Maersk sees record earnings continuing into 2022 A.P. Moller - Maersk (Maersk) has delivered on the strong profits guidance it gave back in January. Today, it reported record earnings for 2021: Revenue was up 55% to $61.8 billion, EBITDA
Spill response vessel gets new role as pilot station JMS Naval Architects, Mystic, Conn., reports that the former oil spill response vessel OSRV Maine Responder has been converted to a pilot station vessel for United New York & New Jersey Sandy
Logistics provider Flexport interested in self-flying cargo jets Natilus is developing robot cargo jets in four sizes and has orders from five customers.
Shipping giant Maersk could rake in $50 billion over just two years COVID container boom continues: Maersk may earn even more this year than in record-trouncing 2021.
Georgia Ports: Adding capacity has 'broken the logjam in global logistics' The Port of Savannah has seen monthly port records for the past 18 months.
Maersk adds US final-mile network in $1.8B deal A.P. Moller - Maersk announced the $1.8 billion acquisition of U.S. forwarder Pilot Freight Services. The deal is the company's latest move in building out...
South Carolina Ports sees record volumes in January January marks the 11th consecutive month of year-over-year container records, according to SC Ports.
Grading Trump's China trade deal: F Donald Trump claimed his trade war got the Chinese to bend to U.S. will. But the "historic" trade deal he negotiated didn't turn out so...
Virgin Atlantic agrees first commercial SAF deal with Finlands Neste Virgin Atlantic has entered into a deal to receive sustainable aviation fuel from Finland's Neste
Essar on track to upgrade UK's Stanlow refinery to hydrogen-capable furnace next year Essar is on track to install and commission a more efficient hydrogen-capable furnace next year
FOB cargo values rise as newest terminal prepares first export US FOB Gulf Coast LNG cargo values edged up during the week ended Feb. 8
Crude prices turn higher after large US inventory draw highlights global supply tightness Crude futures rise after large US inventory draw highlights global supply tightness
Singapore-Fujairah 0.5%S marine fuel bunker spread narrows to near three-month low Limited availability of barges for downstream delivery of the International Maritime Organization-compliant bunker fuel is expected to persist throughout the week started Feb. 6, further exacerbated by bad weather conditions earlier in the week, market sources said.
Hong Kong 2021 fuel oil imports fall 3% to 37 mil barrels on weak demand Most of Hong Kong's fuel oil imports are consumed by its bunker fuel market, as it relies on coal and LNG for electricity, industry sources said.
Sri Lankan bunker suppliers rescind HSFO offers amid energy crunch To cope with the power shortage, upstream refineries like Ceylon Petroleum Corp. have directed available resources to the local oil-fired power generators, they added.
OIL FUTURES: Crude slips on positive geopolitical news Talks of Iranian oil exports returning to the market have led to a sentiment shift.
FUJAIRAH DATA: Oil product stocks extend gains as middle distillates surge 36% Stocks of heavy distillates and residues used for shipping and power generation fell 4.2% to 10.905 million barrels, a two-week low.
Hong Kong's bunker supply tightness to ease in H2 Feb with cargo arrival Hong Kong marine fuel 0.5%S supply tightened in H2 January, which was most likely due to lower imports, industry sources said.
OPEC+ falls further behind its oil output quotas, hampered by disruptions: Platts survey OPEC's 13 countries raised output by 150,000 b/d from December, pumping 28.19 million b/d of crude, while the nine non-OPEC partners, led by Russia, only managed to add a meager 10,000 b/d, producing 13.99 million b/d, the survey found.
RUSSIA DATA: 2021 oil product exports rise 1.8% on year Exports in December were 34.1% higher month on month as refinery maintenance had been completed and diesel exports surged.
East Mediterranean Hi-5 fuel oil spread hits 25-month high In the Greek port of Piraeus, the Hi-5 spread was assessed at a $251/mt premium for VLSFO, or 0.5% sulfur fuel oil, over HSFO, or 3.5%S product, on Feb. 8, S&P Global Platts data showed.
Maersk sees high operational costs for containers continuing through 2022 Higher fuel prices, against the backdrop of bullish crude markets, came alongside steeper container handling costs and increased inflationary pressure from operational congestion and bottlenecks, Maersk said in its 2021 full year report.
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