Aker Arctic to design next generation Swedish and Finnish Baltic escort icebreakers Finland's Aker Arctic Technology Inc. has signed a contract with the Swedish Maritime Administration (SMA) and the Finnish Transport Infrastructure Agency (FTIA) to develop new icebreakers for demanding Baltic Sea escort operations.
Are "atomic batteries" the path to shipping decarbonization? Nuclear power could be in commercial maritime's future, not its past. Even as MARAD continues the long-running decommissioning of the world's first nuclear merchant ship, the NS Savannah, London-based Core Power (UK)
Royal Arctic Line saves fuel with intelligent IoT technology Greenland's Royal Arctic Line is seeing fuel savings of 10% to 15% on its containership Malik Arctica following installation of the Frugal Propulsion intelligent engine management system developed by Aalborg, Denmark, based
Capital eyes trio of panamax boxships Greek owner is in discussions for multi-year charters that could make the ships eligible for dropdown to Nasdaq-listed affiliate Capital...
From the News Desk: Shipping back on front line of migrant crisis A dramatic incident off the UK coastline involving stowaways and the British special forces once again highlighted how commercial shipping...
Piracy headlines don't tell full Gulf of Guinea story, says analyst Concerns about the increasing threat of Gulf of Guinea piracy must be viewed in context, says Risk Intelligence senior analyst...
English insolvency law seen as 'real alternative' to Chapter 11 'As an English insolvency lawyer, it's probably one of the more exciting times at the moment ... Basically, if the...
Analysis raises doubts over IMO's emissions measures New report finds that proposed energy efficiency requirements for existing ships being considered by the IMO would not cut CO2...
Navios Containers expects surge in rates to 'moderate' US-listed owner locks in strong one-year rates for five boxships
Greece gets nine bids for Igoumenitsa port Thessaloniki Port Authority eyes expansion with interest in three Greek port privatisations currently under way
Maersk-backed decarbonisation research group names board The Maersk chief executive Søren Skou is officially the chairman of the Maersk Mc-Kinney Moller Centre for Zero Carbon Shipping...
New orders for general cargo carriers at record low Orders for new general cargoships will hit an all-time low in 2020 and deliveries over the next five years will...
Box demand picture clouded as economics enters uncharted waters Box carriers are riding a wave of strong demand and high freight rates on the transpacific. But the bounce back...
UK holds stowaways amid ongoing investigation Home Office says investigations continue, but it would be 'inappropriate' to comment further
US Gulf crude exports defy poor post-pandemic prognosis Monthly tonne-mile demand is tracked at its second-highest level in September as European and Asian refineries keep buying
Box shipping's surprise year ignites new interest in fleet renewal Despite the precarious nature of the global economy, container lines are more confident that demand has stabilised. Now they are...
Shipping on thin ice: Russia's northern sea route Melting Arctic ice has long tempted shipping with its potential to slash travel times, costs and emissions between Europe and...
Daily Briefing Free to read: Floating storage economics fail to lift tankers for pandemic's second wave | More work to be done...
Panama Canal congestion adds to LNG tonnage crunch Shipping rates may well advance but not for long as overcapacity will weigh down the market when newbuildings enter soon...
Intercargo calls out charterers preventing crew changes Charterers are not only ignoring relevant provisions and charterparty clauses that could provide for crew changes to take place, but...
Petredec orders up to six LPG-fuelled VLGCs The three firm 93,000 cu m LPG carriers are scheduled to be delivered in January, March and May 2023. If Petredec...
Shipping 'behind the curve' on diversity and inclusion The report revealed that just 7.5% of total seafarers were female even though 30% of companies employ women in board-level...
Major shareholder drops Kirby entirely, despite optimism Baillie Gifford & Co once owned more than 10% of the tug and barge owner
Cruise majors delay return to sailing past 2020 amid CDC guide Cruise Line International Association's 50 owner members are also holding off until next year
Braemar drives digital shift with launch of dry freight derivatives screen Shipbroker raises stake in tech oufit Zuma and pledges not to repeat the mistakes of past screens.
Foremost bulker tangled in $6.6m charter row over China coal import quota The ship's registered owner is moving to arrest a ship for security
Foremost missing out on bulker after Australian coal import snafu The ship's registered owner is moving to arrest a ship for security
Knutsen scoops PGNiG charters to back LNG newbuilding duo Hyundai Heavy nets contract for vessels that will support Poland's imports from US
Sweden, Finland and Aker Arctic team up on next generation ice-breakers Design will need to consider fossil-free propulsion options due to long life of working vessels
Chunky boxship fixtures boost rates to highest level in 12 years Owners begin to secure long periods as rates hit levels not seen since the financial crisis
Concordia says lowest orderbook for 25 years 'really exciting' After tougher third quarter, tanker owner is optimistic for 2021
European Parliament votes to phase out open-loop scrubbers Environment Committee decides against outright ban in consideration of investment and ongoing studies
Crew on UK-flagged ships to receive full pay if held captive by pirates UK is one of the first countries to adopt the new amendments to the Maritime Labour Convention into national law
Scrubber-fitted VLCCs fixed at lower period rates amid depressed tanker market mood DHT and Global Energy Maritime vessels have been put on short charters, brokers report
How to avoid becoming a drugs dope: use smart charter terms CJC lawyers Ian Short and Sam Jones warn new trafficking methods could leave owners and charterers vulnerable to claims
Norway sues DNV GL for $1.6bn over frigate sunk in tanker clash Class society rejects claim relating to certificate for naval vessel that went down in 2018
Altera wins $12m claim over FPSO contractual dispute as it cuts net losses Former Teekay shuttle tanker company reduces loss mainly through unrealised derivative value increases
Cloudy waters: Green group claims IMO emissions cut figures do not add up Technical analysis suggests that proposed efficiency standards for existing ships need to be tightened further
Isle of Man is first flag to join Getting to Zero Coalition Ship registry believes flags have important role to play in decarbonisation
Portugal's Portline continues to sell off older bulk carriers Confirms sale of two vintage supramaxes
Stena Bulk renews period charters for two Wisby-Gotland MRs Swedish operator has been one of the few active charterers in the tanker market
Holed and listing livestock carrier brought into Australia Authorities had concerns for integrity of Barkly Pearl
Scorpio Bulkers sells ships while its investors send shares into downwind spiral After big drop in stock price, Scorpio insiders' group steps up to expand interest in transitioning company
Wisdom Marine makes move into LPG with Japanese order Taiwanese bulker specialist orders small gas carrier at Murakami Hide
Ocean Yield brings in Danske Bank's shipping head after falling to loss Third quarter result turns red due to write offs of OSV and FPSO's book value
S'Hail Shipping adds biggest ship as bulkers regain ground Qatar owner says it has bought a Japanese-built kamsarmax, its eighth ship
Case for marine loss prevention based around AI comes of age The time is right for marine insurance to partner key shipowners and AI providers
Knutsen OAS linked to newbuild order for PGNiG LNG carrier duo Hyundai Heavy nets contract for vessels that will support Poland's imports from US
Berge Bulk recruits industry veteran as new technical director Singapore shipowner adds engine and turbocharger expert to senior leadership team in city state
Singapore looks to renew confidence in commodities in wake of scandals Minister says the 'isolated cases of mismanagement' had 'reduced confidence amongst banks' to provide financing
Berge Bulk recruit industry veteran as new technical director Singapore shipowner adds engine and turbocharger expert to senior leadership team in city state
Trio of Xihe product tankers find buyers as sell-off continues Product carriers among vessels that Xihe Holdings' judicial manager has put up for sale
Six more Xihe Holdings tankers are put up for sale Second tranche of vessels for sale but more to come
Petredec inks deal at Jiangnan for up to six LPG-fuelled VLGCs Gas carrier owner turns to favoured Chinese yard for a pioneering size in very large LPG carriers
Shipping firms employ too few female seafarers, says ICS Trade group has called for more female representation at sea in its first diversity report
Matson's China service boosts earnings amid Covid downturn CLX and CLX+ offerings account for 125% jump on China boxship revenue
Space companies could join US Civil Reserve Air Fleet The U.S. military relies on its own cargo aircraft and commercial operators to move personnel and equipment around the world. Rockets could do that in...
COVID supply chain disruptions reinforce 'China+1' strategy China still holds the title of the world's manufacturing floor, but business challenges are leading more companies to source production in other countries.
Matson offers inside glimpse of trans-Pacific pandemonium U.S.-listed carrier reveals the latest on trans-Pacific holiday rush, restocking, e-commerce spike and port congestion.
How truckers can avoid a bad dray day A half-dozen basic tips on what drayage truck drivers must consider when picking up a container chassis from a pool.
Overnight deliveries, contract carriage propel Cargojet's Q3 growth Cargojet's record airfreight volume helped adjusted earnings double in the third quarter.
ENDER DATA: Vietnam's Nghi Son offers 27,000 mt LSFO for H2 Nov Vietnam's Nghi Son offers 27,000 mt LSFO for H2 Nov.
Open interest for Singapore MF 0.5%S futures traded on ICE hits a high in Oct Open interest for the Singapore low sulfur fuel oil forward curve contract on the Intercontinental Exchange hit a monthly high in October, data from the exchange showed Nov. 3.
OPEC+ may consider deeper oil cuts if coronavirus lockdowns squeeze global economy: sources Cloudy global economic prospects, along with a recent slide in oil prices, could prompt OPEC and its allies to ratchet back their production cuts to historic levels, sources told S&P Global Platts Nov. 3, as the market's recovery stalls.
Iraq to alter crude export grades in 2021 with launch of Basrah Medium Iraq is planning an overhaul to its key crude export grades next year with the introduction of a new medium sour crude known as Basrah Medium.
Singapore 180 CST HSFO differential slumps on heavy selling after Pakistan cancels prompt tender The FOB Singapore 180 CST high sulfur fuel oil cash differential recorded its largest day-on-day fall of $5.05/mt on Nov. 2, the largest daily decline in six months, on heavy selling, after Pakistan cancelled its buy tender for a prompt 180 CST HSFO cargo.
Singapore-delivered IFO 380 CST bunker premium hikes to three-month high on rising inquiries The delivered Singapore IFO 380 CST 3.5% sulfur bunker premium against the Singapore 380 CST HSFO cargo values rose to a three-month high on Nov. 2, S&P Global Platts data showed, amid a surge in inquiries.
USGC Nov middle distillate flows to Europe at 40,000 mt so far, amid strong US market: cFlow US Gulf Coast middle distillate shipments expected to arrive into Europe in November are scheduled at around just 40,000 mt so far, after October saw the lowest volumes in five months, S&P Global Platts data showed Nov. 3.
RUSSIA DATA: Oct refining throughput down 11.2% on year at 21.42 mil mt Russian refineries processed 21.420 million mt (about 5.04 million b/d) of crude in October, down 11.2% year on year and down 1.4% from September, according to energy ministry data released Nov. 3.
BRAZIL DATA: Crude exports fall on year in September Brazilian crude oil exports fell 2.9% year on year in September, marking the first decline in eight months amid signs of a recovery in domestic demand and higher refinery capacity utilization rates by state-led oil company Petrobras, according to data released Nov. 3 by the National Petroleum Agency, or ANP.
BRAZIL DATA: Sep refined-product sales up 3% on month, but down 1% on year Brazil's refined-product sales posted an eighth-consecutive month of year-on-year decline in September amid an ongoing battle to contain the coronavirus outbreak, according to data released Nov. 3 by the National Petroleum Agency, or ANP.
OIL FUTURES: Crude rally extends as market eyes US election, OPEC+ supply extension Oil futures settled higher Nov. 3 as US dollar strength flagged amid market expectations of a fiscal stimulus package after the US presidential election.
European fuel oil paper volumes in October MOC down 47% on month **Med-North trades fall on month **Uncertainty hangs over market
France's Engie pulls out of talks for US LNG import deal with NextDecade: company **Engie came under pressure not to import US shale gas **NextDecade seeking buyers for Rio Grande LNG project **Environmentalists say US LNG not aligned with climate goals
October fuel oil barge volumes traded in Platts London MOC rise 25% on month **Bunker demand resilient **Reduced refinery runs
Russia's Tuapse Nov. VGO loadings flat on month at 120,000 mt **Lower refinery output supports values **Risk of future downstream bearishness
Newbuild ships must accommodate future emissions goals **Emerging regulation risks to affect ship valuations **Ships must be built with future adaptions in mind
October CPC loadings up 8% on month to 1.23 mil b/d **Shipments down 12.5% on year **Kazakh shipments up 15% on month
Australia's maritime union urges government to nationalize BP's Kwinana refinery **Australia likely to become more import reliant after refinery closure **Risky to rely solely on foreign vessels for shipments **Proposes for local seafarers to be crew of Australian-flagged tankers
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