FMC beefs up its enforcement apparatus Flexing its muscle after enactment of the Ocean Shipping Reform Act, Federal Maritime Commission is reorganizing its investigative and prosecution functions by consolidating them into a newly created Bureau of Enforcement, Investigations,
Navy takes delivery of USNS John Lewis (T-AO 205) The Navy this week accepted delivery of the lead ship of its new class of fleet replenishment oilers, USNS John Lewis (T-AO 205). T-AO 205's delivery follows the completion of acceptance trials
World waits for Ukrainian grain exports to start moving As the President of Ukraine, Volodymyr Zelensky, observed the loading of Ukrainian grain onto a bulk carrier at the Chornomorsk Sea Trade Port hopes were high that exports could soon start moving.
Chouest vessel wins MSC contract with $38 million potential Edison Chouest Offshore (ECO) affiliate Alpha Marine Services LLC, Cut Off, La., has been awarded a $12,656,010 firm-fixed-price option (P00005) with reimbursable elements contract for the long-term charter of one U.S.-flagged Jones
Tanker rates recovery sustainable say owners, reporting record second-quarter profits Russia's invasion of Ukraine may have triggered the end of loss-making rates for the global tanker fleet but Scorpio Tankers...
The Lloyd's List Podcast: How shipping is managing the risk of lifting Ukraine grain The deal to allow the safe transport of grain out of the Ukraine by sea is an unprecedented agreement between...
Russian oil shipping sanctions are driving charter secrecy An evolving 'grey market' means fewer charters reported to market as cargoes concentrated in hands of Russian traders
Ascot launches all risks cargo and war coverage for Ukraine grain exports 'Ascot, and the London market, is delighted to be doing its part to catalyse this humanitarian venture,' says head of...
Demand for smaller-sized bulk carriers to get boost from Ukraine grain corridor The deal to bring back Ukrainian grains into the market will require a 'meaningful portion' of the geared fleet, says...
Don't be (quite so) cynical about ESG Do it because you clients want it and because your bankers demand it. And most of all, because it's the...
Surging freight rates push ONE to record profits in its first quarter Ocean Network Express saw profits climb on the back of higher freight rates and strong demand. But it has warned...
Containership charter rates hold up Ocean Network Express has renewed the charters of two Costamare-owned post-panamax boxships for a further three years at strong rates
Sinotrans chairman Wang Hong quits Meanwhile, former Cosco veteran Feng Boming has been named as a candidate for non-executive director
CMES sells old ro-ro ship as part of fleet renewal programme CMES said the vessel 'cannot satisfy its shipping demand and is too old to be retrofitted'
DSME sale still on the agenda, confirms KDB Korea Development Bank rebuffs claims that the bank could split the shipyard into defence and business units to facilitate a...
Spar Shipping biofuel trial shows 75% drop in emissions Trial was the first bio-bunkering undertaken by dry bulk carrier Spar Shipping and its shipmanagement partner Fleet Management
MOL forecasts firm capesize market on strong iron ore shipments MOL will continue monitoring the impact of semiconductor shortages, the Russia-Ukraine crisis, global inflation and production of completed cars, on...
Daily Briefing First shipment of Ukraine grain on Friday will test political deal | Chinese automaker BYD enters car-carrying market | China...
More passenger routes help sustain IAG's Q2 air cargo revenues Second-quarter cargo business softened on the margins for British Airways and its sister airlines but was still much better than before the pandemic.
Viewpoint: Flow of trade flashing more inflation despite decreased consumer demand "Peak season" is a term in maritime that really has lost all meaning. Since the pandemic began, the ports have been processing record volumes of...
Cargojet moving cheaper e-commerce goods, overstocked retail inventory Cargojet says it has two built-in defenses against an economic downturn: e-commerce and unstable cargo service at passenger airlines.
Singapore LSFO arbitrage inflow from West likely to fall in August: traders Singapore is expected to receive 1.4 million-1.9 million mt of low sulfur fuel oil from the West in August, compared with 1.5 million-2 million mt in July, fuel oil traders said in the week ending July 29.
PetroChina explores South Asia market, supplies first gasoil cargo to Pakistan PetroChina International delivered its first gasoil cargo to Pakistan recently, signaling the company's breakthrough in the South Asia product market, the company said on its WeChat account on late July 28.
Petrobras to ramp up refinery maintenance in H2 as run rates soar: director Petrobras will carry out maintenance projects at four separate refineries in the second half of 2022, but will delay work at a fifth refinery until early 2023, the Brazilian company's director for refining and natural gas said July 29.
Petrobras maintains import-parity prices in Brazil despite new directive: execs State-led oil company Petrobras reaffirmed its commitment to maintaining competitive fuel prices in Brazil, despite a move toward greater board oversight of pricing decisions amid an ongoing dispute over the company's import-parity policy, executives said July 29.
OIL FUTURES: Crude rallies as tight global supply overshadows rescission fears Crude oil futures settled higher July 29 as tight supply outlooks and a weaker US dollar overshadowed economic uncertainty and recession fears.
Mexico energy regulator drafts new rules for refined products distributors Mexico's Energy Regulatory Commission is considering new requirements for midstream companies that according to observers are only aimed at eroding competition to the state-owned Pemex.
OPEC+ delegates say increasing production no sure thing, despite US lobbying In the two weeks since US President Joe Biden met with Gulf leaders in Saudi Arabia, White House officials have voiced their optimism expectations, even, that OPEC and its allies will deliver an increase in crude oil production when they meet Aug. 3.
Phillips 66 sees strong diesel demand continuing as it approves Rodeo Renewed project in California Phillips 66 reported strong second-quarter refining results, aided by its higher-than-average diesel yield, as the company made the final decision to convert its Rodeo, California, refinery into a renewables fuel plant, company executives said on the July 29 Q2 results call.
Safe Bulkers bets on scrubbers in green shipping programs As of July 22, 18 of Safe Bulkers' 42 ships in operation were fitted with exhaust gas cleaning systems. The company said it will install scrubbers on another five vessels, all of which in the Capesize segment.
WFS Q2 marine fuel sales volumes edge up 6% on year Volumes in the first half totaled 9.6 million mt, up 8% year on year.
ARA fuel oil stocks drop 2.8% on week to 1.125 mil mt: Insights Global This is the first week in two weeks that the stocks have dropped.
OIL FUTURES: Crude recovers as supply disruptions outweigh recessionary risks The US economy contracted by an annual rate of 0.9% between April and June, against analysts' expectations of a modest 0.5% gain, data from the Commerce Department showed July 28. This marked two consecutive negative quarters of US growth.
BUNKERWOLRD: Bunkers markets see limited movement amid rangebound crude **Zhoushan bunker suppliers likely to intensify price competition **ARA ports only European locations with good HSFO supply **Weak demand on USGC and East coast
European VGO loadings down 38% in week to July 29 Russian loadings made up of 41% of the total in the latest week, amid continued self-sanctioning of Russian products, with market participants saying Asia was its main destination.
THAILAND DATA: June exports of heavy fuel oil, jet fuel rise on year The country exported 44,640 b/d of heavy fuel oil in June, up 60.2% year on year, mainly to Singapore and South Korea.
SINGAPORE DATA: Residual fuel stocks fall 9% on week as fuel oil imports plunge Singapore's fuel oil imports fell 62.9% week on week to 459,095 mt in the week to July 27.
JAPAN DATA: Refiners halt Russian crude shipments, reliance on Middle East increases The absence of shipment in June came as little surprise as Japanese refiners had been rapidly phasing out imports of Russian crude, with the country's top two refiners -- ENEOS and Idemitsu Kosan -- having already suspended new Russian crude oil import contracts, industry and trade sources in Tokyo and Chiba said.
Zhoushan's August term ex-wharf bunker premiums weaken amid rising stocks Compared to July, fewer cargoes of ex-wharf marine fuel 0.5%S were offered in the wider market for August-loading dates because the state-owned oil majors were more keen to reserve the bulk of their cargoes for their downstream bunker trading arms, market sources said.
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