DOJ Antitrust Division intervenes in Zen-Noh grain elevator acquisition Zen-Noh Grain's planned acquisition of Bunge Mississippi River grain elevators has hit a bump in the road. The U.S. Department of Justice has announced that it will require Zen-Noh Grain Corp. (ZGC)
VIDEO: X-Press Pearl sinks at stern A virtually new containership that has been on fire off Sri Lanka since May 20 partially sank today, just as salvage efforts were seeming to show some progress. As we reported earlier,
New fireboat is first Moose on Great Lakes Vallejo, Calif., based Moose Boats has delivered a new M2-38 fireboat to the Rochester (N.Y.) Fire Department. Rochester is on the southern shore of Lake Ontario and its new fireboat, Marine 1,
Golden Ray: Cutting and clean-up efforts continue After the setback that followed last month's fire inside the Golden Ray wreck, cutting operations have continued as responders work to dismantle the remains of the capsized car carrier and remove them
Bureau Veritas to class 10 Portuguese electric ferries Bureau Veritas (BV) has won a contract for the classification of the 10 electric ferries under construction at the Gondán Shipyard in Spain for Portuguese operator Transtejo. Set to enter service between
U.S. joins Denmark and Norway to lead new push for zero-emission shipping Here's another sign that the Biden administration is all on board with tougher shipping decarbonization goals. The governments of the United States, Denmark and Norway, along with the Global Maritime Forum and
Memphis Engineer District awards $5.2 million dredging contract The U.S. Army Corps of Engineers Memphis District has awarded Great Lakes Dredge and Dock LLC, a harbor dredging contract in the amount of $5,238,035. Contracted work includes dredging six harbors. Memphis
NOAA begins sunsetting process for raster and paper charts When the National Oceanic and Atmospheric Administration (NOAA) announced that it would be phasing out traditional paper nautical charts this year, coastal tug and passenger vessel crews were ready for the most
Harvey Gulf names Jon Holvik EVP business development Harvey Gulf international Marine CEO Shane Guidry reports that Jon Holvik, formerly with Siemens Energy, has been brought on board as executive vice president, business development. In this role, he will enhance
Skou pitches minimum $450 per tonne of fuel tax on ships in the 'medium term' Maersk's chief executive said the company advocates a global tax of at least $450 per tonne of fuel oil -...
Biden global minimum tax push could take in major shipowners 'I'm a tax lawyer, so I'm used to complicated stuff. This proposal is outrageously complicated. It really is redesigning how...
Laskaridis quits Union of Greek Shipowners amid 'Black Trail' fallout In a letter of resignation on Tuesday, Panos Laskaridis made it plain he was outraged that his patriotism had, in...
Weekly Briefing: Tankers 'Groundhog day' | Dry eyes higher earnings | Backlogs and burning boxes fail to hold back rates Chinese policy, strikes, port delays and expectations for higher iron ore exports out of Brazil makes short-term predictions tough for...
From the News Desk: Green path or Black Trail? Shell court ruling a sign of things to come, CMA CGM chief defends LNG, and are we entering a golden...
US consumer demand continues to stoke high freight rates Shoppers are buying goods faster than they can be delivered. With a new caution over supply chains, inventory restocking will...
Shippers call for 'maxed-out' box sector to add more capacity Box lines have deployed all available capacity to meet a surge in demand. But shippers say the system is full...
Eagle Bulk adds ultramaxes to fleet Dry bulk owner paid $44m for the pair, which will be delivered in the third quarter of the year and...
X-Press Pearl sinking after salvage efforts fail Operator X-Press Feeders says the vessel's aft portion is 'now touching bottom' while smoke continues to emanate from two cargo...
Eastern Pacific orders four 7,000 teu boxships with options The newbuilds are scheduled to be delivered between the final quarter of 2023 and early 2024 by the Chinese yard
No one wants to pay for supply chain resilience More consolidation and bigger ships likely on regional trades; Box port congestion will sort itself out and government intervention unwelcome;...
LNG still in the money despite green critiques LNG fleet looks set to expand, defying call to cut investment in the segment
Oldendorff unveils new order and continues bulker acquisition spree The three Japan-built post-panamax bulk carriers which Oldendorff acquired in the secondhand market will enter its fleet between June and...
Daily Briefing Free to read: Salvage operations continue as X-Press Pearl owners face lawsuit | Overdue seafarer numbers increase amid India's Covid surge...
Jones Act vessel chartered for US wind farms The charter's terms also will allow Charybdis to support construction of Dominion's 2.6 gigawatt Coastal Virginia Offshore Wind project off Virginia Beach...
Contships sells brace of ships to MSC as feeder fleets flourish MSC has been a frequent buyer of tonnage in recent months as soaring charter rates make acquisitions look attractive
Governments collaborate on zero-carbon fuels as Nordics back ammonia Three governments announce today they are collaborating on a zero-carbon initiative to shift 5% of the global fleet to zero-carbon...
Alibaba to support small Korean exporters with logistics services Cainiao, which means newcomer or beginner in Chinese, is the 8-year-old logistics unit of Alibaba. Besides providing express delivery for packages ordered through Alibaba, it...
Container ship scores 'off the charts,' 'fantasy' charter rate: $135,000/day Freight forwarder will pay "absolute historic high" to secure container ship as "people are panicking" amid "out of control" market.
Slashing red tape helped airlines speed COVID vaccine shipments International transport rules for dangerous goods could have hindered the vaccine rollout by airlines without swift action by the air cargo sector.
Biden to press Putin on cyberattacks against key US infrastructure: White House US President Joseph Biden plans to press Russian President Vladimir Putin to crack down on ransomware attackers based in his country who are targeting critical US infrastructure like the Colonial Pipeline, White House spokeswoman Jen Psaki said June 2.
Maersk calls on carbon tax for fossil fuel bunkers to bridge transition gap Maersk, the world's largest container company, is calling for a carbon tax on marine fossil fuels to push cost incentives for change as the shipping industry moves toward greener targets.
Singapore 10 ppm gasoil cash differential slides into discount on higher supplies, uncertain demand The FOB Singapore 10 ppm sulfur gasoil cash differential slid into negative territory June 1, falling 13 cents/b on the day to be assessed at minus 10 cents/b to the Mean of Platts Singapore gasoil assessments, as uncertain demand and higher supplies weighed on sentiment.
COLOMBIA DATA: April crude output down 6.3% on year to 745,488 b/d Colombian crude producers pumped an average 745,488 b/d in April, a 6.3% decline from the year-ago month and virtually the same production level as in March when 745,427 b/d was produced, the energy ministry said June 2.
INDONESIA DATA: March gasoil imports surge to 5-month high on seasonal demand Indonesia's gasoil imports surged 83.82% month on month to a five-month high of 283,600 mt in March, and were up 5.76% year on year, data from Statistics Indonesia showed, as demand gained momentum ahead of Ramadan.
Trans-Pacific container rates reach all-time highs as June general rate increases stick Container spot rates on the trans-Pacific lane have surged above previous records as strong booking activity and limited supply led carriers to enforce large GRIs.
MARINE FUEL 0.5%: Global oversupply, weak demand causes contango to emerge The global marine fuel 0.5%S market remained oversupplied for much of May, hurting bunker premiums and resulting in the emergence of a contango market in Asia and Europe. Forward prospects look uncertain as to when the oversupply situation will see any improvement due to sluggish retail bunker demand.
OIL FUTURES: Crude pushes to fresh highs on rising demand outlooks, nuclear deal delays Crude oil futures settled at fresh multi-year highs June 2 amid increasingly bullish demand outlooks, delays in US-Iran nuclear talks and OPEC+ supply discipline.
OIL FUTURES: Rally extends as improved demand, Iran deal delays offset rising supply **OPEC+ sticks to production quotas **Supply deficits likely by year's end: IEA
India's June VLSFO exports to fall amid weak demand: sources **Fall in demand amid imminent monsoon, COVID-19 lockdowns **Refiners announce reduced run rates
RUSSIA DATA: May refining throughput rises 9.3% on year to 23.046 million mt The year-on-year increase in throughput was due to run cuts last year while the monthly drop was due to spring refinery maintenance ramping up.
INTERVIEW: LNG, bunker fuel in transition rather than transition fuel - SEA-LNG chairman **LNG bunker availability, pricing to favor its use **Bio, synthetic LNG viable future options for decarbonization
FUJAIRAH DATA: Oil product stocks soar 16%, biggest jump in more than two years **Product exports lowest since Nov 2020: Kpler **Fuel oil stocks are up 31% this year
China independent refineries struggle for fuel oil amid tight supply, high prices **New tax on bitumen blend makes fuel oil attractive **Straight run fuel oil supplies fall **Less competitive with crude
JAPAN DATA: May 29 oil products stocks rise 1.2% on week to 66.8 mil barrels
JAPAN DATA: May 23-29 oil product exports fall 19% to 1.61 mil barrels Low sulfur fuel oil exports increased 48.9% on the week to 464,787 barrels during the period.
JAPAN DATA: Oil products output dips 1% on week at 14.3 mil barrels May 23-29 Local refiners raised their output of low sulfur fuel oil by 5% on the week at 690,000 barrels in the week to May 29.
Open interest for fuel oil forward curves falls in May as physical trades decline **For Singapore MF 0.5%S forward curve falls 8.61% on month **For HSFO forward curve falls 5.85% on month
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