Floating wind farms will need floating substations California Gov. Gavin Newsom last week signed legislation opening the state's doors to offshore wind development. The legislation, introduced by Assembly member David Chiu, will require the California Energy Commission to establish
Solstad to upgrade 9th PSV to battery-hybrid As part of the frame agreement between Aker BP and Solstad Offshore, the companies have entered into a new contract for the 91.6- by 22-meter platform supply vessel (PSV) Far Solitaire. The
Propeller blade retrofit brings big fuel and CO2 savings After a recent retrofit to optimize the design of its propeller blades, a Vroon BV containership is achieving significant savings in fuel consumption and emissions. As part of its strategy to lower
Shipowner Idan Ofer makes 'green' aquaculture investment Offer being made via Israel Corp to buy a maximum 19.99% stake in Norwegian outfit Akva Group, which provides supplies...
Maritime urges UN to act on supply chain crisis Maritime sector joins transport leaders in calling on governments at the UN General Assembly to restore freedom of movement to...
Weekly Briefing: Shippers tackle congestion chaos | Capesize rates break records | Energy shortfalls don't help tanker surplus The big retailers have looked to circumnavigate box shipping's ongoing congestion and lucrative costs by indicating taking the unfamiliar step...
Capesize daily rates leap to almost $75,000 Given the steep rise in rates in recent weeks, observers wonder if the market could run up to the $100,000...
Regulator mulls intervention in US west coast boxship congestion Federal Maritime Commission is reviewing congestion in the San Pedro Bay ports of Los Angeles and Long Beach, a move...
Container congestion spreads to US east coast The focus on US terminal congestion has been in southern California. But east and Gulf Coast ports are also feeling...
Ignoring seafarer mental health could lead to legal claims Greater emphasis needed on mental health impacts when determining casualty severity, says Qwest
Australian terminals operator faces rolling strike action Maritime Union of Australia says its members at Patrick Stevedores in Sydney, Melbourne, Brisbane and Fremantle will take protected industrial...
China Merchants sells dry bulkers in separate deals The sale is part of the company's move to retire non eco-designed tonnage amid stricter emissions rules
Freight bonanza and demand for secondhand tonnage stifle demolition market Around 7.9m dwt of crude and product tankers, 287,974 dwt of containerships and 6.2m dwt dry bulk carriers have been...
Daily Briefing Energy transition curbs medium-term oil demand | Newbuildings cancelled over LNG uncertainty says OPEC | Shipping feels impact of China's...
NYK Line plans to expand LNG bunker service in Japan Move comes after NYK and its partners last year launched the country's first LNG bunker vessel which now serves the...
Airline group says cargo grew 7.7% in August The International Air Transport Association reported strong growth for air cargo in August.
Port Corpus Christi's $139M channel expansion contract awarded Houston-based Great Lakes Dredge & Dock Co. has been awarded a $139 million contract to work on the third phase of the Port of Corpus...
Canada pension fund to acquire Ports America The Canada Pension Plan Investment Board has agreed to become the owner of the largest U.S. terminal operator, Ports America, in a deal with Oaktree...
Shipping line CMA CGM orders Boeing 777 freighters A big ocean container line is buying big cargo jets from Boeing.
Transport heads want solutions to 'resolve' supply chain crisis The organizations are asking the heads of government to take "swift action" lifting fragmented travel rules and getting vaccinations into the arms of the manufacturing...
Want your own farm? This one comes in a shipping container Freight Farms is turning shipping containers into productive farms that require only 5 gallons of water per day.
OIL FUTURES: RBOB pushes higher on smaller-than-expected US gasoline inventory build NYMEX RBOB futures and gasoline cracks moved higher Sept. 29 as rising demand blunted a seasonal US gasoline inventory build.
Renewable Energy Group to shut Houston biodiesel plant: company Renewable Energy Group will close its 35 million gal/year biodiesel plant located in Seabrook, Texas, due, in part, to its inability to process multiple feedstocks, the company said in a Sept. 29 statement.
Japanese refiner ENEOS raises wholesale product prices by Yen 1,500/kl: sources ENEOS, Japan's largest refiner, raised domestic wholesale base prices for its five major rack oil products by Yen 1,500/kiloliter ($2.14/b), marking a second consecutive increase, market sources said Sept. 29.
OIL FUTURES: Crude dips as bearish US data halts rally 0620 GMT: Crude oil futures moved lower during midafternoon trade in Asia Sept. 29 on a surprise increase in US crude inventories and a stronger dollar, halting a rally after Brent breached the $80/b mark Sept. 28.
Shanghai-delivered 380 CST high sulfur bunker fuel premium hits eight-month high on tight supply The premium for Shanghai-delivered 380 CST high sulfur bunker fuel hit an eight-month high on the back of tight supply, market sources said Sept. 29.
UK fuel supply crises eases further as military drivers prepare to restock pumps The number of UK fuel stations hit by delivery shortages and panic buying fell to less than a third on Sept. 29 as the government said the military was preparing to start driving supply tankers to the pumps in the coming days.
US upstream activity slows in Q3 on limited capital, rising costs: Dallas Fed survey US oil and gas activity grew at a slower pace in the third quarter as producers continued to face limited access to capital and significant cost pressures, according to industry executives surveyed by the Federal Reserve Bank of Dallas in September.
China's energy intensity caps poorly timed amid ongoing fuel shortages China's latest measures to cap energy consumption have been widely blamed for causing the current power crisis, but the curbs more likely ignited a tinderbox of issues accumulating for months around soaring fuel prices and coal shortages, highlighting the difficulties in implementing energy policy in the context of a huge economy with numerous moving parts.
OIL FUTURES: RBOB rallies as demand bump limits US gasoline stock build NYMEX RBOB futures pushed higher midmorning Sept. 29 following a smaller-than-expected build in US gasoline stocks.
Rosneft, Equinor to work on lower-carbon technologies in joint projects The agreement signed Sept. 28 will see Rosneft and Equinor assess their joint projects for the reduction of greenhouse gas emissions, mostly of methane emissions, the Russian company said.
New oil price spikes possible in October before return toward $70/b: Platts Analytics Gas-to-oil switching and improving demand in Asia amid tighter inventories could boost crude prices, currently at a three-year high, through October, before increased supply from the OPEC+ producer grouping and elsewhere limits upside, S&P Global Platts Analytics said in a recent report.
Med shipowners see lesser cargo availability on upcoming Tuapse refinery closure The predominantly export-oriented 240,000 b/d Rosneft-owned Tuapse refinery -- located on the Black Sea coast in southern Russia -- is expected to carry out works starting in early November, lasting until mid-December, according to sources.
REFINERY NEWS ROUNDUP: More news on closures in Asia-Pacific New Zealand's Refining NZ said it is working to finalize Terminal Services Agreements with customers in October to enable the conversion of its Marsden Point refinery into an import terminal in the first half of 2022.
OIL FUTURES: Crude retreats amid profit-taking, surprise US inventory build A stronger US dollar may have placed additional pressure on the market, with the US dollar index (DXY) up 0.08% to 93.84 at 1100 GMT.
FUJAIRAH DATA: Oil product stocks rebound from record low on gains in light, middle distillates Heavy distillates and residues used as fuel oils for power generation and marine bunkers declined 3.7% to 6.724 million barrels, the lowest since December 2018, according to the data provided exclusively to S&P Global Platts.
China's Shandong private refineries to keep minimum throughput amid power rationing: sources More than a dozen Chinese provinces imposed electricity rationing mandate to critical industrial sectors in recent weeks, in an effort to conserve fuel ahead of the peak winter heating and power demand season, while higher coal and gas prices have limited power generation capacity.
Oil-indexed gas supply contracts protect against gas price volatility: GECF The GECF said members continued to back the "fundamental" role of long-term contracts and gas pricing based on oil and oil product indexation.
APPEC: Collaborative funding, favorable policy key to cut CO2 emissions in South Asia Developing nations lie in wait for the $100 billion in funds promised by developed nations under the UN climate agreement to advance clean fuel technologies.
Japanese companies advance ship-to-ship LNG bunkering plans in Setouchi, Kyushu "The reality is that [LNG] is the only available solution at scale at the moment...If you consider bio-LNG, then it could become a more permanent solution," Fratelli Cosulich CEO Timothy Cosulich said.
Japan's ex-wharf marine fuel 0.5%S Oct-Mar term deals done at levels similar to April-Sep Refiners and traders had reportedly inked ex-wharf contracts for the six months to March 2022 between a discount of $10/mt to parity to the whole month average of Platts Tokyo Bay delivered marine fuel 0.5%S assessments for the month of delivery, traders said.
APPEC: Carbon offset to act as starting point for decarbonizing LNG: Pavilion Energy CEO Pavilion Energy, which is owned by Singapore's state-backed investment group, Temasek Holdings, was the first to import a carbon neutral LNG cargo to its home country in April.
APPEC: LNG offers viable solution to tackle maritime decarbonization: AET CEO In the past four years, AET has made strategic investments of $2 billion in new assets, of which about $1 billion was invested in LNG dual-fuel assets across its vessel segments, Rajalingam Subramaniam, president and CEO said.
APPEC: HSFO demand firm as scrubbers win over upgrading projects - expert Very low sulfur fuel oil currently represents 60%-65% of global bunker demand and sufficient supply exists.
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