MARAD awards $241 million in port grants The U.S. Department of Transportation reports the award of more than $241 million in discretionary grant funding for 25 projects to improve port facilities in 19 states and one territory through the
Austal USA delivers LCS 30 In its second littoral combat ship delivery this year, Austal USA has delivered the future USS Canberra (LCS30) to the United States Navy. Paddy Gregg, CEO of Austal USA's Henderson, Western Australia,
First Inmarsat-6 satellite launches successfully Mitsubishi Heavy Industries has successfully launched I-6 F1, the first of Inmarsat's new generation of satellites, from the JAXA Tanegashima Space Center in Japan. The Inmarsat-6 series are Inmarsat's first ever hybrid
Denmark in talks with Sweden over Baltic Sea vessel collision probe, says prosecutor Investigation into crash in the Baltic Sea could be moved from Sweden to Denmark, according to prosecutor
Tanker freight derivative trading falls 14% in 2021 Flatlining product tanker rates drove a decline in volumes traded in forward freight agreements, which are used as a risk...
International Group clubs take $240m hit for Hydra recapitalisation 'As claims outpaced premiums with a wide margin for the first six months of 2021, the contingency capital of Hydra...
Sustainable shipping is a study in 'imagineering' Humans find it hard to imagine the future, understanding that doing things differently now will matter later; we tend to...
Energy management collaboration offers bulker breakthrough Bulk carriers are at the end of the line when it comes to advanced technologies. A new collaboration aims to...
Capesizes pull back on China's steel output slump Latest data shows a 22% drop in China's steel production, taking total output in the first 11 months of the...
Daily Briefing Why Maersk is paying a premium to expand into land-based logistics in Asia | Maersk to acquire Hong Kong-based LF...
BW LPG India brings in Mass Capital to explore infrastructure opportunities BW LPG says the deal will allow it to look beyond traditional LPG shipping, and into LPG infrastructure markets
Malaysia to seek extradition deal with Indonesia to protect shipping The Malaysian Maritime Enforcement Agency wants an extradition treaty with Indonesia to facilitate prosecution of suspected foreign crew
Port of Long Beach gets $52m grant for on-dock rail project Moving cargo by on-dock rail - directly transferring containers to and from marine terminals by train - is cleaner and more efficient...
Tanker, container decarbonization may lag behind other shipping sectors: Wartsila official *Passenger, specialist vessels operating on linear routes likely first movers *Early adoption implies 2.5%/year of bunker demand switching to renewable *Alternative fuels around twice as expensive or more compared to fuel oil
REFINERY NEWS: ExxonMobil reports fire at gasoline component unit at Baytown, Texas The refinery is the second-largest in the US, surpassed only by Motiva's 607,000 b/d Port Arthur, Texas, plant.
OIL FUTURES: Crude edges up as market processes mixed signals In the absence of fresh cues relating to the spread of the omicron coronavirus variant and lockdown restrictions, US Energy Information Administration data released Dec. 22 appeared to provide some support for prices, with a larger-than-expected drawdown of US crude oil inventories overriding builds in gasoline and distillate stocks.
Iran talks that could sway 2022 global oil supply by 700,000 b/d to resume Dec 27 S&P Global Platts Analytics now assumes the sides will reach an interim deal to freeze Iran's nuclear development and lift some US sanctions, increasing Iranian oil supply by an estimated 700,000 b/d from April to December.
Refining demand to drive hydrogen market growth in 2022: Platts Analytics Platts Analytics sees 2021 pure hydrogen demand at 73.8 million mt, up 3.8% on the year and in line with 2019 pre-pandemic levels.
Oil demand recovery seen holding course in 2022 despite omicron threat The outbreak of the highly transmissible mutation may dent the pace of oil demand recovery but won't derail its trajectory, appears to be the consensus.
Global mobility shrugs off omicron to post fresh post-COVID high Mobility in 13 countries representing about half of global oil demand averaged 3.8% below pre-COVID-19 levels in the week to Dec. 19, according to adjusted Google data, the highest since the pandemic sent global oil demand crashing by over 9 million b/d in 2020.
Oil market tightness could resurrect crude investment in coming years Key producers Saudi Arabia and the UAE and top investment banks like Goldman Sachs and JP Morgan warn of a potential mismatch between the ongoing energy needs and the jitters of Big Oil reluctant to spend on replenishing their lifeblood that could lead to triple digit oil prices.
FEATURE: 2022 a 'critical investment point' for European hydrogen S&P Global Platts Analytics shows 65,000 mt/year of hydrogen production capacity due to come online in Europe in 2022 for a total of a little over 100,000 mt/year, before more significant additions ramp up in 2023 and 2024, to total almost 1 million mt/year.
THAILAND DATA: Nov transportation fuel exports slip on local demand recovery November's middle distillate exports were up 18.35% -- its 13th straight year-on-year increase.
THAILAND DATA: Nov automotive diesel, heavy fuel oil, jet fuel exports surge on year The export of heavy fuel oil in November surged 65.5% from a year earlier.
Jan-arrival LSFO arbitrage cargo in Singapore expected to rise from Dec: traders Underpinning at least some of the increase was the expectation of at least cargo of low sulfur Skikda crude barrels loading in December from Algeria heading East, after no November-loading cargoes were shipped to Singapore, traders said.
FEATURE: EU on collision course with shipping in 2022 over carbon market reforms EU carbon prices surged to an all-time high of Eur90.75/mt ($102.34/mt) Dec. 8, prompting calls for intervention to curb what some see as excessive financial speculation.
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