Casco Bay Lines invites shipyard bids for hybrid ferry project The Casco Bay Island Transit District in Portland, Maine, was among ferry operators to be awarded funding in the FY 2021 round of Passenger Ferry Grants announced last week. The transit district,
MAN notches up more than 100 orders for its ME-GA engine The latest addition to MAN Energy Solutions' dual-fuel two stroke portfolio, the Otto-cycle MAN B&W ME-GA engine, has already won 100 orders since May 2021. Simultaneously, the company reports that the first
Shell signs up 45 LNG carriers for fuel-saving Kongsberg software After a successful year long trial on the Gaslog LNG carrier Methane Julia Louise, Shell has signed a five-year contract for the installation of a Kongsberg hydrodynamic optimization program on 45 of
ABB and Ballard mark hydrogen fuel cell milestone A partnership between ABB and fuel cell specialist Ballard Power Systems, Burnaby, B.C., has marked a maritime milestone. Their concept for a high-power hydrogen fuel cell capable of generating 3 megawatts (4,000
MARAD: $450 million available for Port Infrastructure Development grants The U.S. Department of Transportation's Maritime Administration (MARAD) today announced the availability of nearly $450 million in newly available grant funding for port-related projects through the Port Infrastructure Development Program (PIDP). The
McCarthy starts work on $57.3 million Texas port project McCarthy Building Companies has started work on Phase 2 of the Main Street Terminal 1 project at the Port of Beaumont in Texas. This follows approval by the port's Board of Commissioners
5 ships subject to U.S. Treasury Russia sanctions The U.S. Treasury's Office of Foreign Asset Controls (OFAC) has issued an extensive list of Russian entities and individuals subject to economic sanctions imposed in response to Russian actions in Ukraine. Among
US to impose sanctions on company building Nord Stream 2 pipeline Carolyn Kissane, director of the graduate programme at the New York University School of Professional Studies Center for Global Affairs...
US sanctions ship management firm and vessel for aiding Houthis Also designated was the 1996-built, 18,315 dwt Light Moon, a bulk carrier used to transport petroleum products illicitly
What an escalation in Russian sanctions would mean for shipping While industry consensus assumes Russia's energy infrastructure will not be targeted, any wider escalation in the Russia-Ukraine conflict could yet...
Has Putin torn up your contracts? War cancellation clauses could be powerful negotiating tools for owners who wish to refuse to call at Ukrainian or Russian...
Container contracts: those who hesitate pay the cost The normal seasonality of container shipping has taken a hammering. That includes the seasonal fall in spot rates following Chinese...
Gasoline leads oil products exports Gasoline is a solid bet for further strength down the line, says Vortexa chief economist David Wech, helping clean tanker...
Euroseas wins $32m charter for 'smallest, oldest' feeder The 25-year-old feeder is believed to have been chartered by Continental Shipping Line
Lauritzen bulker unit expects 'subdued' market Markets may seem more subdued this year although they are still solid thanks to limited fleet growth combined with strong...
Boxship owners use lull to head to drydocks High demand and reduced capacity due to congestion has meant every boxship that can sail is sailing. But delayed drydock...
Shipping lines urged to stop all plastic waste exports Hapag-Lloyd, Maersk, MSC, Hyundai Merchant Marine, Evergreen and Cosco have been cited among the largest shippers of plastic waste
Seadrill emerges from Chapter 11 bankruptcy Offshore drilling contractor Seadrill has emerged from a year in Chapter 11 after a Texas bankruptcy court approved its restructuring...
Box lines keep weather eye on Ukraine situation Container lines are drawing up contingency plans in case the situation in Ukraine deteriorates. The larger impact, however, will likely...
Ukraine risk for shipping hinges on sanctions escalation The initial tranche of sanctions in the wake of escalating Ukraine-Russia tension caused oil prices to spike, but failed to...
Daily Briefing Ukraine clash may give owners right to refuse orders | Russia's Ukraine incursion poses risks to gas flows | Felicity...
Felicity Ace still on fire and adrift in Atlantic Two salvage craft with firefighting and towing capability will assist the stricken vessel
Supply chain whack-a-mole: West Coast eases, East Coast worsens There are now more container ships waiting off East and Gulf Coast ports than there are off Los Angeles/Long Beach.
Lufthansa Cargo to introduce A321 freighter for new medium-haul network Lufthansa is complementing its transcontinental freighter fleet with some smaller aircraft.
'Collusion' drumbeat leads to multilateral probe of shipping lines Several trade and transport groups claim ocean carriers should lose special antitrust privileges and face stricter regulatory enforcement of shipping laws.
$450 million in port grants aimed at cutting consumer costs The Biden administration announces $450 million in port-expansion grants.
FOB Singapore gasoil soars to near 7.5-year high amid supply-side uncertainty FOB Singapore gasoil soared to more than a seven-year high at the Asian close Feb. 22, as escalating geopolitical tensions surrounding Ukraine added to supply-side fears in an already lean market.
Pakistan's refineries to channel excess FO stocks towards rising domestic power demand The Pakistan refining sector is set to halt plans to export fuel oil in anticipation of domestic utilities companies lifting the commodity to meet the rising demand for electricity during the summer season, an official in the Pakistan Ministry of Energy said Feb. 22.
Far East Russian crude premiums at multiyear highs on upbeat product cracks, wide EFS Cash premiums of Far East Russian crude oil grades hit multiyear highs in the April trading cycle as healthy margins and a wide Brent/Dubai spread supported demand from Northeast Asian refineries, traders told S&P Global Platts Feb. 23.
OIL FUTURES: Crude settles little changed as market eyes targeted Western sanctions against Russia Crude oil futures settled little changed Feb. 23 as the market weighed the supply implications of targeted western sanctions against Russia.
Biden orders US sanctions on Nord Stream 2 gas pipeline, corporate officers The US will impose sanctions on Nord Stream 2 AG, the company that built Russia's 55 Bcm/year gas pipeline to Germany, and its corporate officers, President Joe Biden said Feb. 23, a day after Germany halted certification of the project.
US sanctions commodity traders, oil shippers linked to Houthi finance network The US Treasury Department imposed sanctions Feb. 23 on several commodity traders and oil shippers it says created false documents for oil sales that funded the Houthi finance network.
CRUDE MOC: Sour complex edges lower as trade cycle nears completion Buying activity is likely over for most Asian refiners which in turn led to a fall in the sour crude complex in the last few days of the month, traders said.
IEA decries $40 billion methane leaks from energy system The 180 Bcm leaked would have been comfortably enough to ease today's price pressures, the report said.
FUJAIRAH DATA: Oil product stocks post record increase, rebounding from historic low Fujairah stocks of heavy residues, including fuel oil, rose 37% in the week to Feb. 21 to 10.452 million barrels.
Multiple problems must be solved for voluntary carbon market rollout: law firm Fragmented markets and a lack of standardization and transparency stand in the way of scaling global carbon markets and require the public and private sector to work together to find solutions, Ingrid York, partner at law firm White and Case, said at the International Energy Week forum Feb. 22.
Delivered 0.5%S bunker price in South Korea drops below Singapore on ample supply South Korea's delivered marine fuel 0.5%S prices are typically the highest in Asia. On average, it was $26.70/mt higher than Singapore in 2021, Platts data showed.
Fujairah Q1 delivered HSFO term premiums weaken on ample stockpiles Expectations of ample HSFO stockpiles for most of the first quarter has lowered the quarterly term contractual premiums.
JAPAN DATA: Oil product exports rise 6.4% on week to 3.3 mil barrels High sulfur fuel oil exports also rose 87.1% to 574,875 barrels over the same period though gasoline shipments declined 52.6% to 74,631 barrels.
FEATURE: Zhoushan bunker sales growth lags other China ports on higher costs The prices at other ports like Qingdao, Dalian and Tianjin got even more competitive than Zhoushan in 2021, which resulted in a rise in bunker sales, market sources said.
OIL MARKETS PODCAST: $100/b oil - Implications for Asia, the world and energy transition In this latest podcast, S&P Global Platts Sambit Mohanty, Rosemary Griffin and Kang Wu and Chairman of Beeland Interests, Inc. Jim Rogers talk about Asian oil demand recovery, the risks from Russia-Ukraine tensions, the potential return of Iranian oil, as well as the implications of surging oil prices on energy transition efforts.
REFINERY NEWS: New Zealand's Refinings NZ says work for transition to terminal 'well advanced' Marsden Point refinery will convert operations to an import-only fuel terminal Channel Infrastructure from April 1, 2022.
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