First French-based LNG bunkering vessel named at Chinese yard The first LNG bunkering vessel to be based in France was officially named Gas Vitality in a ceremony held October 26 at Hudong-Zhonghua Shipbuilding, China. Following the signing of a long-term charter
Floating wind innovator opens U.S. office Dublin, Ireland-based floating offshore wind system specialist Gazelle Wind Power is opening a U.S. office in Austin, Texas. The company claims to have "reinvented the floating wind platform to be lighter, flexible,
Møkster and Wärtsilä explore use of ammonia Can you burn ammonia in existing LNG dual-fuel engines? Stavanger, Norway-based offshore support vessel specialist Simon Møkster Shipping aims to find out. The family-owned company has entered a collaboration agreement with Wärtsilä
TotalEnergies and CSM partner up for energy transition A Memorandum of Understanding (MoU) signed by TotalEnergies and Columbia Shipmanagement (CSM) will initially see the companies partner on developing a lube oil monitoring, optimization and supply platform. It will utilize the
Japan moves ahead on 2 ammonia-fueled vessels Japan's New Energy and Industrial Technology Development Organization (NEDO) has approved a project that will see major domestic players move ahead on the commercialization of ammonia-fueled vessels with Japanese-produced ammonia-burning engines. The
Mining magnate says ships can switch to ammonia in 'months not decades' Australian mining magnate Andrew Forrest says shipping can and should decarbonise faster after announcing a target to make 15m tonnes...
UK tonnage tax set to ditch EU flag requirement Industry responses range from 'puts the great back into British shipping' to 'complete capitulation to global capitalism'
UK Club defends 'corrective' double-digit price hike 'We must be conscious of our continued responsibility to balance the needs of the club's members and the club's commitment...
Greek owners warn that multi-fuel future may end cheap shipping era 'First priority' must be a massive R&D effort into new fuels and propulsion technologies but further investigation is also warranted...
Costamare posts record earnings as bulkers join the party New $150m 'hunting licence' from European bank suggests containership owner's foray into bulkers may not have ended
Weekly Briefing: 'No end in sight' for container congestion | Dry bulk spot market loses steam | An end to the tankers earnings rout? Hope that container shipping congestion could start to ease by the Chinese New Year appears to be waning, with analysts...
MOL seeks steady growth on further diversification Company wants 'non-marine transport-centered businesses' to contribute half of its profits in future
IMO isn't answer to decarbonisation pathway: Global Maritime Forum study Region-by-region approach, rather than global regulation that shipowners and lobby groups are calling for, will accelerate uptake of alternative fuels
'It can't get worse': Tanker rate recovery seen in 2022 Below-average oil inventories, lower fleet-to-orderbook ratios and rising scrapping are expected to lift rates next year
US import boom fails to boost inventory ratios Despite a fall in the inventory-to-sales ratio, warehouses are still full. In absolute terms inventories are growing, with only retail...
Daily Briefing Hydrogen can be shipping's best clean fuel, says China Merchants president | Lines want shipping excluded from extra-EU climate change...
Detention and demurrage fees needed to keep cargo flowing Bob Watters, senior vice-president of Seattle-based SSA Marine, says a more effective solution to the US congestion issues is financial...
Dry bulk owners face uncertainty as Indonesia plans exports halt It is not only dry bulk commodities that will be affected. Unprocessed palm oil is facing an export embargo, which...
Shippers fear 'catastrophic' fallout from 'crazy' California port fees Biden-backed plan to tackle container congestion could make logjam even worse, critics believe.
Port of Long Beach sets up rail relief valve in Utah The Port of Long Beach is trying to innovate its way out of container gridlock. The latest move is regular shuttle trains to Utah to...
Lawmaker to propose legislation discouraging purchases of Chinese container cranes A Florida lawmaker says China is undercutting the container gantry crane market and increasing cyber-risks for U.S. ports.
Why is reducing emissions in freight so hard? The freight and supply chain sector is often categorized as "hard to abate" when it comes to greenhouse gas emissions. AskWaves digs into why that...
Ocean carriers will pass on fines for lingering containers to importers The Los Angeles/Long Beach cargo community is confused about punitive fees on ocean carriers designed to expedite the clearance of containers from marine terminals.
OIL FUTURES: Crude slides on larger-than-expected US inventory build Crude futures settled lower Oct. 27 on the heels of a larger-than-expected build in US inventories, but the longer-term bullish situation remained intact, analysts said.
US ULSD stocks remain at 19-month low Total ultra-low sulfur diesel (ULSD) stocks in the US reached a 19-month low for the second consecutive week, according to US Energy Information Administration data released Oct. 27.
Nationwide US crude oil inventory builds resume, but Cushing stocks test three-year low US crude oil inventories pushed to a nine-week high in the week ended Oct. 22, US Energy Information Administration data showed Oct. 27, as Gulf Coast builds offset a third week of draws at the NYMEX delivery point of Cushing, Oklahoma.
Japan's refiners unsure they can supply all oil requested for winter power: PAJ chief Japanese refiners have received oil supply requests from local power utilities for winter amid high spot LNG prices, but are unsure if they will be able to meet all the demand, Petroleum Association of Japan President Tsutomu Sugimori said Oct. 27.
Interest in OPEC crudes doesn't fit tight market narrative OPEC's claim that there is no shortage in the physical oil market appears at odds with the upward trajectory of the futures market. Varying appetites for different quality and regional crudes is the missing link.
SOUTH KOREA DATA: Sep gasoil exports hit six-month high on tight regional supply South Korea's gasoil exports hit a six-month high in September on tight regional supplies and steadily improving demand, latest data from Korea National Oil Corp. showed.
Sudan's key oil terminal open for crude exports after military coup: sources Sudan's Marsa Bashayer oil terminal on the Red Sea is operating normally, according to trading sources, days after a military coup in the country raised doubts over production and exports from the OPEC+ producer and its land-locked southern neighbor South Sudan.
Shell declares force majeure on exports of Nigeria's Bonny Light crude Shell declared force majeure on Nigeria's Bonny Light crude loadings Oct. 25 due to the shutdown of the Nembe Creek Trunk line, a key pipeline for the grade, a spokesperson said Oct. 27.
Spot pricing for MGO at several Latin American ports reach 2014, 2018 highs Spot marine gasoil prices in key Latin American ports have reached multi-year highs dating back to end-2014 over the past couple of days, tracking rising global diesel values.
Vista on track to boosting 2021 oil, gas output in Argentina by 47% on year Vista Oil & Gas, the third-biggest oil producer in Argentina, is on track to meet a target of increasing its total oil and natural gas production by up to 47% this year from 2020, allowing it to step up crude exports at higher prices than in the domestic market, CEO and Chairman Miguel Galuccio said Oct. 27.
OIL FUTURES: Crude slows as US sees stock build A larger-than-expected stock build showed US crude inventories increasing 2.3 million barrels for the week ended Oct. 15, according to API's weekly report on Oct. 26.
Singapore's 380 CST bunker sales slip to one-year low; other ports eager to get pie "Not all physical suppliers here [in Singapore] supply HSFO. Shipping bottlenecks and delayed vessel sailing schedules [in the Asian region] are also weighing on overall demand," an industry source said.
THAILAND DATA: Sep fuel oil exports fall 32% on month due to refinery turnarounds The month on month decline in the exports was due to lower volumes at Thailand's PTT, which skipped exports in September and October after completing maintenance on one if its refineries, a company source said.
Bunker prices at Chinese ports gain on supply tightness; Zhoushan bucks trend Bunker fuel prices in ports other than Zhoushan are strong because of tight supply, driven by a shift by refiners to middle and light distillates.
JAPAN DATA: Oil product exports rise 11% on week to 2.96 mil barrels Oct. 17-23 Japan's oil products exports rose 11.2% week on week to 2.96 million barrels over Oct. 17-23, led by an increase in gasoline, jet fuel and fuel oil shipments, the latest data from the Petroleum Association of Japan showed.
Fujairah oil product stocks dip amid plunge in middle distillates The supply of marine fuel 0.5%S in Fujairah has tightened as robust demand for the bunker fuel depleted inventories and tightened barge availability, traders said.
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