Oil Prices Drop on Fears for Japan's Economy

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Oil Prices Drop on Fears for Japan's Economy，[link widoczny dla zalogowanych]
World oil prices are dropping because of fears the earthquake and tsunami in Japan will weaken the country's economy and curtail its demand for oil.Oil recently has been trading at two-year highs. The violent conflict in Libya sharply cut its production and generated fears that the political unrest there could spread to other oil-producing countries in the Middle East，[link widoczny dla zalogowanych], further reducing the world supply.
But those fears were outweighed Tuesday by worries that Japan, the world's third biggest oil importer, would at least in the short term limit its imports. Part of Japan's economy has already stalled as the country copes with the vast damage from last Friday's earthquake and tsunami and attempts to contain radiation leaks at some of its nuclear reactors.
Major Japanese industrial operations have already shut down. Sony, the country's biggest consumer electronics exporter, has stopped operations at 10 factories，[link widoczny dla zalogowanych], while Toyota，[link widoczny dla zalogowanych], the world's biggest automaker, has closed all of its plants.
The benchmark price for Brent crude oil on the London market fell to about $108 a barrel, down sharply from recent trading that had pushed the price close to $120. In New York，[link widoczny dla zalogowanych], the price for U.S. crude dropped below the recent $100-per-barrel mark to the $97 range.Analysts said Japan's oil imports could expand again as the country starts to clean up the damage and rebuilds the northeastern sector of the country that was swept away by the tsunami.
New sea satellite system helps South Africans combat piracy
In order to combat piracy and to improve maritime safety, South African authorities have begun using a sophisticated navigation satellite system, it was announced on Tuesday.Piracy, especially by Somalis，[link widoczny dla zalogowanych], has been increasing along Africa east coast in recent years. The South African Press Association (SAPA) reported on Tuesday that Karl Otto, head of the South African Maritime Safety Authority (SAMSA) announced the surveillance tool at a conference in Durban.
Called Long Range Identification and Tracking (LRIT), the system monitors and tracks vessels in waters south of the equator.Otto said the introduction of the LRIT followed concerns over the safety of seafarers, the safety standards of ships within South African waters.Otto said there were high levels of cargo at risk，[link widoczny dla zalogowanych], such as fuels and oils.
He said reasons for installing the system included the number of shipwrecks along the South African coast, and the threat of pollution of the marine environment by ships."It also serves as a mechanism to prevent piracy."
Otto said the satellite system has the capacity to identify and track vessels up to 1，[link widoczny dla zalogowanych],000 nautical miles (1,850 km) from the South African coastline as well as South African-flagged vessels anywhere in the world."This is a revolutionary development in the security of our seas," he said.SAMSA was determined to protect South Africa's seafarers, its coastline and the marine environment，[link widoczny dla zalogowanych], Otto said.
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