Webb Institute elects next president Mark Martecchini has been elected as the 16th president of Webb Institute. Effective July 1, 2022, he will succeed R. Keith Michel who has served as Webb's president for the past nine
Another major U.S. offshore wind project gets BOEM approval South Fork Wind has received its Record of Decision from the U.S. Department of the Interior's Bureau of Ocean Energy Management (BOEM), successfully reaching a critical milestone in the federal environmental review.
Cheniere in 20-year LNG export deal with China's Foran Energy Houston-headquartered Cheniere Energy Inc. reports that its subsidiary, Cheniere Marketing International, LLP has entered into a binding 20-year liquefied natural gas (LNG) sale and purchase agreement with Foran Energy Group Co., Ltd.
Langh Ship newbuilds put focus on CO2 emissions reduction A new agreement between two Finnish companies, stainless steel producer Outokumpu and its long-term transport partner Langh Ship, underscores the growing importance of cutting vessel CO2 emissions as shippers look to decrease
Tanker testbeds landmark 3D printing project In a milestone for marine industry use of 3D printing, parts fabricated by that process have been validated as in good condition after six months in service on an oil tanker. The
MAN ME-GI engines to power 10 new Seaspan containerships Marking another success for MAN Energy Solutions in the Chinese market, Yangzijiang Shipbuilding Group has ordered 10 MAN B&W 7G80ME-C10.5-GI engines in connection with the construction of 10 LNG-fueled containerships for Seaspan
NTSB reports on $72.9 million oil platform strike by tanker A tanker operating company's decision to change masters without a handover period led to a $72.9 million marine accident, according to a National Transportation Safety Board (NTSB) Marine Accident Brief. Marine Accident
DNV beefs up cybersecurity offering DNV is to acquire Amsterdam-headquartered industrial cybersecurity specialist Applied Risk. It says the two companies will join forces with the aim of building the world's largest industrial cybersecurity practice, defending critical infrastructure
Trend for P&I clubs to declare big general increases continues American Club has bought no pool claims since 2016 but scheme now accounts for one dollar in three of its...
Green R&D fund gets IMO lifeline The Marine Environment Protection Committee has granted a lifeline to the shipping industry's proposal for $5bn green research and development...
Nordic American Tankers 'touches the bottom' with third-quarter loss Owner of 24 suezmax tankers has lost nearly $100m in the first nine months of 2021
Transpacific ocean transit times ease slightly With China-US ocean freight customers still having to wait on average 17 more days than usual for containers as congestion...
Terminal ties ease congestion delays Having an equity stake in a container terminal can put carriers to the front of the queue. For small opportunistic...
Port of Vancouver remains impacted by recent flooding Although progress has been made to restore main routes to the Metro Vancouver and Fraser Valley regions, rail and road...
VLGC rates climb to 10-month high Waiting times through the Panama Canal are around 19 days northbound, creating a backlog at a time of rising exports...
Shippers risk locking in record high freight rates After the chaos of the past 18 months, there is an understandable urge to fix capacity and freight rates through...
Singapore MPA signs partnership agreement with Wärtsilä Industry estimates point to bad planning, early arrivals, and time spent waiting at anchor for unnecessary burning of bunkers costing...
Completely white and just one in four women: Shipping bosses need to reflect the real world The business case for diversity, equity inclusion and belonging is undeniable. Statistics from numerous sources prove the gains that businesses...
Golden Ocean positive on dry bulk fundamentals The Norwegian dry bulk company backed by shipping tycoon John Fredriksen posted net income of $195m in the third quarter...
Weekly Briefing: Box profits set to persist | Tanker losses mount | Softer dry market set to last Container shipping looks healthier than it has in decades and will continue this historically unprecedented form for many quarters yet...
Top 10 class societies 2021 The six major class societies dominate in terms of tonnage and number of vessels; they have a breadth and depth...
Hyundai Mipo wins $600m dual-fuel order linked to CMA CGM French carrier, a frontrunner in opting for LNG as an alternative fuel source, is thought to be behind the order
DNV strengthens cyber capability with Applied Risk acquisition DNV Group President and CEO Remi Eriksen says maritime assets are now at higher risk of new forms of cyber-attack...
Daily Briefing CMA CGM Libra case was dispute over just $400,000 | Little time to talk carbon taxes as IMO states wrestle...
Bureau Veritas shipping data offline after cyber attack Company says cybersecurity procedures were immediately activated and 'further investigations and corrective measures' are in progress
EU resumes probe into South Korean shipbuilding merger Move comes shortly after news that European Union member states had reached a consensus to block the merger deal. It...
Port of Vancouver truckers threaten to strike Container truckers at two carriers serving the Port of Vancouver have voted to authorize a strike, threatening to bring more disruption as rail service resumes.
Regional sweet crudes' premium for Jan-loading soar amid tight supply Spot premiums for regional sweet crudes from Malaysia and Vietnam have risen sharply for January-loading cargoes compared to the previous trading cycle amid tight supply availability even as middle distillate cracks cool off.
INDONESIA DATA: Gasoil imports fall 16% on month in September Indonesia's gasoil imports fell 15.54% on the month to 149,370 mt in September, showed data from Statistics Indonesia Nov. 23, with the decline coming even as the country eased pandemic-related restrictions following a fall in COVID-19 infection numbers.
Venezuelan PDVSA's diluent inventories at highest level since 2019 Venezuelan state-owned PDVSA's diluent inventories, used to upgrade extra-heavy crude, totaled 1.7 million barrels in November, the highest level since 2019 when its imports of naphtha and light crude were halted due to US sanctions, according to an internal reports seen by S&P Global Platts.
Shell lifts force majeure on Bonny Light crude exports after key pipeline restarts Shell has lifted force majeure on loadings of Nigeria's key Bonny Light crude after exports were disrupted for almost a month due to the shutdown of the Nembe Creek Trunk line, the company said Nov. 24.
OIL FUTURES: Crude consolidates as market eyes OPEC+ response to global SPR releases Oil futures edged lower Nov. 24 as the market weighed a potential OPEC+ group response to US-led efforts to add to global supply against rising US inventories.
INDONESIA DATA: Sep gasoline imports fall 19% to 3-month low as naphtha, LPG arrivals rebound Indonesia's gasoline exports rose 283.03% on the month to 186,685 barrels in September.
E.ON in offtake discussions for large-scale green hydrogen distribution in Germany The hydrogen production will be powered by new solar photovoltaic and wind plants in Italy and Spain, as part of the CEO Alliance of 12 European companies to promote cross-border low-carbon projects, E.ON said in a statement.
Maintenance at Baltic port of Primorsk to affect some Urals Dec loadings: sources Loadings are expected to be suspended over Dec. 6-10 as works will be carried out.
OIL FUTURES: Crude prices stable following SPR release announcement rally The administration of US President Joe Biden said Nov. 23 that the country would release 50 million barrels of crude from the SPR, in coordination with India, Japan, South Korea, China and the UK.
Maersk exploring option for using hydrogen as fuel, in talks for green methanol supply Depending on how much hydrogen is compressed and how much it is cooled, Maersk would require tanks that are as much as 15 times the current size
INTERVIEW: Monjasa issuing CO2 emissions receipts to boost transparency As the shipping industry looks to tighten its climate emissions, CO2 emissions reporting is likely to become increasingly important.
Asia's SPR release lacks tenacity as some seek other options to tame oil inflation Some of the top Asian economies believe there are more effective ways to tame consumer inflation such as lowering fuel taxes.
Hong Kong delivered 0.5%S bunker premium hits near 5-month high on demand uptick The port of Hong Kong has seen incremental downstream demand for International Maritime Organization-compliant bunker fuel, stemming from the diversion of bunker-only inquiries as some shipowners could not secure prompt delivery dates in Singapore, market sources said.
Marine fuel 0.5%S Singapore-Fujairah spread widens to premium The spread of marine fuel 0.5%S cargo values between Singapore and the Middle Eastern port of Fujairah widened from an over seven-month low of on expectations of lower low sulfur fuel oil cargo inflows to the world's largest bunker hub of Singapore amid ample inventories at the port of Fujairah.
FUJAIRAH DATA: Oil product stockpiles see highest drop on record Fuel oil exports from Fujairah were at a record 4.12 million barrels in the week started Nov. 15, with shipments headed for Singapore, China, Madagascar and Pakistan, according to Kpler data.
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