ABS classes a floating wind farm WindFloat Atlantic, 20 kilometers off the coast of Viana do Castello, Portugal, has become the world's first offshore wind farm to be in class with a classification society, after its three 8.4
Cruise line asks court to overturn Florida "vaccine passport" ban Norwegian Cruise Line Holdings (NCHL) is pushing back on Florida Gov. Ron DeSantis' policy banning cruise lines (and other businesses) from requiring proofs of vaccination from customers. Yesterday, the cruise company filed
Wärtsilä reports encouraging results with zero carbon fuels Full-scale engine tests running on ammonia and hydrogen as fuels have recently been carried out in Wärtsilä's engine laboratory in Vaasa, Finland. The tests are being performed to assess the optimum engine
Report slams Surface Navy culture, leadership A report commissioned by four members of Congress in the wake of several high-profile Navy losses of lives and warships makes disturbing reading. Entitled "A Report on the Fighting Culture of the
EU proposes tax on all shipping emissions and to limit polluting fuels The European Commission has unveiled its plan to tax almost 70% of emissions from voyages to the European Economic Area...
Maritime's absence from UK decarbonisation plan criticised by trade body The UK government announces plans to decarbonise its transport industry, but with scant mention of maritime and international shipping beyond...
Danaos agrees $260m deal for six widebeam containerships All the vessels were built in 2014-2015 and are currently on charter to Maersk and Ocean Network Express with an...
South Africa supply chains seize up amid civil unrest A number of terminals are partially or fully closed. Carriers have warned that supply chains will be disrupted
The British P&I club writing hull and machinery 'We're very clear of our objective, it's to make a return for the mutual membership. We're not here to sustain...
Seafaring in 2050 will be a nightmare, unless... Forecasting the role of the seafarer in 2050 follows similar predictions for the evolution of world trade and the development...
ONE withdraws boxship from service after grounding Ocean Network Express' MOL Charisma has been taken out of service for repairs in Vung Tau after running aground on...
Most bulk carriers won't comply with EEXI rules, says Houlder A study carried out by the design and engineering consultancy found that 68% of the bulk carrier fleet will need...
Companies remain confused over UK's freeport plans Most firms still do not have a full understanding of how UK freeports will operate and be governed, several months...
Cyprus emerges as sanctions workaround for Venezuela oil shipments Owners have found corporate workarounds to keep crude flowing even as the Greek Union of Shipowners discourages its members from...
Boxship orderbook ratio could reach 25% A year ago, capacity on order was under 10% of the existing fleet. That has now doubled and new orders...
Ship recycling rates near record levels Demolition prices have doubled in the past year and are up 25% as compared with April this year. The supply...
Greek shipping tribute to Dalex Shipping founder George Dalacouras 'George Dalacouras will be sorely missed by the Propeller Club family and throughout the Greek shipping community' - the Propeller...
KSOE wins orders for four LNG carriers Deals have pushed the South Korean builder's new orders so far this year to $14.8bn, almost hitting its annual target...
Daily Briefing Free to read: Largest stock draw 'in a decade' dampens tanker rates outlook | Coal trades at risk from short-term disruptions...
Chinese port majors team up through cross-holding agreement China is aiming to further consolidate its domestic port sector and to establish 'world-class port clusters'
East coast ports continue to see record throughput 'Our port continued to break cargo activity records in May when we saw an increase in total volume of more...
Shipping counts the cost of handling stowaways With stowaways costing as much as $300,000 to disembark, getting seafarers invested in ship security is needed to help prevent...
Los Angeles port braces for Yantian catch-up, peak season combo Wave of cargo delayed by COVID outbreak in Yantian, China, is starting to hit California's already strained terminals.
FAA gives passenger airlines 6-month extension for cabin cargo The FAA is giving airlines until the end of the year to run passenger freighters with cargo on seats and other parts of the cabin...
South Carolina Ports Authority boasts record 2021 fiscal year Fiscal year 2021 was not only a banner year for South Carolina Ports but also a roller coaster one as volume lows in July 2020...
Port of Vancouver congestion mounts despite resumed rail service With 39 ships at anchor, the Port of Vancouver is continuing to feel the strain as CP and CN resume service in a fire-afflicted region...
INDIA DATA: June fuel oil consumption rises 13% on month as local lockdowns lift India's domestic fuel oil consumption rose 13.4% month on month to 533,000 mt in June, latest Petroleum Planning and Analysis Cell data showed, even as refiners reduced operating rates amid weaker margins for refined products.
ATLANTIC SUPRAMAX QUARTERLY: Historic bull run sets tone for remainder of year Atlantic Supramaxes have continued their upward ascent in the second quarter, following on from an auspicious start to 2021 with an atypically strong Q1, with almost all major trading routes in the Atlantic achieving record highs.
FEATURE: Iran's summer of power cuts could be worst yet with new capacity on hold Iran, despite being OPEC's fourth-biggest crude oil producer, faces an unprecedented summer of electricity cuts as power plant disruptions and a lack of investment in new capacity leave output far below demand.
US DATA: EIA says total US diesel demand weakens to six-month low as stocks build Total US ultra low sulfur diesel stocks saw a build for the second consecutive week, reaching a 13-week high as demand fell to a six-month low.
Limetree Bay refinery files for bankruptcy ahead of DOJ environmental complaint Limetree Bay filed for Chapter 11 bankruptcy in the United States Bankruptcy Court of Southern Texas, as it looks to evaluate options for its 176,400 b/d St. Croix, US Virgin Islands, refinery, including its sale, the company said in a statement.
EC to tighten carbon market supply by 4.2%/year under 'Fit for 55' legislation The annual carbon caps under the EU Emissions Trading System will tighten supply of carbon allowances by 4.2% per year out to 2030, according to draft legislation unveiled by the European Commission July 14.
S Africa's largest refinery Sapref declares force majeure on civil unrest: sources South Africa's largest refinery Sapref has shut down due to social unrest caused by the arrest of former President Jacob Zuma, pushing the refiner to declare majeure on the supply of all oil products, sources close to the matter said on July 14.
EC unveils broad roadmap for cutting greenhouse gas emissions by 55% by 2030 The European Commission on July 14 unveiled one of its most ambitious packages of legislative proposals ever, publishing plans for new legislation across numerous sectors designed to achieve its target of a 55% cut in greenhouse gas emissions by 2030.
OIL FUTURES: Crude, products prices plunge on US demand weakness, potential OPEC+ deal Crude oil and refined products prices plunged July 14 on a confluence of factors including reports of weakening demand in the US and China, a likely end of the OPEC+ stalemate with the United Arab Emirates, and the overarching fear of increasing COVID-19 cases in much of the world from the fast-spreading delta variant.
New Fortress begins commercial operations at LNG receiving terminal in Mexico New Fortress Energy, a growing player in supplying LNG to power plants and industrial customers in the Caribbean and Latin America, has begun commercial operations at a receiving terminal on Mexico's Pacific Coast, the company said July 14.
US refined products stocks jump on falling demand as prices plunge US gasoline and distillate stocks rose in the week ended July 9 despite an unexpected dip in refinery utilization as implied demand plunged following the Fourth of July holiday break, US Energy Information Administration data showed July 14.
Panama Canal Authority extends east lane maintenance through July 17 The Panama Canal Authority has extended for the second time ongoing maintenance on the waterway's east lane at the Gatun Locks through July 17, pushing the maintenance window seven days past the original July 4-10 expected outage.
EU proposes curbs on shipping fuel emissions, minimum tax rate on marine fuels The European Commission proposed July 14 limits to greenhouse gas content of energy used by ships, a minimum taxation rate for marine fuels, and the inclusion of shipping emissions in the EU's emissions trading scheme for the first time under a raft of measures to decarbonize the region's transport sector.
Australia Origin Energy looks for bigger role in renewable hydrogen These projects are still in the early stages - feasibility stage or pre-FEED (front-end engineering design), the company spokesperson added.
Northwest European 50 ppm barge differential drops to three-month low The 50 ppm FOB ARA barge market was assessed at a $5.75/mt discount to the ICE LSGO front-month futures contract July 13, unchanged from the previous day and the largest discount since April 7.
FUJAIRAH DATA: Oil product stocks rebound as fuel oil, gasoil exports slow Oil product stockpiles at the UAE Port of Fujairah rebounded to a two-week high after a slowdown in exports of fuel oil and gasoil.
Maritime industry seeks more clarity on enforcement of 0.5% sulfur limit The document seeks clarity on a number of issues including on what basis authorities can determine non-compliance with MARPOL sulfur limit.
OIL FUTURES: Crude stays stable amid mixed outlook, strong dollar weighs "Oil markets are likely to remain volatile until there is clarity on OPEC+ production policy," the IEA said.
Middle East-Japan VLGC rates fall to 4-month low, but recovery expected On July 13, the Middle East-Japan freight was valued at $33/mt, with some room for declines, shipping sources said.
China's CNCEC to build refinery, petrochemical project in Iraq: oil ministry The 300,000 b/d refinery will be built at the port of Fao on the Gulf.
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