U.S. Treasury takes aim at Putin's yachts Today, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) took further actions aimed at degrading the key networks used by Russia's elites, including President Vladimir Putin, to attempt
LNG carrier completes landmark autonomous voyage In a world first, the 180,000 cu.m LNG carrier Prism Courage arrived at the Boryeong LNG Terminal in South Korea today after completing a 33 day voyage from the Freeport LNG terminal,
NTSB reports on $700,000 fire on 64-year old towboat An engine room fire aboard a towing vessel was caused by overpressurization of the fuel day tank and a main engine fuel return system when a fatigued chief engineer inadvertently left the
China Merchants Port issues $500m in bonds The proceeds will be used to support the company's daily operations, including the repayment of existing loans
FMC probe absolves carriers of profiteering blame A two-year investigation by FMC commissioner Rebecca Dye concluded that elevated freight rates are a result of a surge in...
Daily Briefing Dozen ships alongside in Ukraine could be declared total losses | Owners put heat on fuel suppliers ahead of EU...
Air cargo market fades 8% in May, faces summer of uncertainty The air cargo market continues to lose altitude in the face of an overall economic slowdown and supply chain dislocations. Whether swiftly changing conditions enable...
Ship fuel enters uncharted territory as prices hit new wartime peak It took longer than expected, but the IMO 2020 investment pitch - save on ship fuel by installing scrubbers - is paying off big time.
Atlas Air adds freighter for Cainiao as Boeing winds down 747-8 production The last four 747-8 freighters to roll off Boeing's production line this year are going to all-cargo operator Atlas Air, which announced Thursday the first...
OPEC+ decides to speed up oil production hikes to offset sanctions on Russia OPEC+ ministers will meet again June 30 to monitor the agreement and reassess market conditions, the coalition said in a statement.
EU ban on insuring Russian ships signals potential oil market risk Insurance could also add to already high shipping costs, with freight rates assessed by S&P Global Commodity Insights at elevated levels this year.
Russia seeks to shore up Middle East ties with OPEC+ set to meet on July oil quotas Russian foreign minister Sergei Lavrov was in Saudi Arabia for talks with counterparts from the region, while a delegate-level OPEC+ advisory technical committee was convening to review market conditions.
Russian foreign ministry says EU oil sanctions will lead to further price rises Hungarian imports via Druzhba are currently at around 20,000 mt/day, Peter Szijjarto, Minister of Foreign Affairs and Trade of Hungary said June 2.
China Sinopec forays in Singapore bunker market With Sinopec addition, there are now 42 licensed suppliers in Singapore, which has seen its accredited bunker supplier list shrink from over 50 in September 2017 to 45 in January 2021 and 41 in August 2021.
EU Russian ships insurance ban to distort commodities trade: sources Sources with a few tankers charterers in Asia said a small part of the global tankers and dry bulk fleet has already started to specialize in trading in Russian oil, coal, grains and refined products, notwithstanding the financial roadblocks.
MARINE FUEL 0.5%S: Supply tightness on cutter stock shortage to remain through summer The global marine fuel 0.5%S market saw extreme supply tightness in May because of a lack of cutter stock, a trend sources said is likely to continue in the coming months.
FOB Singapore MOC fuel oil trades rise 6.5% on month in May Singapore marine fuel 0.5%S trade volume fell 12% month on month to 440,000 mt in May, the data showed.
China tight LSFO stocks push Zhoushan-delivered differentials to fresh highs Platts started assessing Zhoushan-delivered marine fuel 0.5%S from July 1, 2019.
Beijing focus on energy security to undermine Chinese fuel outflows, refiners' export earnings Surging Asian middle distillate cracks have encouraged major refiners in South Korea and India to ramp up fuel exports, but Chinese refiners have been unable to capture the lucrative margins, the strategist said.
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