Cruise line shares rebound on Pfizer vaccine announcement Prices of cruise lines stocks soared on the New York Stock Exchange today as Pfizer Inc. (NYSE: PFE) and BioNTech SE (Nasdaq: BNTX) announced that their mRNA-based vaccine candidate had demonstrated evidence
Golden Ray salvage resumes after cutting chain link breaks Dismantling and removal of the wreck of the capsized car carrier Golden Ray from St. Simons Sound, Ga., continues to prove a challenging task. As we reported earlier (see story), the heavy
Biden election hailed as good for offshore wind The Business Network for Offshore Wind has hailed the election of Joe Biden to be the 46th president of the United States as promising to usher in a renewed focus on renewable
Knutsen BWMS gains USCG Type Approval The Coast Guard Marine Safety Center has issued the 38th U.S. Coast Guard Ballast Water Management System Type Approval Certificate to Knutsen Ballast Water AS after a detailed review of the manufacturer's
New Orleans RTA breaks ground on new Canal Street ferry terminal A two-year development program that will see New Orleans' current Canal Street ferry terminal replaced by a modern ADA compliant facility has kicked off with a groundbreaking ceremony at the present terminal.
Tank solution offers effective way to transport captured carbon With Carbon Capture and Storage (CCS) likely to play an increasing role in combating climate change, there could be a growing market for marine transportation of captured carbon in the form of
Three more robberies from ships off Singapore The Regional Cooperation Agreement on Combating Piracy and Armed Robbery against Ships in Asia (ReCAAP) reports that, in a six hour period, November 8-9, three ships were the subjects of armed robberies
Economou sells Heidmar tanker pool to chief executive Greek shipowner George Economou no longer has any interest in Heidmar, which he had held via his DryShips listed company
Felixstowe turns to former chief as cargo struggles persist Hutchison Ports has persuaded former chief executive Chris Lewis to come out of retirement and take charge just as an...
Suezmax rates lull 'short-term' says Nordic American Tankers Average spot rates have not been above Nordic American's daily operating cost of $8,000 since late August, according to Baltic...
BP charters Cosco newbuilding VLCC for clean trading Three Cosco newbuildings currently trading clean as tanker markets experience protracted weakness
Changing Lanes: EU must use time ahead of CBER review wisely With three more years until Europe's Consortia Block Exemption Regulation is up for review, the commission must use this time...
Stolt-Nielsen ties up with Essberger The joint venture will have an 18% to 20% market share, says Stolt Tankers president Lucas Vos
Brexit seen as 'biggest disruptor' of Irish shipping since 1970s 'There is huge government emphasis on stressing the availability of direct shipping to the Continent. We wouldn't choose to do...
Torm tanker boarded off Benin Italian and Beninese naval forces repelled an attack on the chemical tanker Torm Alexandra off Benin at the weekend. Danish...
The ship has sailed for traditional banking Huge companies such as Microsoft or GM can negotiate preferable rates with banks because of their volume of transactions. If...
Weaker winter forecasts dampen LNG shipping stocks LNG trade is expected to grow only 4.5% next year and this does not bode well for about a dozen...
Grindrod winds up dry bulk venture with Mitsui The Japan-built vessel, which was delivered to its new owner earlier this month, fetched a gross price of $7.85m, company...
Danish freight traffic to UK halted over mutant coronavirus concerns Freight drivers travelling through Denmark and who are not resident in the UK will be refused entry to Britain, while ships...
Daily Briefing Free to read: Biden should be a shipping-friendly president | Is the economic turmoil a boon or bane for shipping...
Concordia seals LNG dual-fuel inland barge deal The vessels' shallow draught capabilities are a key element of this innovative and sustainable inland waterway project, which will see...
CSSC in VLCC joint venture with Rongsheng Petrochemical A market downturn and lack of appetite for orders by traditional shipowners prompts the Chinese shipbuilding giant to establish ties...
Port of NY/NJ strives to keep cargo flowing Partners called on to help ensure the supply chain remains fluid.
Big business bullish on infrastructure in 2021 The U.S. Chamber of Commerce is optimistic for a Phase 4 COVID relief bill signed by the end of the year.
How vaccine and Biden victory will impact shipping The one-two punch of the Pfizer vaccine and Joe Biden's victory will affect container and tanker shipping in multiple ways.
Delta 777 has short-lived run as seatless freighter Delta took pains to remove seats from a large jet so it could carry more cargo - and eight weeks later permanently parked the airplane.
Inland South Carolina ports set record South Carolina Ports Authority gears up for growth with delivery of ship-to-shore cranes.
Air Canada suffers CA$554 million Q3 loss Air Canada revenues came in below expectations, but the company was able to cut costs to beat earnings expectations.
Career Tracks: Sherri Garner Brumbaugh elected ATA chair Garner Transportation Group president and CEO is the second woman to chair the American Trucking Associations.
US ELECTIONS: Biden win brings new approach to energy markets Energy markets and sectors were quick to react to the weekend's news that Joe Biden had been declared winner of the 2020 race to the White House.
Japan's Fuji Oil to boost Oct-March crude runs to about 90% for kerosene demand Japanese refiner Fuji Oil said Nov. 9 it plans to boost its crude run rates to about 90% in the October-March 2021 period, up from 79% in the April-September period as it plans to raise its kerosene output for the heating oil demand season.
Mexico defending Pemex's share in shrinking fuels market: panelists Mexico is aiding the state-owned enterprise Pemex keep its market share in the sale and distribution of fuels, but that market is destined to slowly disappear as global energy transition takes hold, said panelists during a webinar organized by law-firm Mijares-Angoitia.
WAF gasoil weekly imports fall to 9-week low on building supply, lower Nigerian demand The volume of gasoil being imported into Western Africa in the week beginning Nov. 2 fell to a nine-week low as demand dropped due to a build of supply offshore of Lome after a large number of vessels had arrived in previous weeks while demand from Nigeria was lower, sources said.
USGC-Europe middle distillate flows stall at 40,000 mt so far in Nov: cFlow No cargoes of middle distillates have been loaded on the US Gulf Coast to Europe route in the last seven days, keeping scheduled shipments at about 40,000 mt so far in November, S&P Global Platts data showed Nov. 9.
ULSD FOB ARA barges hit 6-week high versus 50 ppm on slight demand increase Ultra low sulfur diesel barges in the Amsterdam Rotterdam Antwerp trading hub hit a 6-week high versus their 50 ppm barge counterparts due to a slightly better demand picture than expected for the former last week, sources said.
Jet paper strengthens on vaccine news even as demand seen staying weak in short term The news that drug maker Pfizer has developed an effective vaccine against the coronavirus could start to hasten the recovery of a brittle jet fuel market, but until the distribution and viability of a large-scale vaccine can be determined, airline travel and as a result jet fuel demand is likely to remain under pressure, traders and analysts told S&P Global Platts.
EMEA light ends: Key market indicators this week The European light ends complex has mostly weakened over the week to Nov. 6 as demand for gasoline and therefore, gasoline blending fell, in Europe amid increasingly restrictive lockdowns.
Asia middle distillates - Key market indicators this week Asian middle distillate markets are expected to be steady to slightly firmer in the week starting Nov. 9 from the week before as gasoil inches closer to a more balanced regional outlook, while forecasts of a colder-than-average winter support the jet fuel/kerosene complex.
OIL FUTURES: Oil prices surge as market eyes COVID-19 vaccine breakthrough Oil futures settled sharply higher Nov. 9 on the back of improved demand outlooks following reports of a breakthrough in COVID-19 vaccine research.
OIL FUTURES: Refined product cracks surge as vaccine news boosts demand outlooks Refined product cracks strengthened Nov. 9 as the entire energy complex moved sharply higher amid reports of a breakthrough in COVID-19 vaccine research.
EMEA middle distillates: Key market indicators this week Flat prices of ICE low-sulfur gasoil futures jumped on Nov. 9, tracking crude futures upwards after news from Pfizer and BioNTech that their COVID-19 vaccine had shown itself to be more than 90% effective in a phase 3 trial.
AMERICAS BUNKERS: Key market indicators this week Spot retail bunkers prices throughout the Americas enter the week of Nov. 8 on an upswing amid support from key energy indicators, while weather and supply fundamentals could continue to impact operations in the short-term for some ports.
Asia crude - Key market indicators this week Crude oil markets in Asia kicked off the week of Nov. 9 rangebound as sentiment firmed after Joe Biden was declared winner of the US presidential election, as well as higher US job numbers and Chinese export numbers, but the COVID-19 pandemic continued to weigh on recovery.
Flow batteries linked to tidal power to produce green hydrogen in Scotland **1.8 MWh vanadium flow battery to store tidal power **To produce green hydrogen via 670 kW electrolyzer
TRADER NOTE: Dan-Bunkering makes two new hires Danish bunker supplier Dan-Bunkering has appointed two more team members, one to its Middelfart office and one to its Copenhagen office.
UK's INEOS launches renewable hydrogen business, targets EU's 2030 strategy **Business based on INOVYN's electrolysis expertise **Looks to build capacity across INEOS sites **Power-to-methanol demo studied in Antwerp
QP Trading wins 10-year deal to supply LNG to Singapore **10-year supply agreement will begin in 2022 **Environmental criteria attached to deal **QP plans to increase LNG production to 126 mil mt/yr
Europe and Africa residual fuel -- key market indicators **Reduced refinery runs limit supply **Feedstocks markets eye European lockdowns, product demand
OIL FUTURES: Crude spikes by more than $3/b on vaccine news **US political developments also bolster price **NOC says Libya producing over 1 million b/d
Russian PM nominates Rushydro CEO Nikolay Shulginov as energy minister Rushydro CEO Nikolay Shulginov nominated as energy minister, with potential implications for Russia's OPEC+ and climate policy.
Russia's Novak set to be promoted to deputy prime minister in cabinet reshuffle: report **Novak leaves Energy Ministry **Next energy minister not yet announced
Concordia Damen inks deal for 40 LNG dual fuel barges to be chartered by Shell Concordia Damen will begin the construction of the tankers in December this year, it said.
Libyan recovery leads OPEC+ October crude output higher: S&P Global Platts survey **Extra UAE cuts boost OPEC+ compliance to 100.2% **Iraq raises production instead of making catch-up cuts **OPEC+ alliance to decide soon on 2021 quotas
Asia residual fuel market - Key market indicators this week **Weaker middle distillates likely to depress straight-run fuel oil demand **HSFO demand spike expected to wane
China's Oct crude imports drop 6.5% on year to 10.1 mil b/d, first fall since Apr The fall in imports, which was within market expectations, is also likely to continue for the rest of 2020.
Singapore Dec-Jan 10 ppm sulfur gasoil spread hits 3-month high on tighter supply An extended period of regional refinery run cuts has tightened supply balances, traders said.
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