Viking Cruises installs first full-scale PCR lab at sea As cruise lines prepare to resume sailing under protocols calling for extensive COVID-19 testing of passengers and crew, Torstein Hagen's Viking Cruises said today that it has completed installation of the first
Navy shifts delivery strategy for second Ford class carrier Huntington Ingalls Industries (NYSE: HII) reports that it has received an undefinitized contract award from the U.S. Navy to shift the delivery strategy for the aircraft carrier John F. Kennedy (CVN 79),
Golden Ray salvage ops move ahead With the giant twin-gantry, twin-barge catamaran VB-10,000 now on-site in St. Simons Sound, Ga., responders have been taking the final preparatory steps needed as it starts cutting into the capsized car carrier
Royston develops whole vessel approach to energy management Newcastle, U.K., headquartered marine engineering and propulsion specialist Royston has introduced a new Vessel Energy Management (VEM) concept designed to help fleet owners identify ever smarter ways to maintain optimum vessel and
New DNV GL rules add digital and smart ship notations With ships evolving into sophisticated sensor hubs, generating data and connecting through satellites in an expanding interconnected web, DNV GL is adding a new chapter to its rules for ship classification: Digital
INTERCARGO slams charterers for preventing crew changes Dry bulk operators' association INTERCARGO reports that it has learned that, in a number of instances, charterers in the dry bulk sector have been preventing much needed crew changes from taking place
Another prison term in long-running Navy bribery case Former U.S. Navy Chief Petty Officer Brooks Alonzo Parks has become the latest defendant to receive a prison term in the so called "Fat Leonard Affair" - the wide-ranging corruption and fraud
Dorian LPG surveys stronger market for VLGCs after tough quarter Chief executive says the results reflect 'to a large extent' the low freight market of the previous quarter that closed...
Floating storage economics fail to lift tankers for pandemic's second wave Tankers chartered for floating storage shielded the market from the first coronavirus oil demand shock as crude prices plunged to...
Marine insurance shrugs off pandemic impact 'Our analysis is reporting the beginnings of a modest market recovery in most business lines' - secretary-general Lars Lange
Pacific Drilling files for second Chapter 11 bankruptcy Pacific Drilling filed for Chapter 11 in Texas after succumbing to the low oil prices and sapped demand that has...
Capital Product eyes expansion as profits double Owner of 10 boxships notes a 'strong rebound' across the containership charter market but sees coronavirus-linked uncertainty clouding prospects
Seadrill risks default as debt deals expire Seadrill says debt 'forbearance agreements' with senior creditors have expired, leaving it vulnerable to default. It had struck the deals...
Former maritime minister says UK has neglected shipping in pandemic 'Thus far, the Department for Transport has focused its attention primarily upon the aviation industry. There has not been comparable...
Standard Club 'expecting pushback' on double-digit general increase 'It's not a question of marking to market, or trying to get into the top of the range or the...
Scorpio chairman says dry bulk didn't deliver returns as expected Scorpio chairman Emanuele Lauro says the company is going through a tough time but its focus now remains on implementing...
More work to be done to stem maritime skills decline With the age profile within the service industries that support shipping increasing, do we face a future skills shortage for...
Shanghai Shipping Exchange launches freight index to spur derivative trading SSE hopes the new product with greater reliability to help establish a derivatives market, with the organisation's president Zhang Ye...
Daily Briefing Free to read: Transatlantic tanker earnings plunge | Container demand remains strong | China warning over pirate attacks | Latest Maritime...
Container shipping outlook positive as Cosco earnings surge Strong spot rates are expected to extend into the fourth quarter, and may push up the contract rates next year...
MOL seals contract for three ships for Artic LNG 2 project The Japanese line says the new vessels will be able to ply the Northern Sea Route throughout the year and...
Korea Shipbuilding wins two LNG carrier orders worth $375m With two months to go before the year closes out, Korea Shipbuilding & Offshore Engineering Co has won two more...
Six more Xihe tankers said to be up for sale Xihe's fleet is being marketed for sale, batch by batch. Following the successful efforts of a previous lot, which included...
A shift to better maintenance is accelerating Shipowners are looking at methods of ensuring asset availability and exploring predictive maintenance for future use. They may find old...
Pfizer to bypass US government system for COVID vaccine distribution Pfizer and Moderna have developed vaccines that need to be deep frozen. Most freight distribution companies and medical facilities don't have super-cold freezers, so governments...
LNG shipping rates just hit $125,000 per day Positive COVID recovery signal: LNG shipping is behaving normally again, with a typical seasonal spike.
Military vehicle imports help JAXPORT combat COVID-19 storm 2020 wins include harbor-deepening funding and Blount Island berth enhancements.
Career Tracks: TraPac CEO tapped to lead Port of Virginia ZeroNorth makes board appointments, and Southeastern Freight Lines promotes a service center manager.
US ELECTIONS: Trump signs fracking order aimed at voters more than supply The Trump administration's weekend executive order on fracking -- aimed squarely at the tight election race in No. 2 gas producer Pennsylvania -- is the latest in a string of White House orders on energy that will have mostly messaging impact rather than changing any supply or demand fundamentals.
US ELECTIONS: Much at stake across the commodity spectrum for energy sectors The table is set, it's time for the main course.
OIL FUTURES: Crude rallies as Novak signals openness to OPEC+ quota extension Crude futures climbed off five-month lows to settle higher Nov. 2 amid signs that OPEC+ will extend its current production quotas into 2021.
Platts FOB Singapore fuel oil trading volume in Oct jumps on month to 1.4 million mt Trades in physical FOB Singapore fuel oil cargoes during the Platts Market on Close assessment process surges more than doubled to 1.409 million mt in October from September, S&P Global Platts data showed Nov. 2.
USAC diesel premium to heating oil surpasses three-year high Diesel's premium over heating oil for barrels delivered into the US Atlantic Coast rose Nov. 2 to its largest level in more than three years, powered by a combination of factors.
Marathon Petroleum lowers fourth quarter run rates as it shifts to lighter crude slate Marathon Petroleum will cut refinery run rates in the fourth quarter as it grapples with higher costs and weak demand resulting from the coronavirus pandemic, CEO Mike Hennigan said on Nov. 2.
November Primorsk ULSD exports up 29% on month Exports of ultra low sulfur diesel from the Russian port Primorsk in the Baltic will total 1.232 million mt in November, a 29% rise from October and 1% higher than November 2019.
Venezuela's average oil output rises 25,000 b/d on month to 410,000 b/d in Oct Venezuela's overall oil production in October rose to an average 410,000 b/d, a 25,000 b/d increase from September's 385,000 b/d, according to state-owned PDVSA's daily production reports reviewed by S&P Global Platts.
Kazakhstan to extend ban on diesel imports Kazakhstan plans to extend its ban on diesel imports until April, the energy ministry said in a statement, citing energy minister Norlan Nogaev.
Russia's Tuapse ULSD exports to jump 56% on month in November The November ULSD export program from the Russian Black Sea port of Tuapse is scheduled to total 300,400 mt, up 56% month on month, according to a copy of the loading program seen by S&P Global Platts Nov. 2.
Platts FOB Singapore gasoil trades fall to 4-month low in Oct on muted demand The volume of physical gasoil cargoes that traded during the Platts Market On Close assessment process in Singapore slipped to a four-month low in October on the back of persistent demand challenges facing the middle distillate product.
European LSGO futures net speculative length hits 8-month low Speculative net long positions in ICE low sulfur gasoil futures fell 9,366 contracts to 883 in the week to Oct. 27, the lowest level since March 27, according to ICE data.
US crude stocks expected lower as Hurricane Zeta shuts US Gulf production US oil inventories likely declined in the week ended Oct. 30 as Hurricane Zeta shut in Gulf of Mexico production, an S&P Global Platts analysis showed Nov. 2.
Europe and Africa residual fuel, key market indicators this week The Northwest European bunker markets have remained relatively resilient despite the current economic environment, as Rotterdam bunker sales rose 8% on the quarter during Q3, port authority data showed. High sulfur fuel oil increased its share in Rotterdam's bunkers market despite unfavorable payback economics for scrubber installations.
RUSSIA DATA: Spimex Oct. oil product volumes down on month **Fuel oil sales fall 17% **Refinery turnarounds weigh on output
OIL FUTURES: Oil climbs midday as strong US economic data boosts outlooks **US manufacturing PMI hits 23-month high **UK announces four-week lockdown **RBOB cracks hit two-month low
Global oil demand to peak in 2028 due to pandemic, faster transition: Rystad **Oil demand to peak at 102 million b/d **Sees faster EV update, plastic recycling **Sees steep decline to 62 million b/d by 2050
Oil storage plays could resurface as second-wave hits demand **Floating storage near seven-month lows but decline to slow **Storage economics could improve as demand recovery stalls **VLCCs garner $25,000 per day for short-term charter bookings
AMERICAS BUNKERS: Key market indicators this week **USGC, Panama see retail 0.5%S pricing at lowest point since June **Key Latin American ports eye uptick in demand following Oct seasonal lull **Pacific Northwest sources expect Vancouver supply to improve in early Nov
REFINERY NEWS: ExxonMobil's Antwerp back from works: sources **October maintenance ends
REFINERY NEWS: India's IOC runs at 90% as demand recovers **IOC refineries running at increasing levels **India's fifth phase of unlock began in October
Asia residue fuel market - Key market indicators this week **Most Asian refiners look to lower LSFO production rates in November **Singapore HSFO market expected to be tight in November
Poseidon Principles, pricing, partnerships set to boost LNG bunkering: sources **Poseidon Principles' funding criteria favorable for LNG-fueled ships **Ample supply, uncontracted volumes to keep lid on LNG prices **More partnerships with charterers to propel LNG bunkering
OIL FUTURES: Crude dives as UK enters lockdown, pre-election jitters grip markets According to media reports, the UK's lockdown will entail the closure of pubs, restaurants and non-essential businesses.
Singapore 380 CST HSFO prompt backwardation widens to 9-month high "The HSFO market is strong. Refiners are cutting their run rates... we still see demand from Pakistan. Demand from the power sector is still strong," a fuel oil trader said.
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