been left out, apparently in a technical decision, with Jhon Chancellor, Ernesto Torregrossa, Luca Tremolada, Giangiacomo Magnani, Federico Viviani and Daniele Dessena injured. Alfredo Donnarumma returns to the starting XI with star man Balotelli, who so far has only one goal to his name in the Rondinelle jersey. The trequartista role seems to be scrapped, moving to a 3-5-2 formation this evening that mirrors Inter, with 21-year-old Massimiliano Mangraviti brought in. Inter could win their first five away games of the Serie A season, something this club only achieved in 1966-67, 1997-98 and 2012-13. Brescia: Alfonso; Mangraviti, Cistana, Gastaldello; Sabelli, Bisoli, Tonali, Romulo, Mateju; A Donnarumma, Balotelli Brescia bench: Andrenacci, Ndoj, Spalek, Zmrhal, Aye, Matri, Martella, Semprini Inter: Handanovic; Godin, De Vrij, Skriniar; Candreva, Gagliardini, Brozovic, Barella, Asamoah; R Lukaku, Lautaro Martinez Inter bench: Padelli, Berni, Ranocchia, Politano, Lazaro, Borja Valero, Dimarco, Esposito, Biraghi, Bastoni Ref: Fabbri Watch Serie A live in the UK on Premier Sports for just £11.99 per month including live LaLiga, Eredivisie, Scottish Cup Football and more. Visit: https://subscribe.premiersports.tv/last_img read more

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DeRozan scores 37 as Raptors top Jazz; Nuggets nip Heat

first_imgMRT 7 on track for partial opening in 2021 Toronto went 3-3 on its Western Conference road swing.A game after an “embarrassing performance” in a 129-111 loss to Denver, according to Toronto coach Dwane Casey, the Raptors repeatedly got into the lane and found open shooters. They led 99-87 after Norman Powell’s 3-pointer midway through the fourth.FEATURED STORIESSPORTSSEA Games: Biñan football stadium stands out in preparedness, completionSPORTSPrivate companies step in to help SEA Games hostingSPORTSBoxers Pacquiao, Petecio torchbearers for SEA Games openingFrom there, the Raptors let DeRozan go to work on isolation plays that resulted in six straight points as they put the game out of reach.Rookie guard Donovan Mitchell followed his career-high 28 points on Wednesday with 25 to lead the Jazz. Rodney Hood added 17 points but had another rough shooting night, going 6 for 19. Hotel says PH coach apologized for ‘kikiam for breakfast’ claim After 30 years, Johnlu Koa still doing ‘hard-to-make’ quality breads Malditas save PH from shutout MOST READ LATEST STORIES Toronto Raptors guard DeMar DeRozan, right, looks to pass the ball as Denver Nuggets guard Gary Harris defends in the second half of an NBA basketball game Wednesday, Nov. 1, 2017, in Denver. The Nuggets won 129-111. (AP Photo/David Zalubowski)SALT LAKE CITY — DeMar DeRozan scored a season-high 37 points and the Toronto Raptors finished their longest road trip of the season Friday night with a 109-100 victory over the Utah Jazz.DeRozan made all 14 of his free throws and added a trio of 3-pointers to complement his trademark mid-range offensive game. His 17 third-quarter points helped stake the Raptors to a lead they never relinquished in handing the Jazz their first loss in six home games.ADVERTISEMENT Palace: Robredo back to ‘groping with a blind vision’ Robredo: True leaders perform well despite having ‘uninspiring’ boss PLAY LIST 02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Gamescenter_img FIFA suspend Peru striker Guerrero for failing doping test Ethel Booba on hotel’s clarification that ‘kikiam’ is ‘chicken sausage’: ‘Kung di pa pansinin, baka isipin nila ok lang’ Powell matched his season high with 15 points and Kyle Lowery also had 15 for Toronto.The Jazz are stocked with defensive stoppers, but no one could slow DeRozan in the third quarter. He extended his usual range to beyond the arc and scored in a variety of ways to give the Raptors an 89-82 lead entering the final period.Toronto shot 54 percent and didn’t seem fazed by shot blocker Rudy Gobert or the NBA’s second-stingiest defense.In Denver, Paul Millsap had 27 points, including three straight free throws with 11.9 seconds remaining, and the Denver Nuggets topped the Miami Heat 95-94 on Friday night.Nikola Jokic added 19 points and 14 rebounds as the Nuggets shook off some late struggles at the line to win their second straight on a six-game homestand.ADVERTISEMENT The Fatted Calf and Ayutthaya: New restos worth the drive to Tagaytay ‘A complete lie:’ Drilon refutes ‘blabbermouth’ Salo’s claims View comments Don’t miss out on the latest news and information. Millsap delivered at a key moment. After missing three of his previous four foul shots, the Nuggets’ big offseason acquisition was fouled at the 3-point line by James Johnson and sunk each of his free throws, delighting a lively crowd at the Pepsi Center.Dion Waiters nearly won it for Miami on the other end with a 3-pointer that rattled in and out in the final second.Goran Dragic scored 23 points for the Heat. Waiters and Johnson each had 15.Denver didn’t have a lead until midway through the third quarter when Jokic swished a short jumper to make 65-63. The Nuggets kept the lead until late in the fourth.In the final minute, Waiters had a driving layup with 30 seconds remaining and Dragic made 1 of 2 from the line to give the Heat a 94-92 lead.Sports Related Videospowered by AdSparcRead Nextlast_img read more

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a month agoSolskjaer: Man Utd rebuild no quick-fix. Rome wasn’t built in a day

first_imgSolskjaer: Man Utd rebuild no quick-fix. Rome wasn’t built in a dayby Paul Vegasa month agoSend to a friendShare the loveManchester United boss Ole Gunnar Solskjaer has called for patience as he continues the rebuilding process.A concerning start to the campaign has seen United take just six points from their first eight Premier League games, while the club haven’t won the title since 2013. Solskjaer told Sky Sports: “It’s not like the situation we had last year. There’s no lack of desire there. “For us it’s about building a new culture, building a new team, bringing everybody together. Is it the job I expected? Yes. I never said this was going to be a quick-fix job. It’s step after step after step. “Of course, we’ve hit a few bumps in the road, I never said this was going to be a quick-fix job. Rome wasn’t built in a day. “We need time, and the attitude of the boys has been great. [We must] keep working on improving the understanding and relationships between all players, and the style we want to play.” About the authorPaul VegasShare the loveHave your saylast_img read more

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Best year ever for BC Ferries vehicle traffic foot traffic also surges

first_imgVICTORIA – BC Ferries’ year-end results show vehicle traffic was higher than ever last year, resulting in consolidated net earnings of $59.9 million.The company says in a news release that fiscal 2018 also had the highest level of passenger traffic in two decades.Ferries president Mark Collins says the strong fiscal performance helps the company increase service, invest in new vessels and terminal infrastructure, offer discounts and minimize borrowing.The release says BC Ferries provided 1,190 more round trips compared with the year before in an effort to keep up with stronger demand.In April, the fares of most routes, with the exception of the three Metro Vancouver to Vancouver Island runs, were reduced by 15 per cent and seniors are again allowed to travel for free Monday to Thursday.BC Ferries announced last week that it would remove a fuel rebate starting June 27 because of high fuel prices on the world market.last_img read more

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Enbridge Inc reports improved secondquarter earnings amid asset sales

first_imgCALGARY – Pipeline operator Enbridge Inc. reports better-than-expected second-quarter earnings of $1.07 billion, as it worked to sell a number of non-core assets to help eliminate debt.The Calgary-based company’s profit amounted to 63 cents per share and compared with $919 million, or 56 cents per share in the second quarter of 2017. Both quarters included the impact of a number of unusual items.Adjusted earnings came in at 65 cents per share, up from 41 cents in the year-earlier period and beating analysts expectations for 53 cents per share, according to Thomson Reuters Eikon.During the quarter, the company announced agreements to sell $7.5 billion worth of non-core assets, significantly above its original $3 billion target.Enbridge said in May it would gain nearly $3.2 billion by selling renewable power facilities and natural gas gathering and processing assets in the United States.It also received positive news on its Line 3 replacement project, with a Minnesota regulator approving its plan.The company says it is on track to achieve its 2018 guidance and expects about $7 billion worth of new projects to be introduced over the course of 2018, the majority of which will come on line in the second half of the year.last_img read more

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Easing pipeline congestion lets Western Canada producers enjoy higher oil prices

first_imgCALGARY, A.B.  – Canadian oil producers are pocketing higher profits as a rise in world oil prices meshes with an improving supply-demand balance that has reduced the price discounts they faced earlier this year.Analysts say temporary shutdowns at Alberta oilsands projects for scheduled maintenance this spring have eased the pipeline congestion that had been exacerbating the difference between bitumen-blend Western Canadian Select and New York-traded West Texas Intermediate crude prices.That means the oil producers, some of whom cut back output in the first quarter because of poor prices, are seeing benefits from WTI prices that rose to three-and-a-half-year highs above US$71 per barrel this week following U.S. President Donald Trump’s decision to withdraw from the Iran nuclear deal. “The rally in WTI has some fundamental support and is not all related to Iran and Venezuela,” energy analyst Randy Ollenberger of BMO Capital Markets pointed out in an email on Friday.“Demand is clearly improving … A further drop in Venezuela production is also a real possibility that could provide a further boost to prices.”Iran is the third-largest producer of crude within the Organization of the Petroleum Exporting Countries, exporting about 2.6 million barrels per day in April. Prices rose this week on speculation that its exports could be interrupted if sanctions are reapplied by the West.Global oil prices are also being supported by factors including sliding heavy oil production from Venezuela, which is wracked by political instability, and strong adherence to production limits from OPEC and Russia under their 2016 agreement, said Kevin Birn, vice-president of the North American crude oil markets for IHS Markit.“Western Canadian producers, any higher price is unambiguously good for them,” he said.“The situation on pipelines has temporarily been resolved, primarily because of the upstream outages and (maintenance) turnarounds going on, which is allowing the system to clear… and hopefully allowing time for rail to come in.” (THE CANADIAN PRESS)center_img Uncertainty continues to plague proposed new pipelines. The Keystone XL project from Alberta to Texas has been delayed, the future of an expanded Trans Mountain line to Vancouver is in doubt and a routing dispute has emerged over Enbridge Inc.’s Line 3 export pipeline replacement project.Birn said the WCS-WTI discount, which closed at US$19.73 on Thursday, narrowed to an average of about US$12 per barrel last year due to demand in North America for heavy oil but rose quickly after November due to pipeline constraints. It peaked at about US$30 per barrel in the first quarter.The discount is expected to return to more typical levels of about US$15 _ accounting for the difference in quality versus WTI and transport to market _ this spring but will likely rise to US$17-$19 per barrel later in the year because of the higher price of shipping crude by rail, he said.Ollenberger agreed the discount will rise in the second half of the year, noting that new production from Suncor Energy Inc.’s Fort Hills oilsands mine as it ramps up to its 194,000-barrels-per-day capacity will be added to existing oilsands output as the maintenance shutdowns end.last_img read more

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