Edda Wind wins Siemens Gamesa contract for SOV Haugesund, Norway, headquartered offshore wind service company Edda Wind (OSL:EWIND) reports that it has entered into a five-year contract with Siemens Gamesa Renewable Energy for a service operation vessel (SOV) currently under
Euroseas more than doubles day rates in latest charter deals In another indication of the strength of the container shipping market, Athens-headquartered Euroseas Ltd. (NASDAQ: ESEA) today reported the extension of the charter of its M/V Evridiki G and a new time
Bulker is first to take advantage of new Mississippi River draft limit Norfolk, Va.,-headquartered T. Parker Host reports that the first ship has sailed from its United Bulk Terminals on the Mississippi River with a draft of 47.7 feet. This follows a newly announced
"Climate smart" cruise ferry starts delivery voyage Åland, Finland, headquartered Viking Line reports that its new flagship, the 222.55 meter long, 2,800 passenger, cruise ferry Viking Glory, has begun its delivery voyage from Xiamen, China, to its home port
10 minutes with NYCEDC's Cecilia Kushner on ferry investments Last month, Cecilia Kushner, the executive vice president for the Planning Division of the New York City Economic Development Corporation (NYCEDC), opened Marine Log's FERRIES conference along the New York Harbor waterfront.
CIT provides $35.5 million to Greenyield Shipping New York City-headquartered CIT Group Inc. (NYSE: CIT) reports that its Maritime Finance business has provided $35.5 million to finance four commercial shipping vessels operated by Greenyield Shipping LLC. Greenyield is managed
Wakashio master and first officer sentenced to jail over Mauritius disaster Shipowner Nagashiki Shipping said it would continue to co-operate with parties involved to remove the wreckage and help local community...
Infected pilots on Yangtze River may worsen port congestion The new cases detected at two pilot stations in China are expected to trigger further reduction of navigational capacities on...
China to set up $3bn tech firm for offshore engineering The country's largest shipbuilding group, China State Shipbuilding Corp, will lead the investment by holding a 19% stake in China...
AUSTRALIA DATA: October diesel imports rise 37% on year on strong demand Australia's imports of gasoil rose 37.3% year on year and 18.1% on the month to a record 15.23 million barrels in October, showed preliminary data released in the week of Dec. 27 by the country's Department of Industry, Science, Energy and Resources, reversing the decline seen in the previous three months.
Asia middle distillates: Key market indicators for Dec 27-31 Asia's middle distillate markets started the Dec. 27-31 trading week on a mixed note amid concerns of demand loss arising from restrictions caused by the growing number of coronavirus infections.
JAPAN DATA: Nov fuel oil sales jump 28% on year on robust demand for power Japan's fuel oil demand rose 28.3% year on year to 157,702 b/d in November, according to preliminary data released by the Ministry of Economy, Trade and Industry Dec. 28, as the country had robust fuel oil demand for power generation from some power utilities amid high LNG prices.
Asia residual fuels: Key market indicators for Dec. 28-31 Discussions in the Singapore marine fuel 0.5% ex-wharf market for the last week of 2021 are expected to remain muted amid the holiday season, with a similar trend expected in North Asia.
FEATURE: Argentina faces financing, infrastructure hurdles to grow Vaca Muerta output in 2022 Argentina is poised for oil and natural gas production growth in 2022 as more companies bet on projects in the Vaca Muerta, although building new pipeline capacity to sustain the development of the huge shale play will be a challenge as the country's ongoing economic crisis limits new financing.
Zhoushan delivered-ex-wharf 0.5%S bunker spread to stay firm on tight supply The Zhoushan-delivered marine fuel 0.5%S bunker differential to the ex-wharf assessment for the same grade is expected to remain firm after it widened to a near six-month high of $15/mt on Dec. 23- 24, S&P Global Platts data showed, amid tightening low sulfur fuel oil inventories in the downstream delivered market.
Global tankers freight recovery likely slow in 2022 Global tanker markets are expected to see better days in 2022 on the back of a likely increase in trade of oil and oil products, but the return to a pre-pandemic era can still be painful due to upcoming deliveries and slower scrapping of old ships.
SOUTH KOREA DATA: Nov fuel oil exports slump on lower marine fuel 0.5%S output South Korea's fuel oil exports fell 63% month on month to 670,000 barrels in November, according to the latest data released by the Korea National Oil Company, amid a general tightening of supply of low sulfur fuel oil grades across Asia over the month, as well as a decline in exports from the country's largest refiner, SK Energy.
China's oil consumption to peak at 780 mil mt/year by 2030: CNPC ETRI China's petroleum consumption is estimated to peak at 780 million mt/year by 2030, falling to 380 million mt/year in 2050 as demand for transportation fuel drops to around 230 million mt/year in 2060 with feedstock demand for petrochemical production, when the economy meets its net zero target, according to a report released by China National Petroleum Corporation's Economics & Technology Research Institute on Dec. 26.
OIL FUTURES: Crude rises as worst-case omicron concerns ease Crude oil futures rose Dec. 28 as commodities continued their rally amid easing concerns of the severity of the omicron coronavirus variant.
Iran nuclear talks close out 2021 with no more clarity than they started The US State Department said Dec. 28 it was too soon to tell if the eighth round of Iran nuclear talks was making any progress, while Iran and Russia were more upbeat about the negotiations that represent one of the biggest question marks for 2022 oil supply.
Kuwait oil minister retains post with additional duties in new cabinet Kuwait's oil minister Mohammed al-Fares, who resigned in November following a cabinet-wide walkout, has been reappointed to the post with additional duties amid plans by OPEC's fourth largest producer to boost reduced oil production capacity.
FEATURE: Sustainable shipping has a two-speed setting Shipping's ability to meet decarbonization targets seem both extremely easy and very tough. Near-term regulations look achievable while 2050 limits potentially look more ambitious rather than credible goals, leaving shipping in a precarious position to balance these competing challenges, and in a short time.
Pemex plans to stop crude exports to the US by 2023 to meet domestic fuel demand Mexico's Pemex plans to reduce crude oil exports to the US to 435,000 b/d in 2022 and to stop it completely in 2023 as the state-run company increases its refining capacity to meet domestic fuel demand, CEO Octavio Romero Oropeza said Dec. 28.
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