ABS in joint development project with SpaceX With names like Of Course I Still Love You and A Shortfall of Gravitas, SpaceX's autonomous rocket recovery drone ships have quite a fan base of followers of their own. Now SpaceX
WSF to issue new RFP for hybrid-electric ferries Washington State Ferries (WSF) is to rebid the contract to build its new series of hybrid-electric Olympic class (HEOC) vessels. WSF has nearly completed the functional design for the vessels, which are
Acta Marine orders two next-gen methanol dual-fuel CSOVs Rotterdam-headquartered Acta Marine has signed a contract for the construction of two next-generation offshore wind construction service operating vessels (CSOVs) at Turkey's Tersan Shipyard. Built to a new SX-216 Twin-X stern design
Chinese crude demand to contract for 'first time this century', says IEA Chinese imports underpin the health of VLCC demand, with falls adding pressure on the segment, with charter rates below breakeven...
Denmark maintains white list top spot Paris MOU publishes its latest white, grey and black lists that provide an overview of 68 flag state's inspection and...
UK's freight plan calls for government-industry partnership The aim of the plan is to embed a multimodal approach to logistics within government
OceanPal acquires fourth vessel in first expansion since launch Spot-oriented spin-off will pay 80% of the $22m purchase price in the form of preferred shares
Lines demanding volume commitments from shippers Retailers seeking guaranteed slots now face deadfreight bill if they do not come up with enough boxes to fill them...
No volume surge seen yet at Shanghai port Lingering restrictions on road transport and a shift of cargo flows to nearby ports seem to be hampering a further...
Livestock carrier casualties drive push for reform Third serious casualty involving a livestock carrier this year highlights low standard of operations for much of the industry ...
Sing Fuels acquires Greek bunker brokerage to support European expansion Team in Greece will continue to be led by Irene Notias, the founder of Prime's Bunkers, now as the country...
Rail dwell times holding up easing of congestion After making significant progress to improve cargo flows across its docks, Los Angeles is being hit by a slowdown in...
Reducing vessel speed is 'most powerful way to cut emissions' Reducing speed has an immediate impact on fuel consumption and emissions, while technical measures are still of limited value. A...
West coast labour negotiations to extend beyond contract expiry The ILWU and PMA expect talks to continue beyond the July 1 expiration of the current labour contract. But neither...
Prolonged slow steaming brings operational issues Crew operating a vessel must be familiar and given authority to overwrite the engine system, both safely and rapidly, when...
Climate alignment data reveals extent of shipping's decarbonisation challenge Major data disclosure from ship charterers and operators representing more than 15% of total bulk cargo transported by sea last...
Shipping sector should use start-ups to meet green aims While funding is often not an issue for start-ups in the maritime sector, they require greater recognition
Daily Briefing About 80 ships still trapped in Ukraine, says Lloyd's agent | Biden to sign Ocean Shipping Reform Act into law...
Will the Shipping Reform Act help rebalance scales? The FMC chairman thinks so. Federal Maritime Commissioner Dan Maffei says in an interview that the bill will return "credibility to the supply chain."
Georgia ports reach all-time record in May A number of East Coast ports saw volumes increase in May, and Savannah was one of them.
UPS, pilots tentatively agree to extend contract 2 years The union representing more than 3,300 UPS pilots has reached a tentative agreement with the express delivery company on a two-year contract extension, both sides...
PayCargo, fintech for freight, lands $130M from Blackstone Group Blackstone Group, one of the premier New York investment groups, is putting $130 million on fintech/freight tech firm PayCargo.
Biden seeks helps from US refiners to increase gasoline, diesel supply
Crude tests two-week lows after Fed announces largest rate hike in 28 years Crude oil futures settled near two-week lows
Med-NWE gasoline arbitrage opens as ARA supply tightens The Mediterranean gasoline market has seen strong local demand recently, but production has been able to ramp up slightly.
Product markets to remain tight despite refining capacity expansion: IEA Even as global refining capacity is estimated to expand by 1 million b/d in 2022 and 1.6 million b/d in 2023, boosting throughput by 2.3 million b/d and 1.9 million b/d, respectively, the IEA voiced concerns about the supply of diesel and kerosene in particular.
IEA warns global oil supply could struggle to match demand in 2023 on Russia, OPEC constraints Despite triple-digit oil prices for much of 2022, a Dated Brent benchmark that has spiked above $130/b in recent days and evidence that high prices are now hurting demand, the IEA sees oil demand growth of 2.2 million b/d next year compared with 1.8 million b/d growth this year.
Russia's seaborne crude exports flow at three-years highs despite sanctions shake-up Compared to pre-war levels in January and February, Russia's shipped crude exports from June 1-15 rose by 576,000 b/d to average about 3.88 million b/d, according to preliminary data from shipping analytics provider Kpler.
Russian refineries raise throughput in early June on month: report Russian refinery throughput fell in the wake of Moscow's invasion of Ukraine as international buyers increasingly avoided Russian-origin products.
EU carbon prices gain on breakthrough in market reform talks The news followed a dramatic rejection of draft legislation by the parliament in a plenary session in Strasbourg June 8, and potentially clears the way for agreement later in June.
Russian seaborne oil exports could find ways round EU insurance ban: sources The influential London marine insurance market is also likely to join the EU in an insurance boycott, which would make it even tougher for Russian tankers and tankers carrying Russian oil to travel to various destinations.
OIL FUTURES: Crude extends losses amid larger-than-expected US inventory build US commercial crude oil inventories climbed 1.96 million barrels to 418.71 million barrels in the week to June 10, US Energy Information Administration data showed June 15.
FUJAIRAH DATA: Oil product stocks drop from six-month high as residues plunge Total inventory was down 11% from a week earlier at 17.949 million barrels on June 13, the port data provided exclusively to S&P Global Commodity Insights showed.
Shipping not included in revised EU ETS proposals: EU spokesperson The EC's existing proposal to add shipping to the EU ETS has put the bloc's regulators on a collision course with members of the industry.
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