Louis Dreyfus enters offshore wind crew transfer market France's Louis Dreyfus Armateurs Group and has partnered with U.K.-based Tidal Transit to sign a contract with GE Renewable Energy (GE) for two Crew Transfer Vessels for the Saint-Nazaire offshore wind farm.
NETSCo and LR to develop Jones Act compliant WTIV Lloyd's Register North America, Inc. (LR) has signed an agreement for a joint development project (JDP) with Northeast Technical Services Co., Inc. (NETSCo) to design and develop a Jones Act compliant wind
VIDEO: Great Lakes Towing christens two latest hybrid tugs Sister companies Great Lakes Towing Company and Great Lakes Shipyard yesterday joined together at their Cleveland, Ohio, facilities to celebrate the christening of the new tugs Pennsylvania and Wisconsin. Customers, vendors, community,
Van Oord orders cable layer at Vard Rotterdam-based Van Oord, a leading player in the market for laying and burying offshore wind power cables, has placed an order with Fincantieri Group member Vard for design and construction of a
Inmarsat acts to help two start-ups accelerate shipping decarbonization efforts As part of this year's "Decarbonizing Shipping" initiative run by venture developer Rainmaking Innovation Limited, mobile satellite communications leader Inmarsat. Inmarsat, has fast-tracked two start-ups to Certified Application Provider (CAP) status. The
Dr. Rick Bucher to take helm as Victaulic CEO Easton, Pa., headquartered mechanical pipe-joining solutions specialist Victaulic reports that Dr. Rick Bucher will succeed Dr. John F. Malloy as CEO, effective January 31, 2021. Bucher was named President of Victaulic in
Still owing around $1.3 billion, Bourbon will shed more vessels French offshores services leader Bourbon Maritime says that its recovery plan and a conciliation protocol signed with its creditors were validated on December 14 by the Commercial Court of Marseilles. Bourbon says
US Gulf Coast refineries see reduced need for imported crude, consultant says The situation underlines a reversal in the petroleum shipping that has taken place since 2005 when marine terminals along the...
Dubai shipowner linked to Iran product tanker logistics chain One tanker was involved in an aborted ship-to-ship transfer with a Maersk Tankers vessel in December, suggesting other tanker operators...
Signal adds emissions calculator to spot market platform New tool can help charterers evaluate environmental footprint of bulkers or tankers available for their cargoes. It will be upgraded...
Marine fuel economics support LNG as propulsion alternative Investment economics still require a 20-year time horizon, with take-up also depending not only on the availability of LNG but...
ILO slams governments for failing seafarers The International Chamber of Shipping and the International Transport Workers' Federation welcome the direct rebuke of governments who are not...
Skuld combined ratio hits 118% at nine-month stage Returns from commercial operations and investment cushion members from worst impact of surge in pool claims, says chief executive Ståle...
UK ports reject retailer demands for congestion inquiry No government inquiry is needed into port congestion and delays at Felixstowe and Southampton, which are part of a wider...
Fleet scarcity to boost 2021 LPG freight rates Strong LPG fundamentals are expected to present the segment with healthy demand in the coming year, while tight fleet supply...
Maersk Tankers-operated vessel aborts transfer of sanctioned Iranian cargo The incident ensnares the reputable Danish shipping company in the subterfuge world of sanctions-busting after risk compliance measures failed to...
Capacity management will be box shipping's new normal Tight cost controls and strict capacity management got container lines through the crisis of 2020. Yet while the outlook for...
LNG industry finds light in the dark Next year will see fewer cargo cancellations as existing LNG plants ramp up output, which will help boost LNG fleet...
Alternative finance is on the rise as Chinese lessors falter Ship finance has ceased being a matter of banks or public markets and experts say there are potential sources of...
Expansion in US LNG exports drives winter shipping rates US-Far East trade has risen this winter, fed by a wider east-west arbitrage window
Daily Briefing Free to read: Read our 2021 Tanker Outlook | Is the UK really taking on Singapore? | Exclusive interviews with...
Keppel O&M lands $600m wind vessel order Construction on the vessel is already under way at Keppel AmFELS in Brownsville, Texas. The newbuilding is touted as the...
Rongsheng Petrochemical eyes chartering 10 VLCCs Tanker experts have questioned Rongsheng's plans to order 30 VLCCs to serve its own refining projects. Some ships might have...
US sanctions four companies for supporting Iran's petrochemical sector The announcement comes as Iran's President Hassan Rouhani says his country is not 'excited' by Joe Biden taking over at...
Capesize congestion worsens amid bad weather, Covid delays Number of capesize bulkers clogging Australian ports has doubled from last week, brokers say
Star Bulk Carriers buys three capesizes in ships-for-shares deal with ER Capital Greek bulker owner has had options to acquire the vessels since August 2018 and is finally pulling the trigger on the deal
Diana Shipping continues capesize fixture with Koch Shipping New York-listed bulker owner has five other ships chartered to the commodities trader
Gunvor buys into ship tech venture led by Olympic champion sailor Trading giant has acquired a minority stake in Artemis Technologies, which is developing zero-emissions ferries in Belfast
UN agency rules governments' handling of crew crisis is 'unlawful' Landmark judgement orders governments to provide medical services to crew and repartriate stranded seafarers
Gil Ofer reveals line-up for second year of EPS tech start-up project Maritime accelerator scheme involves companies trying to launch robotics, AI and machine vision businesses.
Thenamaris pares down swoop on Greathorse capesizes Major Greek shipowner picks up only one in four bulkers it tied up on subjects in early November
Maran, Ridgebury and BULL dispose aged tankers in resilient asset market Old tonnage still can command a decent price but outlook is weak due to earnings prospects
Greek tanker confirmed boarded for third time, despite false alarm claim Gunman caught on handysize tanker's CCTV off Nigeria
Restructured Bourbon to sell or scrap more than 100 ships Bank-owned offshore vessel giant has seen debt cut by more than $1.8bn, but still wants to reduce its vessel count
Former Bourbon PSV quartet sells at auction after 65% price cut Sixth time lucky for Chinese lender ICBC as offshore vessels finally find buyers
Shearwater seals $437m refinancing after WesternGeco takeover Geophysical shipping company taps lenders for new facility over two and four years
New Oman Shipping boss plots fleet renewal and charter talks Shipowner says it is focusing on eco vessels and persuading charterers to renew deals
Breakers continue to gobble up capesizes in busy market Alpha Bulkers and NYK shed older units, with more to come
Seaspan selling $200m of bonds to fund potential acquisitions Containership owner looking to diversify capital base at attractive price
Industry think tank established to pave way for global vaccine roll-out Shipping groups seek solutions to problems posed by inoculation challenge
Hellenic Shipyards sale may hit snag after receiving single bid Greek shipping investor Theodore Priovolos offers $18.4m upfront for Stavros Niarchos-founded yard, but the government in Athens may find this is too little
Bulker orders stack up in China as Jiangsu Ocean splashes out ultramaxes Order for four ships split between two shipyards in the Cosco stable
Reborn Kleven yard secures new order as Age Remoy moves into wind sector Shipbuilder bought by Green Yard in the summer wins vital new work
Okeanis recoups 65% of $40m scrubber costs as profit soars in 2020 Greek owner makes back $26m of capex as earnings set to top $100m
Royal Caribbean moves ahead with vessel sales as restart date drags into 2021 Miami-based cruise operator sells two oldest ships in flagship brand for what appears to be further trading
Keppel Corp to build $450m WTIV at US shipyard Singapore company lifts veil on identity of company behind renewable vessel order announced in October
Late VLCC surge adds sparkle to a dismal year for shipbuilders Hyundai Samho nets fresh contract with Asian owner in end-of-year dash for newbuildings
MOL takes delivery of Japan's 'first' LNG-fuelled coastal bulker Ship will deliver imported coal to countries largest coal-fired power plant in Aichi prefecture
Container ships suffer record delays as demand spikes Will your cargo ship arrive on time? Globally, the chances are now 50-50. In the Asia-U.S. container trade, it's less than one in three.
US offers vaccine makers supply chain support as delivery tempo increases Operation Warp Speed and the delivery of the Pfizer COVID vaccine are clicking on all cylinders, but that doesn't mean production and distribution are going...
Qantas Freight renews domestic air contract with TNT/FedEx Australia FedEx Express and TNT Express are integrating. They will continue to outsource airfreight to Qantas under a new deal.
OIL FUTURES: Front-month WTI settles above $48/b for first time since February Front-month NYMEX WTI settled above $48/b on Dec. 17 for the first time since February amid a bevy of bullish news on the new vaccine rollout, a potential deal on a US coronavirus stimulus package and optimism on a post-Brexit trade agreement finally being reached between the United Kingdom and the European Union.
TENDER DATA: S Korea's EWP buys 540 CST LSFO for December Korea East-West Power Co. bought low sulfur fuel oil, or LSFO, for December as South Korea shuts coal power plants this month, a company source said.
REFINERY NEWS: South Africa's Cape Town still closed South Africa's Astron Energy Cape Town refinery remained closed, the company said Dec. 17, but work has commenced on a plan for a safe restart though "it remains too early to determine when that will be".
First VLGC powered by LPG headed from US toward Panama Canal: Platts cFlow **BW Gemini departed Enterprise facility Dec. 13 **Achievement bullish for propane demand
Gunvor invests in Artemis Technologies' push for low-carbon ships **Project targets vessels with zero emissions during operation **IEA predicts over 60% of emissions savings in 2070 to come from technologies unavailable
FEATURE: Politically fractured Iraq's fiscal struggles strain its OPEC commitment **Compliance with OPEC+ oil cuts seen waning **Competing US, Iran influence complicate policy **Oil and gas investments may be at risk
Naphtha export port Algeria's Skikda resumes ops after weather delays **Delays not impacting NWE prices despite stronger crack margin **Naphtha arb cargoes to the East delayed from Algeria
Okeanis Eco Tankers recoups 64% of scrubber capex within two years **Payback expected to be 4-6 years **Hi-5 72% lower than at start of year
FEATURE: Bunkers may face bearish 2021 on VLSFO supply boost, mixed shipping prospects **Mostly firm sentiment for 3.5%S fuel oil **Oil inventories to weigh on tanker demand **Bullish streak in containers should last into Q1
REFINERY NEWS: Falconara desulfurization unit operational after works: source API's 85,000 b/d refinery in the Italian coastal town of Falconara Marittima has completed works on its U2500 desulfurization unit and restarted it successfully after the maintenance and upgrade cycle, according to information provided by sources to S&P Global Thursday.
Probunkers submits request for Singapore LNG bunkering license Probunkers said Dec. 16 it has submitted a request to provide LNG bunkering operations in the Port of Singapore.
REFINERY NEWS ROUNDUP: Some maintenance ends in Europe, TAL shipments resume Some maintenance has finished in Europe with refineries restarting but temporary closures remain in force at a number of plants, both full and partial.
REFINERY NEWS: Dutch Pernis completes work on unspecified unit Shell's Pernis refinery in the Netherlands has completed works on a unit that started mid-October, it said earlier this week, without specifying which unit.
Japan's domestic clean product shipments fall in Oct on weak jet fuel demand Japan's total clean product domestic shipments fell 9% on the year to 5.02 million kl, or 31.58 million barrels, in October due to the weak domestic jet fuel demand, according to the latest data from the Japan Federation of Coastal Shipping Associations.
Prince Abdulaziz says OPEC+ committed to stable oil market, even with disagreements **OPEC+ should stay proactive, energy minister says **Saudi Arabia targets market stability, not specific oil price **Saudi budget slashes spending to narrow deficit
Container shipping strength to last into Jan-Feb: analysts **Sharp price rise implies cargoes being rolled over **Active capacity repositioning may incommode backhaul shippers
Biden hones climate focus with recent slate of expected energy post picks **Granholm has record spurring renewables, EVs **McCarthy advanced key Obama climate rules **Buttigieg championed strong decarbonization goals
Malaysia frets over excess transport fuel supply after Oct refinery output hike **Gasoline output up 16% on month but driving activity tumbles **Domestic refiners plan to lower run rates in near term **Higher fuel exports weigh on regional gasoline market structure
Eight energy majors agree energy transition principles, action on emissions **Seven European majors plus Occidental sign up **Focus on reducing emissions, transparency **Carbon intensity metrics to be developed
TENDER DATA: Sri Lanka's Ceypetco buys 180 CST HSFO for Dec 27-28 Ceypetco is procuring fuel oil on behalf of West Coast Power Pvt. Ltd. and other local power companies for power generation.
ITALY DATA: Oil product demand falls 16% in Nov amid restrictions: Unione Petrolifera Italy's demand for refined oil products in November fell 16%, dropping 766,000 mt year on year to 4 million mt, curbed by new COVID-19 restrictions rolled out by the government, according to industry group Unione Petrolifera.
FEATURE: More gloom for European refiners in 2021 on weak margins, new capacity **COVID-19 exacerbates 'structural weakness' **More capacity expected to close in coming years **New refineries, upgrades elsewhere pose challenges
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