USCG awards four more FRCs to Bollinger The U.S. Coast Guard has exercised a contract option, worth about $212.9 million, with Bollinger Shipyards of Lockport, La. It covers production of four more Sentinel-class fast response cutters (FRCs) and associated
Vard books contracts for 2 + 2 CSOVs Fosnavåg, Norway, headquartered Rem Offshore has signed contracts with Fincantieri's Norwegian-based subsidiary Vard for the construction of two offshore wind construction service operations vessels (CSOVs) with an option for two additional vessels.
Seaways sheds 12 ships following Diamond S merger New York, N.Y., headquartered International Seaways (NYSE: INSW) yesterday reported its results for the second quarter of 2021. Although the company's successful merger with Diamond S Shipping Inc. completed after the close
Judge: Florida can't ban NCLH requirement for proof of vaccination A preliminary injunction issued Sunday by U.S. District Judge Kathleen Williams temporarily enjoins the state of Florida from enforcing its ban on the requirement for proof of COVID-19 vaccinations on Norwegian Cruise
Fire seen on Iran-linked tanker berthed at Syria's Latakia port Iranian media pointed out the blast coincided with a meeting between Israel's incoming national security adviser and their counterparts in...
Maritime operations limp on inside Beirut's unrepaired blast zone In the wake of the economic and political meltdown that has left Lebanon effectively operating as a bankrupt state, the...
Serious investment needed if UK maritime is to hit net-zero targets UK Prime Minister Boris Johnson has called for the elimination of fossil fuel engines in cars but decarbonisation of ships'...
Delta variant a 'speed bump' to product tanker market recovery Product tankers faring better than crude rates as International Seaways posts premerger second quarter of the year loss of $18.8m
NYSHEX brings enforceable contracts to European market Inconsequential contracts between shippers and carriers damage both sides of the transaction. NYSHEX'S carrier agnostic platform seeks to bring some...
Opposing sides line up over US shipping regulation reform Export organisations have welcomed moves to bring carriers to heel. But the lines warn of unintended consequences if the law...
Shipping community steps up again in wake of Greek wildfires Prominent shipowners Panos Laskaridis and Evangelos Marinakis among the first from the industry to respond to the plight of thousands...
Indonesia's export ban could add to China's coal pain Indonesian government has reintroduced sanctions for producers failing to meet their domestic market sales obligation, with 34 companies currently banned...
Asian resilience trumps reshoring to North America The new US-Mexico-Canada Agreement has to tackle protectionism before North America can take on the Asian manufacturing powerhouse. Investors have...
Wan Hai profits surge on hot transpacific trade Taipei-listed company said the shortage of equipment and port congestion, which constrain vessel supply and push up freight rates, has...
Daily Briefing US imports continue to skew global demand picture | Box chartering boom to extend | Smoking hot reefer rates |...
Infected crew on Grand Progress rescued The vessel had been stranded in Zhoushan waters for more than a week before the rescue operation started
NYK joins Eneos green hydrogen supply project NYK and its partners plan to use 10,000 dwt-class chemicals tankers, instead of tanker containers adopted previously, for the Eneos project to...
Enesel lifts LR2 orderbook to five tankers Lemos brothers' company exercises options at China's Shanghai Waigaoqiao Shipbuilding and South Korea's Daehan
Pandemic forces air cargo group to postpone September conference The International Air Cargo Association has been waiting two years to hold its big annual conference. Members will now have to wait another six months...
Port Houston sees $75B in trade in first half of 2021 Port Houston's biggest international trade partners were China, Mexico and Brazil during the first half of the year.
Maestro choreographs way around O'Hare cargo gridlock In the chaotic supply chain world of 2021, airport terminal operators are moving away from the airport to process cargo because existing facilities are full.
August to be record for retail imports, NRF says August is likely to see a new monthly record for retail container imports, with 2021 doing the same. However, ongoing supply chain dislocation clouds how...
Ocean carriers: Shipping reform act 'doomed to fail' Bipartisan bill in Congress makes reforms to U.S. shipping regulations for the first time since 1998.
CHINA DATA: July crude imports fall 20% on year to 9.75 mil b/d China's crude imports fell 19.6% year on year to 9.75 million b/d in July, General Administration of Customs preliminary data released Aug. 7 showed.
Asia middle distillates: Key market indicators for Aug 10-13 Asian middle distillate markets started the Aug. 10-13 trading week on a steady-to-firm note, with dented East-West arbitrage economics and rising COVID-19 infections pushing gasoil market participants to the sidelines.
Libya's NOC says oil pipeline leak to lower Gallo oil field output by 70,000 b/d Oil production at Libya's Gallo field will drop by as much as 70,000 b/d after an oil pipeline leak that occurred late Aug. 9, the state-owned National Oil Corp. said Aug. 10, as the OPEC member's poor energy infrastructure continues to hamper its production plans.
Mediterranean, Black Sea sweet crude exports fall 145,385 b/d on month in July: Kpler Exports of Mediterranean and Black Sea sweet basket crude -- which includes, Azeri Light, CPC Blend, Siberian Light, Es Sider and Saharan Blend -- averaged 2.5 million b/d in July, down 145,385 b/d from June, showed data from commodity data company Kpler on Aug. 10.
Canadian Pacific ups offer for Kansas City Southern in bid to break up CN deal Canadian Pacific Railway said Aug. 10 it is making a counteroffer for Kansas City Southern of more than $27 billion in a bid to break up rival Canadian National's pending acquisition of KCS that has moved forward amid an environment of great regulatory uncertainty.
INDIA DATA: July oil products demand up 7.9% on year to 4.3 million b/d India's demand for oil products in July rose 7.9% year on year to 16.8 million mt, or 4.3 million b/d, Petroleum Planning and Analysis Cell provisional data showed Aug. 10, as domestic demand for the majority of oil products has shown improvement after the second wave of coronavirus pandemic.
OIL FUTURES: Crude rallies over 2% as market shrugs off pandemic concerns Crude oil futures moved higher Aug. 10 as the market looked past demand slowdowns in Asia amid signs of continued growth in the US and Europe.
Torm to complete scrubber installations by Q2 2022, sees delayed tanker demand recovery **Platts FOB Hi-5 barges swap in contango through 2021 **Platts H1 UKC-USAC clean tanker rate down 36% on year **Mixed signals from oil markets for remainder of year
Rotterdam Hi-5 fuel oil spread hits three-month low **HSFO resists bearish fundamentals in crude complex **HSFO tightness in the Mediterranean pushes prices up
PODCAST: Red-hot container markets adopt unorthodox measures As exorbitantly high base rates are no longer the ticket to getting a box on a ship or a guarantee of timely delivery, the market has been shaped by a clutch of measures.
REFINERY NEWS: New Zealand's Marsden Point targets conversion by mid-2022 The final investment decision will be taken by the board of the company around the end of September.
ADNOC to sell blue ammonia to Japan's Idemitsu in clean energy push **ADNOC is targeting blue ammonia sales in Japan **ADNOC is building 1 mil mt/year blue ammonia facility
MALAYSIA DATA: June oil products output rises on demand, refining margins **Melaka refinery pushes out 10 ppm sulfur gasoil cargoes **Malaysia becomes biggest oil products supplier to Vietnam in H1
ULSD exports from Russian Black Sea port of Novorossiisk to fall 6% in Aug Lower exports come amid an unusually heavy refinery maintenance season in Russia which is expected to continue until the end of the quarter.
OIL FUTURES: Crude prices rise as buyers seek bargains, but demand concerns remain Any upside in crude oil prices may also be limited as OPEC+ has started ramping up oil production, adding to already fragile market sentiment.
Depressed rates weaken VLCC market, force owners to idle ships **VLCC rates low despite rising bunker fuel prices **Lower Chinese crude imports weaken VLCC market
South Korea to offer tax rebates for bunkering of LNG-fueled ships The government currently levies a surcharge on LNG imports at Won 24.20/kg (2 cents/kg), in addition to a 3% tariff on LNG imported during the peak winter season from October to March and 2% during the rest of the year, as well as a consumption tax of Won 30-60/kg.
Asia residual fuels: Key market indicators for Aug. 10-13 Traders said an oversupply of the IMO-compliant bunker fuel from coastal refineries is weighing on ex-wharf premiums and valuations of the delivered grade, despite steady bunker demand.
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