Ørsted and Eversource pick CTV partners Ørsted and Eversource have selected two regional vessel operators that will partner with Rhode Island shipyards to build crew transfer vessels (CTVs) to Northeast wind farms. The joint venture partners will charter
Another guilty plea in Navy bribery case In the latest development in the so-called "Fat Leonard" case, U.S. Navy Commander Stephen Shedd pleaded guilty in federal court Wednesday to bribery charges. In his plea agreement, Shedd admitted that he
New Baleària ferry will test bed hydrogen fuel cell Spanish ferry operator Baleària is building a battery-hybrid ferry for the Ibiza-Formentera route that will emit zero emissions during port stays and approaches, helped by the experimental use of a hydrogen fuel
Kirby CEO sees "very favorable" outlook for 2022 "Looking forward into 2022, the outlook for marine transportation and distribution and services is very favorable, and we expect material growth in earnings during the year," said David Grzebinski, president and CEO
Scorpio sells 14 tankers for $472.2m Hafnia confirms the purchase of 12 LR1s for $413.8m from Scorpio as it looks to renew its fleet. It is...
Zim updates agreement with 2M Zim has always sat outside the large alliances and has had only a co-operation agreement with 2M. That is being...
Teekay targets renewable energy sector after gas carrier exit The corporation's status as a pure tanker shipowner is temporary, says chief executive Kenneth Hvid, as it examines possibilities in...
GasLog Partners takes hit on steam turbine fleet values The $104m non-cash impairment loss left the New York-listed partnership with a net loss of $70.8m for the three-month period
UK urged to scrap pay freeze for nuclear transport seafarers Union says seafarers face a public sector pay freeze despite the importance of their jobs to national security and the...
Golar LNG spin-off launches $250m private fundraiser Plans for CoolCo have been tweaked to raise initial capital privately prior to Euronext listing
Greenpeace calls for oil boom to counter 'grave threat' of abandoned tanker Greenpeace has called for an oil boom to be placed around the floating storage vessel Safer and urged countries to...
Shipping is 'sleepwalking into manning crisis' Index reports on the yo-yo impact of the pandemic and the associated restrictions
Shippers face a decade of higher container freight rates Even if congestion and delays are resolved, box shipping faces structural changes. Covid-19 and decarbonisation will maintain rates at an...
Small to medium-sized bulkers fare better than capes While capesizes have lost 70% in their spot earnings value since the start of the year, panamaxes are only down...
Daily Briefing Shipping scrambles to manage Russia sanctions risk | Tanker boost and higher oil and gas prices if Russia invades Ukraine...
Schoeller exercises heavylift vessel option at CSSC yard Huangpu Wenchong Shipbuilding says the order will help develop its expertise in building heavylift vessels
Port of Houston sets throughput record with 15% growth The port's import volume for last year as a whole is forecast at 1.63m teu, a 25.9% increase compared with...
Samsung Heavy gets approval for carbon capture technology on LNG-fuelled vessels SHI develops onboard carbon capture system for conventionally-fuelled vessels that can also be used on LNG-powered ships
X-Press Feeders sticks with China yard for 7,000 teu pair Deal raises the total number of similar-sized newbuildings ordered by Sea Consortium at Waigaoqiao in the past year to 12
China Airlines orders 4 Boeing 777 freighters after 2021 cargo record China Airlines has 21 freighter aircraft in its fleet and is adding capacity to meet trans-Pacific demand.
Los Angeles imports slump further as congestion throttles volume SoCal imports suffering multimonth slide, not because of falling demand, but because of supply chain bottlenecks.
Ship Recycling Transparency Initiative gets 31st member: Volkswagen Volkswagen aims to support sustainability in shipbuilding and ship recycling through the initiative, said Simon Motter, head of Volkswagen Group Logistics.
ARA diesel, gasoil stocks fall 7.87% on week to 1.69 mil mt: Insights Global Diesel and gasoil stocks in Amsterdam-Rotterdam-Antwerp hub fell 7.87% to 1.69 mil mt in the week to Jan. 19, as measured by Insights Global.
SAUDI DATA: Nov gasoil exports extend uptrend; rises 10% on month Saudi Arabia's gasoil exports rose 9.76% month on month, and 32.86% on the year to 3.08 million mt in November 2021, continuing the uptrend which started in September, latest data from the Joint Organizations Data Initiative showed.
INDIA DATA: India's 2021 crude imports up 3.9% on year India's crude imports in 2021 rose 3.9% year on year to 209.6 million mt, or 4.2 million b/d, Petroleum Planning and Analysis Cell data showed Jan. 27.
South Korea concerned about oil, gas prices due to Ukraine crisis; rules out major impact South Korea is concerned about prices hikes of crude oil and LNG on possible supply disruptions due to the Ukraine crisis, an energy ministry official said Jan. 27, but ruled out major impact on the country's oil and LNG supplies because its purchases are based on long-term contracts.
Shipping should not wait for a silver bullet to meet decarbonization goals: panel The race to decarbonization is gathering pace, with a plethora of impending regulations presenting an opportunity to the industry to work towards a common denominator, but there is no room for complacency as more needs to be done to overcome the hurdles, industry experts said at a DNV webinar.
INDIA DATA: Oil product exports rise 5% on year to 60.83 mil mt in 2021 India's oil product exports rose 5.4% year on year to 60.83 million mt, or 1.31 million b/d, in 2021, the latest provisional data from the Petroleum Planning and Analysis Cell showed Jan. 27 as global demand for fuels improved in 2021 compared with the COVID-19-hit 2020.
OIL FUTURES: Crude retreats from seven-year high amid profit-taking, stronger dollar Crude oil futures settled lower Jan. 27, retreating from seven-year highs amid profit-taking and a stronger US Dollar.
US vows to block Nord Stream 2 pipeline if Russia invades Ukraine The US will block the startup of the Nord Stream 2 gas pipeline to Germany if Russia invades Ukraine, a top State Department official said Jan. 27, putting a finer point on similar threats made by the Biden administration in recent months.
Valero optimistic on 2022 refining margins as product demand continues to recover Valero Energy is optimistic that 2022 refining margins will remain strong, with gasoline and diesel demand continuing to rebound, CEO Joe Gorder said.
CHINA DATA: Dec bitumen blend imports fall 52% on month to 419,640 mt China's bitumen blend imports in December dropped 51.7% from the previous month to 419,640 mt, the latest customs data released by the General Administration of Customs showed.
Global mobility edges back from holiday slump as omicron concerns continue to weigh Stocks are now 38.96% lower than the same period last year.
ARA diesel, gasoil stocks fall 3.6% to 1.625 mil mt: Insights Global Stocks are now 38.96% lower than the same period last year.
Japan's ENEOS seeks to raise Jan-Mar fuel oil prices by 2%-3% on firmer oil The refiner also seeks to raise the price of higher sulfur fuel oil to Yen 63,850/kiloliter for the January-March quarter, up 2.3% from the settled price of Yen 62,430/kiloliter in the previous quarter, according to documents.
OIL FUTURES: Crude remains steady after overnight gains Crude prices surged on Jan. 26, with Brent jumping above $90/b for the first time since 2015.
Japan's Idemitsu to sell ex-wharf bunker fuel in Singapore, takes storage: sources The margins from ex-wharf LSFO bunker sales in Singapore remain supported since November 2021, when inventories dwindled significantly to fall short of downstream bunker demand, local traders said.
Asia's LNG importers risk supply disruptions if Ukraine conflict hits gas trade Asian countries are also entering a period of geopolitical uncertainty after the price extremes of 2020 and 2021 that demonstrated how interconnected the Atlantic and Pacific basins have become, and how fluid trade flow changes can be.
Bangladesh's Jan HSFO imports set to rise 14% on month amid gas squeeze The country's natural gas supplies have fallen due to the suspension of operations at a floating storage and regasification unit caused by a technical problem, a senior Petrobangla official told S&P Global Platts Jan. 26.
SHIPPING: LR2s find fewer takers even as freight discount widens on supply surge A lack of cargoes has hurt the rates of bigger ships, with LR2s at the lowest level in 2022, and at a w22.5 discount to LR1s Jan. 26.
Sri Lanka's Hambantota port starts MGO bunkering to essay strategic role While HIP has commenced MGO bunkering, it is still at a nascent stage as most of the loadings from there pertain to low sulfur fuel oil, a Colombo-based bunker trader said Jan. 27.
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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