Tanker banned from Australia for multiple MLC breaches The Australian Maritime Safety Authority (AMSA) has banned the Liberian-flagged oil tanker AG Neptune from Australian ports for six months for breaches of the Maritime Labor Convention (MLC). According to the Equasis
Austal USA gets $156 million award to build two more T-ATS Austal Limited (ASX:ASB) reports that its Austal USA subsidiary has been awarded a $156,171,650 fixed-price incentive contract option from the United States Navy for the construction of two Navajo-class Towing, Salvage, and
CC-Ocean carbon capture project receives Marine Engineering of the Year Award The world's first of its kind ship-based carbon capture system to be successfully trialed on an actual voyage has received the Marine Engineering of the Year 2021 (Doko Memorial) Award from the
American adds California to its small-ship cruise itineraries Guilford, Conn., headquartered American Cruise Lines is again adding to its offerings. Beginning in 2023, the company, the largest small-ship cruise line in the U.S., will offer a brand new 8-day San
Huisman develops traveling quayside crane for offshore wind load-outs Schiedam, Netherlands, headquartered Huisman Equipment BV has developed a 700 tonne traveling quayside crane for the load-out of offshore wind turbine components. It says that the move comes following rising demand for
American Ship Repair partners with C-LNG solutions Singapore-headquartered C-LNG solutions has selected Brooklyn, N.Y., based American Ship Repair (ASR) to serve as its official representative in the United States. This new alliance continues ASR's longstanding tradition of partnering with
Too early to price resumed Ukrainian port calls, marine insurers warn 'No owner is going to go in before there is a plan for mine clearance. At this stage, this is...
Capital Product raises €100m in second Greek bond issue Shipping companies have completed four successful Greek bond offerings since last year
Kuehne+Nagel pushes through congestion to record earnings Outlook for capacity remains tight and demand remains strong. But yields are high as customers look for solutions to supply...
Scrubber-fitted vessels give 'outsized earnings' for listed shipowners New York investment bank Jefferies initiates coverage of maritime shipping with positive assessment for 'newer and versatile' ships
The week in charts: Crew abandonment rises | ESG rankings revealed | Shipyards face cancellation risks European buyers stock up on coal, Genco Shipping & Trading tops ESG scorecard and arrivals to Black Sea grow amid...
The week in newbuildings: Tanker orders revive New orders for four bulk carriers, seven boxships, nine tankers and six vehicle carriers recorded in the past week with...
Dry bulk market still seen as strong despite headwinds Despite a threatening macro-economic slowdown affecting demand, Berge Bulk chief executive is positive on the dry bulk market outlook based...
Successful delivery key for shipyards amid rising performance risks, says Cansi Yards have been struggling to make money. How to turn the recent order boom into real profits is the biggest...
Groups launch call for early review of consortia exemption rules The Consortia Block Exemption Regulation was extended by four years in 2020. Shipper groups now want to bring forward a...
VLCC rates rebound taking hold as Chinese crude demand returns Shipbroker Braemar assesses average spot rates for a modern VLCC with scrubber installed at $36,361 daily - 260% higher than...
Ship towed to Somalia after a week drifting in pirate waters US and European Union warships helped an elderly ro-ro in heavy seas off Puntland after the vessel, Anatolian, spent nearly...
Cosco tanker unit approves $61.7m capital increase for China LNG Shipping source said Hudong-Zhonghua and South Korean shipbuilders are bidding for seven LNG carriers order
PSA launches digitalisation initiatives in Singapore's haulage sector Digitalised processes enable greater efficiency, reliability, timeliness and transparency in the movement of goods across supply chains, PSA said
Sumec Marine wins ultramax pair order from U-Ming Marine Sumec has signed more than 30 shipbuilding contracts for the IMO's environmental regulations-compliant vessels
Manual freight data entry holding Australia back Manual freight data entry and a lack of standards is 'wreaking havoc' on Australia's ability to compete, PwC says, adding...
Daily Briefing Getting Ukrainian grain to hungry people really is a matter of life and death | Russia and Ukraine reach deal...
Kuehne+Nagel Q2 profits rise 78% on lower shipping volumes Kuehne + Nagel continued profit growth in Q2 by charging customers more for extra service to keep supply chains fluid.
Viewpoint: Why Europe is so important to the empty-container supply All the pipes of trade are connected. If one pipe starts to have empty-container constriction, container prices will be influenced across the board.
Shell to acquire Shell Midstream after upping offer to value of $6.2 billion Shell said July 25 it will buy and consolidate its Shell Midstream Partners spinoff after agreeing to up the value of the US pipeline company to $6.2 billion from a previous February offer of $5.1 billion as oil prices rose throughout most of the year.
OIL FUTURES: Crude rallies amid weaker dollar, market focus on Fed rate hike decision Crude futures settled higher July 25 as the market weighed lingering recession concerns against tight global supply outlooks and a weaker US dollar.
US crude stocks likely see modest draw, continue to normalize amid tepid refinery demand US crude oil inventories likely continued to normalize in the week ended July 22, as tepid refinery demand likely blunted an expected seasonal stock draw, an S&P Global Commodity Insights analysis showed July 25.
ASIA MIDDLE DISTILLATES: Key market indicators for July 25-29 Asian middle distillate market focus remains on supply concerns for the July 25-29 trading week as rising availabilities coupled with fickle arbitrage economics lead to more barrels being seen stuck within the region.
Malaysian, Vietnamese sweet crude oil premiums rise to record high Cash differentials for medium sweet crudes in Southeast Asia surged to record highs on the back of healthy refinery margins, while middle distillate product cracks remained at multi-year highs, market sources told S&P Global Commodity Insights July 25.
EMEA MIDDLE DISTILLATES: Key market indicators Logistical issues created by low Rhine water levels may hamper middle distillates barge trading activity by raising freight costs, while supply of ULSD in cargo markets was said to be balanced and the outlook uncertain.
EUROPE AND AFRICA RESIDUAL AND MARINE FUEL: Key market indicators Very low sulfur fuel oil markets have been supported by strong middle distillates, with low diesel stocks in Europe and backwardated markets keeping diesel prices high.
AMERICAS BUNKERS: Key market indicators July 25-29 Spot marine fuel bunkers markets in the Americas enter the week of July 25-29 on a bearish kick following declines tied to weaker upstream crude indicators and soft demand, with market players looking to crude futures in particular for direction.
Shippers, logistics firms ask EC to review antitrust immunity for container lines Ten trade associations representing shippers and logistics firms have jointly called on the European Commission to carry out an immediate review of container lines' exemption from EU competition laws.
REFINERY NEWS: Iran's Tehran oil refinery ends one-month basic overhaul Basic overhaul completed on July 24, the plant's operation director Mostafa Seyed-Reza-Tehrani said.
Russian plants enjoy good fortunes, for now Refinery runs are increasing for now and most plants, apart from those undergoing maintenance, are ramping up gasoline and diesel production as Russians opt to head for domestic holiday destinations after many international airlines suspended flights to and from Russia following Moscow's invasion of Ukraine.
SOUTH KOREA DATA: Russian crude imports fall 78% on year to 706,524 barrels in June South Korea's crude imports from Russia fell 77.9% on the year to 706,524 barrels in June, marking the fourth consecutive month of year-on-year decline, latest data from Korea Customs Service showed.
EKOFISK CRUDE TRACKER: Three Aframaxes arrive to load in week to July 24 Despite softening product cracks, refining demand for light sweet crude in Europe is holding firm.
ICE LSGO futures net length falls 2,310 contracts on week Open interest in the futures rose by 6,127 contracts to 483,524 over the reporting week.
OIL FUTURES: Crude rebounds amid interest rate concerns While oil markets made gains during mid-morning trading, volatility continues to plague futures markets, as investors consider the impact of further interest rate hikes against limited economic growth and tightened supply.
ASIA RESIDUAL FUELS: Key market indicators for July 25-29 The Asian low sulfur fuel oil market was likely to ease on the back of near-term demand-supply balance, pointing to an easing of availability of both finished grade product and low sulfur blending components in August.
Oman Oil starts bunker sales at Sohar port as alternative to UAE's Fujairah IMO-compliant 0.5%S sulfur marine fuel, 0.1%S marine gasoil and 3.5%S 380 CST bunker fuel are being offered after getting a bunker license from the Sohar Port and Freezone, El Kati told S&P Global Commodity Insights on July 22.
Hong Kong's bunker spread against Zhoushan narrows to over 21-month low Weak demand for low sulfur fuel oil bunkers in Hong Kong amid a build up of stocks pressured delivered premiums, flipping price spreads against Zhoushan into deeper discounts despite being mostly assessed at premiums to the North Asian bunker hub since 2021.
REFINERY NEWS ROUNDUP: European refiners report strong Q2 results; some incidents Essar, the owner of the UK's Stanlow refinery, said its domestic sales over April-June -- the company's first quarter -- amounted to 1.72 million mt, up 10% year on year, and were up 8% at 3.2 million mt in the first half of 2022.
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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