American Offshore Services secures Orion Infrastructure financing for CTV build Offshore wind crew transfer vessel (CTV) owner and operator American Offshore Services LLC (A-O-S) has formed a strategic partnership that will see Orion Infrastructure Capital provide financing to build a series of
Marell Boats and Scania to introduce hybrid interceptor Swedish boat builder and designer Marell Boats has teamed with Scania Power Solutions to develop a next generation 17.4-meter interceptor with a hybrid driveline, the M17 Patrol. The vessel is being developed
Union of Greek Shipowners elects its first female president For the first time in its 106-year history, the Union of Greek Shipowners (UGS) has elected a woman to be its president. She is Melina Travlos, chairwoman of Neptune Lines Shipping &
Peruvian tug operator opts for Schottel mechanical hybrid solution A tugboat on order at Cheoy Lee Shipyards in Hong Kong for PSA Marine Peru will be equipped with Schottel RudderPropellers featuring the patented Sydrive-M technology. Sydrive-M connects a vessel's port and
Senate appoints former longshoreman as FMC commissioner The long-time union member becomes the fifth member of the FMC, succeeding Republican Michael Khouri, whose five-year term formally expired in...
HCOB ready to finance 'booming' boxship companies after clocking up 25% return on equity 'On a mid-term view, I think rates will stabilise or even reduce, but liner companies will still earn a lot...
Zim extends charters from Navios Partners to 13 boxships 'Attractive transaction' for Israeli operator will generate $870m in charter hire for Angeliki Frangou-led Navios Partners
Why the Trinity Spirit FPSO explosion was not a safety anomaly The case of the Trinity Spirit - an unflagged, unclassed, 46-year-old FPSO owned by a defunct company in receivership which...
Russian crews co-operating with Ukrainians, say managers While Ukraine has complained that Russia has blocked parts of the Black Sea and Sea of Azov under the pretext...
Containership bonanza offsets decades of financial underperformance The extraordinary profits that container lines are reporting for 2021 will be needed as the industry prepares to decarbonise, but...
Week in Newbuildings: Zero-carbon PCTCs in vogue Eight PCTCs have been ordered, and are understood to be backed by long-term charter contracts
Safe Bulkers $114m Greek bond is oversubscribed US-listed bulker owner becomes third shipping company to sell bonds for trading on Athens Exchange
Bubbling under: Silverstream's air lubrication orders hit $100m With no agreement on future fuels, emission-saving technologies will see demand grow as sustainability deadlines approach. Cruiseships, containerships, and LNG...
CMA CGM to ban waste plastic cargoes Many countries to which waste plastic is exported have insufficient storage and handling facilities. If it ends up in the...
Box shipping's return to normal will see off smaller tonnage The pandemic's supply chain crisis has led to extraordinary situations in container shipping. When normal service resumes, overcapacity could rear...
Study calls for greater support for seafarers Seafarers say that while their mental health needs are addressed, there is a need for greater assistance, notably on crew...
Eastern Pacific exercises PCTC option at Jinling Weihai Deal brings the number of dual-fuelled PCTC ordered by Eastern Pacific Shipping at China Merchant yards to at least 10
Daily Briefing Greek shipping has a new leader | No rates relief from Chinese New Year break | No let-up in pool...
Pacific Basin shares surge on record earnings and BDI rebound Higher than expected full-year profit marks the best-ever performance for the Hong Kong-listed company
Delta Air Lines suspends some Canada cargo shipments because of protests The ripple effect of the anti-COVID truck protests in Canada is spreading to aviation.
FMC considering PierPass overcharge investigation West Coast terminal operators could be taking advantage of supply chain disruptions by overcharging shippers for using night gates.
Viewpoint: The hard truth about the trade deficit Dysfunction at the nation's largest port helps explain why the U.S. is losing the trade war to China.
The Love Plane: Emirates' top 5 air cargo gifts for Valentine's Day Remember "The Love Boat"? Today, we present the Love Plane, bringing your sweetheart goodies for Valentine's Day.
The Light Load: Supply chain gets personal - gravy shortage edition They can take my gravy when they pry it from my cold, greasy skillet.
Norwegian company Aker Clean Hydrogen boosts project portfolio to 2 GW Norwegian company Aker Clean Hydrogen has increased its portfolio of projects to 2 GW
Ukraine to meet demand for oil products if Belarus shuts supplies Ukraine's largest oil refinery UkrTatNafta said it was ready to increase production of gasoline and diesel fuel in the event of Belarus shutting supplies of oil products to the country.
US Congress needs to 'start doing something' for clean hydrogen: Manchin Democratic Senator Joe Manchin signaled strong support for clean hydrogen tax credits during a Feb. 10 committee hearing
Crude rallies over $4/b as US warns of possible Russian invasion of Ukraine soon Sharp rise in crude oil futures as US warns of possible Russian invasion of Ukraine in near future
Global refinery runs increase lags behind demand growth: IEA Despite the "major ramp-up" in global refinery activity in the last quarter of 2021, product inventories continued to decline, the IEA said, noting that the start of seasonal maintenance "from February onwards" will add further pressure to balances.
OIL FUTURES: Crude firm after IEA highlights tight stocks The IEA, in its monthly oil market report, said the supply shortfall could deepen if OPEC+ continued to struggle to raise output.
REFINERY NEWS: South Africa's Sapref to halt operations "indefinitely" by end March Sapref, South Africa's largest refinery, will halt operations no later than the end of March, its two shareholders said in a statement.
REFINERY NEWS: Rosneft's 2021 throughput at Russian refineries up 2.3% on year Russia's Rosneft said that throughput at its Russian refineries in 2021 rose 2.3% on the year to 95.1 million mt. In Q4, they processed 23.4 million mt, up 1.6% on the year
ARA fuel oil stocks down 10.18% on week at 1.094 mil mt: Insights Global Fuel oil stocks in the region represented 21.98% of total refined oil product stocks in the region, which is lower than last week's percentage share at 24.3%.
BUNKERWORLD INDEX: Supply limits support bunker prices amid wobble in crude markets *Limited blendstock decreases availability of VLSFO at Fujairah *Tightness across all grades at Rotterdam likely to persist *High freight, resupply costs limit VLSFO availability at Panama
Oil market could shift into surplus in 2022, but only 'small cushion': IEA In its monthly oil market report, the IEA trimmed it demand growth forecast for 2022 to 3.23 million b/d but still expected demand to exceed pre-pandemic levels, averaging 100.58 million b/d.
Crude shipments to Russia's Tuapse resume, loadings halted at Novorossiisk The Tuapse refinery 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.
SINGAPORE DATA: Residue stocks fall for second week as fuel oil exports rise The decline came on the back of a jump in fuel oil exports, and a slight dip in imports over the same period.
Rise in Feb premiums for Singapore ex-wharf 380 CST HSFO capped by stock build The increase was capped by HSFO stocks rising in early February after a slight shortage of cutter stocks with 2.7% sulfur content for the blending pool had limited supply of readily available cargoes for prompt delivery in January, traders said.
Fujairah delivered marine fuel 0.5%S premium at 11-month high on lower stocks, limited barges The Middle Eastern bunker hub of Fujairah faces tightening supply of the readily available International Maritime Organization-compliant bunker fuel grade due to a shortage of components for the LSFO blending pool, according to local bunker suppliers.
Singapore VLSFO-HSFO spread hits two-year high amid tight 0.5%S MF supply The persistently steep backwardation has also served to discourage additional incremental arbitrage volumes shipped to Singapore, traders have said.
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