Royal Caribbean: Full fleet back in service and positive operating cash flow Royal Caribbean Group (NYSE: RCL) today reported a second quarter 2022 net loss of $0.5 billion and loss per share of $2.05. That's the not unexpected bad news and investors looked beyond
Blount Boats delivers icebreaking buoy tender Delivered earlier this year by the Blount Boats shipyard in Warren, R.I., an icebreaking buoy tender ordered in July 2020, the M/V Eddie Somers, is now in service with the Maryland Department
MAN PrimeServ signs maintenance contract for LNG-fueled dredge MAN PrimeServ, the after-sales service brand of MAN Energy Solutions, has signed a long-term service agreement with Rouen, France, headquartered GIE Dragages-Ports covering the MAN 35/44 dual-fuel engines in the trailing suction
Tour the Sea Change ferry at Marine Log's FERRIES 2022 SWITCH Maritime's landmark Sea Change hydrogen-powered ferry project got a lot of attention at Marine Log's FERRIES 2021 held last November along the New York Harbor. This year, the conference heads to
Modern laker Mark W. Barker embarks on maiden voyage Nearly three years after the first cut of steel for the first Great Lakes freighter in nearly 40 years, the 639-foot modern laker M/V Mark W. Barker has completed sea trials and
Navios launches $100m buyback as Frangou spells out 'logic' of consolidation Acquisition of 36 bulkers also seen as offering 'migration path' to more carbon-efficient fleet
Chinese automaker BYD tipped to enter shipowning with large PCTC orders Move comes with rising interest from domestic companies to make a foray into long-haul ro-ro shipping, currently dominated by foreign...
Safe Bulkers profit comfortably beats Wall Street forecasts Company sustainability report says company has invested in efficient new bulker newbuildings 'ahead of' industry peers
Digitalisation will expand cargo insurance opportunities, says Marsh Future of insuring goods in transit increasingly shifting to logistic providers, offering cargo owners freedom to select shipments and to...
New wind propulsion technology launches Smart Green Shipping's FastRig sails are expected to reduce fuel consumption by 20% and will be fitted on to a...
Felixstowe strike action to add chaos to UK supply chains Supply chains are still reeling from the congestion of the past two years. Now industrial action at ports is adding...
Ferry labour shortage said to be 'inevitable and ongoing' The ferry industry's long-term success depends more than ever on well-trained people, and the sector's ability to drive support for...
First shipment of Ukraine grain on Friday will test political deal A shipment of grain is expected to leave Chornomorsk on Friday. However, the political test run comes ahead of crucial...
China launches crackdown on arbitrary charges in maritime China's Ministry of Transport is investigating the maritime sector, seeking a widespread crackdown on any 'arbitrary charges' not aligned to...
Costamare eyes new investments after record second quarter Adjusted net income more than doubled in latest quarter as charter rates for container vessels remain 'historically high'
Easing long-term box freight rates threatens contract renegotiations Shippers desperate to secure capacity have seen contract rates soar. But as spot rates ease and demand shows signs of...
Pacific Basin optimistic despite slowing global economy While the Hong Kong-based company expects minor bulk demand to moderate during the second half of the year, favourable supply...
Panama yet to report on Gulf Livestock 1 tragedy Panama is yet to publish a casualty report nearly two years after the Gulf Livestock 1 sunk off Japan with...
Does shipping now have too much data? Some shipowners have invested in software systems that are no longer supported. The best system is one that is used...
Hapag-Lloyd raises guidance again Hapag-Lloyd's lifted volumes are flat compared with last year, but freight rates are up 80%. Full-year earnings could now top...
Navios Partners agrees $835m takeover of parent dry bulk fleet Fleet merger completes a Navios Group fleet consolidation that began in earnest last year
Pilbara Ports Authority explores ammonia bunkering 'The potential of ammonia as a fuel to effectively decarbonise the maritime industry is clear; however questions remain on how...
NYK launches 100% biofuel supply trial for tugs Company believes the biofuel mix used can be a 'drop-in fuel' in the future
DSME strike has minimal impact on outstanding orders, say shipowners DSME sent a note six weeks ago to customers, declaring a force majeure. Last week, it sent a follow-up, stating...
Daily Briefing Release of seized Greek tankers hangs in the balance | Ukraine grain corridor readies first shipments | Oaktree awaits Court...
Record container ship traffic jam as backlog continues to build The drop in ships waiting off Southern California is deceiving. The number of ships off all three coasts is back to all-time highs.
Container shipping boom continues: Hapag-Lloyd hikes outlook (again) Shipping lines are still racking up extraordinary profits. Hapag-Lloyd forecasts continued strength in the second half.
INDIA DATA: Gasoil June exports fall 20% on month amid strong domestic demand India's gasoil exports fell 19.82% month on month to 2.45 million mt (608,913 b/d) in June, and were down 13.48% year on year, Petroleum Planning and Analysis Cell data showed July 28, as refineries already running above nameplate capacity channeled more cargoes into the domestic market to meet increasing demand.
Once an OPEC quota buster, Iraq struggles to raise oil output due to port limitations Iraq's crude oil production has stagnated in recent months, despite a rising quota under the OPEC+ accord, largely constrained by its inability to export more volumes through its southern port on the Persian Gulf.
Vitol starts bunkering operations at Dubai's Jebel Ali port, cruise terminal at Port Rashid Global trading firm Vitol has commenced bunkering operations at Dubai's Jebel Ali port and cruise terminal Port Rashid this month, the company said in a statement on its website July 28.
Diesel stocks in California down week on week California diesel stocks slipped last week despite stronger refiner output, according to state and federal government data.
TotalEnergies inks deal to import 300,000 mt of diesel into France from ADNOC TotalEnergies has signed a deal to import 300,000 mt of diesel from the UAE to cover potential supply shortages in France later this year, TotalEnergies CEO Patrick Pouyanne said July 28.
Valero says strong Q2 earnings reflect tight product supply, growing demand Valero Energy's Q2 earnings of $4.7 billion reflected growing demand and tight supply for refined products, which boosted margins to record levels, company executives said July 28.
ARA diesel, gasoil stocks fall nearly 2% to 1.474 mil mt: Insights Global Stocks of diesel and gasoil in the Amsterdam-Rotterdam-Antwerp hub fell 1.93% to 1.474 million mt in the week to July 28, according to data from market research company Insights Global.
OIL FUTURES: NYMEX crude settles lower but remains in well-worn range US crude futures fell July 28 but remained within a well-worn range as recession concerns were met with continued supply tightness.
TotalEnergies 'mobilizing' to diversify Europe's gas supplies as Q2 earnings surge TotalEnergies is hoping to boost its sources of European natural gas and produce more LNG in the coming months, the French energy major said July 28, after soaring gas prices and record-high refining margins sent its second-quarter earnings to an all-time high.
D'Amico expects years of strength for clean tankers, decreasing tonnage The bullish outlook follows a marked year-on-year improvement in the first half of the year.
Scorpio Tankers looks to EU Russian oil ban to boost clean tanker earnings A confluence of events has catalyzed a substantial increase in ton-mile demand beginning in March 2022, the clean product tanker company said in its Q2 interim financial report July 28.
Navios Maritime Partners acquires 36 dry bulk ships for low-carbon transition Navios Partners, which aims to achieve net-zero emissions by 2050, will seek to sell older, less fuel-efficiency ships when opportunities arise.
OIL MARKETS PODCAST: What's in store for Asian oil markets in H2? That said, some pockets in China are still facing lockdowns due to the COVID-19 pandemic and high oil prices are threatening to pull down demand in other consuming nations.
REFINERY NEWS: South Korea S-Oil crude run rate averages 93.8% in Q2 S-Oil recently upgraded its No. 1 residue hydro-desulfurization unit, or RHDS, to expand its capacity to 40,000 b/d, from 34,000 b/d previously, putting its total RHDS capacity at 166,000 b/d.
UAE DP World Q2 port cargo volume rises 3.5% on year, trade outlook positive
UAE Fujairah port stops bunkering after floods: traders
REFINERY NEWS: Finland Neste reports strong Q2 results on high margins Neste on April 29 condemned Moscow for its attack on Ukraine and said it was replacing Russian crude as a result.
Iraq and Oman stand to gain bunkering from Fujairah: traders Oman Oil Marketing Co. has recently received a license to supply marine fuel 0.5%S, gasoil, and high sulfur 380 grade at Oman Sohar port.
Poland to pursue suspension of EU ETS until reformed: climate minister Poland is advocating the suspension of the ETS while a plan is worked out and agreed to reform the system.
Easing LSFO inventories soften Hong Kong's Aug term ex-wharf bunker premiums Higher inflows of low sulfur fuel oil replenishment cargoes throughout July progressively lifted inventories, raising the availability of prompt bunker supplies, market sources said.
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