Fincantieri Bay launches first U.S.-flagged Great Lakes bulker in nearly 40 years Fincantieri Bay Shipbuilding and the Interlake Steamship Company hosted a launch ceremony Thursday that marked the latest milestone in the construction of the new 639-foot M/V Mark W. Barker, its float out
Man held after apparent pipe bombs found on towing vessels The U.S. Attorney's Office for the Southern District of West Virginia reports that Nathaniel Blayn Becker, 42, of Marietta, Ohio, was charged October 28 in a federal criminal complaint with possession of
Interior pushes ahead on 3 more offshore wind projects The U.S. Department of the Interior is stepping up efforts to reach the goal of deploying 30 gigawatts (GW) of offshore wind energy by 2030. Yesterday, it announced three more initiatives, saying
Decarbonization on center stage at Global Maritime Forum summit Shipping decarbonization has been very much in focus in the run up to the 26th UN Climate Change Conference of the Parties (COP26), being held in Glasgow, October 31-November 12. Ahead of
Shell and Trafigura invest in pollution-scrubbing tech firm Shell Ventures, Trafigura, AET, and Saudi Aramco Energy Ventures have invested in a Swiss firm that hopes to strip methane...
LNG daily rates near $300,000, setting fresh record Few shipowners to benefit from sky-high rates as most vessels in the 630-ship fleet already chartered
Shipping must not cop out, even if the UN does A breakthrough in Glasgow would be preferable. But IMO member states must reach a deal on shipping emissions, whatever happens
In 2021, what are first-world flags even for? Too many catchpenny jurisdictions out there market themselves on zero effective taxation and zero effective enforcement. The Red Ensign must...
Inchcape chief sees emissions 'fast track' amid regulatory crackdown Both technical and operational measures can be adopted to cut fuel consumption and thereby reduce emissions, says Olsen
Alternative fuels: Why shipping needs a clearer route to carbon zero The China Classification Society believes more work is needed to evaluate the carbon emission reduction effect of the alternative fuels...
Box demand boosts Panama Canal throughput The number of transits increased only marginally during the canal's fiscal year. But larger ships saw far more tonnage pass...
Freight rates wobble but they don't fall down With no easing in demand or easing of congestion, rates remain high. And there are fears that supply chain disruption...
MOL boosted by boxship and dry bulker boom The vast majority of its profits this year have been contributed by its box shipping joint venture Ocean Network Express
US targets measures to speed velocity at Southern California ports Port of Los Angeles executive director Gene Seroka says that 'having our federal and state transportation agencies working in unison...
The Lloyd's List Podcast: Good COP, bad COP Why does COP26 matter to shipping, and what does the difference between a good COP and a bad COP look...
Daily Briefing UK tonnage tax change unlikely to boost Red Ensign | Shipping looks to COP26 to pressure IMO to increase green...
Retailers allay fears of supply chain shortfall in holiday shopping Consumer spending in the US is set to break all records in the fourth quarter. The NRF says the record...
ONE forecasts $12bn full-year profits on continued box shipping frenzy Chief executive Jeremy Nixon says a profitable container shipping industry capable of meeting the future investment requirements of decarbonisation is...
SoCal port commissions endorse carrier fines for container backlogs The Port of Los Angeles is hoping to scare the freight community into more efficient behavior with big fines for the slow retrieval of containers.
FMC waits for details on California port surcharges The ports of Los Angeles and Long Beach haven't informed federal regulators yet about their plans to hit ocean carriers with big fees for excessive...
SoCal ports could fine carriers for tardy containers by Nov. 15 The ports of Los Angeles and Long Beach are turning to heavy-handed tactics to address a container logjam that is gumming up supply chains.
Middle Eastern countries stress international efforts, tech transfer to tackle climate change Leaders in the Middle East emphasized the role of international cooperation, technology transfer and financial instruments in the transition to a green global economy ahead of the UN Climate Change Conference, talking up investments in renewables and highlighting the need to not damage economic growth at the inaugural Middle East Green Initiative Summit in Riyadh Oct. 25.
Eni confirms 2021 oil, gas output guidance as price recovery lifts Q3 earnings Eni confirmed it expects its oil and gas production to grow this year after a rebound in prices powered a jump in earnings during the third quarter of 2021.
OIL FUTURES: Crude edges higher on tightened supply, demand outlooks Crude oil futures settled higher Oct. 29 as the market eyed continued near-term supply deficits and bullish demand outlooks.
Brazil's Petrobras, CADE in talks to restart three failed refinery sales Brazilian state-led oil company Petrobras has been in talks with the Justice Ministry's Antitrust Division, known as CADE, about restarting the process to sell three refineries that failed to elicit acceptable offers, CFO Rodrigo Araujo said Oct. 29.
Brazil's Petrobras firm on refined products import parity price policy: director Brazilian state-led oil company Petrobras remains committed to keeping domestic fuel prices at parity with international imports, despite the specter of another walkout by independent truckers to protest the policy, the company's sales and logistics director said Oct. 29.
Gasum delivers first renewable biogas to offshore vessel Gasum supplied liquified biogas (LBG) to Lundin Energy's supply vessel Island Crusader, according to a Gasum company statement Oct. 29.
ARA fuel oil stocks plummet to 19-month lows to 1.02 million mt: Insights Global Stocks of fuel oil in the Amsterdam-Rotterdam-Antwerp region plummeted to 19-month lows in the week ended Oct. 28, according to data from Insights Global, amid reports of tight market conditions.
US reliance on Russian oil continues in August as refiners seek heavy feedstocks Russia was the No. 2 oil supplier to the US in August, as Valero and other refiners continue to seek heavy fuel oil feedstocks as an alternative to sanctioned Venezuela supplies.
Shell, Saudi Aramco and Trafigura invest in universal scrubber startup The technology breaks down the pollutants, converting them into non-hazardous by-products, which are released into the environment or transformed into valuable products.
Delivery of international carbon market rulebook a key goal for COP26 Agreement on a rulebook would enhance countries' ability to balance domestic emissions reductions with international offsets, with participation in voluntary markets likely to ramp up dramatically.
US energy envoy sees tight oil market, warns prices could slow economic recovery OPEC and its allies appear set to reaffirm plans to increase crude production by 400,000 b/d in December after an advisory committee saw no major changes in the market's supply/demand outlook.
COP26: INTERVIEW: Carbon credit demand set to overwhelm supply: Vertree The value of the global Voluntary Carbon Market rose to $473 million in 2020 and is on track to exceed this value substantially in 2021, analysis company Ecosystem Marketplace said in a report Sept. 15.
China likely to skip gasoil exports in Nov to ensure supply at home China has been suffered from gasoil supply shortage since September as refineries slashed the output while new hefty consumption tax on imported light cycle oil, a blending material of gasoil, shut the access of the inflow.
COP26: Global climate talks underscore growing role for energy transition benchmarks Among the biggest risers are battery metals, recycled plastics, electrolysis-derived hydrogen, voluntary carbon credits and guarantees of origin.
OIL FUTURES: Crude oil mostly steady after fall in previous session A bull run in the oil market has experienced breaking momentum recently, amid reports that Iranian nuclear negotiations could resume in November.
JAPAN DATA: Sept fuel oil sales jump 16% on year on stockpile demand The increased fuel oil sales come as some Japanese power utilities move to secure fuel oil domestically for winter amid high spot LNG prices.
COP26: Gold Standard says soon to issue first carbon credits with 'corresponding adjustment' Governments so far have not been able to trade voluntary carbon credits because of the lack of a mechanism requested by Article 6 to keep track of where credits go to avoid the same credit from being counted by both the host country and the purchasing country.
BUNKERWORLD: Bunker, shipping markets face demand headwinds **High freight dampens spot bunker demand in Asia **Limited EMEA supply amid backwardation **Multi-year highs for Latin America MGO
China reaffirms climate targets in submission of Nationally Determined Contributions It remains unclear whether Beijing will adopt any stricter targets during the summit. Developing countries are expected to enter negotiations over critical issues like funding for new technology development and carbon offsets.
REFINERY NEWS: Italy's Eni reports higher throughput in Q3, Jan-Sept Italian energy group Eni said Oct. 29 that throughput at its Italian refineries in the third quarter rose 23% year on year to 4.53 million mt.
Hydrogen moves toward commercialization as Singapore plans first imports When asked about the evolution of downstream demand for hydrogen, Kong said eventual consumption could be split across a range of sectors outside power generation, and not all end-users would be expected to make the first move, but interest was growing.
SINGAPORE DATA: Residue stocks rise for 4th straight week amid decline in fuel oil outflows Over the past couple of weeks, congestions, which entailed longer waiting times for barges queuing to refuel terminals, have been a bottleneck to bunker demand and operations, market sources said.
Japan's bunker supply expected to tighten in Nov on higher demand The supply of both marine fuel 0.5%S and high sulfur bunker fuel has already started to tighten, bunker traders said.
Fujairah-delivered 380 CST high sulfur bunker premium hits 19-month high on strong demand "HSFO bunker inventories at Fujairah is tighter at the moment because there were some days with very good demand," a bunker supplier said.
Singapore delivered marine fuel 0.5%S bunker differential vs HSFO hits 20-month high "As expected, prices of delivered 380 CST HSFO in Singapore weakened in second-half October and it should continue into November too," a trader said.
OIL FUTURES: Crude inches higher amid ongoing deficit, Africa supply outages "There are still risks to demand. A surge in new cases of COVID-19 threatens to slow the recovery in oil demand," ANZ analysts said.
Renewable hydrogen 'cheaper than conventional hydrogen' by 2030: Australia CEFC executive "The forecast we have is, within this decade, roundabout 2030, green hydrogen will be cheaper than blue hydrogen," Maloney said.
China takes initial steps to allow voluntary carbon credits in national carbon market Earlier this week, all provincial environment ministries were required to confirm emission quotas assigned to each company in the national trading scheme.
China's CNOOC lifts domestic gas output by 12% to 348 Bcf in Jan-Sep The growth in gas output is expected to be sustainable as its Lingshui 17-2 deepwater gas field in the South China Sea reached full operation in September.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio No part may be reproduced without the express permission of the publisher
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
