Eastern Pacific to retrofit two tankers with carbon capture solution In another sign that innovative approaches to decarbonization are starting to get the attention of serious players, Idan Ofer's Singapore-based Eastern Pacific Shipping (EPS) has signed a definitive agreement with Rotterdam-based Value
Suction sails gain traction French ship operator Louis Dreyfus Armateurs (LDA) is to equip one of its vessels with three of the eSAIL suction sail systems developed by Barcelona, Spain, headquartered bound4Blue. The eSAIL technology is
Danaos profit soars with help of huge Zim dividend Greece-based containership owner says charter rates still high but 'sentiment has changed'
US regulator uses 'soft power' to crack down on 'nickel and diming' container lines Congestion-related charges levied by lines on US shippers along with 'unreasonable' and detention and demurrage fines are in regulator's crosshairs...
EU carbon market amendments pass key vote The European Union's environment committee votes for a host of changes to the carbon market, including the expansion of the...
IMO to recognise women's contribution to maritime IMO secretary-general Kitack Lim announced new event to promote the recruitment, retention and sustained employment of women, and support work to...
Week in newbuildings: Three shipyards confirm LNG carrier orders worth $2bn At least 48 liquefied natural gas carriers have been ordered so far this year, with another 18 thought to be...
Eagle Bulk sees new trading patterns supporting dry bulk Backhaul trades are garnering premiums to the index, according to US-based company. 'It's not business as usual,' says chief executive...
Greece 2022: 'You have to persevere to prosper,' says Euroseas founder Aristides Pittas Euroseas and EuroDry founder Aristides Pittas can look back on generations of family involvement in the industry and yet he...
Greece 2022: Women with their hands on the helm For Greek women in shipping, as steeped in the industry as their male compatriots, diversification is likely to be as...
Greece 2022: Shining a spotlight on domestic achievement After a successful 'virtual' event in 2020, the Greek Shipping Awards made a welcome return to an in-person format at...
Supply chain delays raise theft risks Cargo theft fell in 2021 compared with the previous 12 months, but the disruptions in supply chains have made weak...
West sees exodus after ditching riskiest vessels The outlook for the protection and indemnity insurance sector remains challenging on account of record pool claims, ongoing pandemic, surging...
Seaborne iron ore supplies set to decline Assuming Black Sea iron ore exports are down 30m tonnes, and accounting for losses already this year in Australia and...
Maersk relaunches China-Europe rail service Rail freight between China and Europe has traditionally provided a useful buffer between air and ocean services. Maersk is now...
Euroseas orders two more newbuilds at Hyundai Mipo Nasdaq-listed Euroseas now has an orderbook of nine boxships, including three 1,800 teu feeders
India demands more Russian coal amid supply disruptions India almost doubled its import of Russian coal in the first quarter of this year, to 2.2m tonnes
Daily Briefing Sovcomflot's EU operations cease but UK extends sanctions wind-down | Is shipping on verge of another super-cycle? | Russia looks...
EgyptAir orders cargo conversion for 737-800 passenger jet EgyptAir is acquiring a small freighter to go with its trio of widebody cargo planes.
Long Beach sets record but East, Gulf Coast ports' gains bigger According to maritime expert John McCown, the U.S. ports with the strongest April performance were Charleston, South Carolina; Houston; and New York/New Jersey.
How US trade policy is making the baby formula shortage worse Restrictive trade policies are contributing to the nationwide shortage of infant formula because products can't be easily substituted from abroad.
Georgia's ports had one of their busiest months ever in April It was another record month for GPA, with container volumes up by over 6% year-over-year.
Iran to take stake in Venezuelan refinery: report Tehran and Caracas have agreed that Iran will take a share in a Venezuelan refinery, the Iranian oil ministry's news service Shana was cited as saying in a report on state television May 17.
INDIA DATA: April gasoil demand down as retail prices rise India's gasoil demand fell 6.53% month on month to 7.2 million mt in April, latest preliminary data from the Petroleum Planning and Analysis Cell showed, as retail customers lowered consumption amid increasing pump prices for the fuel.
ARGENTINA DATA: March use of oil refining capacity fell on year Argentina's refinery utilization rate fell to 71.9% in March from 73.8% a year earlier, as a decline in diesel and gasoline demand led to a drop in crude runs, state statistics department Indec said May 17.
Libya's oil supply under threat as rival governments jostle for power in Tripoli: sources Libya's oil sector is on tenterhooks after clashes in Tripoli May 17 following the failed attempt by the Government of National Stability's Prime Minister Fathi Bashagha to take control of the country's capital, industry sources told S&P Global Commodity Insights.
OIL FUTURES: Crude prices slide amid signs EU could avoid full Russian oil embargo Crude oil futures settled lower May 17 as supply concerns eased following reports the EU could move away from a full embargo on Russian oil imports.
Repsol likely to confront fight for control of refinery amid Peru oil spill lawsuit Repsol faces a battle for control of its 117,000 b/d La Pampilla refinery after the Peruvian government filed a $4.5 billion lawsuit over a January oil spill.
Russian refiners start raising runs as works end, bitumen output starts With fuel oil exports having tumbled since Russia's invasion of Ukraine, refineries in the country opted to cut processing in March and April.
FUJAIRAH DATA: Bunker sales fall to two-month low in April Total sales came to 670,063 cu m in April, down 3.8% from March and 1.4% lower than a year earlier, according to Fujairah Oil Industry Zone data compiled by S&P Global Commodity Insights.
Shipping integral to net zero fuel ambition: ICS S&P Global Commodity Insights assessed the lowest cost of hydrogen production via alkaline electrolysis in Qatar at an average of $2.59/kg in April, or 20% of highest priced region -- the UK -- at $13.14/kg.
European ULSD swap differentials jump on future exclusion of Russian-origin diesel The change in methodology follows feedback gathered that shows the market has moved away from Russian origin being traded on the same basis as other origins.
S&P Global Commodity Insights eliminates use of 'hand blends' in trades reported through US MOC process for 0.5%S marine fuel S&P Global understands that the stricter sulfur requirements imposed by the IMO 2020 regulations for 0.5%S marine fuel has resulted in trades that are often close to the maximum specifications compared to HSFO, and feedback suggests that hand blends may have a higher likelihood of specification and quality issues.
Asia residual fuels: Key market indicators for May 17-20 The Singapore marine fuel oil market is expected to remain firm in the May 17-20 trading week, as tight availability of cutter stocks persist given relatively stronger gasoil crack spreads compared with low sulfur fuel oil.
REFINERY NEWS ROUNDUP: Biofuels consumption set to surge in Europe Consumption of biofuels in the EU among three key sectors -- road, marine and aviation -- is set to surge further with major industry players advocating for long-term mandates and more ambitious targets in a bid to secure investment in infrastructure as well as energy independence.
World leaders have not done enough to deliver on COP26 commitments: UK's Sharma He called for concrete action to accelerate progress in low-carbon steel and hydrogen, as well as for progress in exiting fossil fuels.
REFINERY NEWS: Hydrogen cluster to be set up in Germany's Ingolstadt area A consortium is planning to set up a hydrogen infrastructure under a project dubbed HyPipe Bavaria / H2-Cluster Ingolstadt, which will supply the participating industrial sites and the region with hydrogen.
OIL FUTURES: Crude rises on potential China lockdown relaxation, supply tightness Shanghai has reported no new COVID-19 cases for three days in row, prompting Chinese authorities to move the city of 25 million inhabitants closer to a reopening at the beginning of June. This reopening is contingent on the city reporting no new cases until May 21.
No longer possible to do business under old oil market model: Putin Russia's key crude grade Urals has been trading at record low values. Urals was assessed by Platts at $77.78/b on May 16, compared to Dated Brent at $113.135/b, S&P Global Commodity Insights data showed.
REFINERY NEWS: Spain's Bilbao restarting FCC, boiler The Bilbao refinery is restarting its halted fluid catalytic cracker and boiler unit in Plant 3, which were halted May 14 and May 15 respectively for maintenance.
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