VIDEO: Berge Bulk to fit two vessels with rotor sails Hard sails or rotor sails? Singapore-based Berge Bulk is trying both options. Last month we reported that the company is to retrofit the 210,000 dwt, 2018-built bulk carrier Berge Olympus with four
Ulstein books order for up to 4 CSOVs Fosnavaag, Norway, headquartered Olympic Subsea ASA has placed a firm contract with Ulstein Verft for two offshore wind Construction Service Operation Vessels (CSOVs). Deliveries are planned for the spring and summer of
High fuel spreads boost scrubber benefits Owners with scrubbers are poised to benefit from lower costs and higher premiums for time charters
Russia says political expulsions compromise maritime safety A decision to expel Russia from the Paris Memorandum of Understanding on Port State Control is ultimately risking maritime safety standards...
Bunker suppliers struggle to meet demand for forward commitment While the shortage of bunker supply has generated demand from some shipowners and charterers to lock in volume through forward...
China oil bounce-back to offset diesel demand decline, says IEA Export volumes of refined products and crude from a 'resilient' Russia forecast to remain at or near pre-invasion levels, International...
Demand from shippers driving supply chain sustainability initiatives Lawyers highlight trend for big-name ocean carriers to future-proof multi-year contracts with clauses giving them broad ability to pass on...
Container equipment market faces 6m teu surplus Intensive ordering has led to the global container pool having more capacity than is required. But new regulations and a...
Seafarer safety is critical to the decarbonisation journey The push for cleaner, greener fuels should stimulate a root-and-branch discussion about safety on board. Blaming the seafarer for organisational...
Boxship charter rates continue to impress despite seasonal lull CMA CGM has fixed a 3,000 teu boxship for one year at $80,000 per day, while an 868 teu unit...
Cosco unit forecasts strong earnings despite $75.6m write-down Company orders $119.8m semi-submersible ship at a CSSC subsidiary shipyard
Bunker sales in Singapore down 9% in June The decline in bunker sales could be due to higher prices in Singapore, says a trader
Global piracy and robberies at near 30-year low Violence against crews continues, with 23 seafarers taken hostage and a further five threatened in the first half of 2022
Swire Projects agrees charters to expand MPP fleet Deal will take company's total fleet offering to 15 vessels by the end of the year
Daily Briefing Will shareholders pay the price for John Fredriksen's legacy-seeking strategy? | Euronav founders say legal merger with Frontline 'highly unlikely'...
EIA says West Coast gasoline stocks, production, imports fall
Residual fuel oil stocks build for third consecutive week
Total US crude stocks plummet to18-year low: EIA
NYMEX RBOB retreats as post-July 4 demand slump sends US gasoline stocks higher
Renewables' edge over fossil fuels will be 'unprecedented' in 2022, IRENA says Renewables received a boost last year as the levelized cost of electricity from solar PV fell 13% from 2020, onshore wind fell 15% and offshore wind fell 13%, IRENA said in the report.
Global refinery runs rise in June, but fail to keep up with demand: IEA Throughput in June rose by 600,000 b/d month on month to 79.7 million b/d, which was also 1.4 million b/d higher than April's seasonal low, but as refined product demand increased "one-and-a-half times as fast" between April and June, the gap between product supply and demand widened, the IEA said.
REFINERY NEWS ROUNDUP: Upgrades in Africa South Africa's decision to defer implementation of more stringent gasoil and gasoline specifications to 2027 could provide a lifeline to the country's refineries, according to downstream energy consultancy CITAC.
Saudi Arabia's cargo volume jumps 16.1% in June, container throughput rises 5.5% General cargo volume surged 55.7% over the same period to 790,500 mt,
IEA cuts oil demand growth estimates on 'deteriorating' economic environment In its monthly oil market report, the IEA highlighted weaker-than-expect demand from the US summer driving season and reduced its demand growth estimates by 100,000 b/d for both years to 1.7 million b/d and 2.1 million b/d, respectively.
OIL FUTURES: Prices rebound to steady at $100/b, high volatility expected to persist Although crude prices rebound as investors digested OPEC's bullish 2023 outlook, market participants expect high volatility over the short-term to persist due to an imbalance between paper and physical traders expectations.
European weekly fuel oil exports to Asia drop: Kpler That will lower the four-week rolling average to 270,206 mt, from 449,000 mt a week earlier.
Singapore bunker sales fall 8.7% on year to 3.75 mil mt Sales of low sulfur fuel oil declined 11% on the month to 2.35 million mt, and were down 14% on the year, mainly affected by the dearth of cargo availability, while high bunker prices and a lack of spot loading cargoes in the city-state also deterred some buyers.
EU ETS can be test case for global shipping carbon market: Cyprus government official There have been calls for the International Maritime Organization to implement a flat rate carbon levy.
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