Chouest shipyard floats out Viking Mississippi Viking Cruises reports that its 386-guest Viking Mississippi river cruise vessel was floated out today at Edison Chouest Offshore's Laship shipyard in Houma, La. Set to debut in June 2022, the Jones
BIMCO: War in Ukraine will hurt growth in all shipping segments Niels Rasmussen, chief shipping analyst at BIMCO, is warning that the negative impacts of Russia's actions in Ukraine will have consequences for all sectors of shipping. Though much uncertainty remains, the immediate
BAE San Diego Ship Repair wins $125.5 million Navy contract The U.S. Navy has awarded BAE Systems - San Diego Ship Repair, San Diego, Calif., a $125,517,541 firm-fixed-price contract for the execution of fiscal 2022 docking selected restricted availability of the Wasp-class
Fully-electric ferry completes inaugural round trip The first fully-electric, high-speed passenger ferry in the southern hemisphere last month completed its inaugural round trip for New Zealand's East by West Ferries. The 19 meter long ferry, the Ika Rere,
PODCAST: Jones Walker's Jeff Tillery on what to do in a maritime emergency In this edition of Marine Log's Listen Up! podcast, we talk to Jeff Tillery, co-leader of the Maritime Litigation and Arbitration Team at Jones Walker LLP in New Orleans, on tips for
NTSB: Why an OSV collided with a Coast Guard buoy tender, twice The National Transportation Safety Board (NTSB) has issued its report into an October 11, 2020, incident in which an offshore supply vessel (OSV) twice collided with a U.S. Coast Guard cutter. The
Online charter launched to drive diversity and inclusion in shipping The International Chamber of Shipping has released a diversity and inclusion charter to encourage companies measure and improve their practices
Shipping 'hurt' by Ukraine conflict amid record volatility on commodities market Hurdles to ship cargoes from Russia are rising as underwriters and lending syndicates scrutinise details of each voyage. Financial and...
Berge Bulk sells another capesize for scrap as steel prices climb Berge Bulk has sold another of its ageing capesize bulk carriers for demolition while scrap prices are expected to continue...
Leading law firm to exit Russia Norton Rose Fulbright is closing its Moscow office and winding down its Russian operations. It says it will not accept...
UK shipping sanctions on Russian vessels have broad and unknown effects New regulations punishing Russia for its military incursion into Ukraine are less than entirely clear and will require considerable due...
Clarksons outlook 'strong' after record full-year results UK-based company says current geopolitical uncertainty 'could impact sanctions, exchange rates and commodity supply, alongside the global backdrop of inflationary...
Box volume growth subdued as new year begins Container lifting figures have been falling for several months. But this says more about the lack of capacity than a...
The week in newbuildings: Boxship owners sign $2.5bn worth of new orders Newbuilding contracts continue to be dominated by containerships and gas carriers, with major orders placed in the past week by...
Pre-sale inspections expedite S&P activity Owners are taking charge of vessel sales by preparing inspection reports, says chief executive of UK-based maritime services provider
Rising bunker prices threaten higher box freight costs Freight rates have been unaffected by Russia's military incursion into Ukraine. But rising oil prices are already driving bunker costs...
The week in charts: Russian blacklist tops 6,000 vessels | Tanker rates surge | Shipping needs better cyber security There are nearly 6,500 vessels linked to Russia, global exposure to the Russian newbuild orderbook is considerable, and several orders...
Daily Briefing 'Self-sanctioning' tankers drive Russia charter rates 1,600% higher | Underwriters said to be refusing cover for Ukraine war risks |...
PIL places first containership order for seven years When delivered, the ships will become the largest container vessels in PIL's fleet and the first vessels it operates to...
How invasion of Ukraine could ease shipping logjam off US ports War and price spikes could destroy demand, weaken consumer confidence and curb cargo volumes, warns BIMCO.
Air cargo helps Finnair restore some Asia service flying around Russia Finnair is a microcosm of the pressures on air cargo and airlines because of the airspace restrictions over Russia.
CargoX extends agreement with Egypt on transfer of global trade documentation Adoption of this technology is part of Egypt's 2030 Vision, a long-term strategic plan to achieve sustainable development across economic, social and environmental sectors. Since...
Expeditors reports 'meaningful progress' in cyberattack recovery Global logistics firm Expeditors International says it is moving closer to restoring key systems two weeks after a cyberattack.
Drivers taking up arms for Ukraine worsens European trucker shortage The truck driver shortage in the U.K. and Europe is getting worse with cross-border traffic being interrupted by the Ukraine crisis and Ukrainians going home...
Ports of the future with WickedHyper - Net-Zero Carbon Hyper rail systems could transport containers to and from ports quickly, according to WickedHyper's CEO.
Japan's ENEOS suspends new low sulfur bunker orders at Mizushima ENEOS, Japan's largest refiner, suspended accepting fresh orders for 0.5% sulfur bunker fuel oil at its Mizushima refinery in West Japan March 5 due to a technical glitch, a company source said March 7.
Asia residual fuels: Key market indicators for March 7-11 The Asian fuel oil market was expected to firm further over March 7-11 from the prevailing heady highs as the market pushes increasingly into trading for April-loading cargoes.
Aframax rates jump on risk-premium fears as EU eyes shipping ban on Russia The cost of chartering Aframax tankers to transport crude or oil products hovered at multiyear highs March 7 as the EU and Norway continued to eye a ban on Russian shipping and 'self-sanctioning' efforts to sideline Russian exports continue to curb demand for its seaborne oil.
BRAZIL DATA: Crude exports, product imports slide on year in January Brazil's exports of crude oil retreated year on year in January as state-led oil company Petrobras kept refinery run rates elevated to start 2022, but lackluster demand and little movement in domestic prices undermined refined product imports, the National Petroleum Agency, or ANP, said March 7.
European diesel futures rally outpaces Brent on heavier impact of sanctions The rally in European diesel futures has outpaced that of ICE Brent crude futures as the diesel market faces heavier impacts if sanctions on Russian oil and products exports come to fruition.
Europe cools on Russian energy sanctions, fears 'unmanageable' risks European leaders toned down March 7 threats of tougher energy sanctions on Russian imports of oil and gas after crude futures breached $130/b and the cost of natural gas surged.
REFINERY MARGIN TRACKER: USWC refiners replace Russian crude with Middle Eastern, Latin American grades US West Coast refiners are increasing imports of Latin American and Iraqi crude to replace Russian barrels, ceasing to buy ESPO, Sokol, and CPC Blend despite any official ban by the United States on imports of Russian crude, an analysis from S&P Global Commodity Insights Platts showed on March 7.
US crude inventories likely lower as refinery runs edge higher US commercial crude inventories likely fell by 700,000 barrels in the week ended March 4 as refinery runs edged higher, according to analysts polled by S&P Global Commodity Insights March 7.
White House confirms diplomatic trip to Venezuela to talk energy security The US sent officials to Venezuela to discuss energy security and detained US citizens, the White House confirmed March 7, after media reports indicated the Biden administration was in the early stages of considering lifting oil sanctions against the Maduro regime.
BRAZIL DATA: January refined-product sales retreat 6.1% on year on ethanol slide Brazil registered a 6.1% year-on-year retreat in refined-products sales in January as a sharp downturn in hydrous ethanol sales offset stronger-than-expected demand for diesel and gasoline in Latin America's largest economy, according to data released March 7 by the National Petroleum Agency, or ANP.
China outlines strategy to boost energy security amid Ukraine crisis China is taking steps to boost energy security but expects its imports of crude oil and natural gas should remain generally stable as long as suppliers comply with contracts, especially long-term contracts which account for a high proportion of total energy imports, Lian Weiliang, deputy director of the National Development and Reform Commission, said at a press conference held by the State Council Information Office on March 7.
More North Sea oil, gas needed as 'transition' measure to beat supply crunch: UK PM The UK needs to boost its energy self-reliance including through domestic oil and gas production as a "transition" measure in response to the current supply crunch, Prime Minister Boris Johnson said March 7.
OIL FUTURES: Crude rallies, but comes off highs as Europe tones down Russian oil ban talks Crude futures continued to rally March 7, but pulled back from intraday highs as European leaders toned down threats of tougher energy sanctions on Russian imports of oil.
President Biden keeps clean energy focus; stresses steps to combat high fuel costs Senate Democrats, including Joe Manchin of West Virginia and Edward Markey of Massachusetts, advocated for banning US import of Russian oil.
EUROPE AND AFRICA RESIDUAL AND MARINE FUEL: Key market indicators In downstream bunker markets, demand for 0.5%S was up on the week as suppliers anticipate tight availability in the coming weeks following Russia's invasion of Ukraine.
Norway considers ban on Russian vessels, following UK move Norway shares a far northern land border with Russia and the two countries delineated their sea border in the Barents Sea in 2010, helping foster economic collaboration, including a limited role for Russian companies in Norway's oil and gas industry.
AMERICAS BUNKERS: Key market indicators March 7-11 The volatility and soaring prices in crude futures and other global markers are expected to impact bunker fuel values in the Americas and might take them to new highs, as the war in Ukraine continues to unfold.
UK 'urgently reviewing' ban on Russian oil, gas imports after curbs on Russian shipping Lord Callanan's comments came soon after German Chancellor Olaf Scholz said that Europe needed Russian energy to ensure security of supply, saying Europe had "deliberately" excluded sanctions on the sector.
Wartsila, Peninsula join list of maritime companies halting business with Russia A lot of traders have avoided purchases of Russian energy products amid financial sanctions on Russian banks, while bunker suppliers have also come out openly to turn their back on Russian businesses to condemn the country's move.
FACTBOX: Russian metals industry's reliance on China set to rise as sanctions disrupt supplies Russian steelmaker Severstal said March 2 it was looking at alternative markets to export steel after facing challenges with European customers.
UK ponders ban on Russian oil and gas imports, lots of coordination needed: minister This comes after US Secretary of State Antony Blinken said the US and its allies were looking in a "coordinated way at the prospect of banning the import of Russian oil while making sure that there is still an appropriate supply of oil on world markets."
EC to unveil new energy security proposals March 8 The first is diversification of supply away from Russia and toward "reliable partners,2 von der Leyen said, pointing to mainly LNG and pipeline gas.
Essar seeks alternatives to Russian diesel in the UK amid outcry over shipments Last week, Essar said it turned away two cargoes of non-Russian origin crude, which would have been delivered in Russian-flagged tankers after the UK banned vessels on March 1 that are Russian-owned, operated, controlled, chartered, registered, or flagged from UK ports. But the restrictions do not include Russian cargoes carried by other vessels.
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
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