World's largest ethane carrier named in Houston ceremony London-headquartered global chemical company Ineos has named the world's first 99,000 cubic meter VLEC (very large ethane carrier) in a ceremony held in Houston today. The 230-meter long ABS-classed ship is named
Swedish tanker owner Furetank secures biogas supply While use of liquefied biogas (LBG) is seen as an important step towards fossil-free shipping, lack of supply is a major difficulty. To address the issue, Swedish family-owned shipping company Furetank has
First ship in new fleet oiler class starts trials USNS John Lewis (T-AO 205), the Navy's lead ship of its new class of fleet replenishment oilers, conducted initial builder's trials and returned to port, February 4, reports Naval Seas Systems Command
We need strong balance sheets to go green, say box lines Container lines need strong balance sheets to weather the green transition, Ocean Network Express chief executive Jeremy Nixon says. The...
Travlos succeeds Veniamis as Greek shipowners' leader An unprecedented five women have been elected to the UGS board after elections that brought 10 changes overall
No rates relief from Chinese New Year break The closure of factories in China normally brings some relief at this time of year. This year, however, only Asia-Europe...
Cargo insurers need to rethink post-Covid world, IUMI argues 'Our assureds are seriously rethinking the old lean, mean just-in-time process of inventory management and are moving to a just-in-case...
EU carbon market and fuel intensity regs would hamper each other, says Danish Shipping Danish Shipping says inconsistencies in the EU's carbon market and fuel carbon intensity proposals should be ironed out if the...
Höegh Autoliners nets $140m in fourth quarter Höegh Autoliners' most recent earnings statement reveals a strong fourth quarter. The company expects to benefit from market conditions in...
Shippers look for options to avoid Brexit congestion Increased levels of paperwork have led to congestion and delays at Dover. With further regulation coming later this year, shippers...
No let-up in pool claim pressure, Steamship confirms Circular from IG affiliate reveals that pool claims - widely blamed for double-digit percentage point rate hikes - are still...
Indonesian mega-port near Singapore draws objections The government is being asked to consider further expanding the largest port at Tanjung Priok in Jakarta and other major...
Korea Shipbuilding secures $440m LNG carrier order Two 174,000 cu m liquefied natural gas tankers will be built at Hyundai Samho Heavy Industries in South Korea. The order...
EuroDry reports best-ever financial quarter EuroDry commits to further growth after supramax acquisition brings fleet to 10 bulkers
Eastern Pacific to nurture nine more tech start-ups Most awarded start-ups have been selected via the company's third MaritimeTech Accelerator programme backed by US seed funding firm Techstars...
U-Ming seals $70m green loan to fund newbuilds Dry bulk operator U-Ming will be handed an interest rate cut if it meets a set of pre-agreed carbon reduction...
Daily Briefing Maersk sails into record books with largest shipping profit | Maersk scales back cargo accepted from forwarders | Maersk buys...
Singapore says cargo competition strong, clears Korean Air-Asiana deal Korean Air's cargo division is propping up the entire airline with passenger traffic still underwater.
World Shipping Council identifies 6 key elements to decarbonize shipping A carbon price is an "essential element in any decarbonization plan," John Butler, president and CEO of WSC, said during a press conference Thursday.
Will the carrier pay my cargo claim? The answer may surprise you In the absence of shipper's interest cargo insurance to protect the cargo owner against financial loss, carrier's liability is all that remains, and cargo owners...
Azul introduces 1st Embraer 195 cabin freighter Azul welcomes its first quasi-freighter, an Embraer regional jet with a stripped-down cabin.
Amazon Air launches daily service to Omaha, Nebraska Amazon Air is expanding further in the Great Plains.
Omicron surge in key Asian consumers dents global mobility recovery Mobility in Russia, Japan, and South Korea -- the world's fourth, fifth, and eighth biggest oil consumers -- fell in the week to Feb. 6, according to adjusted Google mobility data, as new COIVD-19 infections hit fresh highs due to the fast-spreading omicron variant.
Crude shipments remain halted to Russia's Tuapse; diesel restrictions lifted The Tuapse refinery fully halted crude offtake on Feb. 8 after limiting it at the start of this week as the nearby Black Sea port of Tuapse was closed due to a storm, Transneft said previously.
EU carbon revenues should be used to decarbonize shipping: lawmaker Liese's call came as the EU Parliament and member states are set to negotiate over the European Commission's July 2021 proposal to include CO2 emissions from shipping in the bloc's carbon market in a phased in approach from 2023.
OIL FUTURES: Crude oil price rises amid strong US stocks draw, eyes on Iran development The EIA reported that crude oil inventories in the US fell by 4.76 million barrels over the last week, which surprised analysts. Inventories are at their lowest point since 2018.
REFINERY NEWS ROUNDUP: European plants ramping up renewables projects An increasing number of oil companies are partnering with airlines and airport operators on sustainable aviation fuel (SAF), with Italy's Eni and the operator of Milan's airports being the latest.
Japan's MOL operates bunkering vessel using biodiesel fuel The BDF used for the vessel as fuel was fatty acid methyl ester generated through transesterification of collected waste cooking oil with methanol, MOL said in a statement Feb. 9, adding that the use of this fuel was expected to reduce CO2 emissions by 25%-30% when compared to conventional fuel oil.
Steep backwardation in European refined products, crude deterring arbitrage cargoes: traders The narrowing of arbitrage opportunities in recent weeks has affected prompt marine fuel paper prices, with the structure flattening slightly from a high of $20.25/mt seen on Feb. 4.
Hong Kong's COVID-19 regulation change seen having little effect on bunker demand When ships come to Hong Kong from Group A countries to load bunker fuel without cargo workings, they need to take 14 days after leaving the Group A countries before visiting Hong Kong.
Asia rethinks oil supply, fiscal strategy as crude races toward $100/b Although the oil demand outlook for top consumers China and India looks resilient following a lengthy period of pandemic-hit uneven growth, keeping the oil import bill in check is one of the biggest priorities in Asia at a time when governments are desperate to allocate funds for economic revival, analysts said.
Sri Lanka's Hambantota port hits cargo handling, bunkering milestone Despite the hurdles posed by the coronavirus pandemic, HIP achieved an overall throughput of 2.3 million mt of cargo, with a sharp 38% rise in RORO operations, the Hambantota International Port Group said in a statement on Feb. 8.
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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