Navy awards Fincantieri Marinette Marine 3rd frigate The Department of Defense announced today that the Navy awarded Fincantieri Marinette Marine Corp., Marinette, Wis., a $536,875,440 fixed-price incentive (firm target) and firm-fixed-price modification to previously awarded contract N00024-20-C-2300 to exercise
Master Boat Builders to build second tug for Polaris New Energy Coden, Ala., based Master Boat Builders, Inc. (MBB) reports that it is to construct a new 4,000-hp tug for PNE Marine Holdings, LLC. It will be a sister ship to Polaris, which
Tanker owner in deadly McCain collision ordered to pay U.S. $45 million In a case stemming from the August 21, 2017, collision between the USS John S McCain and the tanker Alnic MC, U.S. District Judge Paul Crotty ruled yesterday that the United States
Fresh Iran sanctions linked to tanker dispute off Croatia Office of Foreign Asset and Control blacklists Hong Kong and UAE-based companies that it said are supporting Iranian petrochemical shipments
Braemar to stay public as it plots acquisitions in Europe and Asia Braemar's rebranding, which includes a new logo and a website revamp, aims to provide a visual marker of a new...
Recalibrating oil markets push clean tanker rates higher in Pacific Product tanker fleet sees best trading conditions since 2008 over the past eight weeks because of tightening sanctions on Russia...
Post-panamax boxship values double since early 2021 Liner operators are continuing to snap up secondhand boxships at very high prices, while a non-operating owner has purchased a...
Capital orders LNG pair at $240m each Confidence in LNG shipping outlook and fears of further price increases will have prodded Greek owner to add to orderbook
China Merchants boosts budget for tanker orders as ship price increases Shipbuilder has demanded a mark-up for the newbuilding pair, because the rise in raw material costs would have led to...
Ever Given payout likely to equal Costa Concordia Casualty that blocked Suez Canal will see multibillion-dollar hit for reinsurers, although bill will still come in below Tianjin explosion...
Mixed outlook for box port performance Los Angeles and Long Beach are seeing continued record volumes from larger exchanges of containers per ship. In Europe, performance...
Cosco Shipping Development names new chairman Former general manager Liu Chong has been promoted to chairman. His former role has been filled by Zhang Mingwen, ex-chief...
Global Ports confirms buy-out interest from MSC MSC has until July 13 to make a firm offer or walk away
Equinor joins Maersk decarbonisation centre Equinor has invaluable know-how and has already shown enormous energy and willingness to accelerate its transition with promising projects, said...
Daily Briefing Chinese crude demand to contract for 'first time this century', says IEA | Livestock carrier casualties drive push for reform...
Iran's shipbuilding ambitions are neither new nor credible The signing of a 20-year strategic co-operation agreement by Iran and Venezuela offered a perfect opportunity to showcase Iran's domestic...
GoodBulk lifts cash payout to shareholders Capesize owner has now distributed $75m to shareholders this year
South American cargo airline joins Freightos e-booking platform LATAM Airlines' cargo division is the first South American carrier to sell capacity on Freightos, a digital marketplace.
Treasury sanctions China, Hong Kong, UAE entities tied to Iran petrochemicals sales
Petrobras to maintain import-parity pricing in Brazil as fuel tax cuts pass
US oil refiners lay out their realities ahead of DOE meeting
Crude prices rebound amid ongoing global supply woes
Russian official warns of total halt to Nord Stream operations: report European gas prices surged further June 16, with the TTF month-ahead price reaching almost Eur150/MWh at 1100 GMT.
Russia expects to export 39.5 million mt of wheat in 2022-23: report Agriculture minister Dmitry Patrushev also said at the forum that the country's spring sowing campaign is nearing to an end, with more land sowed than last year.
Oman's ruler replaces long-serving energy minister Mohammed al-Rumhi in Cabinet reshuffle Rumhi, who had been at the helm of the ministry since December 1997, will be replaced by Salim al-Aufi, Oman's state TV announced on June 16, citing a royal decree from Sultan Haitham bin Tariq al-Said. Aufi has been undersecretary at the ministry since December 2013.
INTERVIEW: Ineos investing for North Sea Forties operations to '2040-plus': CEO FPS transports oil from around 85 fields and Forties Blend is the largest contributor to the Platts Dated Brent North Sea crude benchmark, used worldwide, with loadings close to 300,000 b/d in recent months.
German regulator urges less gas use as Nord Stream pipeline flows slump Russia's Gazprom said June 15 flows of gas through the Portovaya compressor station -- the start point for Nord Stream -- would be limited from June 16 to a maximum 67 million cu m/d, or 40% of the pipeline's capacity.
South Africa may resort to buying Russian oil as higher prices bite Speaking to parliament, Gwede Mantashe said the current surge in prices and high inflation was hurting Africa's third largest economy, and it must respond to it by buying cheap oil and not take an emotional stance.
HONG KONG DATA: April fuel oil imports fall 59% on month just as demand rebounds Most of Hong Kong's fuel oil imports are sourced from Singapore, the world's largest bunkering hub, and sold as bunker fuels as Hong Kong has no fuel oil-fired power plants, only backup generators, market sources said.
FUJAIRAH DATA: Bunker sales reach second highest ever in May Ship fuel sales at the Port of Fujairah climbed 11.45% on the month to reach the second highest on record in May, according to Fujairah Oil Industry Zone data published on its website.
OIL FUTURES: Crude falls after Fed rate rise, US inventory build The Fed's hike in its target interest rate, while widely expected following a higher-than-expected May inflation report June 10, was the largest since 1994 and marks an acceleration in the US central bank's plan to tame rising prices and slow economic growth.
Singapore's EMA extends energy security steps until March 2023 to stabilize markets Singapore relies on imported natural gas to generate around 95% of its electricity. Higher fuel prices globally have already started pushing up domestic electricity prices in some countries.
Russia, Saudi Arabia discuss measures to stabilize oil market Russia and Saudi Arabia are key members of the OPEC+ crude oil production agreement, and the two ministers met at a time when Russian production has been significantly impacted by Western sanctions in response to the invasion of Ukraine.
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