DNV GL: Fuel choice the essential decision in shipping decarbonization The just-released fourth edition of DNV GL's Maritime Forecast to 2050 identifies fuel choice as the essential decision facing shipping as it charts a path to decarbonization. And while there are many
Mackay Marine opens Cape Town sales and service center Raleigh, N.C., headquartered Mackay Marine reports the opening of its newest marine electronics sales and service center in Cape Town, South Africa, following the acquisition of Dynamic Marine Systems (DMS) (Pty) Ltd.
VIDEO: IMO Secretary-General calls for sustainable shipping for a sustainable planet In a World Maritime Day message today, International Maritime Organization Secretary-General Kitack Lim said that IMO's theme for 2020, "Sustainable shipping for a sustainable planet," couldn't be more relevant now and for
LAD Services delivers walking spud dredge barge The Shearer Group Inc. (TSGI) reports that LAD Services of Louisiana has delivered a 200- by 60-foot walking spud dredge barge. LAD Services contracted TSGI to develop the design of the barge
ESS specialist offers "microgrid in a box" for easy vessel installation Vancouver, Canada, headquartered energy storage system (ESS) specialist Sterling PBES has launched the CanPower "microgrid in a box," designed to add energy storage to virtually any vessel, without the need for complex
Canadian Coast Guard icebreaker to retrofit Wärtsilä solutions Wärtsilä has won a contract for the delivery and integration engineering of two retractable thrusters and a dynamic positioning (DP) system for the Canadian Coast Guard (CCG) icebreaker CCGS Amundsen. Wärtsilä was
Jet and automotive fuels now being used to blend marine fuels In a Marine Fuel Alert, the UK P&I Club warns that, reflecting the destruction of demand the aviation and automobile industries have suffered in the wake of the pandemic, it is widely
Floating storage at five-month low Since peaking at just over 307m barrels on 254 tankers in early July, volumes held in floating storage have eased...
Banks warn against shutting out shipping from green financing With an important part of shipping assets and activities unlikely to meet new green financing criteria, industry financiers warn against...
UN warned crewing crisis could involve 'a million' seafarers The International Chamber of Shipping, which estimates 400,000 seafarers are trapped at sea and the same number trapped on land...
Marine insurers must define 'just a glitch', IUMI told 'It may be beneficial if the maritime industry puts more effort into reporting and finding the root causes, not only...
US crude exports to halve by second quarter of 2021 US crude production and exports are now being closely watched amid faltering demand for land and transport fuels, which has...
Crunch time for shipping's green finance credentials Shipping's biggest lenders are due to open up their portfolios to disclose decarbonisation trajectories, while criteria for green shipping bonds...
Bicycles and baubles show extent of trade war impact Higher costs and the effects of the trade war see China lose some of its manufacturing base to neighbouring countries
MISC chief seeks niche targets to gain 'first-mover advantage' 'Each asset in the segments in which we are active costs a lot of money, so we strive to match...
UK can lead shipping's green recovery - with the right support If the UK maritime sector is to gain a substantial share of a global blue economy set to be worth...
Peel Ports says Liverpool is solution to Dover's truck queues Peel Ports calls for cargoes to be shipped from ports nearer to traditional manufacturing and transport hubs to avoid supply...
NYK to book loss on bulker redeliveries amid uncertainties A better-than-expected performance by NYK's container shipping joint venture has helped to lift its earnings prospects
Daily Briefing Free to read: Will pandemic lead to a maritime crime spike? | Singapore relaxes rules to assist crew changes |...
CMA CGM set to buy 30% stake in Dubreuil Group Aero The acquisition of the stake in the French private airline group will enable CMA CGM's expansion in the airfreight space
Zim launches reefer-focused China-Australia service The Israeli container line sees high demand and good opportunities in the reefer market and touts its new service as...
Supramaxes and handysizes see highest rates since November Four supramax bulkers were placed on fixtures on Thursday
Abandoned 'floating bomb' tanker creates oil spot in Red Sea The spill was reported to the UN Security Council by Saudi Arabia
Is insolvent Pullmantur coming back at a higher price? Spanish cruise brand, partly owned by Royal Caribbean Group, has posted on Facebook that it is trying to return to sailing
Capesize bulker market gets a shot in the arm from the Atlantic Stronger capesize rates help boost the Baltic Dry Index by 13%
Remote surveys are fashionable, but Idwal warns 'boots on deck' are irreplaceable Physical surveys can better overcome hardware, cultural and network connectivity issues, chief executive Nick Owens says
Brazil launches investigation into Hygo chief executive, putting IPO in jeopardy A series of search warrants executed in the South American country could end Hygo's bid to go public
World governments warned inaction on crew changes could have dire consequences Officials and industry leaders once again called for 'key worker' status for seafarers
Coronavirus seen as benign to shipping as supply crimp supports freight rates Environmental regulations expected to constrain newbuilding orders in the coming years
Tomini adds delayed kamsarmax and snaps up ultramax Dubai bulker owner expands its fleet again following Oslo listing earlier this year
Data drive: Shipfix thrives as bulker business moves into the cloud Aggregating platform's Antoine Grisay explains how the home-working boom has helped the start-up to attract bigger and bigger clients
Equinor and Rokke's Aker BP extend charter deals with Solstad Norwegian rival DOF also adds to contract backlog outside Europe
Tufton logs loss but will benefit from market rebound UK shipping investment fund confident that it is well placed for an eventual recovery, however
Insurers pay out $900m as car carrier claims soar Cargo, hull and salvage claims from car carrier casualties are becoming a major concern for insurers, with one particular loss running up an eye-watering bill
IMO discusses sustainability under the darkening cloud of crew crisis The problems of seafarers cannot be ignored on a day the IMO chose to discuss the environment
John Fredriksen loses $1.1bn in a year Shipping tycoon is still more than twice as rich Norway' second-richest person
Tufton says rest of 2020 not going to get easier as it logs loss UK shipping investment fund confident that it is well placed for an eventual recovery, however
NYK Line revises profit forecast upwards on the back of ONE performance Japanese outfit's liner business is improving but it will lose money by terminating capesize bulk charter contracts early
Another GP Global-chartered tanker threatened with arrest over cargo misdelivery allegations Troubled commodity trader and bunker supplier accused of telling ship to discharge the cargo to receivers who did not hold bills of lading
K Line adds $109m to profit forecast as boxship demand recovers Japanese owner was previously expecting a loss due to Covid-19 effects on its business
Zero-carbon fuel transition must start now to achieve 2050 goals Entire maritime community needs to get moving on less carbon-intense fuels if it is to meet the IMO's emissions targets, urges DNV GL maritime chief Knut Orbeck-Nilssen
Scorpio Tankers hits the road to sell 'big' bond issue Product carrier owner holding calls with investors as it looks to add to liquidity
Zhonggu Logistics targets boxship buys with $218m IPO cash Chinese container line looking to make the move on to the main board in Shanghai
United Nations head speaks out on crew change crisis Comments come ahead of an IMO presentation to UN urging governments to act on issue affecting 800,000 seafarers
Shipping seeks to count the cost of EU emissions trading More ambitious baseline may make meeting EU rules more difficult than IMO's targets.
CMA CGM looks beyond shipping after buying into French airline French line continues to diversify with new investment in Groupe Dubreuil Aero
India's Jalesh Cruises to resume cruising in November Mumbai-based operator throws free Covid-19 test into the cruise package
Seadrill dragged into Brazil's Operation Car Wash corruption probe Federal police serve Brazilian subsidiary with search and seizure warrant
Nakilat floats VLGC fleet for sale as it homes in on LNG Doha-based shipowning giant is also inviting offers on a small stake in an LNG carrier
Bangladesh set to get its first ever cruise operation South Asian nation gets major upgrade on passenger services to remote resort island.
Sargeant Marine will pay $16m after South American bribe schemes The Florida company bribed officials in Brazil, Ecuador and Venezuela
Port Houston: Bigger ships need wider channel Shipping channel widening is expected to begin next year.
Peak shipping season for air cargo heats up to full boil Good luck finding an available aircraft to haul your goods at a reasonable price for the next three months. Competition for airlift is fierce these...
Ocean carrier group seeks dray truckers' chassis complaint dismissal The Ocean Carrier Equipment Management Association says the Federal Maritime Commission's jurisdiction does not apply to a domestic transport dispute with container-hauling truckers.
Japan Airlines sees future for drones JAL supports testing drone systems to safely and efficiently deliver essential goods to the country's health care network.
High trans-Pacific container rates trigger spikes on other ex-Asia routes Strong demand and attractive rates for trans-Pacific routes have worsened the container shortage in Asia, leading to a domino effect on prices on other routes within Asia.
OIL FUTURES: Crude oil lower as concerns over coronavirus, US growth weigh 0636 GMT: Crude oil futures were lower in mid-afternoon trade Sept. 24, as coronavirus concerns and a negative economic forecast weighed on oil, but a US stock draw helped pare losses.
CRUDE MOC: Sour crude convergence emerges for first time in September A convergence cargo was declared on the Platts Market on Close assessment prices on Sept. 24, the first one seen this month.
FOB NWE butane coasters strongest in 4 months on market tightness FOB NWE butane seagoing coasters have strengthened to a four-month high as a percentage to naphtha on market tightness driven by short supply in Northwest Europe.
ARA diesel, gasoil stocks fall 5.5% on week to 2.787 mil mt: Insights Global Diesel and gasoil inventories in the Amsterdam-Rotterdam-Antwerp trading hub dropped from a 13-month high, slipping 5.5% week on week to 2.787 million mt as of Sept. 23, Insights Global data released Sept. 24 showed.
Asian butadiene hits 7-month high, boosts butadiene-naphtha spread to 5 1/2-month high The key CFR China butadiene marker was driven to a seven-month high at the Asian close on Sept. 23 by limited supply and healthy downstream demand, which swelled its spread to feedstock naphtha to a 5 1/2 month high, Platts data showed.
West African imports of ULSD at multi-year high in September: Kpler West African imports of ultra low sulfur diesel -- with maximum 15 ppm sulfur -- in September were expected to reach 484,000 mt, which would be the highest monthly volume in data going back to January 2017 and in which the average was 117,000 mt, according to commodity data company Kpler on Sept. 24.
OIL FUTURES: Gasoline cracks rise as crude, RBOB futures diverge Gasoline cracks rise in midday US trading Sept. 24 as RBOB futures climbed against an oil complex that otherwise lacked direction.
Singapore Oct ex-wharf marine fuel term contract indications higher on month on demand uptick "The market is still very volatile, so I am going to wait till the very end of the month to place a bid for October term," a Singapore-based bunker trader said.
Taiwan to skip LSFO exports in October amid lower production, weak margins "We are likely to skip [LSFO exports] in October as well. We are just focusing on meeting our domestic bunker demand for the time-being," a company source said.
S Korea delivered 0.5% marine fuel differential hits 5-month high on tight supply Korean refiners have reduced operating ratio due to bad gasoil cracks, resulting in a drop in fuel oil volumes, a source said.
August container volumes at China's ports up 7% on year amid firm demand Total container shipments at China's ports increased 1.3% on the month in August, data published by the Ministry of Transport showed.
Regulatory framework, flexibility key to navigating shipping decarbonization: DNV GL Fossil LNG gains a significant share until regulations tighten in 2030 or 2040 depending on the decarbonization pathway,it said.
Oil tanker arrivals mark restart of Libyan exports Sources said this tanker was chartered by Unipec, which has regularly lifted Libya's Sarir/Mesla crude.
Fujairah oil product stocks slip to near six-month low "Two suppliers left the Fujairah bunker market, which has reduced the competition," Mali said.
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