Fincantieri to suspend production at its Italian shipyards Shipbuilding giant Fincantieri is to suspend production at its Italian facilities from March 16 until March 29. The move is in response both to ever-stricter Italian Government measures and to trade union
NTSB reports on towing vessel contact with much-struck bridge The National Transportation Safety Board has issued its report on a March 10, 2019 incident in which the towing vessel Rivers Wilson, with eight crewmembers and pushing six loaded barges, contacted the
CLIA cruise lines suspend operations from U.S. ports for 30 days CLIA -the Cruise Line Industry International Association - announced yesterday that its ocean-going cruise lines will be voluntarily and temporarily suspending cruise ship operations from U.S. ports of call for 30 days
More cruise lines suspend sailings More cruise lines have followed Carnival Corporation's Princess Brand in announcing suspensions of sailings. They include Royal Caribbean Cruise Line which said today that, beginning midnight tonight, it will pause its fleet's
FMC Commissioner notes pick-up in trans-Pacific trades In a statement on the impact of the coronavirus on the maritime industry, Federal Maritime Commissioner Carl Bentzel notes that, in response to its effects on Chinese manufacturing and logistics services, ocean
Maryland Pilots order new launch from Gladding-Hearn The Association of Maryland Pilots has ordered its fourth Chesapeake Class launch from Gladding-Hearn Shipbuilding, Duclos Corporation, Somerset, Mass. Delivery is scheduled for December 2020. Since the Chesapeake Class pilot boat was
AWO releases COVID-19 contingency planning guide As the novel coronavirus continues to spread in the United States and globally, AWO has produced a COVID-19 planning guide as a resource to assist waterways operators in developing and implementing a
OSG completes Alaska Tanker Company acquisition Overseas Shipholding Group, Inc. (NYSE: OSG) reports that its subsidiaries have completed the purchase of three U.S.-flagged crude oil carrier vessels, the Alaskan Explorer, Alaskan Legend, and Alaskan Navigator from BP Oil
Autonomous tug trialed in Port of Singapore Wärtsilä and Singapore harbor and terminal towage operator PSA Marine (Pte) Ltd. have successfully completed initial sea trials for the "IntelliTug" project (see earlier story). The PSA Polaris, a harbor tug owned
New date set for CMA Shipping 2020 The organizers of CMA Shipping 2020 have set new dates for the event, in light of the coronavirus outbreak. "Our primary concern is the health and safety of the attendees, but we
ClassNK grants AiP for concept vessel fueled by reformed LPG Classification society ClassNK has granted an Approval in Principle (AiP) to Daihatsu Diesel for its concept design of a coastal LPG carrier fueled by LPG reformed gas. The concept vessel was developed
Saudis in record-breaking tanker charter exceeding $370,000 daily Tanker rates are now rising at levels not seen since the Iraqi tanker wars in the 1980s, and have even...
Sovcomflot eyes strong tanker market in 2020 Profits soar in 2019 amid stronger charter markets and the company's view is the momentum can continue in 2020
The week in charts: China's containership calls back to normal and tanker rates soar Port calls at China's two main container ports are returning to the same levels seen a year ago, while the...
Box lines face $17bn revenue shortfall as demand slumps Efforts to prevent the spread of coronavirus are set to push down demand for containerised goods this year
Jotun launches proactive biofouling removal technology Technology claimed to reduce ship emissions, cut the transmission of invasive species, increase hull performance and lower fuel consumption was...
Coronavirus highlights digital's role in driving tomorrow's safety outcomes While no one has the playbook for the coronavirus outbreak, industries are learning and adapting to this new reality on...
Coronavirus: Governments must let shipping keep on shipping Shipping is the lifeblood of the global economy. Precautions and risk mitigation are, of course essential, but an ill-considered, media-driven...
Surge in air cargo as shippers seek alternatives to blanked sailings A shortage of available container slots and cancellation of passenger flights is pushing up air cargo demand
IMO interpreter diagnosed with coronavirus The IMO closed its headquarters until Monday and warned visitors to stay away
The Lloyd's List Podcast: Tankers, toilet rolls and scuppered scrubber economics Panic buying seems to be the trend of the moment, whether you're stockpiling bathroom essentials amid coronavirus concerns, or making...
The Interview: Rodolphe Saade Rodolphe Saadé probably thought that he knew what to expect when he stepped into the top job at CMA CGM...
Daily Briefing Free to read: Greek shipowners lead lucrative VLCC charter market | China ship calls return to previous levels | Singapore...
Dry bulk players rethink their approach to speed Panamax, supramax and handysize speeds all declined during the first weeks of 2020, but have since rebounded
Japan's SMTB endorses Poseidon Principles Signatories to the Poseidon Principles now represent more than $150bn in loans to international shipping, making up over a third...
European gas hub price may hit new lows amid plunging LNG demand fears More liquefied natural gas cargoes may head to Europe with demand expansion in Asia likely to fall short following the...
US imposes sanctions on Russian firm, but offers to lift them from Swedish company Ofac appears to have assured specialty products refiner Nynas, which is a 50:50 joint venture between Finland's Neste Oil and...
PIL confirms disposal of feeder unit The offloading of Pacific Direct Line was already disclosed in a Alphaliner newsletter last week
US sees highest-ever crude oil exports in 2019 despite trade war US crude oil exports to China, the third-largest export destination in 2018, fell by nearly 100,000 barrels per day to...
US tightens sanctions lasso on Rosneft operations handling Venezuelan oil The Office of Foreign Assets Control added Russian oil company overseas affiliate TNK Trading International in Switzerland to the Specially Designated Nationals and Blocked Persons...
Georgia ports suffer 'precipitous drop in imports' Ports on East and West coasts do expect cargo surge as manufacturing ramps up in China following coronavirus-caused shutdowns.
Clarifying 'routed' exports for US data collection, enforcement The Commerce Department's Census Bureau and Bureau of Industry and Security believe an upcoming proposed rulemaking may resolve the regulatory confusion for required export data.
Coronavirus sinks maritime conferences American Association of Port Authorities and Women's International Shipping & Trading Association among organizations canceling meetings.
Supertanker spot rate on verge of breaking record high As the world reels from coronavirus, crude-tanker owners are raking in massive returns.
FreightWaves Flashback: Cross-Florida barge canal begins construction Historic canal construction begins; highway links Atlanta to ocean; recovery expected for Florida's citrus industry.
FMC monitors coronavirus impacts on container industry's competitive health "Right now, I believe most ocean carriers and marine terminal operators are acting responsibly and fairly in these challenging conditions," FMC Commissioner Daniel Maffei said.
Australia's NWS condensate to seek alternative homes after Pertamina declines purchase Australian North West Shelf condensate cargoes for May loading would have to seek alternative homes, after main buyer Indonesia's Pertamina declined to take any cargoes of the grade in a recent tender, while other end-users are expected to drive a hard bargain amid the ongoing surge in freight rates, Asian condensate traders said Friday.
Brazil's Petrobras adapts work rules after employee hit by COVID-19 Brazilian state-led oil company Petrobras joined many companies around the world in adopting measures to avoid further dissemination of COVID-19 after an employee was infected by the virus while on holiday abroad, the company confirmed Friday.
Malaysia's Kimanis May crude exports to double on month to 4.8 mil barrels A total of 4.8 million barrels of Malaysian Kimanis crude oil are scheduled to be exported in May, doubling from 2.4 million barrels in April, trade sources said Friday.
ARA diesel barge prices firm to 3-month high versus ICE LSGO on storage buying Barges of ultra low sulfur diesel trading in the Amsterdam-Rotterdam-Antwerp hub strengthened to a three-month high versus the front-month ICE low sulfur gasoil futures contract Thursday, as a deepening contango boosted buying appetite, while outright prices hit fresh three-year lows.
Diesel cracks outperform amid expectations of lower global gasoline demand The coronavirus pandemic, which has hit demand for road fuel in China and will impact Europe and the US in coming weeks, has led to quite different reactions in diesel and gasoline cracks amid the plunge in crude futures.
European crude differentials slump on week amid ongoing price war European crude differentials have fallen significantly across the board this week, as a combination of bearish fundamentals hammered spot price values.
Coronavirus, OPEC effects provide some solace for suffering shippers The credit-hit shipping industry is drawing some comfort from the collapse of OPEC+ and coronavirus-led demand weakness thanks to cheaper marine fuel costs, with prices for VLSFO in Europe having experienced a greater-than-expected drop, plunging by half since the start of the year.
Dubai spreads sink to fresh depths as rising freight adds to demand woes The Middle East sour crude complex, led by Dubai crude futures, sank to fresh lows Friday morning, as did Brent/Dubai spreads, with faltering crude demand receiving another blow from rising freight rates on Persian Gulf routes.
Jet NWE cargo swap moves into negative territory The European jet paper market moved into negative territory Friday--setting new all-time record lows--but pricing below physical premiums, suggesting a little tightness remains in the prompt.
European refiners seen snapping up cheap oil despite virus demand woes European refiners are expected to maximize crude runs, despite coronavirus hitting demand for their fuels, in a bid to lock in surging refining margins as a result of the oil price rout. But moves to process cheap crude may be short-lived as oil product storage tanks reach capacity and fuel demand continues to slump on expanding travel curbs, according to regional trading sources.
Overnight rally falters as US equities pull back from morning highs Crude prices held around even while products extended their downward run in midday trading Friday, as US equity markets steadily retreated from their sharply higher opening levels.
External: Global Risk Management
Illicit Iraqi oil smuggling to Syria continues amid US crackdown "Iraqi militias have little incentive to end cross-border oil shipments into Syria which the Sunnis in western Iraq also profit from and have little incentive to stop," Modell said.
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