Offshore operator agrees settlement in GoM oil spill case The U.S. Department of Justice reports that Taylor Energy Company LLC. a Louisiana oil and gas company, has agreed to liquidate and turn over all its remaining assets to the United States
Solstad Offshore going greener with help of Innovation Norway grant Skudeneshavn, Norway, headquartered Solstad Offshore ASA targets a 50% global fleet emission reduction by 2030. Over the next three years, the company will be investing more than NOK 300 million (about $34
Greeks remain most active vessel buyers Heavy bulker buying by Chinese owners and MSC's containership spree are also reflected at the head of the S&P leaderboard
Why Maersk is paying a premium to expand into land-based logistics in Asia The $3.6bn acquisition will not help Maersk alleviate global supply chain chaos or lower ocean freight rates, in what it...
Sluggish property and infrastructure prospects threaten China's iron ore imports Supply and demand of steel in China is expected to fall next year amid a weak property market and lukewarm...
Arbitrage profits divert LNG carriers to Europe as energy crunch deepens Natural gas prices gained 20% in trading yesterday on news Russia was reversing pipeline gas flows, stoking fears of energy...
Skuld losses on underwriting deepen to more than $50m 'Disappointing but not unexpected' mutual result offset by commercial lines and investment returns, and marine mutual will stick to diversification...
Höegh Xiamen fire caused by vehicle battery Grimaldi Deep Sea and local stevedoring contractor criticised for lack of oversight after eight-day blaze in Jacksonville last year
Consumer demand in Asia and Middle East driving strong market sentiment, says Maersk World's largest container shipping company estimates 10%-20% of global capacity is being absorbed due to increased port waiting times, while...
Daily Briefing How Omicron and the orderbook will shape maritime markets for 2022 | Owners face 55% jump on International Group GXL...
Container lines spend big to switch focus from ships to shore Maersk has reached the top of the container shipping industry through a series of big-ticket takeovers during the past 30...
Maersk to acquire Hong Kong-based LF Logistics for $3.6bn Maersk chief executive Soren Skou described the deal as 'an important and truly strategic milestone' on the company's journey to...
New container port on Mississippi will be key to trade corridor The port south of St Louis will provide a key link in the trade lane connecting the Midwest with global...
Feds to provide $230 million to speed cargo through ports The White House will be "shining a light on profiteering" by ocean carriers in an effort to fend off inflation and keep supply chains moving.
Viewpoint: 3 inflationary warning signals the world can't afford to miss "Expectations are that high consumer demand and low inventory levels will keep rates elevated well into next year," says Peter Sand, chief analyst at Xeneta.
Dray Alliance raises $40M for data-driven supply chain solutions "We are a data company that happens to be applying our data points to solving problems in supply chain," says Dray Alliance co-founder and CEO...
James Webb Telescope's path to deep space goes through Panama Canal The biggest, baddest space observatory ever built is ready to ride into space on Dec. 25. How did NASA safely deliver it to the launch...
Maersk to buy Hong Kong-based LF Logistics for $3.6B Maersk is becoming an integrated logistics goliath with the ability to provide freight management, transportation, warehousing and e-commerce fulfillment for big retailers and manufacturers.
Brazil's diesel imports likely to double by 2031: EPE Projection comes amid efforts to create more-dynamic downstream market via de-monopolizing refining sector.
Oil spot is found in waters by Chile's Puerto Ventanas Incident caused by leakage in a transferring pipeline located under pier.
Crude extends rally on US inventory draw, easing omicron fears US commercial crude inventories decline 4.72 million barrels.
RUSSIA DATA: Nov fuel oil exports slip 2.5% on year to 2.9 mil mt The country's domestic fuel oil deliveries totaled 627,010 mt in November, up 6.5% on the year and down 15.7% on the month.
Russian crude oil output expected to rise in 2022 despite demand concerns Analysts expect the OPEC+ agreement to continue to be the key driver of Russian output volumes, with potential changes to Western economic sanctions policy, as well as spare capacity volumes, also playing a role.
FEATURE: European marine fuel sees tight availability into 2022 The 0.5%S marine fuel forward curve is currently showing a sharp price drop between January and February 2022 to give a $6.5 backwardated structure.
OIL FUTURES: Crude rally accelerates following larger-than-expected US inventory draw An overnight crude prices rally accelerated midmorning Dec. 22 after the Energy Information Administration reported a larger-than-expected draw in US crude supply.
Platts CEC prices and Renewable Energy Current Year at parity for first time The Platts Renewable Energy Current Year price rose strongly October and November after the launch of the Klima DAO protocol, which soaked up large amounts of the older and most competitive renewable carbon credits from the market and pushed up the floor price.
OIL FUTURES Crude gains slow as market awaits further omicron developments Media reports that the UK and US were not heading for lockdowns or further restrictions on mobility ahead of Christmas had boosted prices overnight, however there was a lack of fresh cues in the morning of Dec. 22 to propel prices higher.
FUJAIRAH DATA: Oil product stocks set for biggest annual drop after small weekly rise Heavy distillates including fuel oil for power generation and marine bunkers are down 20.5% since the end of 2020.
Weather-related delays at Russian ports cause rail backlogs Some ports have introduced restrictions requiring longer transshipment from railcars at port stations for heavy products.
Platts to update 2022 freight netbacks for Asia/AG oil product assessments S&P Global Platts will update the basis rates used in its calculation of various freight netback assessments in Asia and the Middle East, in line with flat rates published by the Worldscale Association, effective Jan. 3, 2022.
Aramco Trading Singapore Pte Ltd to join Asia fuel oil physical MOC Platts has reviewed Aramco Trading Singapore Pte Ltd and will consider information from Aramco Trading Singapore Pte Ltd in the Asia assessment process for Asia fuel oil physical, subject at all times to adherence with Platts editorial standards.
Zhoushan delivered marine fuel 0.5%S premium over eleven-month high as competition eases Bunker demand at the North Asian bunker hub of Zhoushan has been moderate at best, amid a slowdown in shipping activity prior to the year-end festivities, market sources said.
JAPAN DATA: Oil products output falls 2% on week to 18.84 mil barrels Dec 12-18 High sulfur fuel oil output rose 35% on the week to 1.34 million barrels.
JAPAN DATA: Oil product stocks up 0.4% on week to 63.37 mil barrels Dec 18 Very low sulfur fuel oil stocks fell 11.6% on the week to 3.79 million barrels.
THAILAND DATA: November fuel oil exports rise 27% on month as PTT resumes sales PTT restarted its 145,000 b/d Map Ta Phut refinery in late September after shutting it early-September due to a technical glitch, and progressively ramped up operating rates through October.
JAPAN DATA: Oil product exports fall 27% on week to 2.3 mil barrels Dec 12-18 Very low sulfur fuel oil exports fell 2.1% on the week to 316,607 barrels.
Minerva Bunkering starts ship fuel services at Saudi Arabia's Yanbu, Jeddah ports Minerva is offering very low sulfur fuel oil, high sulfur fuel oil and marine gasoil, along with shoreside bulk cargo storage and two bunker tankers, the M/V Patmos and M/V Halki, according to a statement.
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