Biden takes new actions to boost offshore wind energy Against the backdrop of a former Massachusetts coal-fired power plant that is to host a cable manufacturing facility to support offshore wind, President Biden today announced a number of executive actions on
"K" Line to fit Seawing kites on three more ships Airseas, the French tech pioneer founded by former Airbus engineers, has won orders for three more of its Seawings systems from Kawasaki Kisen Kaisha ("K" Line). This will bring to five the
Synergy Marine partners with next-gen battery developer Alsym Woburn, Mass.-based Alsym Energy, says that it is partnering with Singapore-based ship manager Synergy Group to develop shipping-specific applications for its next-generation non-flammable batteries. Alsym Energy is developing advanced low-cost, high-performance rechargeable
Bay Houston orders fourth new tugboat at Master Boat Builders Coden, Ala., based Master Boat Builders, Inc. reports that it is to construct a fourth new tugboat for Bay Houston Towing Co. of Houston, Texas. Master Boat Builders is currently building three
Salvage industry sees only "modest" recovery in gross revenues Major salvage cases continue to make the headlines lately and, according to many insurance sources the costs of these cases are rising. Indeed, according to Allianz Global Corporate & Specialty, the near
Foss Maritime names Mack COO Chris Mack Jr. has been promoted to chief operating officer (COO) of Seattle-based Saltchuk Group member Foss Maritime. In that role, Mack is responsible for all harbor services activities of Foss Maritime
Early warning system can prevent widespread fuel contamination By Darren Shelton, Chief Product Officer and Co-Founder, FuelTrust The Singapore fuel contamination incident that hit around 200 vessels in April 2022 could have been avoided if there was an early warning
Older vessels drive increase in tanker values Driven by improving market conditions and uncertainty around future fuels, values for crude oil tankers have improved, though older ships...
Geopolitical tension forecast to seriously disrupt global supply chains Russia's invasion of Ukraine is forecast to wipe $1trn from global GDP this year. The era of ultra-low interest rates...
Vale lowers iron ore guidance Revision could be a blow to the capesize market, which had been bargaining on an uplift in iron ore volumes...
Shipping ranked seventh in top insurance payouts list Insurance cost of pandemic will likely make it the third-largest catastrophe loss of all time, behind Hurricane Katrina in 2005...
Italian cabotage trades likely to suffer as seafarer numbers fall Shipowners' association calls for more training courses aimed at engineer officers, financial help for cadets, and as a last resort...
Cosco unit sells half of CIMC stake Figures from Drewry show the global equipment pool rose by 13% to almost 50m teu in 2021 as carriers ordered...
Baltic Exchange accused of 'tricks' by Chinese rival over newbuild index plan Chinese newbuild index co-founder claims the rival London-based organisation engaged in 'tricks' to gain insight
K Line to fit three more dry bulkers with kite propulsion systems The deal comes after the Japanese firm ordered the equipment for two of its capesizes, which will start to be...
Hyundai Mipo gets order for feeder boxship trio Newbuilding trio is scheduled to be delivered by September 2024
DSME holds talks with workers to end strike Third largest shipbuilder in South Korea is estimated to have suffered a $400m loss from the prolonged strike
Daily Briefing Is China's potential coal ban lifting all that bearish for dry bulk shipping? | Owners drawn to wind-assist technology amid...
United Airlines' cargo business softens in Q2 as company turns profit Passenger travel carried United Airlines to a second-quarter profit, while cargo sales eased for the first time in two years.
Samsung leads Series A for visibility data provider Vizion "This allows Samsung to set a new bar of service levels for logistics customers, and Vizion supports this through hyperfocus on enhanced visibility technologies," said...
Cathay Pacific freighters make comeback, but cargo volume still lags COVID continues to crush Cathay Pacific's business, but the cargo fleet is now back at full force.
Bangladesh shuts all gasoil-fired power plants to cut fuel costs Bangladesh has shut operations at all of its gasoil-fired power plants from July 19 under its latest austerity measure to reduce gasoil imports and save foreign reserves, after previously halting spot LNG imports.
SAUDI DATA: May gasoil outflows surge 10% on month amid attractive cracks Saudi Arabia's gasoil outflows rose 10.2% month on month and 9.5% year on year to 2.92 million mt, or 700,781 b/d, in May, Joint Organizations Data Initiative data showed late July 19, as strong product cracks amid rebounding demand for the distillate in importing regions incentivized refiners to lift exports.
ENEOS sees Apr-Sep fuel oil demand for power rising 90% on year Japan's largest refiner ENEOS now expects its April-September fuel oil demand for power generation to be up 90% from a year earlier amid high spot LNG prices, ENEOS Holdings Chairman Tsutomu Sugimori said July 20, a trend that is likely to continue in the October-March period as well.
US DATA: EIA reports diesel production declines for second week, drawing down inventories as demand strengthens Diesel production declined across most regions of the US for a second week during the week ended July 15, US Energy Information Administration data showed July 20.
Fuel shortages hit nearly one-fourth of Pakistan's operational power plants Nearly one-fourth of Pakistan's operational power generation capacity of 28 GW has been shuttered due to fuel shortages and adverse weather conditions, with most of the outages at gas-fired power plants, according to market sources and government officials.
US DATA: Residual fuel oil stocks stabilize, down 2% year on year US ending residual fuel oil stocks in the week ended July 15 dipped by 0.06% to 29.2 million barrels, US Energy Information Administration data showed July 20.
Keystone oil pipeline capacity may be restored next week: company source The Keystone oil pipeline could return to full capacity next week if the necessary repairs to an electric substation are completed without any major supply chain disruptions for replacement parts, according to a company source.
OIL FUTURES: US crude, gasoline prices hold lower amid signs of lower demand US crude prices fell to session lows in midmorning New York trading July 20 following a US Energy Information Administration report pointing to slowing US energy demand.
OIL FUTURES: Crude falls ahead of US stock data as supply concerns ease US crude stockpiles increased for the third week in a row, rising by 1.86 million barrels for the week ending July 15, according to an American Petroleum Institute report, compared with a 4.76-million-barrel build in the previous week.
Russian seaborne crude exports retreat from three-year highs: shipping data Shipped crude exports averaged 3.34 million b/d from July 1-18, according to preliminary data from vessel analytics provider Kpler, down 300,000 b/d from the 3.64 million b/d average in June and a recent peak of 3.89 million b/d in April.
REFINERY NEWS: South Africa's Natref receives crude tanker, dispatching underway South Africa's Natref refinery is in the course of getting crude supply as a "tanker has docked in Durban and dispatching processes are underway," the company said July 20.
EC calls for 15% gas demand reduction amid risk of Russian cut-off The EC proposed a new Council Regulation on Coordinated Demand Reduction Measures for Gas, which would set a target for all member states to reduce gas demand by 15% between Aug. 1, 2022, and March 31, 2023.
VLSFO markets await Al-Zour volumes amid tight supply The refinery's 40% residuals yield implies 1 million mt/month of 0.5%S or 1%S fuel oil, which will "fundamentally change" those markets in Europe and the Middle East, a trader said.
Large number of ships with refined products heading to South America, Caribbean Diesel prices were the most elevated for refined products in Latin America.
CHINA DATA: Russian June crude supplies fall 11% from May's record to 1.78 mil b/d The Russian volumes volume represented a 9.5% year-on-year jump in June, despite declining from 1.99 million b/d in May, according to GAC data
Singapore 380 CST HSFO crack weakest in more than 2 1/2 years on ample supply Asian HSFO market has been seeing an increase in inflows from the Middle East and possibly from Russia, market sources said.
Hong Kong's easing LSFO inventories push bunker spread against Singapore to over 6-month low While the rising stockpiles of low sulfur fuel oil progressively ease inventories at the port of Hong Kong, the healthy availability of barges and tepid demand also began to weigh on bunker premiums, according to local bunker suppliers July 20.
FUJAIRAH DATA: Oil product stocks fall for second week after 26% drop in middle distillates Heavy distillates used for power generation and shipping rose 3.4% to a two-week high of 12.553 million barrels.
JAPAN DATA: May bunker sales down 1.5% on month amid limited LSFO supply Owing to the limited stockpiles of low sulfur fuel oil, spot trading activity was subdued in May despite strong demand from term contractual clients, with sellers reportedly cautious of accepting bunker nominations, market sources said.
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