Stonepeak to acquire Teekay LNG in $6.2 billion transaction New York City headquartered investment firm Stonepeak is to add TK LNG Partners (NYSE: TGP) to its $39 billion portfolio of infrastructure and real assets under management. A merger agreement announced today
Norwind Offshore places CSOV, SOV orders with Vard Fincantieri's Vard subsidiary has booked a significant order from Norwind Offshore, a new offshore wind farm support company that, like Vard, is based in Ålesund, Norway. Started by some long established players
Keppel O&M tug first with ABS Remote Control Navigation notation A remotely operated harbor tug developed by Keppel Offshore & Marine (Keppel O&M) is the first in the world to receive the ABS Remote Control Navigation Notation. A trial of the 65-meter
VIDEO: Damen e-ferry nominated for Ship of the Year Award Damen's all-electric ferry Bryggen has been nominated for the 2021 KNVTS Ship of the Year Award. This prestigious prize is presented each year to an outstanding, technically innovative ship designed and largely
Management changes at Thordon Bearings Anthony Hamilton has been appointed as the new technical director at Thordon Bearings. Reporting directly to CEO Anna Galoni, he will lead the Burlington, Ontario, headquartered company's engineering, CAD, and new product
Chief engineer and Greek ship owner and operator indicted A New Orleans grand jury last week indicted ship manager Empire Bulkers Ltd., ship owner Joanna Maritime Limited and chief engineer Warlito Tan for alleged violations of environmental and safety laws involving
Eastern Pacific Shipping tackles mental health head-on Eastern Pacific Shipping (EPS) has partnered with Mental Health Support Solutions (MHSS) to break the mental health taboo and provide professional psychological support to its 5,000-strong and growing workforce across sea and
Kirby names new CFO Kirby Corporation (NYSE: KEX) reports that Raj Kumar will be joining the company as executive vice president and chief financial officer in November 2021. He will succeed Bill Harvey, who previously announced
Marine insurers cancel 'spoofing' Iran-linked ships Intervention by a New York-based non-governmental organisation has been followed by action from insurers removing some Iran-linked vessels from their...
Piraeus agrees expansion deal for car terminal A 35-acre expansion of the existing terminal area will create parking space for another 5,400 cars, while existing port facilities and...
Teekay sells LNG unit for $6.2bn Under Stonepeak's ownership, Teekay LNG will have improved access to competitively priced capital for both fleet renewal and potential future...
Eagle Bulk unveils new dividend policy amid $400m refinancing Under the new policy, payments of quarterly cash dividends equal to a minimum of 30% of net income, but not...
IEA calls for more hydrogen investment Governments must lower barriers to hydrogen's growth as a fuel if the world is to meet its 2050 emissions pledges...
The week in charts: Demolition drought | Surge in Venezuelan subterfuge STS transfers | Weighing the economics behind boxes on bulkers Sky-high box and bulker rates have led to a dearth in demolition numbers across both sectors, while tanker scrapping too...
Genco to focus on dividends and cutting debt Genco's chief executive says he wants to carry out paying dividends even if markets turn softer and one of the...
Bottlenecks and 'pent-up demand' to bolster freight market Short-term disruptions aside, the logistics executive says more focus should be put on the changes that will be shaping the...
Yildirim mulls sale of CMA CGM shares The 24% shareholding in French group CMA CGM represents one of the very few opportunities for financial investors to acquire...
Sovcomflot signs multi-LNG carrier deal with Novatek The newly ordered gas carriers will meet all the current environmental requirements and will be compliant with the most stringent...
Delays soak up more than a tenth of boxship capacity Carriers have deployed all available capacity to meet demand. But congestion driven delays mean a capacity equivalent to CMA CGM's...
Belships extends expansion with two supramaxes The new vessels will take the firm's fleet to 29 supramax and ultramax bulkers, with an average age of four...
Daily Briefing Venezuela expands deceptive shipping practices to bolster Asia crude exports | The BDI: Back to 2008, but in a good...
CSSC nets LNG carrier quartet order from Qatar Petroleum Order comes after a long-term LNG sale and purchase agreement signed between Qatar Petroleum and the gas and power unit...
CDB Leasing orders nine ultramaxes at domestic yard Deal will further boost the shipping portfolio of the Chinese lessor, which has been scooping up vessel assets this year
How supply chain chaos and sky-high costs could last until 2023 With no end in sight for global supply chain crisis, importers warned to brace for high costs throughout next year.
Viewpoint: LA empty containers tell a compelling story According to customs data, the share of empty exports to total exports leaving the Port of Los Angeles is up over 10% and leaving at...
IATA forecasts 2021 air cargo revenues to hit record $175B Air cargo is booming, but the pandemic set back international passenger airlines by seven years or more by several metrics.
Despite exodus of empty containers, US exports are hitting new highs Containerized exports continue to struggle but overall, U.S. exports are rising. Sales are at record levels for some commodities.
Global oil demand 'very healthy', lack of investment could send prices higher: Aramco CEO Some of the reasons are short term, he said, such as high electricity costs in the UK and Europe in general and a shortage of natural gas, estimating the switch from gas to oil at some 500,000 b/d.
September fuel oil barge volumes traded in London MOC rise 6.6% on month Fuel oil complex was reportedly tight during the month of September, providing support to the complex. Tight supply fundamentals came from dynamics in Asia, as well as high natural gas prices.
OPEC+ committee recommends 400,000 b/d November crude production increase The recommendation must be ratified unanimously by the 23-country OPEC+ coalition, which meets later in the day.
Japan's IMO-compliant domestic bunker contracts for Q3 settles at Yen 69,400/kl The settled quarterly price, widely used by bunker fuel suppliers and shipowners in Japan's domestic market, is decided by representatives of fuel oil suppliers and shipping companies in quarterly discussions, with companies taking turns each quarter in handling the discussions.
Bunkering delays expected at Fujairah, backlog building Traders said the backlog has intensified due to robust bunker demand on the first trading day of the week, as some buyers had not been deterred.
OIL FUTURES: Crude edges slightly higher ahead of OPEC+ production decision According to Commerzbank analyst Carsten Fritsch, significantly higher prices and tight supply are putting pressure on OPEC+ to increase production by more than the 400,000 barrels per day originally planned for November.
ICE LSGO futures net speculative length up 14,510 contracts on week Sentiment was bullish in the Mediterranean ultra low sulfur diesel market Oct. 1, with a shorter Tuapse loading program and upcoming refinery maintenance set to tighten supply.
Oman 'almost back to normal' as Sohar port reopens after cyclone One bunker trader at the port said he hasn't been able to provide bunkering operations at Fujairah since Oct. 2. He said he has two ships waiting for bunkering, and expects to resume filling orders within a day.
REFINERY NEWS: Belarus Naftan operations not affected by fire at coker The fire occurred in the week ending Oct. 1, due to a diesel leak during testing of the delayed coker.
IEA sees 'encouraging signs' on 'important' low-carbon hydrogen expansion However, governments need to move "faster and more decisively" on implementing hydrogen policy measure, particularly around demand, for the world to stand a chance of reaching mid-century net-zero emissions goals, the IEA said in its Global Hydrogen Review 2021.
REFINERY NEWS: Italy's Livorno to stop crude refining by end-2022 - sources The decision was presented as aligning with the general global move towards winding down the use of fossil fuels, the sources said.
Ministerial meeting backs need to strive for Paris Agreement The consensus was reached Oct. 4 during the first Asia Green Growth Partnership Ministerial Meeting (AGGPM), which was launched by Japan, to consider realistic energy transitions toward carbon neutrality and measures to achieve green growth in Asia.
Operations at Russian port of Novorossiisk disrupted as storm forecast extended Loadings of crude and diesel tankers are facing renewed delays, a spokesperson for Russian crude oil pipeline operator Transneft said Oct. 4.
RUSSIA DATA: September oil production up as OPEC+ eases output cuts Output was up 2.7% on the month and 8% on the year to 43.86 million mt -- or 10.72 million b/d -- in September.
OPEC+ plan to boost output not enough to meet demand, build inventories: Vitol's Muller OPEC+ ministers are set to meet virtually Oct. 4, when they will discuss the tapering of production and November quotas.
Asia residual fuels: Key market indicators for Oct 4-8 South Korea's marine fuel 0.5%S bunker supply is expected to tighten slightly in October due to refinery maintenance.
Weak demand caps Fujairah Oct ex-wharf low sulfur marine fuel premiums Suppliers are cautious about overcommitting to large quantities of ex-wharf purchases on term contracts, as sales of the International Maritime Organization-compliant bunker fuel in September were estimated to have fallen by "at least 5% month on month," according to traders.
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