Wärtsilä introduces compact BOG reliquefaction solution Wärtsilä has introduced a compact solution for reliquefying boil-off gas (BOG) onboard gas carriers and LNG bunker vessels, and for keeping the cargo cool under all operational conditions. Called the Compact Reliq,
Port of Green Bay reports robust June tonnage totals With imports of nearly 110,000 tons of foreign salt and 73,000 tons of limestone, June was a strong month for tonnage moving into and out of the Port of Green Bay Wis.,
Consortium develops Autonomous Guard Vessel concept Offshore wind farms and other offshore structures could soon be protected by Autonomous Guard Vessels (AGV). A consortium of maritime companies has just released a concept design that exploits technology available today
VIDEO: Shell research prioritizes five solutions for shipping decarbonization A report released by Shell today makes it clear that, even as the shipping sector deals with the impact of COVID-19, decarbonization of the industry remains a high priority. The "Decarbonizing Shipping:
Two cruise rivals form expert panel to advise on safe return to operations As the cruise industry struggles to win approval to start sailing again, two major players, Royal Caribbean Group and Norwegian Cruise Line Holdings Ltd., have set up a panel of public health
Dredging giant books contracts worth a total $51.5 million Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD), the largest provider of dredging services in the U.S., reports that it has been awarded recent contracts worth total $51.1 million. The awarded work includes:
EU takes steps to tackle shipping emissions Ships calling at EU ports face a mandatory 40% reduction in carbon intensity and inclusion in the bloc's Emissions Trading...
Uncertainty over Iran gasoline export ships 'Most shipowners have long since decided that Iran is an area they don't want to be involved in. And if...
Crew welfare crisis: Less than a third of seafarers repatriated Measures to grant seafarers key-worker status have failed. There are 300,000 overdue crew to be replaced, with 100,000 already released...
Drugs found in container on Maersk vessel in Mexico Mexican officials seized 102.5 kg of cocaine on the containership Svendborg Maersk at the Port of Manzanillo, according to reports
China LNG imports claw back coronavirus losses Chinese LNG buyers are entering the spot market to pick up distressed cargoes, which likely originate from Nigeria and the...
From the News Desk: US 'stick-and-carrot' approach to sanctions reaps dividends The relatively swift removals of the vessels from the Ofac blacklist will have underlined the upside to co-operating fully with...
IMO needs an ambitious CO2 reduction agreement The International Chamber of Shipping believes an ambitious agreement can be reached in the autumn, provided that governments maintain open...
Seanergy acquires capesize to benefit from hot spot market The $11.4m purchase price for the Japanese-built vessel is being funded by cash, which has been sourced from recent fundraisers
Höegh Xiamen declared a 'total loss' after fire Car carrier is declared a constructive total loss following a fire on board the vessel last month at the Port...
D'Amico sells two of its oldest medium range tankers The sale of the two vessels is expected to generate net cash of $16.3m
Daily Briefing Free to read: Coronavirus impact weighs heavy on China's expansion projects | Ardmore Shipping Rejects Hafina Merger Proposal | Iran...
New operational vessel schedule standard published Box shipping standard adopted in effort to ease collaboration
Shell decarbonisation report calls for 'all hands on deck' Lack of a global regulatory framework and unwillingness from shipping's customers to pay for lower emission solutions are identified at...
Cosco agrees blockchain technology deal with Alibaba The aim is to use blockchain-based technologies to connect data and systems in shipping, ports, logistics and finance among other...
Call to reform dangerous goods shipment rules Inspections find more than 5% of containerised cargoes with misdeclared dangerous goods
Pandemic to accelerate transformation of classification societies IACS is also considering long-term plans when the situation returns to the new normal, Mr Sharma said
PetroChina hires NYK shuttle tanker for Brazilian oil The tanker is owned by Knutsen NYK Offshore Tankers, a 50-50 joint venture between NYK and Norway's TS Shipping Invest
Amazon to build massive Little Rock fulfillment center Amazon will open the 825,000-square-foot facility in 2021, expanding its footprint in the Arkansas market.
Lufthansa Cargo taps 3PL to run Frankfurt hub Lufthansa Airlines is transforming itself into a smaller airline, while its Cargo division settles on a single company to manage its central warehouse.
Are trans-Pacific carriers guilty of price gouging? "Optics" are bad but freight pricing doesn't appear to meet regulatory bar for intervention.
DHL tests 'pop-up' store concept in US Global courier DHL Express parks its first mobile store at a mall in Silver Spring, Maryland, banking on offering convenience to area parcel shippers.
DCSA launches another drive for information sharing Group of nine container carriers has banded together for digital standardization.
American Airlines announces new cargo president American Airlines is downsizing. That means the new cargo president and her team are taking on expanded roles.
Russia's Tuapse ULSD July exports drop 41.6% on month The July ultra low sulfur diesel export program from the Russian Black Sea port of Tuapse is scheduled at 148,000 mt, down 41.6% month on month, according to a copy of the loading schedule seen by S&P Global Platts on July 7.
Brooge Energy CEO says Fujairah has 'no competition' as Oman adds crude storage The UAE's east coast port of Fujairah is more than able to compete when it comes to providing storage space for crude oil producers, just as Oman is planning its program, Brooge Energy CEO Nicolaas Paardenkooper said.
OIL FUTURES: Crude edges lower as virus risks trump tightened supply outlooks Late-session selling pressure left crude futures in the red July 7, as demand concerns stemming from a rising tide of new coronavirus cases overshadowed a tightened supply picture.
Argentina eyes reviving oil, gas projects as demand, output recover Argentina's oil and natural gas demand is starting to recover, encouraging producers to increase output and the government to prepare measures aimed at ramping up exports, Deputy Secretary of Hydrocarbons Juan José Carbajales said.
Brazil refined product sales, utilization rates fall in June: ministry Brazil's refined-product sales and refinery capacity utilization rates tumbled over the past seven days as Latin America's largest economy continued to battle against the coronavirus pandemic while social-distancing measures ease, according to Mines and Energy Ministry data July 7.
OIL FUTURES: Prices edge higher on tightened supply outlook, but coronavirus concerns linger The oil complex edged higher midmorning July 7 amid tightened supply outlooks, but pandemic-related demand concerns continued to cap prices.
EU Parliament panel backs inclusion of shipping in EU carbon market The European Parliament's environment committee July 7 voted in favor of bringing CO2 emissions from the shipping sector into the EU Emissions Trading System.
Libya's NOC warns of irreparable damage to oil sector from blockade Libya's state-owned National Oil Corp. warned July 7 the country's crude oil output could halve in the coming years unless the ongoing blockade on its eastern terminals is lifted soon.
Federal judge denies emergency stay to prevent Dakota Access Pipeline shutdown A federal judge on July 7 denied Energy Transfer's emergency request for a stay to avoid the ordered shutdown of the controversial Dakota Access crude oil pipeline in August.
OPEC+ cuts deeper in June on pressure to boost recovery: Platts survey OPEC slashed its crude output in June to a three-decade low, according to an S&P Global Platts survey, as the bloc and its allies, including Russia, continued their campaign to tighten the market as it emerges from the depths of the coronavirus crisis.
Clean tanker floating storage inquiries rise as appetite returns Fresh floating storage inquiries for clean tankers in recent weeks reflect charterer appetite to take advantage of rock bottom clean tanker rates, though presumptions of potentially cheaper floating storage deals against onshore storage appear short-sighted.
Sales of marine fuel 0.5% in Panama fall in May to lowest level in 2020, high sulfur bunker sales rise Sales of marine fuel 0.5%S and marine gasoil in Panama, a key hub for bunker fuels, continued to decline month on month in May but sales of high sulfur bunkers rose, the most recent data from Panama's Maritime Authority show.
Singapore HSFO viscosity spread at narrowest since mid-April on 380 CST demand Amid a surge in demand and tighter supply of 380 CST high sulfur fuel oil, the Singapore HSFO viscosity spread, measured as the difference between the 180 CST and 380 CST grades, narrowed to a near three-month low at $2.33/mt July 7, S&P Global Platts data showed.
Shift in Mexico's refined products market expected as storage regulation comes into effect New regulations in Mexico requiring an increase in refined products storage capacity could help to shift market share to state-owned Pemex, making it more difficult for smaller companies to compete, according to importers, lawyers and consultants interviewed by S&P Global Platts.
Paper market for Mediterranean ULSD flips into backwardation amid tight physical market The prompt paper structure in the Mediterranean ultra-low sulfur diesel market flipped into backwardation on July 6 for the first time in over two months amid higher demand and tighter supply in the region.
External: Global Risk Management
Platts MOC Singapore HSFO swap trades jump 21% in June HSFO demand surged in June as Middle Eastern countries increased purchases for power plants.
TANKERS: Separate anti-piracy payments shelved as Asia's MR rates hit new lows Most of the owners are currently offering their ships for voyages into East Africa from the Middle East and India, inclusive of the anti-piracy costs.
Cargo cancellations drive steep drop in feedgas demand at US export terminals In July and August, an estimated 80 LNG cargo cancellation are likely to keep pressure on the market.
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