GAO report raises questions about Navy's $100 million hydraulic electric drive project A new report from the GAO (U.S. Government Accounting Office) looks at why, after spending over $100 million to develop, test, and produce hydraulic electric drive (HED) systems for its Flight IIA
FERRIES 2020 goes virtual Marine Log's FERRIES 2020 virtual event is ready to kick off next week on November 9-10 from 1 to 4 p.m. EST. The conference will feature a number of expert speakers, a
Concordia Damen wins order for 40 inland waterway tank barges Damen Shipyard Group's specialist inland waterways yard, Concordia Damen in Werkendam, Netherlands, has booked a contract for 40 eco-friendly dual fuel self-propelled tank barges. Ordered by institutional investors advised by J.P. Morgan
Austal Vietnam delivers high speed cat to Trinidad and Tobago operator Austal Limited (ASX:ASB) reports that Austal Vietnam has delivered the first vessel fully constructed at its Vung Tau shipyard - the A.P.T. James, a 94-meter high-speed catamaran built for the National Infrastructure
Tidewater continues to deal with depressed market "We are executing on the plan we laid out on the first quarter call after reassessing our business outlook as a result of the pandemic," said Quintin Kneen, President and CEO of
Biden should be a shipping-friendly president While Donald Trump sees trade negotiations as a zero-sum game, his likely successor has a better understanding of free markets...
Piracy risk heightened as hostages released Two Russian crew, kidnapped from the Seatrade reefer vessel Water Phoenix, have been released after two months
Shipping asked to support seafarers during holiday season With many seafarers working well beyond their contract periods due to the pandemic, and those in ports unable to come...
Danaos doubles time charter rates as they hit nine-year high 'Phenomenal' vessel time charter rates seen as lines seek vessels to keep market share amid post-pandemic recovery
Chemtanker cargo competition rises as product tanker earnings weaken Competition from swing suppliers would not be as steep as in 2018 and 2019, Odfjell cautioned, however competition began to...
September surge puts box volumes in growth territory Global containerised trade was up 2.7% in the third quarter as volumes in September came in higher than last year...
Is the economic turmoil a boon or bane for shipping? Shipping companies should stay vigilant in the face of current strong demand spurred on by burgeoning fiscal deficits that have...
Eagle Bulk eyes further supramax sales as losses widen The US-based owner says that a recovery in supramax rates since a bottom in April is 'indicative of normalising freight...
Gard to hike pricing after $62m interim loss Increases elsewhere in the International Group include 5% at Steamship, 7.5% at West, 10% at Standard, and 'same ball park'...
The Lloyd's List Podcast: Why are so many boxships burning? Containerships are averaging one fire every two weeks so far in 2020, so while we have not seen a Yantian...
Lloyd's List Posidonia Week Forum available on demand Lloyd's List recently hosted a panel of top shipowning names who offered their views and insights on a range of...
The week in charts: Lockdowns unlikely to boost floating storage; record low for general cargo orders As much of Europe locks down to combat infections, our analysis shows that the oil market situation is not as...
Daily Briefing Free to read: Scrubber spread narrows to record on low refinery runs, falling crude price | China-owned vessel with overdue...
China's ban on Australian coal is blow for bulker owners Beijing is believed to have communicated the ban to all Chinese state-owned and private traders. A lack of clarity has...
Wah Kwong joins Hong Kong utility on carbon offsetting Carbon credits will be generated by CLP's wind farms in India and can be purchased on CLP's carbon credits platform. Wah...
Europe's falling oil demand hits Suez Canal tanker transits The reduced need for tankers follows falling demand for oil as European countries impose lockdown measures to ward off the...
Yangzijiang wins $198m containership order The company has done well to gain significant new orders despite the depressed conditions this year and is on track...
FreightWaves Flashback: England gets its orange juice by sea, land and air services 1966: Seventy thousand American gallons of frozen concentrated orange juice were imported into the United Kingdom from Florida in 1965. This quantity represents nearly two...
Can manufacturers escape China's gravitational pull? (with video) A "China+1" or "China+2" strategy makes sense for many reasons, but how much can companies afford to distance themselves from China's manufacturing prowess?
LA box signal spikes and charter rates go 'through the roof' The trans-Pacific capacity crunch continues. Container volume that's either inbound to Los Angeles or stuck at anchorage is surging.
Dutch airfreight wholesaler gets wings Wholesale by Vels sees newly formed Amsterdam-based air cargo consolidation service for freight forwarders taking off during coronavirus pandemic.
Delta Air Lines adds mini-freighter flights to Europe, India Delta is responding to customer willingness to pay good rates for airfreight by adding more cargo-only flights.
Cheniere offering more competitively priced LNG for some US marketing volumes Cheniere Energy is comfortable selling a greater amount of marketing volumes produced at its US LNG export terminals on terms that include a liquefaction fee of $2/MMBtu to $2.50/MMBtu, executives said Nov. 6.
Argentinian oil producer Roch files for bankruptcy on coronavirus impacts Fast-growing Argentina oil producer Roch has filed for bankruptcy protection after domestic and global pandemic-induced lockdowns forced it to slash oil production as low global oil prices cut export revenue.
OIL FUTURES: Crude slides 4% as coronavirus surge weighs on outlooks The oil price settled lower Nov. 6 as demand outlooks dimmed in the face of surging coronavirus infections and the spread of broad lockdowns across Europe.
MARINE FUEL 0.5%S: Limited supplies boost prices, outpace lower than normal demand Global marine fuel crack spreads strengthened across the globe in October on lower refinery runs and limited supplies.
RWE eyes green hydrogen supply deals in the Netherlands RWE has signed a letter of intent with chemical company OCI to supply green hydrogen to its methanol production facility in Delfzijl, the Netherlands, the German power company said Nov 6.
Sempra looking at strategic funding options to support North America LNG plans Sempra Energy is considering unspecified financing and investment options to fund the buildout of its North American LNG export infrastructure plans, company executives said Nov. 5.
ARGENTINA DATA: September refinery runs down 19.6% on year Argentinian refineries' crude oil runs in September were 19.6% lower year on year, with a small rise in fuel oil production but sharp drops in diesel, gasoline and jet fuel output, the state statistics department Indec said late Nov. 5.
ARA fuel oil stocks edge lower on week to 1.351 mil mt: Insights Global Stocks of fuel oil in the Amsterdam-Rotterdam-Antwerp region edged 1.5% lower week on week to 1.351 million mt in the week to Nov. 4, Insights Global data released Nov. 5 showed.
International Seaways capitalizes on strong period tanker market, despite Q4 destocking Crude and products tanker company International Seaways posted a solid third quarter net income of $14 million compared to a net loss of $11 million during Q3, 2019, as the company continued to benefit from strong VLCC time charter contract coverage concluded during March through May, when pandemic oil market economics prompted significant demand for floating storage.
Dutch Vopak's Q3 proportional occupancy rate up on strong oil storage **Outlook for oil storage favorable amid continued crude volatility **Company eyes opportunities with green energy such as hydrogen **Marine fuel storage policy meets expectations
Japan's NYK Line, partners to dissolve JV with new scheme for LNG bunkering **Says group 'will continue to develop LNG fuel market' **Holding company to be wholly-owned subsidiary of NYK
Verbund's Austrian green hydrogen ambitions boosted by Gas Connect acquisition **Acquisition positions Verbund in hydrogen economy **EAG renewables act accelerates transition **H2Future PEM electrolysis project advances
China releases first national emission trade scheme draft rules for consultation **Voluntary CCERs to meet up to 5% compliance obligations **MEE to issue free emission credit initially
TFG Marine starts bunkering operations in areas along US Gulf Coast **TFG Marine scaling up global footprint **Became accredited bunker supplier in Singapore this year
External: Global Risk Management
SINGAPORE DATA: Residue stocks flat at 23.2 mil barrels in week to Nov. 4 "Bunker demand from container ships is firm. Overall total low sulfur bunker demand is steady," said a fuel oil trader based in Singapore.
Biofuels in prime position to deliver on short-term climate goals: Goodfuels CEO "I still think oil majors find that very hard to do we are a little ahead in terms of our product engineering," Kronemeijer said.
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