VIDEO: Virginia-class submarine Montana completes sea trials Huntington Ingalls Industries (NYSE:HII) reports that the Virginia-class fast attack submarine Montana (SSN 794) successfully completed its initial sea trials last week. Built at HII's Newport News Shipbuilding division, the submarine spent
HOS to add 3 more OSVs to its fleet Hornbeck Offshore Services Inc. (HOS), Covington, La., continues to grow its fleet. Less than a month after announcing an agreement to acquire 10 vessels from Edison Chouest Offshore, HOS reports that it
Grounded tug and barge refloated A tugboat and barge that grounded off Florida, February 3, have been successfully refloated and are now in Port Everglades for inspection and repairs. The tug Sea Eagle and the barge are
Next-gen Eneti WTIVs will feature advanced ABB solutions Two $330 million wind turbine installation vessels (WTIVs) on order for Eneti, Inc. at South Korean shipyard Daewoo Shipbuilding & Marine Engineering (DSME) will feature advanced power, automation and control systems, real-time
SNL duo get extra time to find new home for retired Staten Island ferry New York City has given the buyers of the retired Staten Island John F. Kennedy ferry extra time to move the vessel. As we reported earlier, the vessel was bought an online
Giant wind turbines could face installation bottlenecks By 2030, more than half of all wind turbines installed offshore will be super-sized units of more than 8 MW capacity. That is one of the findings of research by Norway's Rystad
Port of Little Rock awarded $570,000 to upgrade security The Little Rock Port Authority in Arkansas says that it was recently awarded a $570,000 grant from the Department of Homeland Security/FEMA to upgrade the security camera system throughout the growing port
UK touts shore power plans despite funding gap A delayed policy move on UK shore power in ports has been further extended while the government awaits the results...
EU's dirtiest ports 'comparable to the biggest coal plants' Emissions from the supply chains of the EU's three biggest ports - Rotterdam, Antwerp and Hamburg - are higher than...
Cleaves' shipping fund positive on dry bulk The fund, which launched late last year, is 52% exposed to the dry bulk sector. It dropped gas shipping positions...
Schedule recovery remains a distant goal Even if all the other constraints in box shipping were solved immediately, schedules will remain disrupted. And there are few...
Between the Lines: Bad news for shippers in 2022 Freight rates are expected to remain at record highs, as congestion problems that plagued 2021 continue. Schedule reliability will also...
Eagle Bulk chief says fleet will not be buffeted by China slowdown Chief executive of US-based company says it is in a 'good position' this year, continuing on from 2021's strength, with...
Gulf of Guinea antipiracy system takes shape The Maritime Collaboration Forum Gulf of Guinea Shade forum hopes to mirror the approach used to fight Somali piracy by...
Year-end surge takes box volumes to new highs Container volumes have grown by less than 3% a year over the course of the pandemic. But congestion and capacity...
The week in charts: Casualty figures flatline | Lull in demolition market | Containership S&P market has record year Early data suggests 2021 could see a slight rise in casualties, 23 vessels scrapped in January, over 550 boxships changed...
Daily Briefing Fredriksen plots green tech future for Seatankers empire | South Korea shipowners deny government price-fixing charge | The Lloyd's List...
FMC to consider regulating ocean carrier billing practices The FMC is considering minimum billing standards for late fees charged by ocean carriers for picking up and returning containers.
Price of ship fuel surging, poised to eclipse all-time high The cost of ship fuel looks like it's about to topple records set in 2012 and 2008.
Flexport winning $8B valuation with tech-enabled global logistics No. 7 on FreightWaves' 2022 FreightTech 25 is landing $935 million in a series E round led by Andreessen Horowitz and MSD Partners.
Textron completes 1st SkyCourier feeder freighter for FedEx FedEx operates about 280 small, turboprop cargo aircraft. New ones starting to enter the fleet are bigger and more capable.
UK eyes increased on-shore power for shipping at British ports amid significant cost challenges Shore power will be vital to decarbonizing the maritime sector, the government said in a statement Feb. 7.
Some Russian refineries reduce crude offtake, ports closed due to bad weather On and off storms have hindered port operations in the Black Sea.
EUROPE AND AFRICA RESIDUAL AND MARINE FUEL: Key market indicators this week The VGO market continues to be affected by bad weather in the Black Sea, a key exporting region in the high sulfur market. The bad weather is causing delayed loadings of VGO from Russian ports and vessels getting stuck in the region. This has impacted prompt Black Sea freight rates.
OIL FUTURES: Crude consolidates above $90/b, supply concerns remain The crude market was taking a breather, Commerzbank commodities analyst Carsten Fritsch said in a note.
Pricing economics lifts scrubbers' prospects amid thrust for cleaner fuels The payback was notwithstanding the COVID-19 outbreak and the oil market collapse in calendar 2020, with average savings of about $150/mt against very low sulfur fuel oil for the quarter, the company said.
Asia residual fuels: Key market indicators for Feb 7-11 Demand for low sulfur fuel oil bunkers in Singapore is set to pick up during the week after buyers had covered forward requirements for the Lunar New Year festive season since late-January, market sources said.
Zhoushan's Feb term ex-wharf marine fuel 0.5%S premiums soften from Jan to $9-$12/mt Market sources attributed the softening to Chinese refiners producing more LSFO after the government raised export quota volumes in its first batch of allocations for 2022.
Singapore delivered marine fuel 0.5%S bunker differential to HSFO at 2-year high Sellers have increasingly shortened HSFO bunkering lead times to 2-5 days to date in February from 7-12 days in January, market sources said.
OIL FUTURES: Crude mixed amid profit-taking, bullish outlook Analysts said investors were booking profits following the rally but buying interest remains supported in the near term amid tight supply concerns.
Asia refiners unfazed by US-Moscow tensions, see plenty of alternatives for Russian crude South Korean and Japanese refiners are drawing up contingency plans in case escalating tensions lead to hurdles doing businesses with Russian oil entities.
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