ESG to begin construction of fourth OPC The U.S. Coast Guard has awarded Eastern Shipbuilding Group (ESG) a $325.06 million contract modification to begin construction of the fourth Heritage Class offshore patrol cutter (OPC), the future USCGC Rush (WMSM
Jury convicts defendant in towboat pipe bomb case Nathaniel Blayn Becker, the Marietta, Ohio, man arrested on October 28 last year after suspected destructive devices were found on several towboats, has been convicted on all four counts in a federal
ABS supports McAllister's sustainability initiatives Classification society ABS is supporting New York City headquartered McAllister Towing & Transportation with greenhouse gas inventory and sustainability reporting services for its fleet of more than 75 tugboats, crew boats and
VIDEO: Ulstein offers cruising a nuclear option Unveiled at the Seatrade Cruise Global event in Miami, the key feature of the 149 meter long Ulstein Thor concept vessel is a thorium molten salt reactor - or MSR. Ulstein says
Op-Ed: IRPT takes its own pulse on cybersecurity by James A. Kearns, Jones Walker LLP For cyber bad actors, especially those for whom ransomware is just another business model, no target is too small. This flies in the face of
All American Marine books contract for innovative offshore wind survey vessel Bellingham, Wash., based All American Marine (AAM) has been awarded a contract to build a research and hydrographic survey vessel for Geodynamics, an NV5 geospacial group company. The vessel, the R/V Shackleford,
Keppel O&M and Sembcorp Marine merger agreed A Singapore mega merger that has been long in the works seems finally set to happen. Keppel Corporation Limited and Sembcorp Marine Ltd entered into definitive agreements yesterday for the proposed combination
Fourth club confirms Sovcomflot P&I cancellation Move could prove problematic for company, with charterers reticent to fix vessels without liability insurance and ports unhappy to admit...
Russia-flagged tanker remains in Greece pending court case The 2003-built Lana was detained on April 15 based on its former ownership. The seizure notice was later withdrawn as...
Lockton signs up to Poseidon Principles for Marine Insurance The world's largest privately held insurance broker joins big-name peers to become the fifth sector player to gain affiliate status
Shipowners 'disappointed' by Suez and Panama canals' toll hikes Shipowners have called for more notice of planned price rises after toll price hikes at the Suez Canal, while the...
DSV upgrades outlook despite uncertain market Slowing economic growth and weaker demand pose a threat. But relentless congestion and a likely rebound in demand when China...
Ship recycling slows as strong freight markets continue Holidays across the Indian subcontinent and improving earnings in the tanker sector have limited demolition transactions recently
Hong Kong shipping faces staffing crunch amid pandemic and political uncertainty In response to incessant heavy-handed coronavirus restrictions, some companies are moving part of their Hong Kong operations or their senior...
Cosco targets carbon neutrality by 2060 Cosco Shipping Holdings plans to reduce the greenhouse gas emission intensity of its container shipping business by 20%
Swedish Club reports underwriting loss for 2021 The year 'sticks out because of pool claims, a high number of larger claims, and the impact of the pandemic'...
Hapag-Lloyd to add tracking devices to equipment fleet Devices for tracking boxes have been available for several years. Hapag-Lloyd's decision to add them to its entire fleet marks...
Busan Port Authority unveils 2050 carbon neutrality plan Port authority plans to go beyond low carbon goal and achieve carbon neutrality in response to the climate change crisis...
Ocean transport delays remain at peak levels Congested ports and longer lead times kept cargo transits at record highs in the first quarter. The full impact of...
European ports warn of deluge of imports A surge of exports is expected when production in China resumes. But those receiving that influx need a co-ordinated response...
Daily Briefing Sovcomflot P&I cover cancelled by multiple clubs | Ukraine war sets up tanker earnings turnaround | Cargill shipping head predicts...
Keppel and Sembmarine sign definitive agreement on shipyard merger Proposed combination is set to create 'a premier global player focusing on offshore renewables, new energy and cleaner solutions in...
Steel, oil and plywood lift Gulf Coast ports' March cargo volumes Gulf Coast ports got a boost in March from imports of steel and plywood, and exports of petroleum and crude oil.
Chunker takes chunk out of California's container congestion CEO Brad Wright explains how Chunker's short-term container storage model reduces risk for shippers.
Prompt COO: Freight forwarders need to go with digital flow Kai Timmermann says the FMC's "relatively standardized narrow dataset will solve a large portion of operational issues" in global shipping.
Magellan launches open season to move more refined products to El Paso Magellan Midstream Partners said April 27 it is launching an open season for a planned expansion of its refined products pipeline network in Texas from Odessa to El Paso.
European weekly fuel oil exports to Asia rebound: Kpler European fuel oil exports to Asia are expected to climb to 400,000 mt in the week starting April 25, up from 350,000 mt the previous week, according to Kpler shipping data.
Russian supply enables Greece to offer cheapest HSFO in Mediterranean Piraeus was offering the cheapest high sulfur fuel oil in the Mediterranean, with supplies in the Greek port boosted by a surge in Russian imports, Kpler shipping data showed.
UK imports of ULSD from Russia plunge 66% on month in April Volumes of ultra-low sulfur diesel imported from Russian Baltics ports into the UK looks set to plunge at least 66% on month to around 101,179 mt in April and 79% from April 2021, according to Kpler data and loading programs.
US gasoline, distillate stocks move lower on steady demand, strong exports Major US refined product inventories saw counter-seasonal draws in the week ended April 22 on the back of steady exports and seasonally strong demand, US Energy Information Administration data showed April 27.
Shell tightens requirements for buying non-Russian oil products in Europe Shell has tightened its requirement for buying non-Russian oil products in Europe in a move set to close a loophole that allowed the company to acquire cargoes of Russian fuels blended with non-Russian alternatives.
Middle distillate physical cracks in Northwest Europe hit record highs Northwest European middle distillate physical cracks hit all-time highs for jet and gasoil, with diesel near a record, amid rising demand and tight supply as buyers shun Russian product.
OIL FUTURES: Crude pushes higher following modest US stock draw, rising sanctions risks Crude futures settled higher April 27 amid a smaller-than-expected US inventory build and continued uncertainty regarding European energy supply.
Indian refiners to take 40 million barrels Russian crude for May-June: sources Indian refiners, who bought 16 million barrels of Russian crude in 2021, will take delivery of 40 million barrels over May and June after values plunged following the invasion of Ukraine, trade and industry sources said April 27.
Marine gasoil prices spike as Russia's middle distillate squeeze spills onto European waters Delivered MGO at Rotterdam reached $1,340 April 21, surging 30.7% in two weeks.
Trafigura to halt all crude purchases, cut fuel offtake from Rosneft before May 15 Commodity traders including Trafigura and Vitol have long-term supply deals in place with Rosneft signed before Russia's Feb. 24 invasion of Ukraine, and had previously said they would halt spot trades of Russian oil but continue to honor the contracts.
OIL FUTURES: Crude moves higher on signs Europe weaning itself off Russian oil Germany has slashed its dependence on Russian crude to 12% of its imports from 35% before the invasion of Ukraine, economy minister Robert Habeck said April 26 as EU officials seek to ramp up pressure on Russia by hitting its oil export revenues from the region.
IEA chief slams Russian energy 'weaponization' as prices surge on Poland gas cut off Gazprom said earlier April 27 it had fully suspended gas deliveries to Bulgaria and Poland due to non-payment in rubles.
JAPAN DATA: April 17-23 oil product exports near steady at 2.03 mil barrels Low sulfur fuel oil exports rose 5.3% week on week to 237,208 barrels in the week to April 23, while high sulfur fuel oil exports surged 64.6% on the week to 819,103 barrels.
JAPAN DATA: April 17-23 oil products output hikes 5.6% on week Production of low sulfur fuel oil fell 2.7% week on week to 0.78 million barrels in the week to April 23, while high sulfur fuel oil production hiked 8.6% week on week to 1.31 million barrels.
JAPAN DATA: April 23 oil product stocks rise 3% to 52.85 mil barrels Middle distillate stocks increased 3.2% week on week to 23.76 million barrels April 23.
Singapore-Zhoushan delivered MF 0.5%S spread narrows to over 22-month low High volumes of bunker inquiries at the North Asia bunker hub have tightened upstream supplies of LSFO, traders said.
Asian Aframaxes at 2-year high as US replaces Russian fuel oil with Asian origin The Middle East's fuel oil and VGO exports to the US have increased manifold, estimated around 850,000 mt this month, up from a paltry130,000 mt estimated in January, according to data from Kpler.
JAPAN DATA: Feb bunker sales down 1.2% on month to 2.67 mil barrels Japan's bunker suppliers received strong demand in February, especially from term-contract customers, according to market sources.
FUJAIRAH DATA: Oil product stocks drop after rare fuel oil shipment to US Stocks of heavy distillates and residues used as fuels for power generation and marine bunkers declined 7.4% over the same period to 11.068 million barrels, the first decline in five weeks.
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