McAllister Towing orders two more tractor tugs New York City headquartered McAllister Towing reports that it has signed a contract for the construction of two 93- by 38-foot tier IV, 84-metric-ton bollard pull, tractor tugs with the option for
Hydrogen-ready Jones Act WTIV design gets AiP ABS has awarded its Approval in Principle (AiP) to Ned Project Inc. for its hydrogen-ready wind turbine installation vessel (WTIV) design. Ned Project Inc. is working with GPZ Energy to develop WTIV
Golden Ray: Barge preparations continue Though the giant heavy lift ship VB 10000 has made its final cut through the hull of the capsized car carrier Golden Ray, the last two of the wreck's original eight sections
VIDEO: Rolls-Royce and Sea Machines Robotics to collaborate Rolls-Royce Power Systems is to collaborate with Boston-headquartered Sea Machines Robotics to offer comprehensive remote command, autonomous control and intelligent crew support systems to the marine market that will complement the MTU
Carnival brings more ships back into service The cruise industry is continuing its comeback. This is good news not only for travelers and investors, but also for many local economies hard hit by the shutdown of the industry in
Burger Boat wins order for ferry designed for tough winters Burger Boat Company's Manitowoc, Wis., shipyard has started construction of a new 92-foot vehicle/passenger ferry, the Neebish Islander III. Ordered by the Eastern Upper Peninsula Transportation Authority (EUPTA), located in Sault Ste.
Svitzer appoints new global head of decarbonization Maersk's global towing operation, Svitzer, has appointed Gareth Prowse as its new global head of decarbonization. With an academic background in marine ecology, centering on environmental risk, pollution prevention and ecotoxicology, Prowse
Reducing cross-contamination when preparing and cleaning aluminum welds By Elliot Shepherd, associate product manager, and Jerry Dillion, district sales manager - California, Weiler Abrasives Aluminum is being used more frequently in shipbuilding thanks to the many benefits the material offers,
VIDEO: Merchants Bridge project reaches milestone A $222 million project to replace the Merchants Bridge that links Missouri and Illinois at Downtown St. Louis reached a major milestone Friday, September 17, with the first one of three new
IMO 'defrauded' by North Korea vessel identity laundering scheme The UN agency is reviewing claims that IMO numbers are being issued for ships that don't exist
Attica glimpses gradual 'normalisation' of operations despite loss Attica Group curbed first-half losses and attributed red ink to the impact of the pandemic as well as higher fuel...
Maritime Markets Outlook: Decarbonising shipping by the numbers Getting shipping to zero carbon is not just a matter of political willpower - the industry must figure out how...
Liabilities could break retailers that charter boxships, experts warn 'If the port where the goods are to be discharged is suffering chronic delays - whether due to the pandemic or...
US port congestion 'will take months to clear' As the US heads into its pre-Christmas retail boom and inventories remain low, imports are piling up off the west...
Bulker congestion off China boosts dry bulk rates About 5.5% of the dry bulk fleet, or 1 in 17 vessels, is caught up in congestion off China, Lloyd's...
Maersk Tankers agreement opens door for rapid expansion Christian Ingerslev, chief executive officer at Maersk Tankers, believes it is easier to maximise value and reduce carbon footprint if...
Shipowners at risk if they ignore carbon pricing, says Trafigura As the Poseidon Principles banks start aligning fleet efficiency benchmarks with Paris Agreement targets rather than IMO, the pace of...
Portchain turns to investors to fund growth With vessel schedules changing on a daily basis, terminals are working less efficiently than possible. Better planning tools can help...
Synergy takes over Maersk Tankers' technical management business Maersk Tankers says it will focus on commercial operations as Synergy takes over its technical management business. The transaction is...
Daily Briefing Leasing houses 'on the hook' for EU shipping carbon bill | Freight surcharges will remain even after rates ease |...
Inland port could solve US west coast congestion 'What an inland port brings to the table, whether it's Utah or anywhere else, is that ability to provide that...
China's overseas coal power retreat not a threat for bulkers China's policy is unlikely to change much in the short to medium term, but it is likely to accelerate the...
Port of New Orleans sees mixed results for August cargo volume Port of New Orleans recorded mix results during August, which officials attributed to global supply chain issues.
Canada border officers ratify deal for new contract Canada Border Services Agency officers back a deal that will bring a new four-year contract with additional pay. But there's one catch: The retroactive agreement...
JAPAN DATA: Oil products output rises 2.5% on week to 17.41 mil barrels Sep 12-18 Japan's oil products output rose 2.5% week on week to 17.41 million barrels between Sept. 12-18, data from the Petroleum Association of Japan showed Sept. 23.
UK's Harbour Energy drops 250 mil barrel Falkland Islands oil project opposed by Argentina London-listed Harbour Energy said Sept. 23 it was pulling out of a project to develop the Sea Lion oil discovery offshore the Falkland Islands, which has been bitterly opposed by Argentina and is thought to hold some 1.7 billion barrels.
US Gulf Coast HSFO highest since April 2019 on soaring Brent futures High sulfur fuel oil on the US Gulf Coast neared a two-and-a-half year high Sept. 23, rising along with the highest Brent futures since October 2018.
ARA diesel, gasoil stocks fall 5.7% on week to 1.972 mil mt: Insights Global Diesel and gasoil inventories in the Amsterdam-Rotterdam-Antwerp trading hub fell 5.7% on the week to 1.972 million mt as of Sept. 22, Insights Global data showed Sept. 23.
Mexico tightens grip on private fuels importers as Pemex attempts to lure back clients Mexico is tightening its grip on private refined products fuel importers as the state oil company Pemex tries to lure back customers to boost its market share, according to sources.
OIL FUTURES: Brent tests three-year high on tighter supply outlooks, weaker US dollar Crude oil futures settled higher Sept. 23 amid tailwinds from tightened supply outlooks, a weaker US dollar and a broader cross-asset market rally.
INTERVIEW: Soaring gas prices an opportunity for renewable hydrogen: Nel CEO Solar PV module prices have fallen by around 90% since the end of 2009, while wind turbine prices have fallen by 55-60% since 2010, according to IRENA. S&P Global Platts Analytics forecasts a modest reversal in this trend this year, however, due to rising raw material costs.
Maersk invests in DAC technology to boost methanol use as sustainable bunker fuel The US startup is developing tools to filter atmospheric CO2 for use in the production of net zero methanol, gasoline, diesel and jet fuel, according to company statements. The fuels will cost the same as their hydrocarbon-based equivalents, according to Prometheus Fuels' website.
OIL FUTURES: Crude prices edge lower on large US gasoline build, recovering output Data released Sept. 22 by the EIA showed a 3.47 million barrels build in US gasoline stocks in the week to Sept. 17, to 221.62 million barrels, in contrast to a forecast 432,000 barrel decline in gasoline inventories by the American Petroleum Institute Sept. 21.
Tanker rates unprofitable for the next 12 months: BIMCO **Uneven distribution of vaccines limits upside for rates **Geopolitical volatility supportive for tanker rates
CHINA DATA: Aug transport fuel output slides 10% on year amid soft domestic demand Platts reported Sept. 20 that a source with a state-owned refinery said there was a possibility that some gasoil volumes "are reported as fuel oil under the category of Light Bunkering Fuel Oil in order to save consumption tax."
FUJAIRAH DATA: Oil product inventories at lowest level since reporting began in 2017 Heavy residue inventories fell 6.6% to 6.980 million barrels, the data showed, driven by a fuel oil market East of Suez that has seen fewer flows from the West, while soaring natural gas prices have prompted power plants to switch feedstock to fuel oil, according to traders.
FEATURE: High spot LNG prices set to support Asian LSFO in winter "North Asia, such as Japan, South Korea and Taiwan, will start increasing LSFO consumption for winter," a refining source in Asia said.
European fuel oil exports to Asia rise on stronger demand, high LNG prices Commodity data company Kpler estimates that 479,000 mt of European fuel oil will arrive in Asia in the week ended Sept. 26, up from the 450,000 mt that arrived the previous week, and the largest amount since 737,000 mt in the week ended Aug. 30.
Financial institutions direct billions of dollars to address climate change The world is emitting about 42 gigatons of carbon dioxide every year and on that basis in order stabilize atmospheric CO2 levels to prevent global warming above 1.5 degrees Celsius, there are fewer than eight years before the full carbon budget is used up, Tom Steyer said.
Developed economies must help emerging markets switch to lower emissions, experts say In 2018, developed economies failed to raise the $70 billion needed to assist emerging markets so they could make the transition to a cleaner energy mix, Fergus McCormick, director of sovereign research at the Emerging Markets Investors Alliance, said during a virtual seminar.
Fujairah delivered marine fuel 0.5%S bunker differential sinks to over 9-month low Industry sources attributed the sluggish spread between the very low and high sulfur fuel oil grades to firmer Fujairah-delivered 380 CST HSFO bunker values and weak demand for the International Maritime Organization-compliant bunker fuel which kept inventories oversupplied.
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