US oil market collapses with WTI dropping below $0 a barrel

West Texas Intermediate (WTI) oil prices collapsed by almost 100%  and have gone negative in a record low for the US benchmark. Vanishing demand and a glut of supply have combined to heavily impact the US benchmark fuel, with prices dropping from $18.27 to close at -$37.63 a barrel on Monday – down over 300 percent from the […]

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US DOT gives nearly $20 million in grants to 24 small shipyards

The U.S. Department of Transportation’s Maritime Administration (MARAD) today awarded $19.6 million in discretionary grants to 24 U.S. small shipyards through the Small Shipyard Grant Program. The funding will help modernize America’s small shipyards, making them more efficient in constructing commercial vessels. “This $19.6 million federal government investment in the nation’s small shipyards will help […]

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Ascott provides safe rooms for those unable to travel home

Ascott has stepped up to provide a home away from home for healthcare workers, returning nationals, guests who are affected by border closures or city lockdowns, migrant workers and others who have been stranded due to COVID-19. Mr Kevin Goh, Chief Executive Officer, Lodging, CapitaLand Group and Chief Executive Officer, The Ascott Limited, said: “In […]

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