Toronto will take ferry fleet all-electric The fourth largest city in North America, Toronto, is moving ahead with a plan to replace its current, aging fleet of ferry vessels with fully electric vessels. The city's largest park, Toronto
Cruising: With CSO gone, booking season hopes mount We're now into the cruise industry's "Wave season," the three-month period from January 1 to March 31 when - prior to COVID - cruise lines and travel agents historically booked the largest
ScotWind leasing results announced Crown Estate Scotland has announced the outcome of its application process for ScotWind Leasing, the first Scottish offshore wind leasing round in over a decade and the first ever since the management
Brix Marine delivers latest water taxi Now in service at the Klahoose Wilderness Resort on Cortes Island, B.C., Canada, the 32 foot x 12 foot Goat 1 is the latest addition to Port Angeles, Wash., based boatbuilder Brix
Torm pledges to meet carbon emission goals by 2025 Danish shipowner to adopt tougher climate change standards five years ahead of global regulation
Denmark's handling of Gulf piracy incident angers Nigeria Criticism mounts over Denmark's conduct in connection with an incident involving suspected pirates in the Gulf of Guinea last November
The week in charts: New highs for US crude production in 2023 | Transpacific trade extends box peak season | Capesizes in freefall
The first EIA forecast of the year points to strong growth in US oil output for 2022 reaching record highs...
Shippers face increased fuel surcharges Very low sulphur fuel oil is at record high prices. While oil prices are forecast to fall, the next round...
Watson Farley & Williams names new maritime sector head George Macheras joins George Paleokrassas as co-head of the maritime team. The law firm wants to attract new talent and...
Alantra launches maritime and offshore team Plan to establish global maritime practice focused initially on Greece, Scandinavia, Germany and the Middle East
Shipping's decarbonisation won't happen without new skills The push for decarbonisation will be much harder unless we look more forensically at the challenges to be solved at...
Newbuild crude tankers 'trading clean' signal dismal spot earnings Using crude tankers will remove cargoes from the market and further drag in earnings for medium range tankers in Asia
Vale gradually resumes storm-hit operations Resumption of production may halt the slide in capesize spot rates, which have declined 1.8% from the end of last...
FedEx Logistics to call at Hueneme for three voyages Hueneme is usually more associated with cars than containers. But FedEx Logistics has booked three voyages of 53 ft containers...
The human resources challenge facing every maritime business Shipping's transformation to sustainability requires a new cadre of talented individuals to be recruited at all levels of the business...
Hyundai may appeal EU merger rejection, but prospects look dim The global LNG carrier market is unlikely to achieve economies of scale following the failed merger of Hyundai Heavy Industries...
OceanPal eyes raising $14.5m for growth Proceeds will be used for general purposes, including the 'potential future acquisition of vessels'
Tanger Med container throughput surges again Tanger Med's container handling grew even faster in 2021 than in 2020. The resumption of export activity boosted most sectors...
MPC Capital orders methanol-ready 5,500 teu quartet at Hanjin 'We are convinced that the demand for new containerships with favourable specifications, a low consumption and high environmental ranking will...
SIPG to list its short-sea shipping subsidiary SIPG says the move aims to improve 'Jiangjing Shipping's profitability in container transportation and sharpen its competitive edge'
Daily Briefing Making charterers pay for carbon is a first step. Now for all the others | Creditors seek DSME owner after...
Trucking services recover as Ningbo lifts lockdown measures Several other port cities in China that have been affected by coronavirus outbreaks in recent days are expected to face...
Freightos Group acquires 7L Freight, expanding digital air cargo product Freightos is expanding its North American air cargo customer base with the acquisition of 7L Freight.
FEATURE: Case for surge to $100/b oil grows as Brent flirts with seven-year highs The Brent futures oil price traded flat around $86/b midday in London Jan. 17, after four weekly gains in succession amid easing concerns about the impact of the omicron variant of the coronavirus, and signs that pent-up demand could outstrip supplies by mid 2022.
Saudi energy minister comfortable with oil prices, OPEC+ output levels Saudi Arabia does not plan to pump more crude to make up for other OPEC+ members' production shortfalls, the kingdom's energy minister, Prince Abdulaziz bin Salman, said Jan. 17.
Libyan oil output rebounds but disruption risks remain very high With Libya's political stability still hanging in the balance due to delayed elections, analysts expect the North African oil producer to suffer more supply disruptions and oil blockades.
REFINERY NEWS: Iberian refinery work 2022 The transfer of crude traffic to the new outer port area at Punta Langosteira is taking place. This phase and the start-up of the new crude terminal should be completed by summer 2022.
EMEA MIDDLE DISTILLATES: Key market indicators Traders focused last week on the January ICE LSGO futures expiry, which totaled just 700 lots for physical delivery, according to ICE data.
OIL FUTURES: Crude dips after reaching two-month highs The high prices have raised questions as to whether a production hike from OPEC will be necessary, but talk of potential intervention fueled the potential for market volatility.
RUSSIA DATA: Jan-Novoil product exports up 2.5% on year Russia exports diesel, fuel oil and jet fuel to international markets, and recently started exporting gasoline to Northwest Europe for onward shipment to Africa and the Americas.
EUROPE AND AFRICA RESIDUAL AND MARINE FUEL: Key market indicators Prompt demand for European very low sulfur fuel oil -- used as a marine fuel -- hit its highest point in two years, as measured by the backwardation of the paper market.
FUJAIRAH DATA: 2021 bunker sales total 8.236 million cu m In December, bunker fuel sales at the UAE's Port of Fujairah edged lower for the second consecutive month to 702,628 cu m to be the third-highest volume in 2021, 4.7% behind November and 10.2% below October, amid relatively sluggish spot trading activity.
BELGIUM DATA: Liquids throughput at Port of Antwerp in 2021 rises 3.1% on year Liquids accounted for 30% of total throughput. Antwerp is a refining hub, even though Gunvor's Antwerp refinery has been mothballed. It stopped crude processing in May 2020.
CHINA DATA: Crude throughput rises 5% to 14.13 mil b/d in 2021, falls 2% on year in Dec The higher throughput in 2021 was attributed to refining capacity expansion, and as refineries produced more oil products to compensate for the reduction in imports of blending materials for gasoline and gasoil, analysts said.
Platts to amend Worldscale basket rate for Australia to North Asia dirty tanker route from Feb 3 The new average flat rate for the Australia to North Asia voyage will be $13.69/mt.
Tokyo Bay barge congestion to persist on strong bunker demand: sources Strong bunker demand at the key port of Tokyo Bay in Japan has led to barge congestion and pushed back the earliest delivery dates, market sources said.
Asia residual fuels: Key market indicators for Jan 17-21 In Singapore, supply of low sulfur fuel oil bunkers has risen considerably from the previous month, but is likely to remain tight throughout January, while expectations of a slow down in shipping activity during H2 January is expected to subdue bunker demand, traders said.
Logistical bottlenecks lift Fujairah delivered marine fuel 0.5%S premium Buyers of the delivered International Maritime Organization-compliant bunker fuel grade face tightness in barge availability, which is only expected to ease late during the week started Jan. 17, Fujairah-based bunker suppliers said.
Singapore-Fujairah 0.5%S marine fuel spread narrows to near 10-month low Faced with declining shipments of LSFO cargoes into Fujairah amid weaker arbitrage opportunities, the reduced inventories have also limited product availability for bunker use, according to local bunker suppliers.
Ningbo bunker delivery resumes at Beilun container terminals: suppliers China's authority banned bunkering operations at Ningbo's Beilun container terminals to prevent the spread of the virus in early-January, market sources said.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio No part may be reproduced without the express permission of the publisher
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
