Foss barges to become smart feeder barges for Vineyard Wind 1 DEME Offshore US has entering into a long-term agreement with Netherlands based motion compensation specialist Barge Master to develop technology that will be deployed in a pioneering feeder concept on the Vineyard
Methanol-to-hydrogen generator gains Lloyd's Register AIP The technology that's key to the the Hydrogen One towboat project has received Approval in Principle from classification society Lloyd's Register. That technology - e1 Marine's methanol to hydrogen generator - allows
Navy awards Austal USA $230.5 million EPF contract Shipbuilder Austal USA has been awarded a $230.5 million contract for the detail design and construction of EPF 16, the U.S. Navy's newest Expeditionary Fast Transport (EPF) ship. EPF 16 will be
Maersk reports "best earnings quarter ever" A.P. Moller - Maersk (Maersk)may no longer be quite the world's largest operator of containerships, but it continues to be a money machine, reporting record results for first quarter 2022 across all
Maritime insurance sector considers worst-case scenario of ammonia spills Vessels that fall out of class for failing to meet Energy Efficiency Existing Ship standards and Carbon Intensity Indicator benchmarks will...
Fredriksen raises Euronav stake With the Saverys family stake now at 16.49%, battle lines are being drawn in advance of Euronav's May 19 AGM
Nigeria's ransom ban would put seafarers at risk, warn security experts Banning ransom payments would be unenforceable and target the victims, not the kidnappers, critics say
Automation again at the centre of US labour negotiations Unions are adamant that automating shoreside operations at terminals will lead to fewer jobs for their members. But terminal operators...
Maritime decarbonisation centre adds bunker group as partner Centre aims to help the maritime industry cut its carbon emissions by shaping standards, deploying solutions, financing projects and fostering...
Ukraine conflict pushes tanker rates 230% higher for International Seaways and Ardmore Shipping Trade dislocations seem 'likely to persist beyond the immediate period of heightened tensions', says Ardmore
Wallenius Wilhelmsen sees strong start to 2022 despite pressures Vehicle production market recovery key driver for revenue increases with strong development in freight rates driven by Asian exports to...
Veson Nautical acquires Q88 in push for data standardisation Acquisition follows significant equity investment in Veson that will enable the company to pursue a multifaceted growth strategy and support...
Europe's ban on Russian oil to further reconfigure tanker trade routes Embargo adds momentum to the dramatic rebound in earnings seen across most sectors of the global tanker fleet as trade...
Maersk boosted by contract commitments and integration The outlook for normalisation in container shipping remains clouded, and economic risks are increasing. But Maersk is confident it can...
Blockchain shipping group moves to digitally enhance trade finance 'The need to further digitise trade has been made abundantly clear by the pandemic,' says HSBC's Ajay Sharma
Maersk posts record $9bn first-quarter earnings on higher rates Higher freight rates have more than offset the reduced lifting volume and increased bunker and handling costs. Terminal operations booked...
MMA Offshore sells Batam shipyard to Wasco Shipyard in Indonesia will be sub-leased to Malaysia-listed oil and gas company Wasco until the completion target date at the...
Daily Briefing Sanctions force massive Sovcomflot tanker sale | Sovcomflot vessels head into opaque network of subterfuge operators | North Standard merger...
China lockdowns are not causing shipping chaos, say liner CEOs 'Right now, we don't see a huge buildup of volumes because of the closedown in Shanghai,' reports Maersk CEO Soren Skou.
Airport congestion masks softening in trans-Atlantic air cargo More planes and less cargo haven't translated yet to a big drop in shipping prices between North America and Europe because of airport logistics problems.
European weekly fuel oil exports to Asia drop: Kpler European fuel oil exports to Asia to drop in the week starting May 2 according to Kpler shipping data
Low inventories drive US diesel prices to record highs US diesel prices rise to record highs due to low intentories
US crude exports remain elevated, SPR cargo enroute to Italy US crude exports remained elevated through April
Crude futures hit two-week highs as EU reveals draft embargo of Russian oil Crude futures rose to two-week highs May 4
OIL FUTURES: Crude rises as EU proposes ban on Russian oil EU member states will face problems giving up Russian imports, given their previous dependency. Moreover, limited extra capacity in European refineries is unlikely to fill the gap for refined products such as diesel.
EU's proposed ban on Russian crude likely to reshape global oil market Germany, Europe's largest consumer of Russian energy and second-largest buyer of Russian crude, has seen most of its refiners and oil importers switch away from Russian supplies in recent weeks, allowing the country to slash its dependence on Russian crude to 12% of its imports from 35% before the invasion of Ukraine.
EUROPE AND AFRICA RESIDUAL AND MARINE FUEL: Key market indicators Increased gasoil prices have led low sulfur straight run barrels coming out of Skikda, Algeria, to flow into feedstock markets, rather than into very low sulfur fuel oil pools.
FUJAIRAH DATA: Oil product inventories build after hitting three-week low Stocks of heavy distillates and residues used as fuels for power generation and marine bunkers rose 1.8% to 11.268 million barrels and have built in five out of the last six weeks.
Monjasa supplies first bio-bunker fuel blend in UAE Monjasa sold 5.7 million mt of bunker fuel in 2021, the company's annual report showed April 7.
Maersk sees strengthening freight rates, ongoing uncertainties in 2022 S&P Global assessed delivered 0.5%S fuel oil at Rotterdam at an average of $741/mt in Q1, up 63% on the year.
China's efforts to limit oil product exports gain speed in quest for net-zero While the strategy is part of efforts to move toward the net-zero target by 2060, sources said Beijing is working toward ensuring that the restricted oil export policy does not affect the supply of bonded bunkering fuel oil and bonded jet fuel for ships and flights going to international destinations, despite these supplies being counted as exports.
Lured by cheap oil, India becomes largest customer of Russian Urals crude Around a quarter of Russia's seaborne crude exports of the medium sour Urals in April is poised to travel to the South Asian country, according to trading sources and ship tracking data.
Asia residual fuels: Key market indicators for May 4-6 Singapore is expected to receive about 1.6-1.7 million mt of low sulfur fuel oil cargoes in May, compared with 2-2.5 million mt of typical monthly bunker sales.
China's Sinochem supplies its first bonded LSFO bunker in Zhoushan: source Sinochem aims to supply 100,000 mt in 2022, with an 8,500 cu m storage tank rented for logistics in Zhoushan, according to the source.
EU proposes phasing out Russian crude oil imports within six months Europe is particularly dependent on Russian oil and was importing about 2.7 million b/d of crude and another 1.5 million b/d products, mostly diesel, before the Feb. 24 invasion.
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