Carnival CFO: We've enough liquidity to get through 2021, even with zero revenues Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) today reported a U.S. GAAP net loss of $2.2 billion and adjusted net loss of $1.9 billion for the fourth quarter of 2020. The
All American Marine books research vessel contract Bellingham, Wash., shipbuilder All American Marine has won a contract to construct a research vessel for Bluetide Puerto Rico. The 73-foot by 26.7-foot aluminum catamaran, will be constructed to USCG Subchapter T
UltraShip opts for Wärtsilä Fleet Operations Solution Gentofte, Denmark, based UltraShip is to install the Wärtsilä Voyage Fleet Operations Solution (FOS) across its entire fleet of 18 LPG tankers. The solution automatically optimizes the route and speed of vessels,
Huntington Ingalls makes promotion at Ingalls Shipbuilding Huntington Ingalls Industries (NYSE: HII) reports that Keith Munn has been promoted to vice president, business management, and chief financial officer for Ingalls Shipbuilding. In his new role, he will be responsible
Wärtsilä picks Corvus Energy for Harvey Gulf battery retrofits Corvus Energy reports that it has received an order from Wärtsilä for four energy storage systems (ESS) for installation in offshore support vessels operated by New Orleans headquartered Harvey Gulf International Marine.
Great Lakes Dredge books contracts worth over $60 million Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) today reported the receipt of several major dredging awards totaling $60.9 million that will be included in the company's year-end 2020 backlog number. The awarded
No Nor-Shipping in 2021 There will be no Nor-Shipping event in Norway this June. The organizers have taken the decision to postpone the exhibition and its associated activity program, pushing the event back to January 10-13,
KSOE wins $182m twin VLCC order KSOE is a major builder of VLCCs, having won 65% of the total orders for this vessel type in 2020...
Global gas production down 3.6% in 2020 but LNG demand set to grow Still, global natural gas production is expected to grow by 24% to 4.9trn cu m in 2040, Rystad said, with most...
IMO appoints Hoenders as emissions policy chief Mr Hoenders had been acting head of the department since early 2020 and was recently confirmed as permanent head, responsible...
Lloyd's Register assembles decarbonisation advisory panel Lloyd's Register taps Maersk, Carnival and Orsted representatives as well as government and NGO experts as first members of its...
Capesizes lead dry bulk gains Healthy enquiries and tight tonnage in both basins were cited as reasons for the continued upswing in the capesize segment...
US designates Yemen's Houthis as a terrorist group The US decision is designed to deter outsiders from transacting with the Iran-backed rebels. But there are fears the move...
Aon launches fuel insurance hedge policy for shipping 'If you are a smaller operator without the sophistication to go into the fuel purchasing strategy markets, this provides low...
Widening fuel spreads will benefit scrubber users Narrow fuel spreads through 2020 lengthened the payback time for scrubber investments to beyond three years. With fuel spreads expected...
Shippers warned to prepare for bunker surcharge increase The pandemic-driven fall in the price of oil mitigated the impact of new sulphur rules introduced in the past year...
Yangzijiang wins orders for four ultramax newbuilds from Meghna Group Delivery is scheduled for between the second half of 2022 and first half of 2023. A regular ultramax dry bulker...
Daily Briefing Free to read: Regulation is key to shipping's green push, Lloyd's List survey finds | Container lines: Profiting or profiteering...
Relief for crew of bulker stranded off China for six months With the vessel Jag Anand about to resolve its crewing situation, elsewhere, the MSC-owned Anastasia is the other vessel with...
South Carolina Ports continues riding volume wave The opening of the Hugh K. Leatherman Terminal and deepening of Charleston Harbor are expected to make for an even brighter 2021.
New world record set for shipping rates: $350,000 per day An LNG ship is now earning more than any other vessel in history. Extreme weather in Asia has propelled LNG rates into the stratosphere.
Titan Airways to operate world's second A321 converted freighter A new type of air cargo plane is entering the market to much fanfare. The Airbus A321 has many capabilities. Titan Airways is getting the...
Career Tracks: Dachser promotes CFO Eling to CEO Dachser promotes Burkhard Eling to CEO; GlobalTranz hires Bryan Foe as SVP; the Containerization & Intermodal Institute appoints Randy Bayles to its board; and Illinois...
Don't expect rate relief from container-ship order spike Even after a wave of just-ordered container ships is delivered by yards, cargo shippers are unlikely to see lower freight rates.
Crude rally stalls amid fresh lockdowns, stronger dollar Pandemic-related demand concerns weighed on gasoline cracks.
IEA plans 'roadmap' to 2050 net-zero emissions ahead of COP26 summit: Birol **Structural decline in emissions, oil demand unlikely post-pandemic **IEA/UK clean energy summit in March paves way to COP26
AMERICAS BUNKERS: Key market indicators Jan. 11-15 **Panama pricing takes direction from firming USGC values **Vancouver seeing demand fundamentals improve **Houston spot 0.5%S markets dealing with supply issues: sources
Northern Sea Route 2020 cargo volumes rise 4.6% on year: Rosatom Route closed to shipping for about half the year.
EMEA light ends: Key market indicators European gasoline and naphtha flat prices have hit highs not seen since the start of the coronavirus pandemic as strength in crude oil alongside gasoline and petrochemical demand have helped lift the complex.
REFINERY NEWS: Estonia drops plans for new shale oil refinery Following a feasibility study, Estonia's Eesti Energia and shale oil producer Viry Keemia Group have decided to stop a project to build a new shale oil refinery
Norway oil and gas industry says CO2 tax hike will require mitigation **Extra tax take should be earmarked for industry help **Tax hike represents "substantial cost increase" **Government promises offsetting tax reductions
UAE reopens sea border with Qatar after ending trade embargo The UAE has resumed business via air, land or sea with Qatar and any previous circulars issued by the UAE Maritime Administration relating to restrictions on dealing with Qatar have been abolished, the Port of Fujairah Authority said in a notice to mariners on Jan 8.
REFINERY NEWS ROUNDUP: More companies in Europe eye green hydrogen ITM Power and Orsted will conduct a feasibility study to produce green hydrogen at offshore wind farms in Europe as part of a consortium that has received EU funding, ITM Power said.
Goldman sees Brent hitting $65/b by mid-2021 on sharp demand rebound Vaccine roll-out seen triggering demand boost.
Iran signs 8 more oil projects as part of plan to boost output by 355,000 b/d **Iran pumped avg 2.03 million b/d in 2020: S&P Global Platts **Latest new projects set to add 95,000 b/d **Plan to boost oil output started in January 2019
Crude MOC: Sour complex firm as OSP issuance raises optimism Benchmark cash Dubai edged higher as key Middle East producers issued official selling prices, clearing the way for March-loading trade to kick off.
Libyan surge, slipping compliance push OPEC+ output up sharply in Dec: Platts survey **OPEC+ output at 7-month high, compliance down to 98.5% **OPEC pumps 25.43 mil b/d, up by 220,000 b/d **Non-OPEC allies increase production by 60,000 b/d **Saudi output 9.01 mil b/d; Russia pumps 9.10 mil b/d
Q1 2021 an opportunity for containers to restock amid bullish fundamentals Strong demand supported by vaccine shipments, Lunar New Year.
RUSSIA DATA: Dec refining throughput down 7.4% on year at 23.065 mil mt Russian refineries processed 23.065 million mt (about 5.4 million b/d) of crude in December, down 7.4% year on year but up 3.5% from November, according to energy ministry data released Jan. 11.
INTERVIEW: MiQ eyes role for methane emissions standard in global gas trade **MiQ partnership developing new certification system **Independent third-party system for grading gas supply **Buyers can choose 'differentiated gas': MiQ's Tijbosch
CHINA DATA: Shandong independent refineries' 2020 average run rate rises 6 percentage points **2020 crude consumption up 10% **Dec run rate falls to 73%, from 76% in Nov **Crack lesser Oman crude in 2020
TENDER DATA: Sri Lanka's Ceypetco tender seeking 180 CST FO for end-Jan goes unawarded Ceypetco procures fuel oil on behalf of West Coast Power Pvt. Ltd., and other local power companies for power generation. The company received only one offer for its tender, which was ultimately rejected on account of the specifications not matching the requested specification.
Asia residual fuel market - Key market indicators this week The Singapore Marine fuel 0.5%S market witnessed tepid downstream bunker demand in the first trading week of 2021, although bunker traders have pegged their hopes on a demand recovery for the second half of the month.
MALAYSIA DATA: Production of oil products, LNG declines in November Malaysia slashed domestic production of gasoline, kerosene, fuel oil, gasoil, LPG, naphtha and LNG in November compared to the same month in 2019, according to preliminary data from the Department of Statistics on Monday, Jan. 11.
Transit of Kazakh oil via Russia disrupted due to cold weather **Transneft sees deliveries resuming within 3 days **Outage caused by adverse weather
Dirty tanker fixtures fall 16% in 2020 as COVID-19 weighs: Poten **VLCC fixtures down 7% on year in 2020 **Suezmax fixtures down 23% **Aframax fixtures down 20% a
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