Shipping losses fall, but that's not the whole story First the good news, then the bad. That's the main take away from marine insurer Allianz Global Corporate & Specialty SE's Safety & Shipping Review 2022. The good news is that though
MARAD: Another $234.3 million added to port infrastructure grant funding The U.S. Department of Transportation's Maritime Administration (MARAD) has announced that up to $684.3 million is now available for Port Infrastructure Development Program (PIDP) grants. The grants will be awarded, on a
MAN Cryo lands order for advanced FGSS solution A new series of ultra eco-friendly dual-fuel car carriers ordered by Wallenius Marine for charter to Volkswagen will be even greener. They will feature a first of its kind fuel gas supply
Pacific MR rates climb on Atlantic volatility Transatlantic crude and refined products trade flows are soaring as geopolitical instability, oil price volatility and refined products trade dislocation...
CMB.Tech unveils hydrogen engines A joint venture between Belgium's CMB.Tech and Anglo Belgian Corporation unveiled heavy duty hydrogen engines to help decarbonise heavy industry
Ample South American grain exports will keep bulkers busy While the total east coast South American exports of wheat, corn and soyabeans in July to September are estimated to...
Hapag-Lloyd consortium signs Damietta terminal concession Hapag-Lloyd is trying to secure its network via stakes in transhipment hubs. Its latest sees it teaming up with familiar...
UK minimum wage Bill is flawed, argues British Ports Association British Ports Association says enforcing the minimum wage is not an area where ports have a core competency
Total losses continue downwards trend, according to Allianz report Progress reflects increased focus on safety measures over time, through training and safety programmes, improved ship design, technology and regulation
Ukraine invasion is amplifying pandemic disruption, warns Allianz More fires, increased incidence of general average, use of tanker and bulkers to carry boxes and owner decision to extend...
Lockdown effects will linger after Shanghai reopens Shippers will be unwilling to risk the delays in shipments suffered last year and will book early. But a surge...
Safety focus for new generation of vehicle carriers Safety features incorporated into new ships as high-profile car fires on pure car and truck carriers suggest existing regulations do...
Capesize secondhand values up by 9% With freight rates in the capesize sector having risen by 61% in the past week, and supramax rates also registering...
Japan to phase out Russian oil imports following G7 meeting Cutting crude oil from Russia, which made up 4% of its total imports, appears less challenging for Japan. The country...
China grants cabotage container shipping to non-mainland Chinese carriers Maersk says it is preparing the first shipment in Shanghai's Yangshan terminal
Skuld extends run of technical deficits with $30m loss 'Behind us lies another extraordinary year. The Covid-19 crisis has had many consequences for the insurance sector and ocean industries,'...
CMA CGM joins net-zero LNG coalition LNG's role in decarbonisation has been highly debated. But CMA CGM hopes that LNG synthesised using captured carbon can provide...
Indonesian shipping rises on India's coal import drive Indonesia is the second-largest source for Indian coal imports, with 12.6m tonnes, accounting for a 30.3% share
K Line sets up shipmanagement company in Singapore Separately, K Line's maritime technical functions scattered in the Safety and Ship Quality Management division and each business division will...
Daily Briefing International Seaways adopts 'poison pill' to block Fredriksen takeover | US bans 70 Russia-flagged ships after G7 meeting | Unions...
FOSC chat: Live animals pose unique supply chain challenge for PetSmart PetSmart's complex supply chain includes the shipping of more than 50 million crickets annually.
Senate confirms Phillips to lead Maritime Administration Ann Phillips will take over at the U.S. Maritime Administration as the agency receives a fresh boost of funding for port infrastructure.
Hi-5 spread shrinks as EU's Russian oil embargo plan threatens HFSO supply Current Hi-5 level is still well above 2021 average of $110/mt.
Crude declines on EU embargo holdups, while diesel soars NYMEX front-month crude settled at $99.76/b, down $3.33.
REFINERY NEWS: Lithuania's Orlen Lietuva starts maintenance: media report The refinery had previously said it planned to suspend operations in May for a major maintenance, which would last from May 22 to June 14, S&P Global Commodity Insights reported.
INDIA DATA: March LPG imports rise 15% on month to 1.45 mil mt Imports in Q1 2022 averaged 1.365 million mt, down 3.81% from 1.419 million mt in Q1 last year, the data showed, as importers faced higher international prices driven by stronger crude futures.
Nigerian oil output falters again as security, technical issues linger Key export grade Bonny Light has been pumping at around 60,000 b/d in recent weeks, compared to its full capacity of 250,000 b/d.
REFINERY NEWS: Japan's ENEOS shuts Kashima CDU for maintenance ENEOS, Japan's largest refiner, shut its sole 168,000 b/d crude distillation unit at its Kashima refinery on the east coast May 10 until mid-July for scheduled maintenance, a company spokesperson said.
Japan mulls using public finance for US LNG expansion: minister Japan intends to contribute to starting up these US projects with public financial support and proceed to cooperate with the US in order to stabilize global LNG supply, he said.
Saudi, UAE energy ministers say NOPEC bill risks destabilizing the oil market OPEC and its allies are being blamed unfairly for the energy crisis, when other commodities are also seeing high prices, Saudi energy minister Prince Abdulaziz bin Salman said.
Dutch Gasunie to deploy second floating LNG import vessel at Eemshaven Dutch gas infrastructure operator Gasunie has agreed to deploy a second floating LNG import facility at the port of Eemshaven in the north of the Netherlands, with the vessel set to arrive in the third quarter of 2022, it said May 10.
MOL to build four more LNG-fueled car carriers, undertake other green shipping initiatives MOL in 2021 signed an agreement to construct LPG-fueled very large gas carriers to transport LPG and ammonia. The company in February completed a concept study on an ammonia floating storage and regasification unit and embarked on the development of alternative fuels.
Sri Lanka struggles to find fuel suppliers amid deepening economic crisis, growing non-payment risks Data from Platts cFlow, ship and commodity tracking software from S&P Global, and Kpler showed the Torm Adventurer, a Medium Range tanker laden with gasoline and chartered by a European trading house, has been floating off Colombo since at least March 29.
OIL FUTURES: Crude prices drop back further amid selling pressure Oil market remains under selling pressure after EU countries failed to reach agreement on whether to impose new sanctions on Russian oil.
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