Cargill and Maersk Tankers partner to launch new bunker procurement service Maersk Tankers has entered a strategic partnership with one of the world's largest vessel charterers, agribusiness giant Cargill, that will see the two companies combine their bunker volumes. They will offer a
CIT sole lead arranger on $45 million Mangrove Partners deal CIT Group Inc. (NYSE: CIT) reports that its Maritime Finance business served as sole lead arranger on a $45 million financing for a portfolio of seven containerships. The financing was arranged on
OPINION: Time to address "sea blindness" on digital transformation By Martin Wallgren, Chief Information Officer at GAC Group Done right, digital transformation has boundless potential for shipping. But doing it right demands resilience, the right mindset and a clear focus on
Livanos family and Onassis Foundation plan to take GasLog private In what Chairman Peter Livanos calls "a transformative next step," Piraeus, Greece, based LNG carrier specialist GasLog Ltd. reports that it has entered into an agreement and plan of merger with BlackRock's
Project aims to develop world's first fully remote-controlled commercial tug The Maersk group's global towage operator Svitzer has signed an agreement with Kongsberg Maritime and ABS to develop RECOTUG, the world's first fully operational, and fully remotely controlled tugboat. Svitzer's contributions to
Perciavalle resigns as Austal USA President In a filing today, Australian shipbuilder Austal Limited (ASX:ASB) reports that the board of its Austal USA subsidiary has accepted the resignation of its president, Craig Perciavalle. Austal USA has appointed its
Grimaldi orders $500m con-ro ships at Hyundai Mipo Newbuildings will replace old vessels two years from now upon delivery and will be deployed on trades between North Europe...
Swiber gets nod from creditors for $200m deal Most banks exposed to Swiber may have written off their debts to the firm by now and are thus inclined...
Ship recycling in Indian Subcontinent region can help reduce carbon footprint For developing countries like India, steel is essential for growth and infrastructure development and ship recycling can be one of...
Addition of Singapore port authority bolsters ammonia-fueled tanker project Ammonia is seen as a leading future fuel as the maritime industry looks to meet its greenhouse gas emissions goals...
Reversing restrictive maritime trade policies would boost global economic recovery Reducing trade protectionism could see GDP gains for national economies increase by up to 3.4% according to a major new study...
Commodities traders and shipowners get their say on charter rates indices Although views are incorporated in the 'Principal Submission' process, they won't contribute to indices creation 'in any shape or form'...
Greek shipping non-profit's coronavirus aid nears $16m Syn-Enosis, an initiative of the Union of Greek Shipowners, has helped strengthen the nation's health system as it battles the...
Crude demand 'peaks in four years' on latest carbon-neutral policies Attention focuses on timing of the demand peak and whether there is any supply gap as investment dwindles in fossil...
Gard is early renewal round winner, as North admits tonnage loss 'We saw many owners shifting more, or all, of their fleet to Gard,' says chief underwriting officer Bjornar Andresen
Greek data analyst launches Poseidon Principles emissions index METIS also claims its Poseidon Principles Emissions Index could even help owners whose ships are outperforming AER to seek lower...
Maersk will consider carbon offsets in neutrality pursuit Following Maersk's pledge to have a ship running on carbon-neutral methanol by 2023, the company has said that it will...
Maersk turns away from Cosco crewing arm Maersk: 'It is always our priority to ensure the welfare and well-being of all our seafarers and provide them with...
Box shipping's bonanza masks regional variations Container volumes fell by only 1.2% in 2020, despite the pandemic. But on many trades, the recovery in the second...
Australia sets new safety checks for livestock carriers Australia is increasing its scrutiny of livestock carriers with a six-month safety campaign aimed at finding 'systemic issues with maintenance...
Cargill forms joint bunker business with Maersk Tankers The new service will initially procure bunker fuel for the two companies' combined fleet, before adding customers in the coming...
German owners optimistic for post-pandemic recovery Germany's shipowners are in a healthy position after the downturn that started in 2009. But several conditions need to be...
Maritime experts to examine seafarer exhaustion Following on from 'A Culture of Adjustment', this webinar brings together maritime safety heavyweights who all believe it is time...
Maran Gas orders at Samsung run to five LNG carriers Maran Gas orders five LNG carriers at Samsung on the back of a new relationship with Total, although four of...
DFDS and Maersk back carbon-neutral ammonia plant Ammonia is one of the leading contenders as a carbon-neutral power source for deepsea vessels. Maersk and DFDS have signed...
CMA CGM expands future fuels coalition Group sets out objectives for cross-industry development to make transport services less polluting. Green hydrogen and biofuels feature as zero-carbon...
Marine mutuals must consolidate to thrive in trying times With the renewals season drawing to a close, it is a timely moment to reflect on some of the challenges...
Daily Briefing Free to read: Seafarer abandonment cases continue to climb | Suicides at sea go uncounted as crew change crisis drags on...
Sembmarine braces for energy transition amid pandemic Clients have not cancelled any projects on Sembmarine's orderbook, which has diversified beyond projects in the offshore oil and gas...
GS Energy turns shipowner with $270m order for up to three VLCC newbuildings South Korean energy-solutions outfit inks scrubber-fitted crude carrier newbuildings against long-term charters to HMM
Handysizes may see second-best market 'since Vikings' Spot rates get no support from futures rates in backwardation, Njord Shipping's Henrik Ness said
Rob Bryngelson re-emerges in LNG with new venture WaveCrest Energy Former Excelerate Energy chief goes back to his roots with Macquarie Capital-backed company
Crude tankers not 'out of woods' for 2021 due to Chinese destocking and Iranian tonnage Chinese crude imports will probably be flat despite oil demand recovery, Braemar ACM's Anoop Singh says
Castor Initiative's first ammonia-fuelled tanker will set sail in 2025 High-profile coalition says two new partners have completed the eco-system to get demonstrator vessel in the water
Rauma yard shut down after 240 workers test positive A total of 800 staff quarantined as language barriers blamed
Why has Peter Livanos opted for a BlackRock buy-in at GasLog? Industry insiders pick over decision to take the company private again
Upbeat German shipowners declare an end to decade-long crisis Alfred Hartmann says owners are 'unscathed' and optimism is rising
Maersk and DFDS join huge green ammonia fuel project Danish shipping groups partner agricultural companies in $1bn production plant to create green ammonia from offshore wind
More insurance premium pain ahead for shipowners, says Gallagher After recent P&I increases, insurance broker warns that hull and machinery rates are set to increase further
d'Amico dry bulk CEO Lucio Bonaso dies at 72 Italian group's owners Cesare and Paolo d'Amico pay tribute to veteran who drove the development of the bulker fleet over 23 years
KGJS sells LR3 tanker at lower-than-expected price Norwegian shipowner keeps sistership on the sales block after nearly six-month effort to sell duo
Atlantic MR tanker market cools down with Texas refineries coming back online Charterers drop preliminary fixtures at high rates amid fewer US import requirements
Svitzer plans first fully operational, remotely controlled tugboat Towage giant joins Kongsberg and ABS to develop tug that can be operated remotely in Port of Copenhagen
Royal Caribbean suffers $5.8bn loss for 2020 due to Covid-19 The New York-listed owner's shares are up almost 11% as of Monday's midday trading
Harvey Gulf sues after PSV damaged in US Gulf hurricane Ship remains grounded, with damages still to be determined
Cargill launches bunker agent business with Maersk Tankers endorsement US trading giant will start new business with annual volume of 3.5m tonnes
Maersk Eindhoven to be repaired in Japan after box loss Surveyors and salvors checking vessel ahead of entry into Yokohama
Standard Club claims 95% P&I policy renewal success Insurer says almost all of its members renewed, despite rising rates
Carnival Corp plans stock offering in hunt for $1bn in cash US cruise giant has seen its shares rise 50% in the past three months on the back of improved sector prospects
Maran Gas takes Total's newbuilding tally to three Energy major has spread its risk against a trio of owners as it extends chartered fleet
Lloyd's of London leads way on rethinking post-Covid-19 workplace Could the most traditional of London's commercial institutions define a model for how maritime services work in the future?
Are boxship owners poised to repeat mistakes of the past? Newbuilds are needed but too many will again store up problems
Harvey Gulf sues after PSV damaged in US Gulf hurricane The ship is currently still grounded, with damages still to be determined
Semiramis Paliou takes top job as Diana Shipping reports slimmer losses Founder Simeon Palios will stay on as non-executive chairman
Euronav eyes 'younger tonnage' after $36m Chinese VLCC leaseback Hugo De Stoop says company achieved 'excellent' price for 2009-built Newton
Egypt's Damietta LNG plant ships first cargo in nine years Golar LNG vessel does the honours as country's second liquefaction facility comes back online
Hunter sells another modern VLCC for 'decent' price despite spot woes Arne Fredly-backed owner has now offloaded half of its modern scrubber-fitted fleet
US-listed bulker stocks stall after rampant start to 2021 Can Diana Shipping and Genco reclaim momentum as they roll out the earnings ball this week?
Eitzen looks to cautious chemical fleet expansion Axel Eitzen is moving cautiously to expand the Christiania Shipping fleet after a major refinancing gave him full control of the company
It's a mystery: Frontline's Lars Barstad baffled by lack of tanker scrapping Interim boss thinks recycling will pick up this year but does not subscribe to doomsday scenarios for older ships
Gibson says tanker recovery to be more 'in tune' with demand as inventories empty Shipbroker argues that freight market should be more responsive to improving fundamentals than previously
Broker Ifchor boosts dry bulk and S&P reach with new hires Dry cargo specialist adds Giando Dormio in Switzerland and Lasse Gandolfi in Oslo as expansion continues
Sembcorp Marine pins future on green winds blowing across shipping Green technologies are shipyard group's vision of a sustainable future
Australian to clampdown on substandard livestock carriers Maritime authorities say vessels will come under intense compliance spotlight in wake of recent casualties
Carnival Corp plans $1bn stock offering US cruise giant has seen its shares rise 50% in the last three months on the back of improved sector prospects
SK Shipping pair logs more than two years offhire as repairs roll on Redelivery dates mapped out, but court action over containment systems in London and Seoul continues
Another death reported as two more crews hit by mass poisonings Seafarers reported ill in Canada and Russia following fatal incident on Precious ship off Maldives
Kuehne + Nagel goes after China pharma logistics Kuehne + Nagel is on a mission to get bigger in Asia. Two deals this week in China are helping to make that possible.
JAXPORT positioned 'for great things to come' "There's tremendous opportunity for Florida-bound cargo," says JAXPORT CEO Eric Green during his State of the Port address Tuesday.
Shipping line CMA CGM's first air cargo destination: Chicago Container shipping line CMA CGM wants to be an airline too. Its new air cargo unit has identified Chicago as its first destination and is...
United Airlines sacrifices cargo capacity to replace grounded 777s United Airlines' cargo division has been riding high the past year. But it could lose some resources as the company realigns the fleet to make...
Brazil to require fuel sellers to detail price composition after price backlash Brazil's government issued a decree forcing service stations and fuel distributors to publish the composition of retail diesel and gasoline prices, delineating wholesale prices, state and federal taxes on receipts, according to the notice published Feb. 23 in the Federal Register.
ARA 0.1% gasoil barges hit 14-week low on inland refinery supply Premiums for 0.1% gasoil barges in the Amsterdam Rotterdam Antwerp trading hub have fallen to their lowest level since November as large volumes were being offered by inland German refineries at prices competitive with ARA imports, reducing demand for the latter, market source said.
INDIA DATA: Jan gasoil output rises 3% to 18-month high on higher refinery runs India's gasoil production in January climbed 3.06% from December to an 18-month high amid a rise in refinery run rates and improving margins.
Brazil oil workers, Bahia senator team to block Petrobras refinery sale Brazil's Oil Workers' Federation and Sen. Jaques Wagner of Bahia state teamed up to file a lawsuit aimed at disrupting the sale of a refinery operated by state-led Petrobras' in the state to Abu Dhabi's Mubadala Investment Co. for $1.65 billion, the federation, also known as FUP, said Feb. 22.
Panama Canal weighing additional compensation for canceled LNG bookings The Panama Canal Authority is considering seeking greater compensation for canceled bookings during peak seasonal demand periods, as it works to add a third daily reserved transit slot for LNG vessels to ease congestion, Administrator Ricaurte Vásquez Morales said in an interview Feb. 23.
OIL FUTURES: RBOB cracks rally as USGC refiners see extended outages Gasoline cracks rebounded Feb. 23 as US refiners continued to operate at reduced capacity in the wake of last week's deep freeze.
Gasum to supply LNG to ferry operator Wasaline, build new Finnish LNG terminal **Deal envisages biogas supply further **LNG may meet IMO goals for 2030 but not 2050
REFINERY NEWS: ExxonMobil's Rotterdam plant plans March works ExxonMobil's Rotterdam refinery is planning maintenance work in March, according to market sources. The duration or the extent of works was not confirmed.
Varo Energy expects 'enticing' refinery margins from H2 2021 **US cold snap a boon for European refiners **Gasoline strength driving down inventories **Jet fuel unlikely to full recover until 2023
Europe and Africa residual fuel -- key market indicators this week **LS products see open arbitrage window to Asia **Hi-5 reached 7-mo high
NWE high sulfur fuel oil crack hits nine-month low The Northwest European 3.5% sulfur fuel oil crack has fallen to its lowest since last May, with the reports of tight supply that had supported the grade last year now fewer and further between, sources said Feb. 23.
First wave of European hydrogen investment seen in 2022: Enagas **EU regulation likely ready by end-2022: Llarden **Enagas, Entso-e partners' input invited **First wave of projects seen likely 2024-26
Global oil demand likely to rebound to pre-COVID levels by end-2021: analysts **Still doubts on whether oil will be part of commodity supercycle **Jet fuel demand may not fully recover until at least 2022/23 **Recent price rally more to do with declining inventories than demand
Maersk Tankers, Cargill launch bunker procurement partnership **Analysis of combined data to lend competitive edge **Partnership will provide access to future fuels
Australian refiner Ampol sees rangebound fuel sales in 2021 in tough market **COVID-19 continues to weigh on fuel demand **Lytton refinery review to be completed by H1 2021
OIL FUTURES: Crude futures higher on stronger fundamentals, financial incentives Crude futures rose during European morning trading Feb. 23, as lingering US supply outages, OPEC+ cuts, and vaccine roll-outs improved the fundamental outlook while a strong backwardation and inflationary pressures provided financial support to prices, sources said.
INDIA DATA: January refinery run rate up on month at 103% Average capacity utilization for all categories of refineries in India rose to 103% in January from 99% in December, an oil ministry survey found, reflecting an improvement in domestic demand as Asia's third-largest economy returned to normalcy after a COVID-19 lockdown.
REFINERY NEWS: Sinopec Hainan plans to export 120,000 mt oil products in Feb State-owned Sinopec's 184,000 b/d Hainan Petrochemical refinery in southern China plans to export about 120,000 mt of refined oil products in February, up from 90,000 mt planned for January, a refinery source said Feb. 23.
Bunker markets in Panama see strong hikes on supply curbs from US Gulf Coast "Supply has tightened a lot and has triggered higher levels, especially for deliveries in the next 5-10 days," a market source said.
JAX LNG, TOTE complete first ship-to-ship LNG bunker operation of foreign-flagged vessel According to JAXPORT, 1,800 cu m of LNG was moved from the Clean Jacksonville.
Orient Overseas (International) Limited (OOIL), the subsidiary of the Chinese shipping group COSCO Shipping Holdings that operates containerized maritime transport services with ...
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