Golden Ray: The final cut begins Almost two years after the capsize of the then 660 foot long car carrier Golden Ray on September 8, 2020, efforts to dismantle the wreck of the vessel and remove it from
Australia: Police arrest Maersk master on cable damage charge The Australian Federal Police (AFP) reports that the master of the 8,845 TEU containership Maersk Surabaya has been charged in relation to an August 1 incident that allegedly damaged the Australia Singapore
North Star secures funding for hybrid SOV trio Aberdeen, Scotland, based North Star Renewables reports that it has finalized a GBP 96 million (about $132 million) funding package to build its new fleet of three service operations vessels (SOVs). North
Ingalls christens LPD 28 Huntington Ingalls Industries (NYSE: HII) reports that its Ingalls Shipbuilding division christened amphibious transport dock Fort Lauderdale (LPD 28) on August 21. Due to the COVID-19 pandemic, the christening was livestreamed, and
Second 118 meter Fred. Olsen Express trimaran completes sea trials Bañaderos Express (Austal Hull 395), the second of two Austal Auto Express 118 trimarans constructed for Fred. Olsen Express of the Canary Islands, has completed a rigorous program of sea trials in
EuroDry adds ultramax to fleet The acquisition of the 2014-built vessel, which is expected to be delivered by the end of September or early October...
Ningbo disruption adds to equipment shortage Equipment supply is already under pressure from the slow movement of containers. Now pandemic-related shutdowns are bringing higher costs
One Hundred Ports: Riding out the storm The initial outbreak of the coronavirus pandemic brought a volume bloodbath to the container port sector in the first half...
One Hundred Ports: Pandemic pain lingers Box ports look set to post strong volume growth in 2021, gaining back traffic from last year's coronavirus-induced shortfall. Yet...
One Hundred Ports: Carriers survive and thrive as supply chain grinds to a halt The pandemic put severe strains on all elements of the supply chain; but after previous crises, box shipping appears to...
Port of Gothenburg volumes rise despite global trade disruptions Gothenburg saw a small rise in containers in the second quarter. It also saw a big rise in ro-ro traffic...
US west coast congestion ratchets up again After a slight easing of congestion in the second quarter, peak season demand has seen more ship waiting for berths...
Alibaba's Cainiao launches China-South Korea ocean freight Move comes after Alibaba introduced its own China-US west coast express service with chartered vessels in the past month
Navios bulker grounds in the Maldives A salvage plan is being drawn up with local authorities, says company representative. The priority is to remove the vessel's...
Emerging north Asia crude imports bode well for tanker markets Aframaxes and dirty long range two tankers have been the stand-out beneficiaries of rising crude and condensate imports as they...
China Merchants Port embarks on management reshuffle Company has appointed Wang Xiufeng, who comes from the road transport sector, as the new chief executive
Daily Briefing Billion dollar box lines have cash to burn | Come back Samuel Plimsoll, shipping still needs change for the better...
Jovo Energy amends $320m newbuild project Shanghai-listed company says it had already taken advantage of low ship prices by buying three secondhand LNG carriers in 2020-2021...
Long Beach completes $1.5bn automated container terminal The $1.5bn project turned two existing terminals into a single 304-acre site. It has automated container-handling equipment yielding throughput capacity...
Ningbo's Meishan terminal partially reopens The partial service restoration at the quay will at least help clear some of the terminal's backlog, facilitating a faster...
Did hackers pull off a maritime 'Colonial Pipeline 2.0'? A ransomware attack on a maritime fuel storage provider in the Canary Islands likely didn't live up to the hackers' hype. But the incident reflects...
Peak season: Let the chaos commence As this year's peak season gets underway, dislocations in the supply chain are increasing. However, this is really nothing new as the industry has been...
TENDER DATA: Sri Lanka's Ceypetco offers 180 CST fuel oil for mid-Sep Ceypetco procures fuel oil on behalf of West Coast Power and other local power companies. The company last sought 20,000 mt of 180 CST fuel oil for delivery over Sept. 3-4, but canceled the tender as its customers no longer required the product for power generation due to heavy rain that boosted hydroelectric power generation capacity, a company source said. Heavy rain has also enabled Ceypetco to export excess fuel oil, the source said.
RUSSIA DATA: July fuel oil exports rise 29% on year to 3.152 mil mt Russian fuel oil exports rose 29% year on year to 3.152 million mt in July, according to data released Aug. 23 by the Central Dispatching Unit of the Russian Energy Ministry.
ICE LSGO futures net speculative length down 3,861 contracts on week Speculative net long positions in ICE low sulfur gasoil futures were down 3,861 contracts to 93,146 in the week to Aug. 17, according to ICE data released late on Aug. 20.
EMEA MIDDLE DISTILLATES: Key market indicators European middle distillate markets have mostly moved sideways of late, apart from the jet fuel market which saw continued softening.
Global oil demand to peak by 2025 under UN pathway: Platts Analytics Global crude and condensate demand would peak in four years and slump by 40% over the next three decades if the world moves to a path outlined by the UN's Intergovernmental Panel on Climate Change, or IPCC, where global warming is limited to 1.5 C or 2 C degrees, according to S&P Global Analytics.
AMERICAS BUNKERS: Key market indicators Aug. 23-27 Spot marine fuel bunkers assessments in the Americas enters the week Aug. 23-27 under pressure from recent declines in key global energy futures, with market participants looking to upstream sectors for direction amid ongoing pandemic-related demand concerns.
OIL FUTURES: Crude surges 5% on weaker dollar, easing COVID-19 concerns Crude oil futures settled sharply higher Aug. 23 amid signs of progress against the COVID-19 delta variant surge and a weaker US dollar.
Japan's Kawasaki to build 86,700 cu m LPG-fueled LPG/ammonia carrier in 2023 **Kawasaki builds Japan's first LPG-fueled tanker for delivery at end-August **Shipping fuels in transition on industry's push for decarbonization
FEATURE: Hydrogen targets in EU 2030 climate package will need huge renewable power **Renewable power needs amount to half of 2019 output **EC targets 50% of industrial hydrogen from renewables
Oman in talks with foreign companies on green ammonia, hydrogen projects **Oman has green ammonia and hydrogen pact with India's ACME **Duqm free zone facility part of 200 sq km of land reserved for renewables
EUROPE AND AFRICA RESIDUAL AND MARINE FUEL: Key market indicators Demand for low sulfur bunker fuel has picked up in the week ending Aug. 20 across ports. Availability was good across all ports with no delays expected.
Gothenburg H1 throughput up on rising car sales, strong gasoline demand **Gasoline in backwardation through Q3, Q4 **H1 refinery runs were low
Green hydrogen companies build capacity amid high raw material costs, pandemic **Rising global commodity prices add to costs **HydrogenPro targets $1.20/kg production in 2022
Ukraine to build crude storage at Black Sea port The first phase of the project calls for building a reservoir with a capacity of 120,000 mt, while the overall project will consist of four reservoirs that will hold 480,000 mt of oil.
Asia residual fuels: Key market indicators for Aug 23-27 Tighter regional Marine Fuel 0.5% sulfur production in September is expected to support the South Korean delivered bunker prices.
South Korea's southern ports halt bunker operations as typhoon Omais advances: sources Bunkering operations at the ports were suspended in the afternoon on Aug. 23, and are expected to remain shut until Aug. 26, sources said.
OIL FUTURES: Crude climbs on bargain hunting, upbeat demand outlook "Risk assets appear to have caught a strong bid this morning after last week's hammering and that's lifting crude, too," Hari said.
Bunker barge supply tightens in West Japan on rough weather, maintenance "We cannot offer August-delivery bunker fuel to West Japan as barges are not available," said a bunker trader.
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