Conrad reports a "challenging operating environment" in first quarter Morgan City, La., headquartered shipbuilder Conrad Industries, Inc. (OTC Pink: CNRD) has reported its first quarter 2022 results. The company had a net loss of $116,000 im the quarter compared to net
Vineyard Wind signs CTV charter with Patriot Offshore Orders for Jones Act offshore wind crew transfer vessels are starting to tick upwards. Last week, Vineyard Wind, a joint venture between Avangrid Renewables and Copenhagen Infrastructure Partners reported it had signed
"Smaller, smarter, better" hull cleaning robot makes its debut Aiming to move the battle against hull bio-fouling and drag forward, Plymouth, Mass., based Armach Robotics, a spin-off from marine software pioneer Greensea Systems Inc. (Greensea), has unveiled its first post-prototype hull
DOF books long term Brazil contracts Norway's DOF Group reports that Petrobras has awarded new long-term charter and service contracts to Norskan Offshore Ltd and DOF Subsea Serviços Brasil Ltda for AHTS vessels and ROVs. The AHTS 18000
All-electric Chinese river cruise ship packs 7.5 MWh of battery power China Classification Society (CCS) says China will ramp up the building of fully electric battery powered ships to operate on the country's extensive inland waterways network. This following the successful maiden voyage
Shipping's future-fuel demands require all current renewables capacity Shipping will need renewable power equivalent to all that produced in a year if it is to decarbonise, according to...
EPS to fit MR tankers with carbon capture systems Singapore-based owner expects to complete the installations on two of its tankers by the first quarter of 2023, with an...
Protest stops tanker carrying Russian fuel from UK port discharge Tanker is now waiting off Margate, UK, after protestors entered Navigator Terminals on River Thames to prevent it from discharging...
ACL helps Grimaldi deliver best-ever financial performance Grimaldi Group increased its turnover by 25% in 2021, while profits before deductions were up by 44%
Demolition prices are easing off With so few ships being marketed for demolition presently, pricing levels are unlikely to fall much further
Sovcomflot's EU operations cease but UK extends sanctions wind-down At least four members of the Sovcomflot executive board, including long-serving executive vice-president and chief financial officer Nikolai Kolesnikov, have stepped...
US east coast ports see stronger volume growth Volumes continue to grow on both sides of the US, but the east coast is taking the lion's share. An...
IMO to weigh carbon tax plans The International Maritime Organization's greenhouse gas working group meets in private from today to continue work on market-based measures. There...
Russia looks to gain from higher grain exports The overall impact to dry bulk shipping is a slight drop in tonne-miles, which fall sharply for global corn trades...
Is shipping on verge of another super-cycle? The shift of countries' focus 'from efficiency onto justice' is providing shipping companies and investors with a once-in-decades opportunity. But...
The week in charts: Smaller tankers, not VLCCs, lead tanker recovery | Much of Sovcomflot's fleet is waiting for orders | Boxship newbuilding orderbook is set to surpass 30% of operational fleet The situation in Ukraine causes war loss and damage incidents to rise to 1990 levels; the bulk carrier market will...
Ningbo to probe misconduct by shipping industry The move to investigate unfair pricing aims to support the sustainable development of small and mid-sized enterprises, according to a...
Decarbonisation centre ties up ammonia producer Green ammonia offers one of the options for decarbonising shipping. CF Industries plans to have 2m tonnes on stream by...
Seafarers win right to connect at sea The International Transport Workers' Federation has secured some extra provisions for seafarers at the latest Maritime Labour Convention tripartite meeting. But it...
RCL says vessel arrested in Indonesia was carrying palm oil approved for export All 34 containers on board the vessel Mathu Bhum contain palm oil. Regional Container Lines says all of these were...
CSSC Shipping garners $100m loans for VLGC acquisition A set of gas tankers are to be built by CSSC's Jiangnan Shipyard. The vessels are believed to have been...
Daily Briefing Why owners should worry about P&I consolidation | What AI is changing shipping | EU emissions vote looms large |...
Abbott Labs ramps up air cargo imports of baby formula Airfreight is one solution Abbott Laboratories is using to replace lost production from a U.S. plant that was closed down by the FDA.
Saudia selects Mammoth Freighters to convert Boeing 777s for cargo Saudi Arabian Airlines is investing in seven 777 converted freighters as it looks ahead to strong cargo opportunities.
OIL FUTURES: Crude pushes higher as supply tightness offsets China demand concerns Crude prices rose midday, shaking off early-session selling pressure as the market weighed tighter global supply outlooks against uncertain Chinese demand.
EMEA Middle Distillates: Key market indicators While flat prices have remained volatile, European middle distillates markets have been broadly stable amid relatively tight supply of cargoes of jet fuel, 0.1% gasoil and ultra low-sulfur diesel -- especially in the Mediterranean -- but thin buying appetite to bring barges from ARA to inland demand centers.
Petrobras reaffirms fuel-pricing policy amid Bolsonaro criticism, shakeup State-led oil company Petrobras reaffirmed its commitment to keeping Brazil's domestic fuel prices at parity with international imports, despite renewed criticism of the company and an energy industry shakeup by President Jair Bolsonaro.
Bearish factors steadily gripping oil market: analysts The oil market is gradually being weighed down by bearish factors on both the demand and supply side, even as prices remain supported above $100/b amid the geopolitical ructions stemming from the Russia-Ukraine war, industry analysts said May 16.
US product draws likely extend amid continued strong export demand US refined product inventories likely declined in the week ended May 13, analysts surveyed by S&P Global Commodity Insights said May 16, with distillate stocks expected to test 17-year-lows amid continued strong export demand.
AMERICAS BUNKERS: Key market indicators May 16-20 Volatility continues to be the main factor in pricing for bunkers in Latin America, with participants reacting cautiously and in a lagging way to the steep day-to-day changes seen in global oil markers.
REFINERY NEWS ROUNDUP: Plants in Europe look for alternative supplies Finland's Neste has "mostly replaced" Russian crude, while its remaining supply contracts will end in July.
EU Council approves final regulation on priority EU energy projects It was agreed to end support for new fossil gas and oil projects, but to allow a transitional period to the end of 2029 for funding of gas projects that would be converted to hydrogen.
Japan H2 Mobility to install five hydrogen stations in FY 2022-23 JHyM has secured government subsidies for installing the five hydrogen refueling stations for the fiscal year to March 31, 2023.
Glencore forced to halt Russian diesel delivery to UK by protesters The Greek-flagged Andromeda vessel loaded 33,000 mt cargo of ultra-low sulfur diesel at Russia's Baltic Sea port of Primorsk from Tatneft May 10, according to shipping analytics provider Kpler.
MARKET MOVERS EUROPE: Oil demand outlook unclear as ban on Russian oil looms *Russian war intensifies oil supply issues *Environment committee set to vote in Brussels on reforms *Disruption concerns in the gas market *EC to opine on power market interventions
No Azeri Light crude barrels to load for June at Black Sea port of Supsa Azerbaijan's state energy group Socar, which produces the crude, confirmed that no loadings were to take place in Supsa. This was also the case for the May loading program.
EUROPE AND AFRICA RESIDUAL AND MARINE FUEL: Key market indicators Supply in the very low sulfur fuel oil and low sulfur markets remained tight, with the Mediterranean relatively shorter than the North, sources said recently.
India bans wheat exports, adding to global supply crunch As much as 2-3 million mt of wheat for the flour and feed industry is at stake, traders said.
Iran's biggest oil company eyes more production capacity with eye on sanctions relief Talks over the nuclear deal between western powers and Iran have run into a roadblock after a year of start-stop negotiations, and analysts say there is no guarantee an agreement can be reached.
CHINA DATA: April crude throughput hits two-year low of 12.66 mil b/d The crude throughput was the lowest since March 2020 when it was at 11.81 million b/d, following lockdowns after the initial COVID-19 wave.
Saudi Arabian crude production capacity to reach 13.3 mil-13.4 mil b/d by 2026-27 Riyadh has traditionally maintained a 2 million b/d spare capacity buffer, which it has used on request to help maintain global market stability during supply shocks such as the Gulf War in the early-1990s or the US invasion of Iraq in 2003.
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