SAFE Boats adds to business development team Bremerton, Wash., based aluminum boats specialist SAFE Boats International reports that Mark Stott has joined it as Business Development Director for the U.S. Western Region for government customers and private/commercial customers worldwide.
Fairbanks Morse opens new service center Beloit, Wis., headquartered engine manufacturer Fairbanks Morse has opened its 8,000-square-foot Mayport Service Center at 950 10th Street, Building B in Jacksonville Beach, Fla. The facility represents a $350,000 investment and places
OPINION: Will Ferrell is right, Norway is a model for energy policy by Aaron Smith, President and CEO, OMSA Like most Americans, I spent the Monday following the Super Bowl thinking about the ads. What stuck in my mind was GM's ad featuring Will
Waterways Council names Dustin Davidson as Government Relations Director Bringing extensive Capitol Hill experience to the job, Dustin Davidson has been named Director, Government Relations of Waterways Council, Inc. Davidson most recently served as professional staff member for the House of
CRS issues update on Waterways Commerce Cutter The Congressional Research Service (CRS) has released an updated "In Focus" brief on the U.S. Coast Guard's Waterways Commerce Cutter (WCC) program, which envisages procuring up to 35 replacements for the Coast
Brunvoll to equip Van Oord cable layer The next generation cable layer recently ordered by Van Oord will have a complete propulsion and maneuvering system supplied by Molde, Norway, based Brunvoll AS. As we reported earlier, (see story) the
Shipping faces "safety gap" as it transforms A white paper released by classification society DNV GL identifies a looming "safety gap" between shipping's existing approach to safety risks and its plans for greater digitalization and the adoption of alternative
Danaos reports 'outstanding turnaround' for the container industry Dr Coustas said market participants were 'caught by surprise as the chronic underinvestment in capacity coupled with a sudden resurgence...
Maersk sees continuing surge of imports at its North American terminals The Lunar New Year has resulted in 'no significant' slowdowns in demand out of Asia and there could be missed...
MR tanker rates rally on US cold snap Closures of US Gulf refineries restrict pipeline shipments to east coast, spiking product prices and opening up arbitrages
P&I clubs 'getting big rate rises' as renewal deadline looms 'I'm told by my underwriting people that we are getting what we want, largely. I think we're doing it, I...
IMO working group to examine Gulf of Guinea piracy The International Maritime Organization will form a piracy working group at its Maritime Safety Committee session in May amid 'deep...
Dry bulk fundamentals attracting post-coronavirus investment, says Cleaves Cleaves Securities head of research Joakim Hannisdahl is very bullish about the dry market. He says generalist money is looking...
Does shipping need its own ammonia rules? The ability to safely use ammonia on ships will be a key factor for its success in the maritime industry...
Tankers upgraded on outlook for post-pandemic demand Tanker earnings seen as lacklustre until fourth quarter but asset and share prices have bottomed, says Norwegian investment bank
AI-powered platform aiming to improve ship efficiency Bearing has raised $3m from its two investors US-based AI Fund and Japanese conglomerate Mitsui & Co
Shipowners call for EU low-carbon fuel requirements on suppliers The European Community Shipowners' Association wants the European Commission to impose low-carbon fuel production targets on fuel suppliers and to...
ABB's data integration platform bridges digital gap ABB has worked across several industrial sectors. It found that digital silos is a common problem. The Ability Genix platform...
VLGC spot earnings fall 26% in a week A six-month time charter with further options and an Angolan tender for the second half of March should help revive...
Shipping stocks are suddenly revving up across the board It's not just container stocks rising. Shipping stocks are up for everything from bulkers to tankers to gas carriers.
Amazon Air paves way for third-party delivery Amazon is an e-commerce rocket ship. Making those deliveries possible is Amazon Air, which is growing so fast it could make it possible for more...
Career Tracks: Plug Power charts growth with new CMO Preeti Pande, the hydrogen solution provider's chief marketing officer, comes with extensive fuel cell industry experience and a Ph.D.
Contango in prompt LSGO hits narrowest level in 11-months despite low demand The contango in prompt ICE low sulfur gasoil futures reached the narrowest level in 11 months on Feb. 15 at 75 cents/mt, as lower supply helped to balance low demand in the European distillates markets and the energy complex remained buoyed by vaccine hopes and OPEC+ cuts.
VLGC rates in steepest freefall in two decades, hopes on return of Chinese LPG trade Very Large Gas Carrier, or VLGC, rates extended their sharpest freefall in around two decades to seven-month lows at $37/mt, S&P Global Platts data showed, with more short-term downside seen, on low shipping activity and a closed Western arbitrage, shipping sources said Feb. 16.
Only scrubber-fitted VLCCs seeing positive earnings as bunker prices spike: sources The rising discounts high-sulfur fuel oil is enjoying over its low-sulfur cousin have resulted in a clear two-tier market for Very Large Crude Carriers, where tankers with scrubbers are showing daily earnings, while those without are running into losses, market participants said Feb. 16.
Glencore gets pandemic trading boost despite weaker volumes Mining and commodity giant Glencore posted a 41% jump in trading earnings for 2020 as a spike in market volatility during the upheaval caused by the COVID-19 pandemic offset a slide in its traded volumes of oil and metals.
Baltic Sea ice-class Panamaxes shatter 14-year records for time-charter rates Time-charter rates for Panamax and post-Panamax dry bulk ships were heard fixed in the market at $100,000/d or more Feb. 16, causing a stir among market participants.
IMO 2020 has 'changed attractiveness' of Suez Canal bunkering: ports consultant Some 18,000 ships passing through Egypt's Suez Canal every year are using the Europe/Mediterranean region and Houston to fuel up after the introduction of the International Maritime Organization's low sulfur fuel mandate last year "changed the attractiveness" of Suez Canal bunkering, according to a ports consultant.
European 0.5%S marine fuel crack hits double figures on run cuts, eastern demand The European 0.5% sulfur marine fuel crack hit double figures Feb. 15 for the first time since Feb. 20 last year, as reduced refinery runs continued to constrain availability while a pull of product eastward added pressure on supply.
US Gulf Coast refined product prices jump as subfreezing weather shuts refineries Extreme cold weather is wreaking havoc along the western Texas Gulf Coast, as record-high demand for electricity is creating power shortages, shutting down refineries and petrochemical plants, while sending market players scrambling for internet access as power outages rotate throughout the region.
Global oil prices, more than improved demand, push Latin America bunker values The strength seen in Latin America bunker fuels so far in February is mainly related to advances in global oil markets, as major regional hubs, such as Panama and Brazil, have risen in tandem with those international markers, according to S&P Global Platts data and market sources.
US crude inventories likely lower as refinery runs hold, exports grow US crude inventories likely continued to fall in the week ended Feb. 12, as refinery runs were stable while crude exports climbed, analysts surveyed by S&P Global Platts said Feb. 16
OIL FUTURES: Refined products lead complex higher on Texas outages Petroleum futures settled higher Feb. 16, as frigid temperatures cut into refinery operations and oil production in Texas.
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
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