SENSE PelaStar: A floating wind game changer? The U.K's Department for Business, Energy, and Industrial Strategy (BEIS) has granted GBP10 million (about $13.5 million) to technology partners SENSEWind, Glosten, and Subsea Micropiles, and six delivery partners to design and
Unmanned containership uses drone to handle heaving line A Japanese consortium coordinated by Mitsui O.S.K. Lines Ltd. (MOL) has successfully concluded what's claimed as a world-first port-to-port unmanned containership sea trial. The trial took place between Tsuruga Port in Fukui
ACBL warns of "catastrophic" Tennessee River barge delays American Commercial Barge Line (ACBL) today wrote its dry cargo customers warning them that it is anticipating catastrophic delays for barges transiting the Tennessee River to destinations above Wilson Lock (Mile 259.4).
Eastern Pacific: "We won't carry coal" One of the world's leading dry bulk operators is taking a stance against coal: it won't carry the stuff. Idan Ofer's Eastern Pacific Shipping (EPS) has just released the 2022 edition of
Shipping tipped to outperform US stock market again this year 'Shipping is the place to be in 2022,' says Randy Giveans of Jefferies
Tanker earnings downgraded as recovery stalls Only a 'black swan event' can derail 2023 earnings rebound as higher rates return owners to black, says investment bank
Bidders persist with Shipping Corporation of India's protracted privatisation The Indian government has yet again delayed the privatisation of state shipping giant SCI amid reports that the bidding process...
Maritime leader calls for dedicated UK shipping minister Britain's shipping, ports and maritime services industries were shocked when the highly popular and effective minister Nusrat Ghani lost her...
Stern removed from Wakashio wreck Vessel's owner says oil booms that had been set up following the grounding will be removed by the end of...
Call for better vaccination records for seafarers While seafarers visiting the UK can receive vaccinations, they are cannot have their status recognised. The UK's seafarer welfare organisation...
Ammonia-ready ships add $22m to newbuilding costs Study also concludes no economic case for ammonia-ready tanker to switch to the alternative fuel under current International Maritime Organization...
Chinese New Year adds uncertainty to supply chains China's zero-coronavirus policy may put a stop to extended holidays again this year. Even so, shippers are concerned about further...
CMA CGM joins export working group US exporters have struggled with supply chain disruption. A new working group will look to come up with solutions
Cosco box shipping earnings fall short of expectations Cosco Shipping Holdings has posted weaker-than-expected earnings as lifting volume dropped substantially in the fourth quarter of last year
Daily Briefing Liner lobby opposes EU bid to make charterers pay for carbon | Shipping emissions rise 4.9% in 2021 | Logistics...
Matson to ship aid relief to Tonga The Honolulu-based firm says a previously unscheduled voyage to Tonga will this week depart from Auckland, New Zealand carrying relief...
Eastern Pacific bans coal cargo on dry bulkers The company's No Coal Cargo policy for commercially managed vessels is part of an environmental, social and governance strategy
Seafarers' group builds school in central Philippines More than a dozen storms hit the Philippines every year, some of which cause extensive destruction of properties and loss...
Airline group says global cargo volume grew 6.9% in 2021 Passenger airlines are limping back to health, but the air cargo sector is on fire.
Port of Savannah overcomes 'serious headwinds' to land cargo record The Port of Savannah handled a record 5.6 million TEUs in 2021.
Airbus launches cargo airline with whale-shaped super transporter This beluga whale doesn't swim, it flies. Airbus built a freighter that looks like the whale so it can get large shipments in the front...
US working with Europe to identify additional non-Russian gas supplies: White House The Biden administration is working with European allies to find additional natural gas supplies from North Africa, the Middle East, Central Asia and the US in the event Russian flows get disrupted, White House spokeswoman Jen Psaki said Jan. 25.
Russia says still a 'reliable' energy supplier to Europe in 'difficult' times Russia moved on Jan. 24 to assert that it remains a "reliable guarantor of European energy security" a day after the US and UK governments began withdrawing embassy staff from Kiev amid concerns that Ukraine, a key transit hub for oil and gas, could be invaded.
OIL FUTURES: Crude moves up on geopolitical concerns, Fed meeting Crude oil prices rose during early morning trade in Europe Jan. 25 amid increased concerns about rising interest rates in the US and geopolitical tensions between Russia and Ukraine.
AUSTRALIA DATA: Nov gasoil imports hit record high 15.29 mil barrels as pandemic restrictions ease Australia's gasoil imports rose 30% year on year to a record high 15.29 million barrels in November, and were up 3% from October, preliminary data from the Department of Industry, Science, Energy and Resources showed Jan. 25, as the populous east coast states eased pandemic movement restrictions.
Weather-related export delays ease at Russia's railways, ports Weather related delays are easing along Russia's railways and at ports, with the exception of the Black Sea ports, Russian Railways said late Jan. 24.
Singapore 500 ppm gasoil differential flips to premium on lean supply, firm demand The FOB Singapore 500 ppm sulfur gasoil cash differential turned positive Jan. 24 on the back of tighter-than-expected regional supply and rebounding demand.
Gibraltar port closed by bad weather The port of Gibraltar has closed, with all inbound traffic suspended Jan. 25 following gale and strong wind warnings at the port.
CHINA DATA: 2021 fuel oil exports rise 23% on year to 19.27 mil mt China's fuel oil exports rose 23% year on year to 19.27 million mt in 2021 as bunker fuel sales continued to rise, showed latest data from the General Administration of Customs.
Bosporus shut due to heavy snow; delays at Novorossiisk "Just four tankers passed through the Bosporus on Jan. 23 and now we're seeing only two pass through today," a shipbroker said.
China's ports face congestion due to bad weather, COVID-19 regulations: sources Ports across China are facing congestion due to unfavorable weather conditions and disruptions owing to COVID-19, market sources said Jan. 24.
Asia residual fuels: Key market indicators for Jan 24-28 Supply tightness in Asian marine fuel 0.5%S market is expected to remain due to a lack of blending components until the first half of February, traders said Jan. 24. The tightness, however, is likely to ease in the second half of February as at least one cargo of Skikda crude and one of sulfur cutter stocks, is going to arrive in Asia.
Shanghai-Zhoushan high sulfur bunker fuel price spread turns negative The Shanghai delivered 380 CST high sulfur bunker fuel price traded below the Zhoushan equivalent Jan. 21 for the first time since January 2021, when S&P Global Platts started receiving Zhoushan 380 CST bunker fuel price indications, sources said.
South Korea delivered 0.5%S bunker fuel hits all-time high on rising crude, tight supply The outright price of South Korea delivered marine fuel 0.5%S bunker rose $48/mt since Jan. 3 to reach an all-time high of $713.50/mt Jan. 24 on tight supply and in line with the rise in international crude markers, S&P Global Platts data showed.
EUROPE AND AFRICA RESIDUAL AND MARINE FUEL: Key market indicators this week FOB Rotterdam 0.5%S marine fuel barges were assessed at $626/mt on Jan. 21, up $1.25/mt week on week.
RUSSIA DATA: Dec fuel oil exports down 10.9% on year at 2.75 mil mt Russian fuel oil exports in December fell 10.9% year on year and 5.2% month on month to 2.75 million mt, according to data released Jan. 24 by the Central Dispatching Unit of the energy ministry.
AMERICAS BUNKERS: Key market indicators Jan. 24-28 Spot marine fuel retail bunkers pricing in the Americas enters the week of Jan. 24-28 with mixed direction, as key ports in North America grapple with tight supply, while some Latin American markets see shifting demand fundamentals as primary drivers.
Armed robbery incidents along Singapore Strait at 6-year high in 2021: ReCAAP A sharp rise in reported armed robbery against vessels along the Singapore Strait to a six-year high in 2021 bucked the wider trend in Asia, but is not expected to threaten the city-port's standing as the world's largest bunker hub as much as regional bunker price competition, according to market sources polled by S&P Global Platts.
Peru studies rescinding Repsol's contract to operate La Pampilla refinery over oil spill The Peruvian government is studying rescinding Repsol's contract to operate the La Pampilla refinery if an investigation finds evidence of negligence in a recent oil spill, a senior government official said Jan. 24.
Nigeria to start up Africa's largest refinery, Dangote, by year-end Nigeria's 650,000 b/d Dangote refinery is undergoing test runs and should be fully ready for operations sometime in the second half of the year, company officials said.
FACTBOX: Abu Dhabi missile attack a reminder of risks to UAE energy infrastructure A foiled Houthi missile attack on Jan. 24 directed at OPEC's third-largest oil producer, the UAE, has highlighted the ongoing geopolitical risks to the oil market.
Oil markets nervous as US evacuates Ukraine staff on Russia invasion fear The US has said it will begin evacuating non-essential embassy staff from Ukraine in the week starting Jan. 24 as concerns over a possible invasion of the gas and oil transit hub helped push crude futures prices close to breaking $90/b.
OIL FUTURES: Crude settles lower as equity slide overshadows Ukraine, UAE tensions Crude prices finished a volatile session lower Jan 24 as a stronger US dollar and a steep selloff in equity markets weighed on sentiment despite simmering geopolitical risks.
Trade flows flip again as Atlantic-bound cargoes said to be diverted to East Asia Several LNG cargoes heading to Europe for February delivery were heard to have been diverted recently to Asia amid an uptick in end-user demand in the Pacific and limited available slots for prompt deliveries in the Atlantic, according to market sources.
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
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