Eastern Shipbuilding recognized as "Manufacturer of the Year" Panama City, Fla., headquartered Eastern Shipbuilding Group, Inc. (ESG) has been honored as "Manufacturer of the Year" by the Bay County Chamber of Commerce. The award recognizes a Bay County company that
DDG 21 completes acceptance trials Naval Sea Systems Command reports that the future USS Frank E. Petersen Jr. (DDG 121) completed acceptance trials, September 16, after spending two days at sea. During trials, the Navy's Board of
FSG books order for LNG-fueled RO/RO German shipbuilder Flensburger Schiffbau-Gesellschaft (FSG) has won an order to build a 210 meter long LNG-fueled RO/RO contract for a RoRo vessel with LNG propulsion for Australian operator SeaRoad. With the pandemic
Vineyard Wind submits proposals for two more projects Hard on the heels of raising $2.3 billion to start construction of its first project, Vineyard Wind last week submitted proposals for two more wind energy developments offshore Massachusetts. The company's proposed
ITF head backs shipping decarbonisation by 2050 International Transport Workers' Federation general secretary Stephen Cotton said the zero emissions transitions can be a big opportunity for workers...
Potential bidders line up for Crete port sale Grimaldi, Attica and Seajets join Thessaloniki port and Portek among nine interested parties lining up for a majority stake in...
Shipping needs to be vigilant over cyber risks Cyber attacks on shipping have undergone a sharp surge since Maersk was a victim of the NotPetya attack in 2017...
Green loan pricing benefits 'not there yet' Traditional banks cannot offer better pricing because they are not receiving the incentives themselves through regulatory support, says global head...
Bulker seriously damaged after collision in Aegean A clipper group handysize has come into collision with a Greek-owned bulk carrier south-west of Bozcaada in Canakkale province. No one...
Pizza ovens and gyms for crew on Eastern Pacific fleet Perks include access to mental health professionals, upgraded accommodation and fitness programmes
Where is the outrage over ports' refusal of crew change? East of the Suez Canal, crew change is an exception rather than the rule today. And the problem with that...
Daily Briefing Top regulators find no evidence of price collusion by box lines as shippers demand answers | The unbroken laws of...
Speculation continues over Yang Ming's order spree The company described the media reports as 'speculations', adding it has not published any expenditure plans
US ports plan 24/7 supply chain operations to cut delays The Pacific Merchant Shipping Association said dwell times were up in August with the increased throughput at the two west...
Shipping stocks hammered as China fears intensify Dry bulk shares suffer double-digit declines, with tanker and container stocks also caught up in the sell-off.
Loonie tune: Air cargo to O'Hare being routed through Toronto Air-truck service via Toronto is faster for some logistics companies than booking shipments direct to O'Hare, where delays are mounting.
Ultra low sulfur heating oil markets jump while RVO continues to diminish Ultra low sulfur heating oil markets soared to multi-month highs Sept. 20, strengthening considerably with the largest gain seen on the Atlantic Coast, while the Renewable Volume Obligation sank.
RUSSIA DATA: August refining throughput rises 9.2% on year to 24.686 mil mt Russian refineries processed 24.686 million mt (about 5.8 million b/d) of crude in August, up 9.2% year on year and 5% higher from July, according to energy ministry data released Sept. 20.
Asia middle distillates: Key market indicators for Sept 20-24 Asian middle distillate markets started Sept. 20-24 trading week on a steady note, as supply-side factors continue to boost sentiment in the gasoil sector while market participants in the jet fuel/kerosene segment await fresh pricing cues.
REFINERY MARGIN TRACKER: US West Coast margins fall as inventories reach seasonal highs US West Coast refinery margins fell on rising gasoline and distillate inventories despite a drop off in production but refinery outages following an earthquake could impact the Los Angeles market, an analysis from S&P Global Platts showed on Sept. 20.
VIETNAM DATA: Aug gasoil imports fall to 17-month low as COVID-19 lockdowns stifle demand Vietnam's gasoil imports tumbled to a 17-month low in August amid subdued demand for the fuel as the Southeast Asian nation struggled to combat a rising number of COVID-19 infections by implementing some of its strictest lockdown measures seen to date.
EMEA MIDDLE DISTILLATES: Key market indicators for this week European middle distillates market cash differentials were largely rangebound in the week to Sept. 17, amid stable fundamentals, with some length on the prompt in terms of jet fuel, and an unmoved demand picture for ULSD.
AMERICAS BUNKERS: Key market indicators Sept. 20-24 North America's spot marine fuel markets registered mixed price movements entering the week Sept. 20-24, with market attention remaining on US Gulf Coast supply and logistics, along with global consumption forecasts.
US crude inventories expected to keep falling as refineries come back online US crude inventories likely continued falling for the week ended Sept. 17 as COVID-19 pandemic oversupplies kept unwinding and more refineries came back online in the aftermath of Hurricane Ida, analysts surveyed by S&P Global Platts said Sept. 20.
Russia will adopt energy transition action plan by year-end: prime minister Russia will adopt an action plan to adapt the Russian economy to the global energy transition, aimed at decreasing oil and gas in its energy mix, by the end of 2021, Prime Minister Mikhail Mishustin said Sept. 20.
OIL FUTURES: NYMEX WTI falls to test $70/b threshold on stronger US dollar Crude oil prices fell Sept. 20, with front-month NYMEX WTI briefly testing the $70/b threshold, as stock market woes combined with a stronger US dollar, recovering US supplies and Chinese economic concerns to weigh on commodities.
Singapore Q4-Q1 gasoil time spread soars to more than 20-month high on supply tightness The Singapore Q4-Q1 10ppm sulfur gasoil derivative time spread hit more than a 20-month high at the close of Asia trade Sept. 17, supported by tighter regional supply balances and expectations of an improvement in the demand outlook.
National climate targets mean global emissions could peak before 2030: UN Total global GHG emissions, without land-use and forestry, and taking into account the latest national commitments, are expected to rise to around 54.8 billion mt of CO2 equivalent by 2025 and 55.1 billion mt by 2030, the UN said in the report.
CHINA DATA: Aug oil product exports drop 22% on month, hit 13-month low at 2 mil mt The country's total exports of the three products between January and August dipped 1.5% year on year to 31.13 million mt, according to customs data.
Oil majors pledge net zero target, update goals to cut methane, carbon intensity The OGCI includes BP, Chevron, CNPC, Eni, Equinor, ExxonMobil, Occidental, Petrobras, Repsol, Saudi Aramco, Shell and Total.
FACTBOX: Rising gas price threatens UK retail energy market The risk of defaults in the UK energy retail market have soared on the back of rising wholesale gas and power prices. The following is a breakdown of the major issues being tracked by S&P Global Platts.
RUSSIA DATA: January-August throughput at seaports rises 1.6% on year *OPEC+ cuts weigh on crude exports *Rises from coal, containers, sugar
EUROPE AND AFRICA RESIDUAL AND MARINE FUEL: Key market indicators this week HSFO bunker fuel was strong at the end of last week, as prices reached their highest level since July.
OIL FUTURES: Crude oil prices fall as Gulf production rises, demand uncertainty looms Supply woes seem to be easing as Baker Hughes reported the US oil and gas rig count, a gauge of future output, at 512 Sept. 17, adding nine rigs in the past week and taking the total to the highest since April 2020.
Goldman sees oil over $85/b if cold winter triggers more gas-to-oil switching **Almost 1 mil b/d oil demand boost likely given a chilly winter **Fuel oil, LPG in Asia and Europe most exposed to switching **Platts Analytics sees up to 320,000 b/d of additional demand
REFINERY NEWS: Shell's Pernis to launch biofuel plant in 2024 The plan was announced in July but, at the time, there was no final investment decision.
Weak demand for delivered Japan Marine Fuel 0.5%S pushes spreads, premiums to multi-month low The lower premium is the result of weakened spot demand for Marine Fuel 0.5%S bunker fuel in Japan, as buyers preferred to purchase on a term contract basis due to the uptick in crude prices over the past two weeks, a Japan-based trader said.
Asia residual fuels: Key market indicators for Sept 20-24 An optimistic sentiment was more apparent on the Asian high sulfur fuel oil front, where the market for both 380 CST HSFO and 180 CST HSFO were expected to remain firm going well into second half October loading trades.
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
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