Vineyard Wind selects DEME/Foss partnership for wind turbine transport installation Vineyard Wind will use a foreign-flag wind turbine installation vessel (WTIV), serviced by Jones Act compliant feeder vessels, to install the wind turbines for the first large-scale offshore wind installation in the
Ever Given: Suez Canal Authority to seek $1 billion compensation The Suez Canal Authority will seek compensation of more than $1 billion for losses and costs related to the refloating of the giant containership Ever Given, Suez Canal Authority Chairman Admiral Osama
Mystery of the shrinking ferry When a 1978-built ferry operated for Canada's BC Ferries between1991 and 2015 as the Queen of Chilliwack she had a length of 114 meters and a gross tonnage of 5,011 gt and
Crowley awarded $56.5 million MSC contract Crowley Government Services Inc., Jacksonville, Fla., has been awarded a $56,569,632 bridge contract for the firm-fixed-price portion of a previously awarded contract (N6238715C3135) for operation and maintenance of six government-owned maritime prepositioning
Royal IHC is developing hydrogen-fueled TSHD Bureau Veitas has granted Royal IHC an Approval in Principle (AiP) for the design of a hydrogen-fueled trailing suction hopper dredge (TSHD). Royal IHC is exploring a new type of vessel referred
Bouchard Transportation pays $375,000 in restitution to whistleblower The U.S. Department of Labor reports that Bouchard Transportation Co. Inc. and three former and current management officials have paid $375,000 in restitution to a seaman whose brother was one of two
Minerva Gas signs up five ships for Wärtsilä optimized maintenance Wärtsilä has signed long-term optimized maintenance agreements covering five LNG carrier vessels owned and operated by Greece-based Minerva Gas Inc. The advanced support package in these agreements is designed to ensure operational
Conrad Industries reports $4 million 2020 loss, but boosts backlog Morgan City, La., headquartered Conrad Industries Inc. (OTC Pink: CNRD) has reported its 2020 results and backlog. The company had net loss of $4.0 million and loss per diluted share of $0.80
Maritime Markets Outlook: Shipping's game of snakes and ladders The Suez shutdown exposed the fragility of global supply chains, but what about other black swan events that could potentially...
Sometimes, no publicity really is bad publicity A week-long shut down of the Suez Canal courtesy of a container giant exposed the fragility of global supply chains...
Combination of LNG and wind may be answer to IMO aims The industry needed to focus on a propulsion-centric approach when it came to ship design rather than focusing on the...
The week in charts: Suez relief and decarbonisation timeline Shipping breathed a collective sigh of relief earlier this week as Ever Given was finally freed from the banks of...
Methane gas fuels are not just for the transition Biofuels and LNG offer route maps to a carbon-free future. And while they probably will not be the final word...
Suez Canal seeks billion-dollar payout over closure West of England holds its members covered without additional premiums for deviations round Cape of Good Hope, as lawyers unpack...
Private 5G network for port of Southampton Associated British Ports has signed a deal with Verizon Business to build a private 5G network at the port of...
MR tankers gain 292% in March on diesel 'export frenzy' Biggest boost seen for Atlantic tankers, with rates surging to nearly $11,000 per day, from $2,800 at beginning of March
Dry bulk worst hit by 'vaccination lottery', says Intercargo 'Bulk carriers on tramp trading call at many more ports than other shipping sectors and are at the mercy of...
Shipping has seven months to show decarbonisation progress COP26 in Glasgow may judge kindly what shipping has been able to achieve since the 2015 Paris Agreement. Mounting pressure...
Waiting on the carbon offset boom With the global voluntary carbon market set to grow exponentially in the coming years, what role will it have on...
New efficiency measures will not radically change shipping The majority of the global fleet is, however, going to have to take action to comply with incoming regulations, with...
Box carriers expect Suez backlog to clear by weekend The Suez Canal Authority has increased transits close to their daily maximum. Containerships that have been waiting for up to...
US ports expect little impact from Suez closure No port on the US west coast is expecting any surges or bunching up of ships coming out of the...
Daily Briefing Free to read: Shippers prepare for delays and disruption following Suez reopening | Suez tailback shrinks but 300 vessels still...
Navig8 joins South Korean ammonia bunkering project Navig8 joins Maersk, Euronav, MISC and several other shipping lines that have tabled ammonia initiatives
Maritime has small place in $2trn US infrastructure plan As an investment in the nation's freight system the $17bn is only a small amount, but hardly surprising given the...
Imports 'to set new monthly records from now into the summer' This is an excerpt from Monday's (3/29) Point of Sale retail supply chain newsletter sponsored by ArcBest. Yee-HAW, people. The third round of fiscal stimulus is causing an...
First interview with new Federal Maritime Commission chairman Daniel Maffei becomes chairman at a time of massive disruption in the world of trade.
Cargojet to fly 2 more freighters for Amazon in Canada Amazon Air has hired Canadian all-cargo carrier Cargojet to provide crews, maintenance and insurance for two aircraft it plans to use to move e-commerce parcels.
Saudi oil minister tells OPEC+ recovery 'far from complete' The following is an edited summary of remarks made on April 1 by Saudi Arabia's energy minister, Prince Abdulaziz bin Salman, at the opening of the meeting of the OPEC+ producer group.
Transneft expects to ship 8.5 mil b/d of Russian oil in April Russian pipeline operator Transneft said April 1 that it expects to ship 34.82 million mt, equivalent to around 8.5 million b/d, of Russian oil in April.
OPEC+ seeks clearer signs of oil recovery, as Saudi Arabia urges continued caution The OPEC+ alliance's conservativeness in maintaining tight control over oil supply has been "proven right," Saudi energy minister Prince Abdulaziz bin Salman said April 1, urging his counterparts to stay disciplined in their mission to bring the market back to its pre-pandemic health.
Aramco may slash dividend payment to boost Saudi economic growth plan Saudi Aramco may cut dividend payments to the government, pledged as part of its IPO strategy in December 2019, following an announcement from the country's leadership that companies must reduce shareholder payments and funnel money into the local economy instead.
UK diesel imports up 10% on month in March as restrictions ease United Kingdom diesel imports rose 10% on month to 905,285 mt in March, and were 32.6% lower on year, commodity information provider Kpler data showed.
OIL QUARTERLY: Pressure builds for European crude markets after buoyant start to 2021 European and African crude markets are leaving a relatively strong Q1 2021 behind them and heading into the second quarter under renewed pressure from the coronavirus pandemic, as lockdowns are extended and Chinese demand remains focused elsewhere.
Bangladesh Petroleum Corporation to import 1.24 mil mt of petroleum products in H2 2021 State-run Bangladesh Petroleum Corporation plans to increase its refined oil product imports for delivery in the second half of the year to 1.235 million mt through a buy tender as the company is expecting higher consumption in the second half of the year despite rising cases of coronavirus infections being reported across the globe, BPC chairman Md Abu Bakr Siddique told S&P Global Platts.
BRAZIL DATA: Refined product sales retreat 6.8% on year in February Brazil sold fewer barrels of diesel, gasoline and hydrous ethanol in February as the short month, the Carnival holiday and a second wave in the country's brutal battle against the coronavirus undermined sales, according to data released March 31 by the National Petroleum Agency, or ANP.
Brazil's Enauta expects to restart second offshore Atlanta production well in April Brazilian independent oil and gas producer Enauta expects to restart a second production well at the offshore Atlanta Field in April amid plans to move ahead with definitive development of the heavy oil producer, company officials said during a conference call April 1.
OPEC+ throws caution to the wind with deal to unwind oil production cuts After months of preaching caution and saying the time was not right to raise oil production, OPEC and its partners abruptly agreed April 1 to loosen their quotas and add more than 2 million b/d into the market by July.
BRAZIL DATA: Oil exports sink 12.4% on year in February Brazilian crude-oil exports contracted 12.4% year on year in February amid expectations that Petrobras will have fewer barrels available for overseas buyers in 2021, according to data published March 31 by the National Petroleum Agency.
OIL FUTURES: Crude rallies more than 3% as OPEC+ announces production cut phaseout Crude oil futures finished a volatile session higher amid reports the OPEC+ group has agreed to gradual production increases over the next three months.
BUNKERWORLD: Marine fuel prices bearish despite pockets of tightness, congestion **Fujairah to see improved 0.5%S FO supply **Tightness at Rotterdam likely to linger **Poor visibility, weather at USGC may cause delays
Crude MOC: Sour complex strengthens ahead of OPEC+ meeting The gains come as the market keenly awaits the outcome of the OPEC+ meeting later in the day, where production quotas for May are expected to be decided.
RUSSIA DATA: March Spimex gasoline traded volumes rise on month Volumes of fuel oil sold were 111,605 mt in March and 78,195 mt in February
FEATURE: WAF crude exporters in quandary amid fading Chinese demand **Chinese 'teapots' favoring cheaper Iranian crude **Setback for Angola, Republic of Congo on falling Chinese demand **WAF flows to China near four-year lows
European fuel oil swaps volume traded in Platts MOC up to 370,000 mt in March **Fuel oil derivatives traded up sharply from Feb **Mercuria largest buyer with 34 trades
SPAIN DATA: Bunker fuel consumption plunges 18% on year in 2020 **Q4 2020 averages 8% lower than 'pre-pandemic' Q1 **Algeciras takes Spain's top spot for fourth month running
CHINA DATA: Easing port conditions lift independent refiners' crude inflows in March **About 10.5 mil mt/year capacity to be offline in Shandong during April **April new cargoes arrivals to be slightly lower from March levels
Weak product cracks, arb barrels to cap extent of Middle East crude OSP hikes: sources "Based on the market structure alone, lighter crudes such as Arab Light should see a hike of 50 cents/b," a trader said.
Chinese refiners weigh between Iraqi Basrah Medium crude's price discount, quality issues Iraq firmly held the three-largest crude supplier status in China in February.
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