New Jersey makes two major offshore wind awards The New Jersey Board of Public Utilities (NJBPU) today awarded a combined 2,658 MW of offshore wind capacity to EDF/Shell's Atlantic Shores Offshore Wind and Ørsted's Ocean Wind II, bringing the state's
VIDEO: AWO highlights industry commitment to sustainability The American Waterways Operators (AWO) has produced a video highlighting the tugboat, towboat and barge industry's commitment to, and progress toward, environmental sustainability. The video features examples of how the industry is
Cadeler places $651 million order for X-class WTIV duo Copenhagen, Denmark, headquartered wind farm installation specialist Cadeler (OSE: CADLR) has signed a $651 million contract with Chinese shipbuilder COSCO Shipping Heavy Industry Co., Ltd. to build two new X-class wind turbine
VIDEO: TU Delft ready to race with "flying" hydrogen boat A team of students at TU Delft in the Netherlands are getting set to compete at the upcoming eighth Monaco Energy Boat Challenge with what they call the "first flying hydrogen boat."
Global Mercy set for maiden voyage The world's largest civilian hospital ship, Global Mercy, has now been formally handed over to Mercy Ships in a ceremony at the Tianjin Xingang shipyard in northern China. Gothenburg, Sweden, based Stena
How to solve container congestion Ideas to reduce congestion chaos, EU environment plan confirms shipping's worst fears, and little for shipping to celebrate on Day...
Economou cleans up in rare Cuban crude shipments Latest tanker owned by prominent Greek shipowner loaded second Cuban cargo in three months and now sailing for Gibraltar
Lloyd's Register is ready to turn class model upside down Class has traditionally been reactive. The focus on digital solutions in maritime will make Lloyd's Register much more proactive. The...
Euroseas orders feeder brace at Hyundai Mipo The contract for two eco-design fuel-efficient feeder vessels of 2,800 teu, which, according to the company, will consume about 30% less...
Navios Partners adds five bulkers as mother company continues sell-off The acquisition of capesizes Navios Azimuth, Navios Ray and Navios Bonavis will cost $88m and was approved by the conflicts committee of the Navios Partners'...
Carriers push charter rates to record highs In the bizarre world of container shipping economics, paying ultra-high rates is still viable. Indications are that there will be...
CommBank quits shipping amid market uncertainties Ship finance experts say the bank's exit will not have a big impact on the shipping market as financing is...
Wynn-Williams steps down as chairman of Thomas Miller Profit down despite increased turnover, as company commits to growth through M&A
How long can bulk market benefit from containerisation spillover? Geared bulkers are said to be the beneficiaries, as well as the breakbulk and ro-ro fleet, and although the peak...
Cyber insurance failing to improve security A cyber insurance study finds the industry is failing to spur companies to improve their cyber security. Data sharing is...
Indonesia's Pertamina to develop LNG bunkering The plan unveiled by Pertamina calls on two of its business units to collaborate on LNG trading and bunkering
Daily Briefing Free to read: Iranian box fleet continues to trade despite sanctions | Liberalised maritime regulation can aid trade recovery |...
Precious Shipping gets $85m sustainability-linked loan The long-term financing package includes an IFC A loan of $55m, a parallel loan of $15m from Export-Import Bank of...
LNG bunkering ramps up off Malaysia Malaysia looks set to challenge Singapore for a larger share of the still nascent LNG bunkering market
Shipping urged to 'engage' with supply chain to solve US port problems An investigation into congestion at the ports of Los Angeles, Long Beach and New York & New Jersey has highlighted...
Ocean Yield sees another option exercised on one of its tankers The Oslo-listed company said Navig8 Chemical Tankers would take control of a chemical tanker
Vale VLOC is first ore carrier to sail on a carpet of bubbles Mining giant testing Silverstream air lubrication system to reduce fuel use and emissions on Sea Victoria guaibamax
STX Offshore reveals orders for 12 more tankers as revival continues South Korean shipbuilder makes good on promise of more new contracts earlier this year
Moody's takes positive view of shipping as it predicts average 29% profit hike Ratings agency says global recovery has changed its view of the sector as demand improves
Euroseas places first containership order in its history Aristides Pittas-led outfit books a pair of feeder boxships at Hyundai Mipo for a total of $76m
Frangou comes up with another $115m loan to deal with Navios bonds CEO to provide new facility as Navios Maritime Holdings tackles notes maturity
Bocomm Leasing makes woodchip carrier debut with $310m newbuilding deal State-owned Chengxi Shipyard is commissioned to build eight ships that will be chartered to China's largest paper manufacturer
Proman adds two more newbuilds to methanol-fuelled tanker tally Swiss producer and operator inks fifth and sixth vessels in innovative series in China
HMM privatisation back on track as shipowner pursues expansion Shipowners biggest shareholder looking to offload stake as fleet grows
Astrup Fearnley and DNV to offer emissions calculator to shipbrokers and owners Norwegian groups developing new software through the Veracity by DNV platform
Ever Given release delayed after Suez Canal grounding settlement Hopes the containership would be preparing to sail appear premature as parties continue to finalise deal
Hartmann-Abou Merhi fund buys LPG carriers as it seeks more growth Pelagic Partners strikes deal to add ships to low-profile fleet as it sets out to tap global post-Covid-19 growth
Can we believe in an 'explosive' rebound in tanker rates? Soaring oil prices traditionally lead to demand destruction but perhaps things could be different this time
Navigare Capital linked to sale effort as ultramax bulker values soar Identity of ship purchased by Belships emerges as Eagle Bulk tied to purchase
Vitol and Trafigura take Greek aframaxes and suezmaxes on short period tanker charters Most shipowners and charterers opt to stay put as spot markets remain sluggish
Solstad sells another PSV as term deals revealed for four more ships Owner moves another vessel closer to disposal target following restructuring
Norden adds another $40m to profit forecast as forward bulker rates jump $10,000 Danish owner points to big spikes in levels for supramaxes and panamaxes in the second half of the year
More 'Prexit' for Eagle Bulk as GoldenTree eyes the door in $79m deal Underwritten public secondary offering would slash holding by more than half as private-equity selldown continues
Lack of international vaccination strategy is failing seafarers Every effort must be made to expand the patchwork of vaccination availability for seafarers
Goats and boats: Sustainability role combines passions at UECC Car carrier's energy and sustainability manager follows in footsteps of his eco-warrior parents
BW-backed Cadeler splashes $651m on two wind turbine ships at Cosco shipyard Oslo-listed shipowner says price has risen for X-class duo in China
Navios Maritime sells trio as spin-off mounts $182m five-ship acquisition Daughter company Navios Maritime adds three capesizes and two newbuildings to expanding fleet
Precious Shipping lines up $85m sustainability loan with IFC First green loan for Thai shipowner to help finance four specialized cement carriers and a bulk carrier
Fred Olsen teams with Shimizu for global wind farm vessel work Norwegian and Japanese owners will work together to utilise Shimizu's new installation ship coming in 2022
'An icon': Dubai shipping legend George Varghese dies Credited for helping to put the Middle East on the global cruise map, Varghese collapsed during a golf game
More 'Prexit' for Eagle Bulk as GoldenTree eyes the door Underwritten public secondary offering would slash holding by half as private-equity selldown continues
Frontline accused of privacy violations over employee emails Norway's data privacy watchdog probes opening of emails between a sacked bookkeeper and Frontline's head of newbuildings
Wrongful dismissal lawsuit lifts lid on life inside Frontline Management Office politics, spending spats and a distracted John Fredriksen feature in court action over the abrupt firing of a company veteran
Dubai shipping legend George Varghese dead Credited for helping to put the Middle East on the global cruise map, Varghese collapsed during a golf game
Nitin Mehta jumps from Tomini Shipping to GMS Dry-bulk chief executive trades newbuildings for scrap as fourth generation takes the helm
Dubai shipping legend George Varghese dies Credited for helping to put the Middle East on the global cruise map, Varghese collapsed during a golf game
Japan's Lepta piles on Maersk-backed containership newbuildings at Yangzijiang Company brings tally of 3,500-teu boxships to 10 on the back of long-term charters to Danish liner giant
Singapore's IMC recruits Keith Denholm to head up dry bulk arm Asia veteran's initial role will primarily be focused on growing shipping company's asset light operating business
Some more 'Prexit' for Eagle Bulk as major investor eyes the door Underwritten public secondary offering would slash holding by half as private-equity selldown continues
Georgia Ports Authority nets $47M federal grant for inland container port Federal funding and private investments lend support to the supply chain infrastructure surrounding the Port of Savannah.
Hellman Logistics to offer pan-European drone delivery in 2022 The Black Swan drone is coming and it can carry more than a toothbrush from Walgreens. Dronamics is working to set up droneports all over...
How COVID variants could impact container and tanker shipping More problems loom for importers of Asian containerized goods and tanker slump could last even longer.
VLCC fixtures shrouded in secrecy in ailing tanker market A mostly transparent VLCC market is witnessing an increase in deals being concluded privately as a dismal freight market is offering charterers the luxury to quietly pick and choose their preferred owners as well as keep fixtures under wraps.
FUJAIRAH DATA: Oil product stocks climb as light distillates still volatile Oil product stockpiles at the port of Fujairah on the UAE's east coast climbed to a two-week high, led by a 34% increase in gasoline and other light distillates.
REFINERY NEWS ROUNDUP: New projects in Angola unlikely until 2025 Angola is in the midst of securing long-term supply deals for its refined product needs as a slew of new refinery projects are unlikely to come online till at least 2025.
ConocoPhillips outlines 10-year plan, reduces 2021 capex 4% to $5.3 billion Nearly six months after closing its acquisition of Permian Basin operator Concho Resources, ConocoPhillips June 30 set out an ambitious 10-year operating plan June 30 that aims to grow oil production about 3%/year and deliver superior returns at an average breakeven cost slightly under $30/b.
OIL FUTURES: US crude stock draws extend sixth week amid surging refinery demand US crude oil inventory draws extended in the week ended June 25 amid rising refinery appetite and static production, US Energy Information Administration data showed June 30.
Houston to play crucial role in energy transition: executive The world will miss agreed climate protection targets without the deployment of large-scale negative emissions solutions by 2025, a coalition of UK industrial companies and investors said June 30.
World set to miss climate targets without negative emissions: UK coalition The world will miss agreed climate protection targets without the deployment of large-scale negative emissions solutions by 2025, a coalition of UK industrial companies and investors said June 30.
Med ULSD premiums hit 6-month high as quarter-end destocking eases, demand improves Cash differentials for CIF Mediterranean ultra low sulfur diesel cargoes touched a six-month high at a $6.25/mt premium to the front-month ICE low sulfur gasoil futures contract June 30, with destocking pressure ahead of the quarter-end having eased and demand picking up, traders said.
July ex-wharf 0.5%S bunker premium at China's Zhoushan port sinks on supply overhang The premium for ex-wharf marine fuel 0.5%S bunkers loading in July at China's Zhoushan port inched down to flat to a premium of $2/mt to Singapore Marine Fuel 0.5%S cargo assessments, from $4-$5/mt for June loading due to ample supply and thin demand, traders said during the week of June 28.
Hong Kong delivered 380 CST bunker to remain tight until mid-July The supply of 380 CST bunker fuel for the delivered market in Hong Kong has tightened after the lifting of the 14-day quarantine rule in mid-June, and is expected to remain tight at least until the middle of July when replenishment cargoes are scheduled to arrive, bunker suppliers based in Hong Kong said June 30.
Fujairah delivered bunker premium flips to discount amid limited demand Bunker suppliers in Fujairah offered delivered marine fuel 0.5%S at competitive levels to capture a limited demand amid strengthening outright price, pushing delivered premium against FOB Singapore cargo price into negative territory.
TENDER DATA: Thailand's PTT offers IMO 2020-compliant fuel oil for July 19-21 PTT last sold 28,000 mt of IMO 2020-compliant fuel oil with 100-380 CST viscosity for loading over June 4-6 from Map Ta Phut at a discount of $6-$7/mt to Mean of Platts Singapore Marine Fuel 0.5%S assessments, a company source said.
Middle East producers set to hike August crude OSPs on stronger Dubai market Middle East oil producers are widely expected to raise their term crude prices for Asian refiners for August-loading cargoes on the back of market strength that has seen premiums for benchmark cash Dubai crude strengthen recently.
US crude exports' four-week moving average hits more than one-year high US crude exports over the four-week period ended on June 25 rose to a more than one-year-high as exporters have benefited from particularly low freight rates, the US Energy Information Administration showed June 30.
Pickup in commercial talks boosts Cheniere's hopes on mid-scale LNG project Cheniere Energy expects to make a "substantial dent" by the end of 2022 in building sufficient buyer support for a proposed mid-scale expansion at the site of its Texas liquefaction facility, Chief Commercial Officer Anatol Feygin said June 30 in an interview.
INTERVIEW: CMB targets ammonia dual-fuel ships from 2024, Antwerp hydrogen expansion Belgian shipping company Compagnie Maritime Belge will run ammonia dual-fuel ships in new large vessels its fleet from 2024, as it navigates a transition away from fossil fuels, and expands its hydrogen refueling operations in Antwerp, according to CEO Alexander Saverys.
Anglo American completes biofuel trial to decarbonize ocean freight The trial was conducted onboard the Frontier Jacaranda on a voyage from Singapore to South Africa.
Bangladesh's July HSFO imports likely to fall 10% on month on low industrial demand The imports are likely to decline approximately 10% month on month to 337,500 mt, Karim added.
Alfa Laval, Wallenius partner to develop wind propulsion for ships The AlfaWall Oceanbird solution could reduce emissions by 90% on the largest ocean-going vessels, the statement said.
OIL FUTURES: Crude edges higher as market eyes OPEC+ meeting, rising delta variant The June 29 meeting of the OPEC joint technical committee could provide some early indication regarding the group's plans, analysts said.
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