Oldendorff bulker set to be largest ship to load logs in New Zealand A deal has been finalized that will soon see an Oldendorff Carriers post-Panamax bulker become the largest vessel to ever call at New Zealand for the loading of logs. The fixture is
$8.25 million settlement in case involving injuries to 17 Alabama shipyard workers Mobile, Ala., personal injury law firm Cunningham Bounds reports that last month, a few weeks before trial was set to begin, it obtained an $8.25 million settlement on behalf of 17 shipyard
Hyundai Heavy gains BV AiP for ammonia-fueled ammonia carrier Bureau Veritas (BV), has given an Approval in Principle (AiP) to Hyundai Heavy Industries Co., Ltd. (HHI) and Korea Shipbuilding & Offshore Engineering Co., Ltd. (KSOE) for an ammonia-fueled ammonia carrier. The
Industry leaders want zero emissions by 2050, carbon tax by 2025 As climate change takes center stage at the UN General Assembly, more than 150 leading players from across the shipping value chain have signed on to a "Call to Action for Shipping
World's first all-electric tugboat completes 18 months in operation Turkish tugboat designer Navtek Naval Technologies says that its first Zeetug (zero-emission electric tugboat), Gisas Power, has proven its design and operational performance with consistent results over the past 18 months. Navtek
Quincy Regional Barge Dock awarded Rebuild Illinois capital grant The city of Quincy, Ill., has been awarded $743,200 for improvements to the Quincy Regional Barge Dock. The award was included in $16.5 million in Rebuild Illinois capital grants announced September 21
ABS names Gregg Lennon VP, global offshore wind ABS has appointed Greg Lennon as vice president of global offshore wind. He joins ABS with more than 20 years' energy industry experience with Fortune 500 and global energy companies, most recently
Leasing houses 'on the hook' for EU shipping carbon bill Lessors with a $66bn portfolio in China alone that funds hundreds of new ships count as beneficial owners who must...
Weekly Briefing: Container chaos continues | LNG offers temporary tanker distraction | Capes fly as Chinese property spooks market The last thing container shipping needed was the prospect of cyber disruption, but then given the continuing crises it would...
Freight surcharges will remain even after rates ease Surcharges give carriers a level of stability when freight rates fluctuate. But for shippers they are a black box that...
Safe Bulkers sheds another Chinese-built kamsarmax Vessel's sale for $23.7m follows disposal earlier this year of two other sister kamsarmaxes
P&I insurers feel impact of pool pressure Elevated combined ratios look like being the norm across the International Group for some time yet, as payouts and expenses...
No one single fuel will solve shipping's decarbonisation dilemma A carbon tax is needed to close the pricing gap and reward first-movers, says Mads Zacho, head of industry transition...
Wind-power system for shipping to get transatlantic test Airseas chief argues that with the cost of greener fuels likely to be much higher than existing fuels, reduced consumption...
Braemar sees strong results across all divisions Bouyant bulk and box markets, new interest in ship finance and Brexit-driven trade complexities see stars align for BSS, and...
CSSC yard wins 10-ship order linked to Seaspan and ONE The order signals a continued appetite for mid-sized containerships to replace older and dirtier tonnage and increase fleet flexibility
Daily Briefing Imports of LNG down 75% as UK energy crisis deepens | Call for market-based measures by 2025 to ensure shipping...
Atlas Air inks 747 freighter contract with FedEx FedEx doesn't operate any 747 freighters itself but is hiring Atlas Air to use jumbo jets on its behalf.
Call to action: Governments' commitment vital to decarbonize shipping by 2050 Green shipping technology and fuels are costly and could remain that way until economies of scale and innovation advance - something that many shipping companies...
Mammoth Freighters invests in aerospace firm to jump-start 777 conversions Mammoth Freighters plans to produce 777 passenger-to-freighter conversions. A new deal makes it more mammoth.
US Atlantic Coast 0.5%S marine fuel highest since January 2020 Very low sulfur fuel oil markets in the US rose with the US crude complex and international VLSFO indicators Sept. 22, with New York Harbor barges reaching a 21-month high.
US crude exports tick up on week, flows to Asia slow A fresh report from the US Energy Information Administration showed weekly US crude exports ticked up slightly over the week ended Sept. 17, but flows to Asia continued to slide, with the four-week moving average sinking to an over two-and-a-half year low, according to data from Kpler, a data intelligence firm.
OIL FUTURES: Crude pushes higher as lingering US Gulf shut-ins weigh on supply Crude futures pushed higher Sept. 22 amid tightened global supply outlooks.
US DATA: EIA says total US ULSD stocks draw to 17-week low Ultra low sulfur diesel stocks for all of the US drew for the fourth consecutive week, dropping to reach a 17-week low, US Energy Information Administration data showed Sept. 22.
West African gasoil at 28-month low amid FX crisis, high flat price The West African gasoil market has fallen to a 28-month low, weighed on by a currency crisis -- a shortage of dollars -- in Nigeria and the recent rise in flat prices, leading to supply building offshore.
INDIA DATA: August refinery run rate lowest in 2021 The average run rate for all categories of refineries in India fell to 87% in August, compared with 91% in the previous month, the oil ministry's latest survey showed Sept. 22, reflecting the lowest run rate of 2021.
Record gas prices having a 'material effect' on refining margins: Grangemouth chairman Record high natural gas prices in the UK are having a "material effect" on refining and petrochemical margins at Ineos' Grangemouth complex in Scotland, the site's chairman said Sept. 22.
RUSSIA DATA: August fuel oil exports rise 19.4% on year to 3.044 mil mt Exports were significantly higher year on year due to a global increase in demand for oil products.
AUSTRALIA DATA: July motor, jet fuel imports fall on COVID-19 demand woes Australia's gasoline imports fell to 3.17 million barrels in July, down 35.7% month on month, latest data from the Department of Industry, Science, Energy and Resources showed.
OIL FUTURES: Crude oil prices rise on falling inventories, supply constraints Data from the API released late Sept. 21 showed a 6.1 million barrels drawdown in US crude oil inventories in the week to Sept. 17, considerably more than analyst expectations of a 2.4 million-barrels decline in inventory.
Chinese collaboration sees carbon emissions offset from lifecycle of crude oil cargo Shanghai Environment and Energy Exchange on Sept. 22 granted certificates to Sinopec, China COSCO Shipping and China Eastern Airlines as proof that the volume of offsets applied against the cargo was sufficient to cover the expected GHG emissions from the entire lifecycle including oil extraction, transport, storage, shipping, refining, subsequent use and combustion.
Shell set to launch Singapore's first electric ferry Shell has awarded a contract to Singapore's Penguin International Limited to design, build and operate at least three fully-electric ferries.
Renewables, petrochemical integration way forward for European refiners "European refiners need to adapt, some need to close down, start biofuel production or hydrogen," Aker Chief Economist Torbjorn Kjus said
Gas-to-oil switching could prompt OPEC+ reaction: BP economist The OPEC+ alliance could be forced to react to the current spike in gas prices if it means a colder-than-average winter forces meaningful volumes of oil into the power generation sector, BP energy economist Jorge Leon said Sept. 22.
Rotterdam marine fuel oil crack spread reaches nine-week high On the supply front, traders have estimated the arrival of marine fuel oil cargoes in Singapore during October to be below 2 million mt, lower than September's estimated levels of 2.2 million-2.3 million mt.
Regulatory uncertainty of European biofuel legislation bad for investment: panel Another concern for the industry was the lack of definitive feedstocks in European legislation for advanced feedstocks, causing uncertainty in developing facilities in utilizing listed feedstocks.
Tokyo Bay 380 CST bunker premium to Singapore falls to 13-month low on weak demand Spot enquiries were weak, as many buyers were looking to negate the volatility in crude prices by buying on term basis rather than in the spot market, a bunker trader in Japan said.
Asian marine fuel 0.5% crack spread hits near 4-month high on tight supply, lower output On the supply front, traders surveyed by S&P Global Platts estimated arrival of low sulfur fuel oil cargoes in Singapore during October to be below 2 million mt, lower than September's estimated levels of 2.2-2.3 million mt.
Singapore Oct ex-wharf marine fuel 0.5%S term contracts done at $3-$4/mt, Sep term done at $4.25/mt Industry sources said that deals concluded for October-loading ex-wharf term contracts weakened on ample supply of the IMO-compliant bunker fuel grade at the port of Singapore, which was also affected by the tepid downstream demand for the delivered grade.
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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