COP26: U.S. signs "Zero by 2050" declaration The U.S. is one of 14 countries signatory to a Declaration on Zero Emission Shipping by 2050 released at the COP26 conference in Glasgow yesterday. Interestingly, as well as countries such as
Crew change problems continue New national lockdowns, an increase in flight cancelations, travel restrictions, and increasingly strict crew change requirements, especially in Asia, are preventing seafarers from going back home after completing their contracts. This is
Second GEV compressed-hydrogen carrier design gains ABS AiP Perth, Western Australia-headquartered Global Energy Ventures (ASX: GEV) is pushing forward with its plans to develop compressed hydrogen tankers as a means of transporting green energy to regional markets. Back in July
Equinor unveils new floating wind foundation design Hoping to be successful in its ScotWind proposal, Norwegian based energy giant Equinor has now revealed its preferred floating wind foundation design for full-scale gigawatt (GW) commercial floating offshore wind. Called the
Matson commits to net zero GHG by 2050 One of the most iconic names in U.S. shipping, Honolulu, Hawaii, headquartered Matson Inc. (NYSE: MATX), has published new long-term environmental goals in a Sustainability Report 2020 Supplement that commit the company
Heddle Shipyards picked for cable ferry build A CAD 3.3 million (about US$2,6 million) investment by the Government of Ontario will see Canada's Heddle Shipyards build a new cable ferry for the route that links the province's Simcoe Island
Ferry Design: The boat is just one part of the solution There are a lot of moving parts to designing a ferry system, and the boat itself is just the one that floats. Ferries-and in particular commuter ferries-are components of overall transportation networks.
Shipping carbon levy support grows as 50 states back IMO action The Dhaka-Glasgow Declaration marks a significant shift in the scale of political backing for accelerated action within the IMO, but...
COP26: Net-zero camp boosted by US-Danish pledge, but success is far from certain Denmark's prime minister used the opening of COP26 to call for zero emissions by 2050 as more countries add their...
GoodBulk reports record quarter after capesize highs With majority of the fleet in the spot market, third-quarter revenues increased by 74%
Make charterers, not owners, pay for emissions, say EU shipowners EU shipowners' association also calls for dedicated fund to support marine fuel transition
Capesize bubble bursts as daily rates drop 64% in three weeks Weaker indicators out of China combined with lower iron ore volumes from Brazil and potentially Australia as the first-quarter approaches...
Maersk looks to long-term contracts for stable revenues The integration of its carrier and logistics business, and now airfreight, have helped Maersk increase contract volumes to more than...
Seanergy bullish on long-term outlook for capesizes Soaring third-quarter earnings reflect highest rates for a decade as well as new acquisitions
FSL Trust posts loss as spot tanker rates suffer Singapore-listed trust continues distributions to unit holders as investment climate in shipping seen as 'challenging'
Steamship chief says double-digit rate hike is 'solid step' 'It was necessary to make progress towards a balanced combined ratio. This is a very solid step in that direction...
ONE chief shrugs off boxship orderbook concerns Shipping lines 'have to do the next best thing' due the current unavailability of zero-emission fuels
Daily Briefing 'No indication' big fleets have edge on expenses - survey | Deviation from planned route led to Stellar Banner grounding...
Maersk expansion takes off with airfreight acquisition Maersk is to acquire airfreight specialist Senator Logistics and acquire more aircraft for its Star Air operation. Company reports record...
California ports start container dwell fee programme to tackle backlog 'We need our supply chain partners to make operational changes that will reduce dwell times, clear our terminals and make...
Air Canada rides auxiliary freighters to record cargo revenue Air Canada Cargo has been a strong pandemic performer, but the passenger side of the business is finally beginning to recover.
Shipping shares in sea of red as broader stock market rises Virtually every U.S.-listed shipping stock fell on a day that the S&P 500 hit a record high.
Maersk expands logistics supermarket with airfreight investments Shipping giant Maersk has transformed itself into a one-stop shop for logistics services and now is growing its airfreight capability.
58,900 long-dwelling containers now on penalty clock in LA, Long Beach A whopping 40,000 of those containers have been at the Port of LA for nine-plus days, which is considered lingering.
Cybercriminals selling access to shipping, logistics firm networks, report warns Cybercriminals have attempted to sell network access for multiple shipping and logistics firms, opening the door for devastating ransomware attacks in the global supply chain,...
Matson aims for net-zero fleet emissions by 2050 Matson set additional emissions-reduction targets Monday. The Hawaii-based shipping company plans to reach its goals by improving efficiency and accelerating zero-carbon fuels and technologies.
Fines aim to discourage shippers using LA port as makeshift warehouse The ports of Los Angeles and Long Beach are turning into makeshift warehouses. Officials hope new fines on lingering cargo will end the practice.
Shipping giant Maersk continues buying spree after best quarter ever Maersk expands air business after earning more in a single quarter than in any prior full year.
Brazil's independent truckers start strike, but impact limited Brazil's independent truckers walked off the job at midnight Nov. 1 to protest high diesel prices, but adhesion to the strike was light after the federal government won a series of injunctions over the weekend that will limit the labor movement.
US Senate panel eyes hearings on energy security in light of China military advances US Senate Energy and Natural Resource Committee members Nov. 2 expressed interest in holding both a closed and a public hearing on US energy security preparedness in the event of conflicts around the world, in light of reports of China's rising military capabilities.
Japanese refiner ENEOS cuts wholesale product prices by Yen 1,500/kl: sources ENEOS, Japan's largest refiner, cut domestic wholesale base prices for its five major rack oil products by Yen 1,500/kiloliter ($2.10/b), making the first decrease in 10 weeks, market sources said Nov. 2.
Container throughput at Gothenburg increases by 16% amid high transport demand Freight volumes at the Port of Gothenburg, Sweden continue to increase as demand for transport across Northwest Europe remains high as the world recovers from the coronavirus pandemic.
Polish bunker supplier Ship-Service says it's liquidating Polish bunker supplier Ship-Service said in a statement Nov. 2 that its shareholders had adopted a resolution to dissolve the company and carry out a liquidation procedure, which started Oct. 29.
Australian heavy sweet crude premiums rise, LSFO cracks strengthen The cash differentials for December loading barrels of Australia's heavy sweet crudes were firm amid resilient low sulfur fuel oil cracks on the month, trade sources said Nov. 2.
Oil flows to and from Sudan to resume after protestors agree to end blockade South Sudanese and Sudanese crude oil exports and oil product imports are expected to fully restart after protesters agreed to halt a blockade on roads and oil pipelines to and from the Red Sea port of Port Sudan, a senior oil official said Nov. 2.
Marathon streamlines portfolio towards renewables as refined product demand rebounds Marathon Petroleum, the largest refining company in the United States, is evaluating refining and midstream assets in its portfolio as it shifts focus and capital spending away from refining and towards renewable projects.
OIL FUTURES: Crude lacks direction ahead of OPEC+ meeting, US inventory numbers Crude oil futures settled mixed Nov. 2 as the market looked toward the upcoming OPEC+ meeting and US inventory reports for direction.
KCS resumes rail operations at Mexico Lazaro Cardenas port after 91-day blockade Kansas City Southern resumed rail operations from the Mexican port of Lazaro Cardenas on Nov. 1 after 91 days of a protest blockade and $25 million in losses.
COP26: India's PM Modi commits to net-zero emissions by 2070 In other new commitments, Modi said India would reduce the carbon intensity of its economy by 45% by 2030.
Ammonia supply down on lower natural gas supplies: trader Middle East prices also were on the rise with a deal heard at $715/mt FOB Middle East loading H2 November.
Platts launches daily Asia bitumen assessments from November 1 The new assessments reflect two grades of bitumen basis FOB Singapore and FOB South Korea.
ADNOC Global Trading Ltd to join Asia gasoil physical MOC Platts will publish all relevant information from ADNOC Global Trading Ltd accordingly.
Weak demand caps Hong Kong Nov ex-wharf low sulfur marine fuel premiums The persistent weak demand for downstream delivered marine fuel 0.5%S kept Hong Kong well supplied with low sulfur fuel oil bunkers, industry sources said.
INTERVIEW: Sing Fuels eyes geographic forays amid decarbonization efforts The Singapore-headquartered company revenues jumped 45% year on year in the financial year ended September, with its total marine fuel sales volumes up 20% on the year, Sonnich Thomsen, managing director bunkers, said.
Singapore marine fuel 0.5%S bunker premium at multimonth highs on tight barge availability Berthing congestions have extended the time required for bunker barges to refuel, thus restricting the availability of slots for prompt deliveries, market sources said.
COP26: Biden says administration 'working overtime' on climate strategy The White House, however, released a long-term strategy Nov. 1 to meet its 2050 goal, with a focus on actions this decade. And it noted plans to work with Congress to provide $3 billion annually in climate adaptation finance, intended to help those most vulnerable to climate change worldwide.
COP26: Southeast Asia moves on climate with A$2 bil Australia funding, net zero targets In a separate joint statement on Nov. 1, PM Morrison, minister for emissions reduction Angus Taylor, and minister for foreign affairs Marise Payne said Australia's new A$2 billion commitment will be spread over the next five years to developing countries in the region.
Primorsk November ULSD exports to rise 26% on month to 1.5 mil mt The Northwest European ULSD market was fairly balanced in October, with volumes of oil in storage caverns and tanks falling due to good demand and a strong backwardation in the futures market.
Primorsk November ULSD exports to rise 26% on month to 1.5 mil mt The Northwest European ULSD market was fairly balanced in October, with volumes of oil in storage caverns and tanks falling due to good demand and a strong backwardation in the futures market.
COP26: Southeast Asia moves on climate with A$2 bil Australia funding, net zero targets In a separate joint statement on Nov. 1, PM Morrison, minister for emissions reduction Angus Taylor, and minister for foreign affairs Marise Payne said Australia's new A$2 billion commitment will be spread over the next five years to developing countries in the region.
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