New Capital Maritime boxship order may top $600m It is understood the agreed price for each vessel is about $100m but this could increase if Capital exercises a...
Hapag-Lloyd chief sees extra inventory as protection against supply chain shocks Chief executive Rolf Habben Jansen says very high containership spot rates could continue into the second quarter of 2020 and...
IMO condemns 'no crew change' clauses in charterparties Clauses in charterparties that prohibit crew changes are undermining efforts to resolve the crew-change crisis and go against calls to...
Safe Bulkers clinches post-panamax newbuild Newly-contracted post-panamax of 87,000 dwt due for delivery in the third quarter of 2022
Class association changes governance rules The International Association of Classification Societies will move away from its current fixed-one year leadership rotation and will introduce elections...
Wakashio owner drafts accident prevention plan The sweeping new measures to ensure the safety of its operations include the prohibition of using personal mobile phones during...
Scorpio bids farewell to bulkers with writedowns The US-listed company will exit the dry bulk sector with the sale of its 25 remaining vessels in 2021. It...
France cuts links to UK ports over mutant coronavirus concerns The port of Dover has halted lorry traffic due to travel restrictions from France on the UK, as European Union...
Daily Briefing Free to read: Shipping Outlook 2021: This year was just a taster of the disruption yet to come | Regulatory and...
SITC orders six more boxships from Yangzijiang Shipbuilding With the improved market sentiment in container shipping, Yangzijiang is confident that it will maintain the order win momentum, says...
MSC urges solution to crew-change problem off China coast The company says repeated requests for crew on board to be relieved have yet to be implemented by the chartering...
Container shipping 2021: Hangover or party on? Container imports far exceed sales, raising concerns that 2020's transport binge could lead to a big headache in 2021.
Port of Long Beach delivering cargo information in waves "Sharing this information is highly beneficial for the supply chain, especially as we cope with both seasonal and unanticipated peaks and valleys in cargo volume,"...
Commentary: AgTC applauds FMC's push of Shipping Act mandates The Agriculture Transportation Coalition is grateful to the Federal Maritime Commission for its support of American shippers.
AIT Worldwide Logistics buys German forwarder Fiege AIT Worldwide Logistics is expanding its international footprint with the purchase of a German freight forwarder.
Career Tracks: After more than a decade, 3Gtms gets new CEO Paul Brady succeeds company founder Mitch Weseley.
Brazil's Enauta to take full control of the offshore Atlanta Field Brazilian independent oil and natural gas producer Enauta will take over full control of the offshore Atlanta Field and assume erstwhile former partner Barra Energia's 50% stake, Enauta said in a statement Dec. 21.
Singapore's jet fuel crack at 9-month high on hopes of aviation recovery The Singapore front month jet fuel/kerosene derivative crack spread against Dubai crude swaps -- a measure of the product's relative strength to crude -- reached a nine-month high at the Asian close on Dec. 18 due to renewed hopes that the aviation sector was due to see a steady, albeit slow, recovery, industry sources said.
EMEA middle distillates: Key market indicators this week Outright prices of European distillate were seen retreating on Dec. 21 from the nine-month highs reached on Dec. 18, as sentiment is weighed down by the new strain of the virus which led more and more countries to close their borders with the UK.
Rare Indian jet fuel cargo to arrive in US West Coast in January A cargo of Indian jet fuel is making its way to the US West Coast for the first time in four years, marking a rare move as Indian jet fuel cargoes typically land in the US Atlantic Coast and not the USWC due to freight economics. North Asia and Southeast Asia are the usual suppliers of jet fuel to the USWC.
Asia middle distillates - Key market indicators this week The Asian middle distillates market started the week of Dec. 21 on a stable note, with gasoil and jet fuel/kerosene largely rangebound amid a seasonal lull ahead of year-end festivities.
Asia light ends - Key market indicators this week Asia's light ends markets were mixed early Dec. 21, with gasoline and naphtha posting losses amid a weaker Brent crude complex, while propane shrugged off crude losses to climb further on supply tightness and arbitrage cargo delays from the US to Asia.
FEATURE: Middle East-Asia oil sectors to shape global refining revolution in 2021 The global oil refining map is being redrawn. Simple, traditional refineries are being superseded by complex mega-plants. Meanwhile, the ailing downstream sector, particularly in Europe and the US, is either shutting down or shifting away from classic oil products to bio-refineries, and middle distillates are losing popularity to petrochemicals.
AMERICAS BUNKERS: Key market indicators Dec. 21-25 Spot bunker prices in the Americas strengthened in recent days, with supply concerns in some Latin American ports and subdued demand on the Gulf Coast.
European LSGO futures net speculative length rises amid higher flat prices Speculative net long positions in ICE low sulfur gasoil futures swelled by 6,941 contracts to 61,248 in the week to Dec. 15, according to ICE data released Dec. 21.
FEATURE: Confidence gradually lifts in battered North Sea oil and gas industry The North Sea oil and gas industry enters 2021 picking up the pieces after a vertiginous price collapse, but with an optimism that it has more to give, as new companies, projects and exploration help navigate the energy transition.
OIL FUTURES: Crude selloff extends as new COVID-19 strain threatens demand outlooks **UK, Europe implement new lockdowns **Oil on track for biggest one-day decline since Oct **Congress to vote on US stimulus bill
FEATURE: Scotland pressures UK with hydrogen goal as policies gear up for 2021 **Scotland matches Westminster's UK-wide ambition **Joins growing list of European countries with H2 strategies **2021 to see development, build-out of demonstration projects
Rosneft announces new climate goals, emission cuts until 2035 **Rosneft aims to cut emissions intensity by 30% **Rosneft plans to increase gas in portfolio to more than 25% **Company considers producing cleaner fuels, including hydrogen
Bunker supplier Monjasa takes on new WAF floating storage **Crude tanker SKS Dokka operating off Lome **Product demand has shifted in region: company
Europe and Africa residual fuel -- key market indicators this week Usual strategies for minimizing product in storage as year-end approaches continued to offset limited supply coming from refineries last week. Meanwhile, "Christmas demand" looks set to keep bunker suppliers busy this week.
Hydrogen, ammonia to account for 10% of Japan 2050 energy mix: METI proposal **Procuring 300,000 mt/year of hydrogen for power by 2030 **Japan's 2020 hydrogen procurement costs at Yen 170/normal cu m **1 GW coal-fired unit would require 500,000 mt/year ammonia
FEATURE: An asymmetrical oil market searches for balance **Dated Brent jumps to nine-month high **Momentum could be halted by new COVID-19 strain in UK **North Sea spot market gets more active **Gasoline outlook starts to weaken but margins improve
REFINERY NEWS ROUNDUP: Mixed refinery runs in Russia in January Demand for crude for processing at Russian refineries in January, especially from export-oriented refineries, is likely to be subdued, with many reducing throughput and some processing old stocks rather than trying to secure new volumes, according to sources.
REFINERY NEWS: Galp to halt Porto refinery operations in 2021 Galp said in a regulatory filing Dec. 21 it will discontinue its refining operations at the Porto refinery from 2021 and concentrate its core refining activities and future developments in its larger Sines refinery, with a capacity of 220,000 b/d.
HydrogenPro buys ASP to boost alkaline electrolysis efficiency **ASP electrode increases efficiency 'by up to 14%' **'Major step' for green H2 cost competitiveness **Providing electrolysers to 500 MW Dunkirk project
ScottishPower sets up hydrogen business, targets industry, transport, food **Follows parent Iberdrola's 600 MW electrolysis goal **'Significant contribution' to UK's 5 GW target **Dedicated UK hydrogen strategy due early 2021
Crude loadings, tankers unaffected as countries close borders to UK over COVID-19 variant **Forties loadings continue as normal: Ineos **Port assoc. says unaccompanied freight unaffected **Restrictions focused on trucks, passengers
More Vietnamese buyers look regionally for motor fuel cargoes prior to tax changes **Buying interest for motor fuels expands to Southeast Asian countries **Vietnam's fuel buyers eye savings on import costs, wider pool of sellers
FEATURE: Forward-dated crude futures volumes surge as hedging interest returns **Year-ahead WTI volume up 300% from November **Forward curve strengthens on vaccine hope **Near-term demand risks persist
Saudi and Russia show united front on OPEC+ strategy as Novak visits Riyadh **Russia, Saudi Arabia united on OPEC+ policy in rare in-person meeting **Monthly OPEC+ meetings necessary to track unstable demand recovery **Moscow, Riyadh to sign new bilateral cooperation deal in H1 2021
Asia residual fuel - Key market indicators this week Shipowners are actively beginning to procure low sulfur fuel oil for January following a slowdown in December ahead of the festive season, setting the market in recovery mode.
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