J M Baxi Group to acquire Allcargo Logistics' project forwarding & logistics business and Lift & Shift India's heavy & over-dimension cargo logistics business
JN Port handles over 5.66 million TEUs in 2021-22
Wan Hai Lines orders another five 13,100 TEU vessels
Yang Ming reports record annual profit in 2021
Wiz Freight announces Rs 275 crore Series A funding led by Tiger Global
Honda India Power Products forays into Marine Outboard business in India
Integration of Unified Logistics Interface Platform (ULIP) with FFFAI discussed
ZIM announces new chartering transaction for six 5,500 TEU newbuild vessels
India-UAE CEPA opens doors to significant worldwide markets: Goyal
LIST OF 26 NATIONAL WATERWAYS FOUND FEASIBLE FOR CARGO / PASSENGER MOVEMENT
Russia-Ukraine war has disrupted global supply chains: FM
Liberian Registry gets key US certification
Free import of refined palm oils extended till end of this CY
Indian organic food products have a major market in the EU
Alaska invites contractor proposals for ferry replacement project services The Alaska Department of Transportation & Public Facilities is now seeking proposals for preconstruction and construction services for the Tustumena Replacement Vessel (TRV), an ocean-class passenger and vehicle ferry that will operate
BIMCO: VLSFO premium of $200/tonne increases scrubber advantage Niels Rasmussen, chief shipping analyst at BIMCO, says that the current $200 per tonne price spread between very low sulfur fuel oil (VLSFO) and high-sulfur fuel oil (HSFO) is increasing the advantage
Ever Forward: Evergreen declares General Average A third attempt to refloat the grounded containership Ever Forward was made yesterday. It failed and the ship remains aground in Chesapeake Bay. Today, shipowner Evergreen Marine said that, "in light of
Ponant signs up polar cruise ship for ABB MarineCare French cruise company Ponant has signed up its LNG-fueled hybrid-electric exploration cruise ship Le Commandant Charcot for ABB's MarineCare services. Le Commandant Charcot recently became the first cruise ship of its type
MSC agrees to acquire Bollore Group's Africa logistics unit MSC said acquiring Bollore SE 'reaffirms the group's longstanding commitment to invest in Africa and to strengthen supply chains across the continent, and to connect...
Asia starting to look for spot LNG cargoes Asia, which has been on the sidelines as Europe scrambles for liquefied natural gas volumes at premium rates, will have...
Flag states should cancel Russian vessel certificates if sanctions block payout, IMO rules 'Economic sanctions may in some cases restrict insurers or other financial security providers from processing claims or prohibit payment of...
Marine insurer drops Sovcomflot cover Thirty-five tankers from Sovcomflot fleet, totalling 3.4m dwt, had been entered with North of England P&I
Warning over China's equipment market dominance Nearly all marine containers are manufactured in China by state-controlled companies. This puts the rest of the supply chain at...
UK measures over P&O Ferries sacking will have limited impact 'The government could have made that change if they wanted to, but the decision recognises that even in a post-Brexit...
IMO to review biofouling rules amid industry concern An IMO committee will next week consider updating guidelines on biofouling. Industry groups say shipping companies are already managing the...
Stolt-Nielsen posts strongest first quarter for 14 years Odfjell stake deal has increased speculation that Stolt-Nielsen would merge with the Bergen-based business, speculation that Niels Stolt-Nielsen did not...
LPG: Shipping on rough seas With higher LPG prices expected to soften cargo demand and a hefty vessel orderbook due for delivery, earnings of vessels...
Euronav suspends operations with Russia over war While the crude tanker owner expects tonne-miles to increase as trade flows are disrupted, it also foresees crewing and bunker...
Offshore wind: Picking up speed The Russia-Ukraine crisis has sparked an acceleration in project development in Europe as the continent seeks to become energy independent;...
Evergreen declares general average for Ever Forward Despite 10 days of dredging and two attempts to refloat it, Ever Forward remains aground. Cargo interests are now being...
Contract freight rates double in a year Spot rates may be on the decline as China lockdowns and the war in Ukraine dent sentiment. But with demand...
Ports say 'it's not our job' to enforce new UK ferry pay rules 'We have neither the expertise or resources to enforce employment law. That is a role for government and regulators,' says...
Heavy lift: More than pulling its weight Low stocks of both commodities and industrial parts have restricted heavy-lift cargo movements for the past 18 months. Shippers in...
Reefers: Red hot market shows little sign of cooling The reefer market recovery is expected to continue through 2022, with 'good prospects' for all fresh commodities, while rates show...
Daily Briefing UK to block ferries that don't pay seafarers a minimum wage | Owners see 'new paradigm' for LNG shipping |...
Jiangnan yard wins LNG carrier pair order from Adnoc The move could bring the China State Shipbuilding Corp unit into the club of only a few competent players that...
Operators see no quick fix for China's port congestion Logistics bottleneck and the shortage of containers is unlikely to be improved in short term with the resurgence of coronavirus...
Amazon airline ASL orders more Boeing 737-800 converted freighters ASL Aviation plans to acquire at least 10 737-800s and pay Boeing to turn them into freighters as demand grows from customers such as Amazon,...
Shippers redirect Shanghai cargo to other airports amid mass quarantine The pandemic supply chain disruptions never seem to end, especially in China. Strict restrictions on movement in Shanghai mean cargo can't get to the airport,...
Future of oil and gas production more relevant as Russia-Ukraine war persists: panel In the five weeks since the Russia-Ukraine war began in late February, the importance of energy security has caused some sectors of the economy to cast a more favorable eye on the oil and gas sector as it has become clearer that the energy transition will not happen as quickly as desired, a panel of experts said March 29.
Singapore 10-500 ppm gasoil spread widens to record high on tight ULSD supply The spread between FOB Singapore 10 ppm sulfur gasoil and 500 ppm sulfur gasoil soared to an all-time high on March 30, as a thirst for ultra low sulfur diesel imports from the west, coupled with lean supplies and steady demand in Asia pushed up prices for the gasoil grade.
REFINERY NEWS: India considers moving location of stalled mega refinery project The stalled mega refinery project on the west coast can spur economic development through the growth of downstream industries if it is moved to the eastern part of the state of Maharashtra, oil ministry officials said March 31.
OIL FUTURES: US SPR release, OPEC+ output hike send crude sharply lower Crude oil futures settled sharply lower March 31 after the White House announced it will release up to one-third of the nation's Strategic Petroleum Reserve over the next six months in a bid to combat high energy prices.
REFINERY NEWS: Milazzo refinery to restart after security system closure: source he Milazzo refinery located on the Southern Italian island of Sicily will restart after it was forced offline following an incident March 28 night that forced many units offline, according to information provided by a source close to the refinery.
OIL FUTURES: Crude holds lower as US announces 1 million b/d petroleum reserve release Crude prices stayed lower midmorning March 31, as the White House announced it will release up to a third of the nation's Strategic Petroleum Reserve over the next six months in a bid to combat high energy prices.
ARA diesel, gasoil stocks drop 3.8% on week to 1.601 mil mt: Insights Global Stocks of diesel and gasoil in the Amsterdam-Rotterdam-Antwerp hub in Northwest Europe slid 3.8% on the week to 1.577 million mt in the week ended March 30, Insights Global data showed March 31.
BRAZIL DATA: Refined product sales rise 5% on year in February Brazil's refined product sales rose 5% on the year in February, led by growth in diesel and gasoline sales as greater urban mobility fueled a recovery in domestic demand across Latin America's largest economy, the National Petroleum Agency, or ANP, said March 31.
US President Biden announces 1 million b/d SPR crude release for six months The Biden administration said March 31 it will release an unprecedented 1 million b/d from the US Strategic Petroleum Reserve for the next six months as part of efforts to rein in gasoline prices that have soared following Russia's invasion of Ukraine.
OIL FUTURES: Crude falls as US considers release of strategic petroleum reserves Headlines of the Biden administration considering a release of up to 1 million b/d of oil from its strategic petroleum reserve over several months pushed oil prices lower.
JAPAN DATA: Robust oil demand for heating, power in February on cold weather Overall, oil product sales decreased 2.3% year on year to 2.94 million b/d in February, the first year-on-year fall in three months.
European refiners face threat to profitability despite strong diesel cracks: panel High natural gas prices have affected the cost of hydrogen used for production of middle distillates.
Goldman sees potential SPR release cutting H2 2022 Brent forecast by $15/b Crude prices fell sharply late March 30 on reports that the US was drawing up plans for a major release of up to 180 million barrels, almost a third of its strategic petroleum stocks, over several months to curb rising pump prices as Russia's invasion of Ukraine hits global oil supplies.
OPEC+ agrees to boost crude production by 432,000 b/d for May OPEC+ stuck to its production increase plan despite calls from consuming countries to release more oil to the market.
Tanker group Euronav halts operations with Russian clients, eyes higher bunker costs Russia supplies global bunker markets with 20% of demand, including 0.5% sulfur fuel oil, 3.5% sulfur fuel oil and marine gasoil markets, Euronav said.
Japan weighs government's involvement in LNG procurement amid Ukraine crisis As part of the measures, Japan will consider how the government could directly get involved in procurements of LNG, which are currently secured by the private sector, in times of emergency, a METI source said.
Zhoushan delivered MF 0.5%S bunker premium nears four-month high on tight stocks The strengthening of low sulfur fuel oil bunker sales since late-March have steadily lessened cargo availability, according to Zhoushan-based bunker suppliers March 31.
Germany says European buyers to continue payments in euros under new Russian rules Following talks with Russian President Vladimir Putin, Scholz's office said payments in euros would be converted into rubles by the state-run Gazprombank under the proposed new rules.
Singapore delivered 380 CST HSFO bunker premium nears six-month high HSFO bunker demand was said to be average amid fluctuating demand with slower days throughout March, local traders said, while the quality risks that recently surfaced have heightened buyers' anxiety to secure ISO compliant cargoes.
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