Eight more indicted in Coast Guard exam scam case The U.S. Attorney's Office for the Eastern District of Louisiana reports that eight more individuals have been indicted in the long-running case involving a test score-fixing scheme at the U.S. Coast Guard's
Container shipping earnings hit all time high Move over Facebook, Amazon, Netflix and Google, you're currently being outperformed financially by the ocean carrier giants. Actual net income for the container shipping industry in third quarter 2021 was $48.1 billion,
Siemens Energy to equip two new NOAA research vessels Houma, La.-based shipbuilder Thoma-Sea Marine Constructors LLC has awarded Siemens Energy a contract to supply power, propulsion, and control systems, along with battery storage technology, for the two research vessels on order
Great Lakes Dredge & Dock awarded Houston Ship Channel contract Houston-headquartered Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) reports the signing of a $92.5 million dredging contract for the Houston Ship Channel Widening and Improvement Project 11. This is the first
Federal Marine Terminals adds new terminal at Port Itawamba Federal Marine Terminals (FMT), a subsidiary of Fednav Limited, a Canadian-based shipping company, recently announced a new river terminal on at Port Itawamba in Fulton, Miss. The operating agreement was signed back
Vicksburg welcomes historic dustpan dredge home The Vicksburg Engineer District welcomed the dredge Jadwin and crew home to the Vicksburg, Miss., Harbor on November 18, just in time for the holidays. The dredge and crew of around 50
Pre-planning of crew changes remains critically important By Ian Boyd, Group Sales Director - Shipping, GAC Group Conditions for crew changes around the world have improved in the last six months, but only incrementally, and the limited availability of
AWO appoints VP - Pacific Region The American Waterways Operators reports that Peter Schrappen will join the organization's staff as Vice President - Pacific Region on December 13. Schrappen, who has 23 years of legislative and advocacy experience,
Wärtsilä launches new lighter, smaller IQ Series scrubber Wärtsilä's exhaust treatment business unit, based in Moss, Norway, has launched a new series of exhaust gas scrubbers, the IQ Series. The series has an innovative design that allows the same exhaust
EU states block zero-emissions resolution at IMO A host of EU members as well as China, Russia and India lined up to oppose a resolution for the...
IMO's Lim calls for shipping to 'lead by example' on climate Mr Lim opened the Marine Environment Protection Committee meeting with a plea for states to up their ambition on cutting...
Wärtsilä's compact scrubber targeted at space-restricted container sector The IQ Series of scrubbers has attracted interest from tanker owners looking to retrofit technology that helps them to meet...
US inventories levels rebound More stock is being held by wholesalers that by retailers. Increasing inventories may help to reduce demand but is unlikely...
Top 10 in regulation 2021 The International Maritime Organization, knocked from the top spot this year, faces fundamental questions over its fitness to grapple with...
Weak dry bulk market is forecast for near term A softer dry bulk market is forecast for the first quarter of next year due to lower iron ore demand...
Time to act now to decarbonise shipping As the International Maritime Organization opens the latest round of talks to tackle shipping's contribution to climate change, UK shipping...
Daily Briefing All eyes on MEPC77 | Shipping in a time of Covid | China legal caution creates AIS issues | China...
Yangzijiang orders four kamsarmax at own yard Newbuilding orders are expected to decline next year as boxship owners, the main spender this year, will be likely to...
Solomon Islands urges shipping to back net zero target by 2050 The Pacific island nation warns that not supporting a resolution would hurt IMO progress on decarbonisation
CP to resume Vancouver rail service Tuesday Canadian Pacific says it will reopen its rail link with the Port of Vancouver on Tuesday, vowing to clear backlogs to "get the supply chain...
Ship fuel price highest since 2013, 'scrubber spread' widens Price of low-sulfur fuel is rising faster than high-sulfur fuel. Ships with scrubbers stand to gain.
LA/Long Beach ports delay excess container dwell fees until Nov. 29 Cargo is moving a bit more smoothly at the Southern California ports, giving officials reason to hold off assessing stiff storage fees.
Air Canada adds flights to move cargo blocked by Vancouver flooding Air Canada is adding cargo capacity equivalent in weight to 860 adult moose in and out of Vancouver.
Port of Virginia approves construction bid for on-dock rail expansion The board of commissioners for the Virginia Port Authority unanimously approved a $61.5 million construction bid for a project that would increase on-dock rail capacity...
Blocked from flying passengers, budget startup Flypop turns to cargo Starting an international airline during a pandemic is unbelievably challenging. Frustrated flypop has turned to cargo as an interim solution.
Port of Vancouver rail service could resume this week as 47 ships wait to dock CP and CN rail service at the Port of Vancouver could resume this week as mounting congestion and backlogs continue after devastating floods and landslides.
REFINERY NEWS: Israel's Bazan reports higher Q3 utilization at Haifa Israel's Bazan reported 81% utilization in the first nine months of the year, unchanged from a year ago, but its Q3 utilization rose to 86% compared with 73% in the year-ago quarter, due mostly to "the adjustment made to production in response to the increase in demand to distillates and the increase in refining margins."
EUROPE AND AFRICA RESIDUAL AND MARINE FUEL: Key market indicators this week The premium for delivered 0.5%S marine fuel over barges at Rotterdam fell $4.75/mt week on week to $9.25/mt.
ITALY DATA: Oil product October demand gains 4.1% on year to 4.9 mil mt: Unem Italy's refined oil product demand for October 2021 rose 4.1%, or by 193,000 mt, to 4.9 million mt year year on year, according a statement released by industry group Unione Energie per la Mobilità.
Trans Mountain pipeline outage pushes Western Canadian crude prices lower Western Canadian crude prices tumbled further Nov. 22 even as Trans Mountain said in a statement it was making progress toward restarting the 300,000 b/d combination crude and refined products pipeline shut by flooding in British Columbia Nov. 19.
OIL FUTURES: Crude rallies off six-week lows but remains heavy as market eyes SPR releases, lockdowns Crude oil futures settled higher Nov. 22 as the market clawed back some of the steep declines seen the session prior amid reports that the OPEC+ group could offset potential strategic petroleum reserve releases.
US crude inventory draws likely extend amid rising refinery demand US crude oil inventory draws likely extended in the week to Nov. 19, analysts surveyed by S&P Global Platts said Nov. 22, amid an expected uptick in refinery demand.
Tallgrass Energy cancels Plaquemines Liquids Terminal project in Louisiana Tallgrass Energy said it is canceling its stalled crude export terminal project in Louisiana and will consider other options for the site.
Refiners mull crude switching due to rising desulfurization costs Skyrocketing hydrogen costs have seen margins for secondary units slashed, causing refiners to look toward sweeter grades to improve margins.
RUSSIA DATA: October fuel oil exports up 11% on year to 2.99 mil mt Russian fuel oil exports rose 11% on the year to 2.99 million mt in October, according to data released by the Central Dispatching Unit of the Russian Energy Ministry Nov. 22.
Asia residual fuels: Key market indicators for Nov 22-26 At the same time, high natural gas prices are raising fuel oil demand from power utilities in Europe, traders added.
ICE LSGO futures net speculative length down 15,252 contracts on week Open interest in the futures was down 58,516 contracts over the reporting week to 759,754 contracts.
Vitol, ADNOC-backed VTTI acquires 90% of Fujairah terminal in expansion push The transaction will "significantly expand" VTTI's position in the port of Fujairah, it said in the statement.
Zhoushan delivered LSMGO bunker premium hits over one-year high on tight supply Inventories of delivered LSMGO have tightened largely due to limited supply of ex-wharf cargoes at Zhoushan, according to market sources.
Japan to provide subsidies to curb retail price rises for oil products "This is a grand social experiment. I do not know if the national average price can actually be maintained [at Yen 170/liter in the first stage], but at least the uptrend will be suppressed," the official said.
AUSTRALIA DATA: Crude exports rise 4% on year to 10.43 mil barrels in September August and September were the only periods when monthly exports surpassed 10 million barrels since September 2020, the data showed.
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