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Source: ShippingWatch
July 27th 2017
From the office in Dubai, Christoffer Berg Lassen is reviewing the strategy at Danish bunker company Dan‑Bunkering...
Source: Passenger Ships
August 1st 2017
Royal Caribbean Cruises has beaten market expectations for the second quarter and saw its shares rise in pre-market trading...
Source: Maritime Executive
August 21st 2017
Maersk signed an agreement to sell Maersk Oil to Total for $7.45 billion on Monday...
Source: Maritime Professional
August 18th 2017
The Port of Los Angeles achieved record clean air gains while moving more cargo than ever, according to the Port’s 2016 Inventory of Air Emissions. Released today, the annual report also shows the Port surpassed its 2020 goal for reducing the health risk of emissions from port-related activity...
Source: Tradewinds News
August 21st 2017
Ten men reported to be missing and five injured following incident off Singapore...
Source: Tradewinds
August 21st 2017
Mitsui OSK Lines (MOL) has been found in breach of antitrust law in South Korea...
Source: Shippingwatch
August 22nd 2017
Four of the world’s largest container carriers like CMA CGM and Hapag-Lloyd are investing in the new trade platform New York Shipping Exchange. The project has received USD 13 million so far...
Source: Maritime Professional
August 23rd 2017
The Panama Canal today welcomed the largest capacity vessel to ever transit the Expanded Locks, the Neopanamax containership CMA CGM Theodore Roosevelt, which began its voyage from Asia, will be making stops along the U.S. East Coast...
Source: Maritime Executive
June 28th 2017
Shipping executives Anders Boman, Arild Iversen and Kai Kraass have been indicted with participating in a long-running price fixing conspiracy...
Source: World Maritime News
June 29th 2017
In an effort to make room for supersized container ships arriving through the Expanded Panama Canal, the Maryland Department of Transportation’s Maryland Port Administration (MDOT MPA) is expanding its cargo opportunities...
Source: Maritime Logistics
June 29th 2017
Global shipping is still feeling the effects of a cyber attack that hit A.P. Moller-Maersk two days ago, showing the scale of the damage a computer virus can unleash on the technology dependent and inter-connected industry...
Source: Opisnet
July 6th 2017
The Environmental Protection Agency’s (EPA) 2018 Renewable Volume Obligation (RVO) proposal for the Renewable Fuel Standard (RFS) has a lower total renewable volume than 2017...
Source: Trade Winds News
July 9th 2017
Much-hyped merger becomes official with cash offer confirmed...
Source: Maritime Logistics
July 10th 2017
After two weeks’ intensive debate in the International Maritime Organization (IMO), steps have been taken towards specific measures to reduce shipping’s greenhouse gas emissions, says a statement from Danish Maritime Authority (DMA)...
Source: Maritime Executive
July 13th 2017
The Port of Virginia announced its annual container volume numbers on Tuesday, and the results are strong: 2.7 million TEU, a port record and the fourth consecutive fiscal year of growth. The port also handled 230,000 TEU in June, an increase of seven percent over the same period last year...
Source: ShippingWatch
July 13th 2017
Today, two and a half years after the collapse of Danish company OW Bunker, Denmark’s Attorney General’s office for fraud and economic crimes has revealed that it is charging a former executive of a Singaporean subsidiary of OW Bunker with committing fraud...
Source: ShippingWatch
July 12th 2017
Dan-Bunkering can join the long line of bunker companies which have booked growth in recent months...
Source: Maritime Executive
June 6th 2017
Polaris Shipping has moved to secure replacement tonnage for some of its aging very large ore carriers (VLOCs), at least three of which have been found to have cracks in their hulls...
Source: World Maritime News
June 5th 2017
In an effort to make room for supersized container ships arriving through the Expanded Panama Canal, the Maryland Department of Transportation’s Maryland Port Administration (MDOT MPA) is expanding its cargo opportunities...
Source: Trade Winds News
June 7th 2017
ExxonMobil has sent out a tender to time charter a medium-range (MR) tanker...
Source: OPIS
June 9th 2017
Some biofuel industry sources are expecting the Environmental Protection Agency to issue the preliminary 2018 renewable volume obligations (RVO) under the Renewable Fuel Standard (RFS) later today or early next week...
Source: Lloyd’s List
June 12th 2017
MAERSK Line, the world’s largest shipping line by capacity, has reopened space booking for cargo to and from Qatar via a transhipment service over to the port of Salalah in Oman...
Source: Tradewinds
June 13th 2017
Kirby Corp has expanded its non-shipping activities with the $710m purchase of Stewart & Stevenson, a manufacturer and supplier for several industries including marine and energy...
Source: Maritime Logistics
June 6th 2017
Port Canaveral has been awarded Green Marine environmental certification in recognition of its environmental leadership and management...
Source: Finance
June 15th 2017
Digital trading and broking platforms won’t be replacing humans anytime soon, a group of leading Greek shipbrokers said in a conference on Thursday...
Source: NEWS
June 15th 2017
A Louisiana fuel distributor has lodged a lawsuit against Kirby Corp and Bisso Towboat over a casualty on the Mississippi River...
Source: Maritime Executive
June 15th 2017
Authorities have now determined that there is no existing threat to the Port of Charleston in the U.S. after earlier fears that a container on the Maersk Memphis may have contained a dirty bomb...
Source: Casulaties
June 15th 2017
Scammers hit a Malaysia-based company after embedding Spyware in its computers. A bunker company in Malaysia claims to have been the victim of scammers who extracted private information and charged the company $1m...
Source: OPIS
June 21st 2017
Macquarie Capital said that it has revised down its Brent and WTI crude target prices to reflect the growing U.S. shale output and lower cost of production...
Source: Great Lakes
January 16th 2017
After opening the 2016 season on March 21, the St. Lawrence Seaway closed on December 31, enjoying a navigation season of 286 days. This performance ties the record first established in 2008 and matched in 2013 for the longest navigation season...
Source: Moore Stephens
January 5th 2017
Wednesday, in the release of its quarterly Bottom Line newsletter, said “shipping will find a way” through another tough year in 2017...
Source: Ship & Bunker
January 12th 2017
A U.S. court decision Monday dealt another blow to physical suppliers‘ efforts to recover unpaid bunker bills as part of the ongoing fallout from the 2014 collapse of OW Bunker...
Source: Maritime Executive
January 12th 2017
At least three of the largest American container ports posted record-setting volumes in 2016. Full-year results are not yet in from all of the top ten port authorities, but early numbers suggest strong volumes on the East and West coasts...
Source: Seeking Alpha
January 23rd 2017
The largest increase in the rig count in almost four years. Almost all of the rigs added were horizontal rigs. A lot of activity in the Permian. A lot of activity in Cana Woodford. The natural gas rig count also increased materially...
Source: Lloyd’s List
January 18th 2017
The Panama Canal’s impact on liquefied natural gas shipping is definitely being felt, with LNG transits from the US to Asia via the waterway rising to an average of 14 per month from five last July...
Source: Lloyd’s List
January 6th 2017
New York- and Euronext-listed Euronav (news, data) said that the credit facility would refinance the $500m senior secured credit facility dated March 25, 2014, and maturing on January 31, 2023, carrying a rate of Libor plus a margin of 2.25%...
Source: Tradewinds
January 11th 2017
OPEC production cuts and continued fleet growth have led Seaport Global to pull down its tanker rate expectations for 2017...
Source: World Maritime News
January 23rd 2017
The Georgia Ports Authority (GPA) set a new monthly record by moving 292,172 TEUs during December 2016, an increase of 12.3 percent compared to the same month last year...
Source: World Maritime News
January 19th 2017
NYSE-listed Scorpio Tankers has received commitments for a loan facility of up to USD 172 million from a group of financial institutions which will be used to finance up to 60% of the market value of eight MR product tankers under construction at Hyundai Mipo Dockyard in South Korea...
Source: Maritime Executive
January 20th 2017
The International Tanker Owners Pollution Federation (ITOPF) reports that the downward trend in oil spills from tankers is continuing. The average number of large oil spills from tankers, i.e. greater than 700 tons, has progressively reduced, and since 2010 averages 1.7 per year...
Source: Work Boat
December 2nd 2016
The Optimarin AS ballast water management system officially became the first Coast Guard-approved method for U.S. waters Friday...
Source: CBS News
December 2nd 2016
Carnival’s Princess Cruises will pay a $40 million fine for dumping oily waste into the ocean – the largest penalty of its kind in history. The company also pleaded guilty to seven felony charges...
Source: Ship & Bunker
December 5th 2016
Future bunker regulations will not make exhaust gas scrubbers irrelevant, but rather, they will “catch up with what scrubbers are already doing now,” Nick Confuorto, President and COO of CR Ocean Engineering (CROE), has told Ship & Bunker...
Source: Tradewinds
December 1st 2016
The dry bulk market is enjoying a strong fourth quarter as spot voyage rates remain near highs rarely seen this year. But bulker owners are showing caution over the upcoming seasonal downturn by fixing more ships on short-term period charters instead of spot voyages...
Source: Maritime Executive
December 6th 2016
Bulker operators are seeing solid improvements after the record low day rates reached earlier this year: the Baltic Dry Index stood at nearly 1,200 on Tuesday, a fourfold increase over the levels reached in February 2016...
Source: Lloyd’s List
December 7th 2016
The Alliance has made upgrades to its upcoming Mediterranean to North America east coast offering, with a number of ports in Spain allocated to another service...
Source: Maritime Executive
December 13th 2016
The Block Island Wind Farm is now operational, the first offshore wind farm to deliver energy to the American power grid...
Source: Lloyd’s List
December 14th 2016
Tokyo Marine Asia (Singapore) announced that it would be merging the business of its tanker subsidiary Milestone Chemical Tankers with its own business as of January 1, 2017...
Source: Lloyd’s List
December 14th 2016
Major US container ports are expected to see a 3.2% rise in retail import box volumes in December to 1.48m teu compared with the year-ago month, as retailers bring in their final batch of merchandise shipments to meet demand for the year-end holiday season...
Source: Maritime Executive
December 15th 2016
On December 13, Florida Governor Rick Scott celebrated a milestone for the state’s seaports: since 2012, Florida’s 15 major ports have created more than 200,000 jobs, according to a new study by the Florida Ports Council...
Source: Maritime Executive
December 20th 2016
On Tuesday, the Panama Canal received the largest capacity vessel to-date to transit the expanded Locks – Hapag-Lloyd’s Valparaíso Express. The 10,589 TEU Neopanamax container ship was specifically built to take advantage of the greater capacity offered by the expanded Panama Canal...
Source: Ship and Bunker
November 1st 2016
Following news that the 70th session of the Marine Environment Protection Committee(MEPC) last week agreed to implement a global 0.5 percent cap on sulfur content in marine fuel from 2020, the European Community Shipowners’ Associations (ECSA) has joined the call for the International Maritime Organization (IMO) to ensure a “level playing field” when the new rules come into effect...
Source: Maritime Executive
November 1st 2016
On Monday, the Panama Canal Authority (ACP) unveiled a new recognition program for clean operators that will help them to get ahead of the pack for transit bookings...
Source: Ship and Bunker
November 3rd 2016
Shore power at the Brooklyn Cruise Terminal appears to be almost open for regular operation after months of delays...
Source: Maritime Executive
November 16th 2016
Stolt-Nielsen Limited has received unconditional Competition Authority approvals of its plans to acquire the chemical tanker operations of Jo Tankers. The acquisition is expected to be finalized before the end of November...
Source: Ship and Bunker
November 18th 2016
Having broken the 1,000 point mark only a week ago, the Baltic Dry Index (BDI) gained 86 points Thursday to reach a new 23-month high of 1,231...
Source: Platts
November 22nd 2016
The International Maritime Organization’s new rules on ballast water management next year will change the supply dynamics of the shipping industry as ship-owners scrap some vessels to comply with the regulations, Claus Beiersdorfer, sales director at global technology provider SKF said in a recent interview...
Source: Maritime Executive
November 21st 2016
South Korea’s Hanjin Shipping said on Tuesday it decided to sell part of its container ship business to Korea Line Corp for 37 billion Korean won ($31.38 million)...
Source: Lloyd’s List
November 22nd 2016
Ship-owners and operators are likely to turn to using marine gasoil to meet the lower global sulphur cap due to come into effect in 2020, speakers at the Asian Logistics and Maritime Conference in Hong Kong said...
Source: Maritime Executive
November 28th 2016
Sales of second-hand ships used to haul commodities such as iron ore, coal, grain and fertilizer have hit a seven-year high in 2016 as the industry creeps out of an eight-year downturn that has sunk several fleets of shippers...
Source: World Maritime News
November 23rd 2016
An investment of over USD 300 million, which will be injected in the infrastructure of Pennsylvania’s Port of Philadelphia, is set to double the port’s container capacity by 2020...
Source: Ship and Bunker
October 24th 2016
Physical bunker suppliers in the U.S. struggling to recover outstanding OW Bunker related debts were given a glimmer of hope Friday from a ruling by Judge Forrest of the Southern District of New York...
Source: Reuters
October 24th 2016
U.S. oil and gas drillers are reporting the biggest and most sustained upturn since oil prices began slumping in the middle of 2014...
Source: Lloyd’s List
October 19th 2016
US shale energy production is set to rebound as oil prices recover, according to some industry executives, a mostly positive development for tanker markets...
Source: Lloyd’s List
October 5th 2016
Dry bulk owners are seeing the light at the end of a very long, dark tunnel...
Source: Maritime Executive
October 23rd 2016
U.S. gross crude oil imports increased by 528,000 barrels per day (b/d), or seven percent, during the first half of 2016 compared to the first half of 2015. This increase reverses a multiyear trend of decreasing U.S. crude oil imports as a result of increasing U.S. production...
Source: Maritime Executive
October 22nd 2016
The proposed OCEAN Alliance of COSCO, CMA CGM, APL, Evergreen and OOCL received final approval from the U.S. Federal Maritime Commission on Friday, putting it one step closer to its planned startup next April...
Source: World Maritime News
October 20th 2016
The Panama Canal has handled 330.7 million tons of goods in fiscal year 2016, the third highest amount ever recorded, contributed by strong container traffic, newly introduced segments and the expanded canal...
Source: World Maritime News
October 14th 2016
Viking Ocean Cruises, part of Viking Cruises, has welcomed its first cruise ship, Viking Star, into the New York harbor as part of its inaugural North American voyage...
Source: Journal of Commerce
October 20th 2016
The Hanjin Bremerhaven, just released from arrest outside the Panama Canal, is expected to stop at the Port of New York and New Jersey on Friday, the penultimate Hanjin Shipping vessel scheduled to berth at the port with cargo stranded by the container line’s financial disarray...
Source: Dredging Today
October 20th 2016
The Board of Directors of the Cleveland-Cuyahoga County Port Authority (Port of Cleveland) last week approved acceptance of grants totaling over $180,000 to advance three critical infrastructure projects...
Source: Marine Log
September 27th 2016
Kirby Inland Marine L.P. has agreed to pay $4.9 million in Clean Water Act civil penalties and to implement fleet-wide operational improvements to settle claims stemming from a 4,000-barrel (168,000-gallon) oil spill in the Houston Ship Channel in March 2014, the Department of Justice and the Coast Guard announced today...
Source: Lloyd’s List
September 16th 2016
A new twist has unfolded in the Hanjin bankruptcy story, with a US Federal Maritime Commissioner noting that a Hanjin vessel scheduled to dock at New York/New Jersey will likely be unable to leave if it goes ahead with the stop...
Source: Maritime Executive
September 20th 2016
The South Korean court overseeing Hanjin Shipping’s receivership said a rehabilitation plan is “realistically impossible” if top priority debt such as backlogged charter fees exceed one trillion won ($896 million), South Korea’s Yonhap newswire reported on Wednesday...
Source: Ship Watching
September 22nd 2016
A well-known Danish bunker company, currently under court-ordered anonymity, has on Thursday at the court in Kolding, Denmark, been found guilty of perpetrating fraud against one of its customers, Malaysian Pacific Inter-Link...
Source: Lloyd’s List
September 2nd 2016
APM Terminals is investing $70m in Port Elizabeth to allow larger ships to call after the Bayonne Bridge raising project is finished next year...
Source: World Maritime News
September 21st 2016
The Port of Boston has received a USD 107.5 million commitment which will support the construction of a new berth and the procurement of three new cranes to handle larger ships at the port’s Conley Terminal, according to the Massachusetts Port Authority (Massport)...
Source: World Maritime News
September 19th 2016
The Georgia Ports Authority achieved an August record of 330,846 twenty-foot equivalent container units, marking an increase of 5 percent compared to August 2015...
Source: World Maritime News
September 13th 2016
More than 230 cruise ships are expected to transit the Panama Canal during the 2016-2017 cruise seasons, which begins on October 4, 2016 with the transit of the Coral Princess, on a voyage from Los Angeles, California, to the U.S. East Coast...
Source: World Maritime News
September 20th 2016
Global marine underwriting premiums in 2015 amounted to USD 29.9 billion, down by 10.5% compared to the 2014 figure, and the trend of uncertainty is expected to continue, the International Union of Marine Insurance (IUMI) has warned...
Source: Maritime Executive
September 20th 2016
An unprecedented pattern of extinction in the oceans today that selectively targets large-bodied animals over smaller creatures is likely driven by human fishing, according to a new Stanford-led study...
Source: Maritime Executive
September 19th 2016
Eastern Shipbuilding, Bath Iron Works and Bollinger are still reacting to the news released Thursday that Eastern – a Florida yard with a long history in commercial shipbuilding – has won a multi-billion-dollar contract for the first nine hulls in a 25-vessel series of Offshore Patrol Cutters (OPCs). The contract calls for the lead ship and options for eight more, worth up to $2.4 billion in total. If Eastern ends up building all 25, the contract value will exceed $10 billion – the Coast Guard’s largest acquisition ever...
Source: Maritime Executive
September 15th 2016
The U.S. Senate passed the S.2848, the Water Resources Development Act (WRDA) of 2016 by a vote of 95 to 3 on Thursday...
Source: Lloyd’s List
August 2nd 2016
THE US Transportation Secretary Anthony Foxx has awarded a total of nearly $500m funding for the fiscal year 2016 Transportation Investment Generating Economic Recovery (Tiger) grants, including port-related projects...
Source: Maritime Executive
August 8th 2016
U.S. Senators Charles Schumer and Kirsten Gillibrand have called on the Coast Guard to solicit more input from the public before creating designated barge anchorages on the Hudson River – a scenic region better known for tourism and riverfront estates than for maritime trade...
Source: Maritime Executive
August 9th 2016
Massachusetts Governor Charlie Baker signed a new energy law on Monday designed to boost the U.S. offshore wind industry. The legislation, which was overwhelmingly passed last week by the state legislature, includes the nation’s biggest commitment to offshore wind energy, requiring utilities to procure a combined 1,600 megawatts (MW) of electricity from offshore wind farms in a little over 10 years...
Source: Maritime Executive
August 13th 2016
The delivery of two super post-Panamax cranes at South Carolina Ports Authority (SCPA) on Friday marked a significant milestone in the port’s big ship readiness, to be followed in the coming years by the completion of the Wando Welch wharf project and harbor deepening to 52 feet...
Source: BMI Research
August 16th 2016
BMI Research (BMI) Monday said that the port of New York-New Jersey will face a “major challenge" in the short term in taking advantage of an increase in traffic that was long expected to result from the recently opened expanded Panama Canal...
Source: Maritime Executive
August 16th 2016
Port Everglades, Florida has signed a five-year contract extension with Carnival Corporation, the world’s largest cruise line, for the preferential use of five terminals. The agreement extends an existing contract out to 2030 and builds on Carnival’s long-term presence at the Florida port...
Source: Maritime Executive
August 16th 2016
Deepwater Wind’s five-turbine, 30MW wind project off the coast of Block Island will soon be America’s first completed offshore wind farm – even sooner than planned...
Source: Maritime Executive
August 4th 2016
The United States is currently contemplating the acquisition of replacement heavy icebreakers. Unlike one would gather from domestic discussions, the U.S. is not alone. The global fleet of about 110 icebreakers is aging rapidly, and other Western nations with icebreaking needs such as Canada, Finland and Sweden, have begun icebreaker renewal programs. Capacity needs exist also in many other countries active in polar areas...
Source: World Maritime News
August 15th 2016
As the container industry revenues are contracting faster than carriers can cut costs, the shipping consultancy Drewry said that prolonged losses in the container shipping industry are likely to lead to more container merger and acquisition activity or more industry consolidation among carriers...
Source: World Maritime News
August 12th 2016
Two senior engineering officers employed by an Italian shipping company admitted that they deliberately concealed the discharge of oily waste from oil tanker Cielo di Milano into the sea, according to the US Department of Justice...
Source: World Maritime News
August 10th 2016
An increase in cargo import cargo volume at major retail container ports in the US is expected in August as the seasonal peak approaches, the National Retail Federation (NRF) said in its Global Port Tracker report...
Source: Lloyd’s List
July 20th 2016
FITCH Ratings suggested that US ports business will experience modest growth for 2016, mirroring the country’s annual gross domestic product growth rate, which is forecast to be less than 2% for the year...
Source: World Maritime News
July 15th 2016
The Maritime Administration (MARAD), together with the U.S. Coast Guard and the Federal Energy Regulatory Commission (FERC), has issued a call for comments on the draft environmental impact statement (DEIS) for the Delfin LNG deepwater port project...
Source: World Maritime News
July 14th 2016
Four ballast water treatment system manufacturers have received the final agency action from the United States Coast Guard denying their appeals to use an alternative testing method for Coast Guard type approval of their ultra-violet (UV)-based ballast water management systems (BWMS)...
Source: World Maritime News
July 15th 2016
US-based infrastructure investment fund manager Highstar Capital is considering the sale of its marine terminal operator and stevedore Ports America, Bloomberg cited sources close to the matter...
Source: World Maritime News
July 13th 2016
The Panama Canal this month regained the majority share in terms of overall container transport capacity on all-water routes between the Far East and the US East Coast, according to Alphaliner...
Source: World Maritime News
July 13th 2016
A number of companies have decided to join forces in a new cross-industry initiative called SEA\LNG, to accelerate the use of liquefied natural gas (LNG) as a marine fuel...
Source: World Maritime News
July 12th 2016
Poor container shipping freight levels and the countdown to the reformation of alliances in March of 2017 have pre-empted any mass invasion of new capacity in the Asia-East Coast North America (ECNA) trade, thus further drift of cargo from a West Coast routing to an East Coast carriage will be gradual, according to shipping consultancy Drewry...
Source: World Maritime News
July 1st 2016
US ports could benefit from Volkswagen’s (VW) settlement with the US federal government and the California Air Resources Board (CARB) under which the company is obliged to pay billions to mitigate pollution and invest in zero-emission vehicle technology, according to the American Association of Port Authorities (AAPA)...
Source: Maritime Executive
July 27th 2016
International Labor Organization (ILO) member States have confirmed the amendments to the Maritime Labor Convention ensuring better protection to seafarers and their families in case of abandonment, death, and long-term disability...
Source: Maritime Executive
July 27th 2016
The Bureau of Safety and Environmental Enforcement (BSEE) published the final version of the rule Oil and Gas and Sulfur Operations in the Outer Continental Shelf-Blowout Preventer Systems and Well Control on April 29, with an implementation date set for 90 days following publication...
Source: Maritime Executive
July 27th 2016
Rising sea levels due to hurricanes and tidal flooding intensified by climate change will put military bases along the U.S. East Coast and Gulf Coast at risk, according to a report released on Wednesday...
Source: Maritime Executive
July 17th 2016
On July 7, a joint hearing was held of the Subcommittee on Coast Guard and Maritime Transportation and the Subcommittee on Border and Maritime Security of the Committee on Homeland Security, regarding the examination of “the Maritime Nuclear Smuggling Threat and other Port Security and Smuggling Risks in the U.S.”...
Source: Maritime Executive
July 5th 2016
Ice is extremely dangerous to ships. In northern climates, especially in the Baltic and North Seas, history is replete with accidents and even total loss incidents due to ice...
Source: Maritime Executive
June 26th 2016
The Panama Canal accounts for roughly five percent of world sea trade, and the expanded Panama Canal is estimated to generate a three percent increase in cargo volumes transiting the Canal...
Source: Marine Link
June 22nd 2016
The Interlake Steamship Company’s M/V Lee A. Tregurtha sailed today from Fincantieri Bay Shipbuilding Company in Sturgeon Bay, Wisc., becoming the shipper’s third self-unloading bulk carrier to be outfitted with exhaust gas scrubbers...
Source: Tanker Shipping
June 22nd 2016
Overall confidence levels in the shipping industry rose slightly in the three months to May 2016, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens...
Source: Maritime Executive
June 16th 2016
The Jacksonville Port Authority (JAXPORT) has announced that three newly constructed 100-gauge cranes are on their way from Shanghai, carried aboard the heavy lift ship Zhen Hua 14. They are expected to arrive in August...
Source: Lloyd’s List
June 13th 2016
The Port Authority of New York and New Jersey confirmed the port will be able to handle 14,000 teu vessels toward the end of 2017, in response to media reports questioning the ports’ ability to do so...
Source: Maritime Executive
June 2nd 2016
U.S. Secretary of the Interior Sally Jewell has officially initiated plans for an offshore wind energy lease sale for 81,130 acres offshore from New York...
Source: Maritime Executive
June 2nd 2016
Energy firm Kinder Morgan announced Thursday that it has received approval from the Federal Energy Regulatory Commission for its proposed Elba Island LNG export plant near Savannah, Georgia...
Source: Maritime Executive
June 27th 2016
The Lexington Institute, a nonpartisan, nonprofit think tank, has released a study stressing the critical role that the American maritime industry and the Jones Act play in strengthening U.S. border security and helping to prevent international terrorism...
Source: Maritime Executive
June 25th 2016
Britain’s looming exit from the European Union is another huge setback for negotiations on a massive U.S.-E.U. free trade deal that were already stalled by deeply entrenched differences and growing anti-trade sentiment on both sides of the Atlantic...
Source: Lloyd’s List
May 19th 2016
DELAWARE state-owned Port of Wilmington needs more than $300m for infrastructure development to stay competitive, with private capital required to fund this growth due to budget constraints...
Source: Lloyd’s List
May 19th 2016
Delegated and dignitaries, including form US president Jimmy Carter, will descend on Panama at the end of June for what will mark a major change in the patterns of world trade, when the Panama Canal formally opens its new locks...
Source: Reefer Stocks
May 16th 2016
Transportation development and new technologies are impacting the trade of perishable goods in refrigerated containers, known as reefers. With an increase in consumption of these goods, reefer trade is expected to grow exponentially in the coming years...
Source: Dredging Today
May 16th 2016
The U.S. Army Corps of Engineers, New York District, together with the New York and New Jersey Harbor, is about to begin the final phase of a $2.1 billion dredging project that will deepen the port’s channels to a depth of 50 feet...
Source: Maritime Executive
May 23rd 2016
The Merchant Marines predate both the U.S. Coast Guard (1790) and the U.S. Navy (1797), but as the industry celebrates National Maritime Day in 2016, all is not well...
Source: Maritime Executive
May 18th 2016
During recent discussions at the IMO (Marine Environment Protection Committee, Session 69), the challenges associated with testing ballast water treatment systems were discussed at great length...
Source: Maritime Executive
May 23rd 2016
The U.S. Defense Advanced Research Projects Agency (DARPA) is developing an undersea navigation system aimed at enhancing the U.S. Navy’s ability to provide precise, global positioning throughout the ocean basins...
Source: Maritime Executive
May 21st 2016
The U.S. Coast Guard released its 2015 Recreational Boating Statistics report last Tuesday, revealing that boating fatalities nationwide that year totaled 626, the third-lowest number of yearly boating fatalities on record...
Source: Dredging Today
May 24th 2016
Focused on the PHA’s (Port of Houston Authority) vision of becoming America’s distribution hub for the next generation, the Port Commission – during its regular monthly meeting yesterday – approved more than $88 million in infrastructure investments...
Source: Ship & Bunker
May 24th 2016
With the so-called “Res Cogitans” OW Bunker test case in the UK wrapped up earlier this month, attentions now turn to the raft of litigation being undertaken in the U.S. where this month a major milestone has been reached...
Source: Journal of Commerce
April 15th 2016
WASHINGTON, D.C. – In an unsurprising but welcome move for U.S. ports pursuing major harbor deepening projects, both houses of the U.S. Congress this week pushed forward legislation that would exceed White House and congressional targets for port funding...
Source: Maritime Executive
April 14th 2016
Like other Florida ports, Port Tampa Bay is known as a port of origin for cruise ships; and like its competitors, it is also interested in attracting business from the nascent Cuba cruise and ferry market...
Source: Maritime Executive
April 14th 2016
On Monday, the Port Authority of New York and New Jersey issued a call for proposals to develop a three-decade master plan for expansion of its terminals and cargo volumes, to engage stakeholders and to create a blueprint for growth...
Source: Lloyd’s List
April 18th 2016
SHIPOWNERS may now face tougher credit terms and rewritten supply contracts for bunkers, as physical suppliers respond to unfavorable court judgments in the wake of the collapse of intermediary giant OW Bunker...
Source: Journal of Commerce
April 1st 2016
The Panama Canal Authority said its new locks will be inaugurated June 26, more than two years after the original completion target...
Source: World Maritime News
April 6th 2016
The United States ports plan to spend a whopping USD 154.8 billion on port-related infrastructure over the next five years, the 2016-2020 Port Planned Infrastructure Investment Survey conducted by the American Association of Port Authorities (AAPA) shows...
Source: World Maritime News
April 18th 2016
Containership scrapping is expected to intensify in 2016 as charter market demand for Panamax ships is bound to remain muted based on the recent forecast from Drewry...
Source: Journal of Commerce
April 15th 2016
Deutsche Bank said it has reached an agreement to sell Maher Terminals, the 454-acre port terminal in Elizabeth, New Jersey, to a global infrastructure investment company, eight years after the German bank acquired it at the height of the pre-recession container import boom for $2.3 billion in 2007...
Source: Journal of Commerce
April 18th 2016
Spot market rates in the eastbound trans-Pacific edged lower for the second straight week, demonstrating that general rate increases taken by some carriers on April 1 are eroding...
Source: Journal of Commerce
April 14th 2016
The Port of Virginia set a new record in March for the amount of rail cargo handled in a month, despite a decline in overall containerized volume in the month...
Source: Lloyd’s List
February 19th 2016
US east coast ports had their best year ever in 2015 in terms of container imports, with 7.9m teu of loaded containers entering the region, which was a 12.6% year-on-year increase compared with a 0.4% rise for the US west coast, according to a BIMCO report...
Source: Lloyd’s List
February 18th 2016
Is New York a great place to be a ship-owner? What are some of the benefits and drawbacks of living in the Big Apple and running a shipping company, whether privately held or publicly traded?...
Source: Maritime Executive
February 16th 2016
Rhode Island Fast Ferry has announced that the first U.S. offshore wind farm service vessel has now hit the water. The 21-meter (69-foot) high speed catamaran is being built by Blount Boats at Rhode Island in the nation’s north east...
Source: Drewry
February 10th 2016
Container lines will continue slow steaming and move toward larger ships despite current low bunker prices undermining the economic case for doing so, according to Drewry Maritime Advisors...
Source: Maritime Executive
February 9th 2016
On Tuesday, the Obama administration released its proposed federal budget for FY2017, and several provisions have already generated heated debate...
Source: Maritime Executive
February 8th 2016
The U.S. Coast Guard published guidance on February 5 that allows mariners to use electronic charts and publications instead of paper charts, maps and publications...
Source: Lloyd”s List
February 9th 2016
Annual cargo volumes handled at the port of New York and New Jersey increased 10% to 6.4m teu in 2015, the port authority announced Monday...
Source: Maritime Executive
February 22nd 2016
Australia and other countries should follow the U.S. lead and conduct “freedom-of-navigation” naval operations within 12 nautical miles of contested islands in the South China Sea, a senior U.S. naval officer was reported as saying on Monday...
Source: Maritime Executive
February 21st 2016
A tug and barge ran aground after a loss of power in the Atlantic Ocean near the Absecon Inlet, New Jersey on Saturday...
Source: Dredging Today
February 19th 2016
U.S. Senator Thad Cochran has announced that the U.S. Army Corps of Engineers will provide an additional $67.1 million in FY2016 funding for flood control, navigation and other water resources-related work on waterways throughout Mississippi...
Source: Journal of Commerce
February 15th 2016
The eyes of Texas and other U.S. Gulf ports are fixed on the opening of the new Panama Canal locks later this spring. Port executives expect the long-delayed opening to post-Panamax vessel traffic will be a seminal event in the growth of their volumes, but later rather than sooner...
Source: The Guardian
February 20th 2016
Low oil and gas prices are close to triggering a wave of bankruptcies and debt defaults among US producers, investors fear. The fall in the oil price to levels that are punishingly low for producers is putting up to $88bn of borrowings potentially at risk...
Source: Tradewinds
January 19th 2016
Jefferies is expecting the crude tanker market to stay strong into 2017 but its outlook for bulker owners is decidedly less cheery...
Source: Maritime Executive
January 19th 2016
On Monday, less than 48 hours after the lifting of nuclear sanctions, National Iranian Tanker Company (NITC) managing director Ali-Akbar Safaei told Iranian state media that the first of the firm’s tankers had sailed from Iran under insurance provided by Lloyd’s, “Removal of sanctions had their first effect on the Iranian tankers,” he said...
Source: Sea News
January 24th 2016
The Panama Maritime Authority is pushing the International Maritime Organization to resolve key ship-owner concerns regarding the ballast water management convention before it will ratify...
Source: Maritime Executive
January 22nd 2016
Two Colombians ran a major heroin and cocaine smuggling operation to New York aboard the Royal Spanish Navy’s official training ship, paying thousands of dollars in bribes to midshipmen on the vessel, prosecutors said on Friday...
Source: Maritime Executive
January 22nd 2016
On Friday, U.S. Transportation Secretary Anthony Foxx announced the award of contracts worth $1.96 billion over eight years to seven U.S. companies firms to manage, maintain and operate 48 National Defense Reserve Fleet vessels through to January 2024...
Source: Maritime Executive
January 22nd 2016
General Dynamics NASSCO has delivered the world’s second container ship to be operated by LNG, the Perla Del Caribe...
Source: Maritime Executive
January 22nd 2016
Drone services company Sky-Futures has completed the first oil and gas inspection by a drone in the Gulf of Mexico for the oil and gas industry...
Source: Maritime Executive
January 21st 2016
The U.S. National Coast Guard Museum Association, Inc. announced commitments of over $4 million in pledges from private and corporate sponsors during a special event at the Houston Museum of Natural Science...
Source: Journal of Commerce
January 22nd 2016
After near-unprecedented congestion rocked the Port of Virginia in 2015, the 50-foot-deep port says it’s ready to handle brisk volume growth coming via the larger vessels soon to move through the expandedPanama Canal – and do so efficiently...
Source: Journal of Commerce
January 21st 2016
The Philadelphia Regional Port Authority has issued a short list of potential developers of a marine terminal on 196 acres at the former Philadelphia Navy Yard...
Source: Journal of Commerce
January 25th 2016
The Panama Canal Authority is shooting to open its third set of larger locks that can handle post-Panamax ships in May, but it doesn’t expect the larger locks to attract new services for several months...
Source: NOLA
January 22nd 2016
The Mississippi River has reopened to ship traffic at Point Celeste and Davant, south of New Orleans, after a 22-barge breakaway forced a two-day disruption, the Coast Guard announced...
Source: Ship & Bunker
December 21st 2015
Goldman Sachs is sticking to its earlier prediction of a $20 per barrel bottom for oil, and sees 32 million barrel per day (bpd) production from the Organization for Petroleum Exporting Countries (OPEC) in 2016, CNBC reports...
Source: World Maritime News
December 21st 2015
The official inauguration of the expanded Panama Canal scheduled for April 2016 will have to be delayed yet for another time due to necessary repairs...
Source: Ship & Bunker
December 21st 2015
The Organization of the Petroleum Exporting Countries (OPEC) Friday downgraded its outlook for global crude oil prices out to 2040, as part of a closely-watched report on global petroleum trends...
Source: World Maritime News
December 18th 2015
Prompted by ever depressing freight rates, member container lines in the Transpacific Stabilization Agreement (TSA) have agreed on the need for an across-the-board increase in dry cargo rates, effective February 1, 2016...
Source: World Maritime News
December 21st 2015
United States West Coast ports are not yet in a position to handle 18,000 teu containerships regularly and have much work to do in terms of improving productivity if they are to see them call on anything other than an ad-hoc basis, UK-based shipping consultancy Drewry believes...
Source: Journal of Commerce
December 14th 2015
The U.S Environmental Protection Agency has approved an $870,000 grant to help replace 25 older drayage trucks at the Port of Baltimore with cleaner-operating units with engines from the 2011 or later model years...
Source: Journal of Commerce
December 16th 2015
WASHINGTON – Congress is set to give U.S. ports and cash-strapped states in need of freight project funding an early Christmas gift via an omnibus appropriations bill expected to be sent to President Obama later this week...
Source: Journal of Commerce
December 16th 2015
The Port of Charleston’s November volume of full and empty 20-foot-equivalent units rose 6.5 percent year-over-year, reflecting what CEO Jim Newsome said was expected “sustained moderate growth.”..
Source: Ship & Bunker
December 18th 2015
Clean Marine Energy LLC (CME) Thursday in an emailed press release announced that the first liquefied natural gas (LNG) bunker barge in North America is scheduled to be launched in February 2016...
Source: BBC News
December 21st 2015
Oil prices have fallen to levels not seen since 2004, surpassing the lows seen during the recession of 2008...
Source: Port of Cleveland
December 14th 2015
The Port of Cleveland’s Board of Directors met last week to discuss a busy agenda, with the highlight being the approval of the Port’s 2016 budget. The new budget will maintain existing levels of revenue and spending, setting the stage for continued growth in cargo volume with steady expenses...
Source: Journal of Commerce
November 10th 2015
Retailers anticipate a jolly November for U.S. ports, with the National Retail Federation predicting that containerized imports will increase 8.3 percent over November 2014. Furthermore, last-minute importers of holiday merchandise should experience little if any port congestion...
Source: World Maritime News
November 12th 2015
A total of eleven of the world’s largest port operators have formally expressed interest in participating in a public bidding for the Port of Corozal, the Panama Canal Authority said on Tuesday...
Source: Port of Philadelphia
November 4th 2015
Governor Tom Wolf today announced his strategic plan for sustained management, maintenance, and development of the Port of Philadelphia. The governor emphasized his key priorities of investing in infrastructure, creating jobs, and keeping Pennsylvania economically competitive...
Source: World Maritime News
November 18th 2015
The Georgia and South Carolina Ports Authorities signed a revised joint venture agreement to work together toward the development of the Jasper Ocean Terminal (JOT) on the South Carolina side of the Savannah River, which will be jointly owned and operated by both port authorities...
Source: World Maritime News
November 12th 2015
Norwegian owner and operator of floating LNG import terminals Höegh LNG Partners LP is under investigation related to possible violations of federal securities laws in connection with false and/or misleading financial statements released by the company...
Source: World Maritime News
November 13th 2015
The acquisition of Neptune Orient Lines (NOL), the parent company of the APL, may not be such a good idea for Danish container shipping company Maersk Line, according to the latest warnings from debt markets...
Source: World Maritime News
November 11th 2015
The Panama Canal has postponed non-critical maintenance work at the locks, modified its booking system, canceled draft restrictions, and assigned additional crews to operate the tugs, locomotives and locks to expedite traffic, decrease Canal Waters Time (CWT) and reduce the current backlog of vessels caused by the unseasonably high demand...
Source: Journal of Commerce
November 9th 2015
The container shipping industry is facing another period of upheaval, with consolidation among top carriers threatening to disrupt the mega alliances even as the lines settle into their relatively new vessel tie-ups...
Source: Ship & Bunker
November 20th 2015
The Baltic Dry Index (BDI) Thursday fell to an all-time low of 504, with limp Chinese demand for iron ore and coal, along with a glut of vessels, the ever-present factors in what appears to be a worsening of already chronically woeful conditions for the sector...
Source: Yahoo! Finance
November 23rd 2015
On Monday morning, West Texas Intermediate crude oil futures surged into the green, after being down by about 2%, to as high as $42.75 per barrel. Brent crude also rallied nearly 2%, to about $45.73 per barrel...
Source: CNBC
October 5th 2015
Russia is ready to meet with members of the Organization of Petroleum-Exporting Countries (OPEC) -- as well as non-member oil producers -- to discuss the situation facing global oil markets, according to the country’s oil minister...
Source: Bloomberg Business
October 4th 2015
Oil rose for a second day after the number of rigs drilling in the U.S. slumped to a five-year low, continuing a slowdown in crude production that promises to reduce a global glut...
Source: Newark Patch
October 4th 2015
The $1.3 billion project to raise the Bayonne Bridge has hit some snags, the Port Authority of New York and New Jersey announced on Thursday...
Source: World Maritime News
October 12th 2015
The recently signed Trans-Pacific Partnership (TTP) deal is the latest and biggest of the growing number of free trade agreements (FTAs) that promise heightened container growth for participating countries, according to U.K.-based shipping consultant Drewry...
Source: World Maritime News
October 12th 2015
The U.S. House of Representatives on Friday approved the bill to lift the 40-year-old ban on crude exports, but the legislation faces an uphill battle in the Senate after President Barack Obama threatened to veto any measure that ends the ban...
Source: World Maritime News
October 5th 2015
Utilization of vessels running from Asia to West Coast North America (WCNA) has remained above 90% this year, but negligible volume growth prospects, mostly due to migration of cargo to gateways lying east of the Panama Canal, has caused rates to fall, according to London-based shipping analyst Drewry...
Source: World Maritime News
October 12th 2015
The amount of Sulphur dioxide (SO2) in the air over Denmark has more than halved since the new Sulphur Directive for ships transiting the North Sea and the Baltic Sea was introduced on January 1, 2015, according to Danish Environmental Protection Agency...
Source: World Maritime News
October 16th 2015
The U.S. Navy Salvage and Diving division of the Naval Seas Systems Command was contracted to locate the El Faro container ship which has been missing since October 1 and presumed to have sunk off the Bahamas close to the eye of Hurricane Joaquin...
Source: World Maritime News
October 6th 2015
The U.S. Court of Appeals’ 2nd Circuit has ordered the U.S. Environmental Protection Agency (EPA) to rewrite rules governing the discharge of ballast water by ships, ruling in favor of four environmentalist groups who sued the agency over concerns that the current rules are ineffective and do not protect U.S. waters...
Source: CNBC
October 16th 2015
Even as U.S. crude prices remain stuck below $50 a barrel, one energy company is betting big on an oil project that could transform energy infrastructure on the West Coast...
Source: Trade Winds News
September 14th 2015
The 47,144-dwt Negra Hipolita (built 1996) was found with an excess load of 50,000 barrels of diesel at the Cardon refinery, Reuters reports. Negra Hipolita belongs to Petroleos de Venezuela (PDVSA), which was unavailable for comment at the time of writing...
Source: Trade Winds News
September 14th 2015
Analyst Frode Morkedal also hiked his target price from DKK 10,920 ($1,655) to DKK 13,800 per share on the back of positive messages spelt out to investors last week...
Source: Trade Winds News
September 10th 2015
According to a letter from the country’s state oil company, seen by Bloomberg, owners of foreign-flagged ships must now seek a “letter of comfort” from export terminals...
Source: Journal of Commerce
September 11th 2015
The Port of Los Angeles recorded its strongest August container volume since the peak year of 2006, as traffic rose 3.8 percent compared to the same period in 2015...
Source: Journal of Commerce
September 11th 2015
The Port of Baltimore’s full container volume in 20-foot-equivalent units rose 6 percent year-over-year during the first seven months of this year, as a strong dollar and diversions from congested East Coast ports fueled a surge in import traffic...
Source: Journal of Commerce
September 6th 2015
Plans to dredge a nearly 6 mile channel at Port Said as well as develop the entire region surrounding the New Suez Canal remain on hold, reports suggest...
Source: World Maritime News
September 14th 2015
The first remote-controlled ferry demonstrator could hit the water within four to five years thanks to a new wave of research into operational efficiency based on ship intelligence solutions, according to Oskar Levander, Vice President for innovation, engineering & technology at Rolls-Royce Marine in Finland...
Source: World Maritime News
September 7th 2015
The marine technology of 2030 will combine developments from multiple scientific disciplines in ways that could transform the design, construction and operation of commercial ships through the integration of people, software and hardware, according to the Global Marine Technology Trends 2030 report released by Lloyd’s Register (LR)...
Source: World Maritime News
September 8th 2015
Port security has too often lagged behind the demands of ever more vulnerable facilities with new technology often being deployed as an after-market add-on, rather than a homogenous part of a port’s day to day working, according to risk management consultancy BMT Group...
Source: Ship & Bunker
September 14th 2015
Demand for liquefied natural gas (LNG) bunkering is currently too low to justify dedicated bunkering vessels, according to Mats Fagerberg, Managing Partner – LNG at Affinity LNG LLP...
Source: Ship & Bunker
September 11th 2015
Non-OPEC oil production next year will fall by nearly half a million barrels per day (bpd), marking the biggest decline in 24 years and a clear sign that Saudi Arabia’s strategy to defend its market share at any cost is working, the International Energy Agency (IEA) says in its latest Oil Market Report...
Source: Intermodal Shipbrokers
August 6th 2015
On July 14th, 2015 a historical consensus was reached in Vienna between Iran and the five permanent members of the U.N. Security Council, plus Germany, to eliminate Tehran’s nuclear program in return for lifting international oil and financial sanctions. The US-Iran deal is the most important breakthrough in their bilateral relationship since 1979...
Source: Maritime Executive
August 8th 2015
The Panama Canal said beginning September 8th it will temporality restrict ships to a maximum of 39 feet due to the drought caused by El Nino. This could affect about 20 percent of the water’s traffic transiting between Pacific and Atlantic oceans.
Source: World Maritime News
August 10th 2015
The government of China has reportedly ordered the merger of two of the country’s largest state-owned shipping companies – China Ocean Shipping Group (Cosco) and China Shipping Group...
Source: World Maritime News
August 6th 2015
Egypt’s President Abdel Fattah Al-Sisi officially inaugurated the New Suez Canal in the port city of Ismailiya at 2 pm local time today.
Source: World Maritime News
August 5th 2015
Teekay Tankers Ltd. has agreed to acquire a fleet of 12 Suezmax tankers currently owned by Principal Maritime Tankers for an aggregate purchase price of USD 662 million.
Source: World Maritime News
August 10th 2015
U.S. Port of Brownsville opened the new 600-foot marine cargo dock and storage yard on Friday, August 7, expected to make the port more competitive with domestic and foreign ports in the Gulf region.
Source: MSN
August 8th 2015
Hundreds of tons of marine debris have been collected from the shores of Alaska and British Columbia as part of an unprecedented cleanup effort that an organizer says barely made a dent in the rubbish that remains on beaches.
Source: Port Authority of NY & NJ
August 5th 2015
American President Lines (APL), a subsidiary of Neptune Orient Lines, and SeaLand, a division of Maersk Line, have announced the formation of a Vessel Sharing Agreement (VSA) that introduced a new weekly service branded the ACX by APL and the NAE by SeaLand.
Source: American Shipper
August 10th 2015
Although there are still some lingering congestion issues, retailers and logistics services providers are working together to ensure imports flow smoothly to store shelves.
Source: Bloomberg Business
July 14th 2015
The nuclear accord reached in Vienna on Tuesday could eventually reshape global oil markets. After almost two years of talks, the holder of the world’s fourth-biggest crude reserves will benefit from an easing of international sanctions on exports in return for curbs on its nuclear program. How Much More Oil Can Iran Produce?
Source: Platts
July 14th 2015
The discount of delivered RMK 500 CST bunker fuel to RMG 380 CST bunker fuel in the Rotterdam region has fallen to a 23-week low on adequate availability, scarce demand and high level of competition, sources said Tuesday.
Source: Journal of Commerce
July 1st 2015
The arrival of mega-ships is having a profound effect on port operations at all major U.S. gateways, but the biggest impact by far in terms of congestion is being felt in the two largest port complexes, Los Angeles-Long Beach and New York-New Jersey.
Source: Journal of Commerce
July 13th 2015
A niche liner service linking Europe with the Great Lakes port of Cleveland has quadrupled its container volume since adding a second monthly sailing, and port officials say the fledgling operation is starting to catch on.
Source: Journal of Commerce
July 7th 2015
The Port of New York and New Jersey handled record import container volume in May, the latest sign that diversion from West Coast ports is lingering months after their congestion cleared.
Source: World Maritime News
July 15th 2015
Weekly capacity on Far East to US East Coast all-water services has surged by 20% year-on-year, to reach a record high of 143,000 teu this month, according to market analyst Alphaliner.
Source: The Gazette
July 14th 2015
The federal agency that oversees the safety of the nation’s pipelines failed to follow through on congressional reforms that could have made a difference in a May break that created the largest coastal oil spill in California in 25 years, a House committee chairman said Tuesday.
Source: Central American Data
July 8th 2015
The IMF expects economic growth will continue and recommends that the authorities take advantage of the benign inflation level to suspend price controls.
Source: American Shipper
June 17th 2015
APM Terminals outlined its plans to prepare for growth at the Port of Mobile with expansion of the terminal’s container yard and the addition of two cranes. APM Terminals Mobile is investing $40 million in infrastructure to expand its container yard by 20 acres and add two super-Post Panamax STS cranes to the terminal.
Source: Marine Trader
June 15th 2015
The membership of ICS, which comprises national associations from 37 countries (including the newly-admitted Russian Chamber of Shipping), reviewed important regulatory and policy developments affecting global maritime trade.
Source: Maritime Executive
June 15th 2015
On Friday, the IMO adopted globally binding regulations for ships using LNG as fuel. The newly updated international code, the IGF Code, covers the safety of ships using gases or other low-flashpoint fuels and is designed to ensure that the safety level of ships using LNG and other more environmentally friendly fuels is enhanced and made more homogeneous.
Source: American Shipper
June 15th 2015
Additional workers will be used to run second yard shifts, execute rail movements, and bolster equipment operations, according to a statement from the New York Shipping Association. The Port of New York and New Jersey will add a 161 longshoremen in the coming months.
Source: Maritime Executive
June 12th 2015
Nor-Shipping saw a number of innovations for improving the energy efficiency of container ship designs, but with low fuel prices and the latest spending spree on mega-container ships, the industry is undergoing a shift that may see a stall in the benefits shipowners will gain for their efficiency dollar.
Source: U.S. News & World Report
June 11th 2015
Engineers began flooding a newly enlarged section of the Panama Canal on Thursday as authorities prepare to test a series of new locks that will allow the waterway to accommodate much bigger ships, affecting trade around the world.
Source: Reuters
June 1st 2015
U.S. shale oil producers, having weathered the worst price plunge in their industry’s brief history, now face a dilemma: whether to stay in a defensive crouch after slashing their rig fleets, or start drilling more wells to capture a partial recovery in prices.
Source: Maritime Exchange: The Beacon
May 14th 2015
The Army Corps of Engineers has approved an additional $62.5 million in funding for the Delaware River 45 foot Main Channel Deepening project. Congress had already approved $35 million for the project in the 2015 Corps budget.
Source: Financial Times
May 13th 2015
Saudi Arabia says its strategy of squeezing high-cost rivals such as US shale producers is succeeding, as the world’s largest crude exporter seeks to reassert itself as the dominant force in the global oil market.
The kingdom’s production rose to a record high of 10.3m barrels a day in April and there is no sign that it plans to reverse its policy at next month’s meeting of Opec, the producers’ cartel, in Vienna.
Source: Maritime Executive
May 13th 2015
A new bill introduced on Wednesday seeks to lift the over 40-year ban on the export and sale of U.S. crude oil outside of the country’s borders.
Senators Heidi Heitkamp and Lisa Murkowski of Alaska are the sponsoring the legislation, which will reclassify crude and condensate oil – a light petroleum oil – so that they can be exported freely without licenses from the Commerce Department.
Source: Marine Trader
May 1st 2015
A roundtable (RT) of international shipping organizations (comprising BIMCO, the International Chamber of Shipping, Intercargo and Intertanko) has announced it is “deeply concerned” if the international convention to regulate ships’ ballast water comes into force soon without a realistic implementation schedule that recognizes the timetable for US type-approved ballast water management systems (BWMS) to be available in sufficient quantities.
Source: Fortune
May 5th 2015
Congestion on the West Coast has triggered huge eastward shifts in ocean traffic, and long-term factors will sustain the shift.
For brief periods during the past week, no ships arriving at the adjoining ports of Los Angeles and Long Beach had to sit at anchor and wait to be unloaded. It’s a sign that the epic congestion that turned America’s largest port into a three-thousand-acre logjam for nearly eight months is finally ending.
Source: SeaTrade Global
May 5th 2015
Panama’s Cabinet has officially approved a proposal to modify the Panama Canal tolls structure, following a recommendation from the Panama Canal Authority (ACP) Board of Directors.
The newly approved toll adjustments for all market segments are scheduled to enter into effect on 1 April 2016.
Source: Maritime Professional
May 6th 2015
With America’s population expected to grow by 70 million over the next 30 years, moving the goods that enrich our lives – and the freight that fuels our economy – will be a key challenge. As our Beyond Traffic draft framework indicates, by 2045, the volume of goods on our roads, rail, air, and water will increase 45 percent or more.
Source: Ship and Bunker
May 8th 2015
Transport Canada last week issued a safety advisory for vessels switching fuels for Emissions Control Area (ECA) compliance, warning marine operators to ensure that switching from high to low sulfur bunkers is done carefully in order to avoid propulsion failure, engine black outs, “and/or damage to the machinery.” The federal department pointed out that the transition from HFO to a 0.10 percent sulfur fuel, if not performed correctly, can “jeopardize the safety of the vessel, passengers and crew.”
Source: CNBC.com
March 26th 2015
Military intervention by Saudi Arabia in the conflict in Yemen is ringing alarm bells around the Middle East and the world.
Source: Reuters
March 27th 2015
Oil jumped about 5 percent on Thursday, the biggest daily gain in a month, as air strikes in Yemen by Saudi Arabia and its Gulf Arab allies sparked fears that escalation of the Middle East battle could disrupt world crude supplies.
Source: Maritime Professional
March 27th 2015
As it enters the final stretch of a massive expansion, the Panama Canal Authority is setting its sights on an even more ambitious project worth up to $17 billion that would allow it to handle the world’s biggest ships.
Source: Marine Trader
March 4th 2015
Theodore Ntalakos, Newbuildings and SnP Broker at Intermodal explain why the maritime industry must continue looking forward despite the current, worrying issues with the market...
Source: Maritime Executive
March 10th 2015
The U.S. Department of Interior (DOI) announced its draft plan in January to lease 14 different offshore areas for oil and gas drilling, including areas in the Gulf of Mexico, Alaskan coast and Atlantic Ocean, in an effort to promote the U.S.’s domestic energy resources as a fundamental element to supporting American jobs and minimizing the nation’s dependency on foreign oil. However, the prospect of offshore drilling in the Atlantic Ocean raised serious concerns for some environmental activists and lawmakers.
Source: Maritime Executive
March 9th 2015
The Port of Miami’s Deep Dredge project was initiated to accommodate the influx of Post-Paramax vessels that will be using the new Panama Canal. Recently, a government-sponsored dive exposed additional dangers to the endangered corals near the dredge site, which are dead or dying.
Source: Ship & Bunker
March 5th 2015
The U.S. Coast Guard (USCG) Tuesday issued a safety alert on fuel switchover procedures, citing a number of incidents involving machine space oil leakages.
Source: Platts
March 10th 2015
The US Energy Information Administration on Tuesday nearly tripled its forecast for the 2015 Brent-WTI spread to $7.35/b, largely due to a glut of US crude production.
Source: Reuters
February 20th 2015
At least three refineries that account for more than two-thirds of the U.S. East Coast’s output experienced significant disruptions on Friday due to single-digit temperatures that sent the entire Northeast into a deep freeze.
Source: Ship and Bunker
February 18th 2015
The ongoing labor dispute in U.S. West Coast ports is expected to lead bunker suppliers seeing weakened demand as congestion builds and shippers make arrangements to use other ports, Platts reports.
Source: OceanIntelligence
February 12th 2015
Work on the Nicaragua Grand Canal has started but its construction has raised questions because of the lack of an environmental impact review, says a report.
Source: OceanIntelligence
February 10th 2015
Bunker quality is improving, says the International Bunker Industry Association (IBIA).
Source: TradeWinds
February 6th 2015
Liner operators transiting the enlarged Panama Canal are set to be incentivized to use their largest boxships.
Source: Platts
February 5th 2015
Bunkers International said Thursday it and partner CI Vanoil have launched a 0.1%S fuel oil-based product in Cartagena, Colombia, designed to meet stricter sulfur restrictions that went into effect at the beginning of the year.
Source: Ship and Bunker
February 4th 2015
The bill proposes taxing LNG on energy output rather than per gallon, especially as LNG creates less power per gallon than diesel.
Source: TradeWinds
February 3rd 2015
Price predictions for crude have taken another cut but are well above current prices and oil markets are already looking to be significantly tighter in the second half of this year as the “moderation” in US shale oil takes effect, say analysts.
Source: The Maritime Executive
February 2nd 2015
Cuba’s improved relations with the United States could lead to a more rapid expansion of the port upon which the country has staked much of its economic future, an executive whose company built the port said on Friday.
Source: Joc.com
January 19th 2015
Panama transshipment activity is expected to jump by double digits after the new Panama Canal locks open in 2016 and will be followed by longer-term annual growth of about 5 percent, Drewry Maritime Research said in the latest issue of its Container Insight Weekly.
Source: OceanIntelligence
January 8th 2015
Shipowners are choosing marine gas oil (MGO) over “boutique“ ultra-low sulphur fuel oil material to fuel vessels sailing in US emissions control areas (ECAs), a report suggests.
Source: Ship and Bunker
January 8th 2015
Owners and operators may be tempted to keep aging ships around to take advantage of cheaper bunkers.
Source: Ship and Bunker
January 7th 2015
Rising costs associated with new Emissions Control Area (ECA) rules are expected to hasten the consolidation in Northern European short-sea and feeder markets, JOC reports.
Source: TradeWinds
January 6th 2015
No one wants to make a crisis out of a drama but it is hard for offshore specialists not to panic about the price of oil.
Source: Seatrade Global
January 6th 2015
The Panama Canal Authority (ACP) has announced a proposal for a new toll structure, as exclusively revealed by Seatrade Global on Monday, and is inviting formal comments on the tolls.
Source: Maritime Executive
January 5th 2015
International accountant and shipping adviser Moore Stephens says shipping needs to adopt a can-do attitude in order to successfully meet the challenges which are likely to come its way in 2015.
Source: Ocean Intelligence
January 2nd 2015
The much anticipated new emission control area (ECA) 0.10% sulphur limit, adopted by the International Maritime Organization (IMO) under a 2008 revision of MARPOL Annex VI, has now taken effect.
Source: Ocean Intelligence
December 15th 2014
The Panama Canal’s expansion reached a milestone on Monday with the installation of the first gate for the new locks.
Source: Maritime Executive
December 15th 2014
The United States Congress last week enacted the strongest statement of support for the Jones Act and the American domestic maritime industry since the Merchant Marine Act of 1936. The measure was included as part of the National Defense Authorization Act (H.R. 3979), which noted that the national security benefits of the domestic maritime industry and the Jones act are “unquestioned.” The bill states that the Jones Act and the American domestic maritime industry are vital to “the national security and economic vitality of the United States and the efficient operation of the United States transportation system.” The legislation has been approved by the U.S. House of Representatives and the Senate and is expected to be signed into law by the President.
Source: Trade Winds
December 12th 2014
A growing number of equity analysts believe lackluster freight rates will continue to plague many publicly-traded bulker owners in the coming year.
Source: The Maritime Executive
December 11th 2014
In reviewing the proposed $1.01 trillion Consolidated and Further Continuing Appropriations Act of 2015 hammered out in Congress late Tuesday, the American Association of Port Authorities (AAPA) noted that there are significant increases for the U.S. Army Corps of Engineers’ Harbor Maintenance Tax (HMT) operations and maintenance (O&M) activities and construction budgets, and for the Environmental Protection Agency’s Diesel Emissions Reduction Act (DERA) grants program. While the Department of Transportation’s TIGER (Transportation Infrastructure Generating Economic Recovery) grants program will drop to $500 million compared with fiscal 2014’s $600 million mark, funding is still significantly higher than the House-proposed mark of $100 million.
Source: Reuters
December 5th 2014
* A fifth of projects at risk with oil at $80/barrel – Rystad
* Oil prices drop puts economics of some projects in doubt
* Canadian oil sands, LNG projects at high risk of delays
* Some North Sea, Arctic and Gulf of Mexico fields on hold
Source: Port Technology International
December 3rd 2014
Emissions such as carbon dioxide and mono-nitrogen oxide that emit from cargo ships are expected to quadruple by 2050.
Source: Marine Trader
December 2nd 2014
‘Innovation, reliability and cost-efficiency,’ says MacGregor in this post, which takes a closer look at the systems installed on two new 20,000 dwt multipurpose vessels owned by Rickmers Group.
November 18th 2014
A drastic shift in the paradigm for selecting routes transiting sulfur emission control areas is nearly upon us. With fuel differential costs between IFO and Ultra Low Sulfur fuel on the order of USD 300 to 400 per ton, the methodology for voyage planning will enter a completely new realm as of January 1, 2015 when ECA zones have stricter regulations.
November 17th 2014
Shipping freight rates from Asia to Europe, the world’s busiest trade route, on Monday logged their biggest-ever weekly drop, as European growth is stagnating and Japan just fell back into recession.
November 14th 2014
A just-released study commissioned by the Pacific Maritime Association argues that West Coast ports stand to lose significant volumes of cargo in the years following the Panama Canal expansion due to lower freight rates that will be offered on all-water Asia to East and Gulf coast services.
November 10th 2014
Some shippers with sensitive cargo are diverting containers away from the U.S. West Coast to the port of Virginia, despite higher transportation costs, to avoid congestion and potential labor action.
November 7th 2014
Ecuador and Venezuela plan to present a joint proposal at the next meeting of the Organization of the Petroleum Exporting Countries that will “imply” cutting some production, President Rafael Correa said.
November 7th 2014
The Worldscale Association has announced bunker prices and fixed rate differentials for 2015, which will help deal with the issue of higher freight costs resulting from changes to Emission Control Area regulations.
November 6th 2014
European shipowners are to study the impact low sulphur bunker demand will have on the market.
November 4th 2014
The US ports of Los Angeles and Long Beach recently reached six-month highs for vessel arrival delays and berth times amid increased congestion in Southern California, according to shipment management software company CargoSmart.
October 9th 2014
The Worldscale Association has announced new bunker prices and fixed rate differentials for 2015, which will help deal with the issue of higher freight costs owing to the upcoming Emission Control Area regulations.
October 6th 2014
The International Bunker Industry Association (IBIA) is calling on the International Maritime Organization (IMO) to create legislation that will ensure a “decent and honest” bunker market. IBIA Chairman Jens Maul Jørgensen told maritime news provider ShippingWatch that the quality of supplied bunkers is continuing to decline. He added that a majority of the global fuel suppliers fail to comply with the standards adopted in 2010 (ISO 8217:2010) and are still using outdated standards.
October 8th 2014
The Port Authority of New York and New Jersey expects within the next couple of weeks to announce details of its “winter plan” to avoid a repeat of the gridlock that crippled the East Coast’s largest port last January and February.
October 12th 2014
The manufacturing sector, already a leading component of the U.S. economy, would benefit significantly if the crude oil ban were lifted, according to a new study.
October 13th 2014
Global cloud software company Inatech has launched ECA Complaince, a rules based application and reporting tool that gives ship operators the information and reports needed to demonstrate continuous compliance with the 2015 ECA regulations.
October 1st 2014
Officials of the Philadelphia Regional Port Authority (PRPA) today released a Request for Expressions of Interest (R.E.I.) for the development of its Southport Terminal Complex, located on the Delaware River in South Philadelphia.
October 5th 2014
An industry committee hopes to agree by mid-2015 on a plan for interchangeable “gray” chassis in the Port of New York and New Jersey, a port authority official said.
October 15th 2014
The northwest European fuel oil Calendar 2015 hi-lo swap – the premium of 1% FOB NWE cargo swaps over 3.5% FOB Rotterdam barges – has hit a record low ahead of new rules next year that will limit bunker fuel sulfur levels in emission control areas to 0.1%.
October 6th 2014
Georgia port and state officials have signed a partnership agreement with the Army Corps of Engineers that allows work contracts to be awarded for deepening of Savannah’s port channel to 47 feet.
August 19th 2014
Container volumes in Los Angeles-Long Beach were flat in July as uncertainty about the International Longshore and Warehouse Union contract negotiations resulted in cargo diversion to East Coast ports.
August 18th 2014
In an effort to step up enforcement of the North American Emissions Control Area (ECA) rules, US authorities have boarded vessels to collect bunker samples and is experimenting with vessel flyovers to test smokestack plumes, the UK P&I Club says.
August 17th 2014
The marine industry is increasingly exposed to the kind of complexity and regional variation in exhaust emissions legislation to which road transport sectors have been subject for some time. They include international requirements on air pollution emissions under Annex VI of IMO’s MARPOL Convention and additional regional and local regulations applied by bodies such as the European Union, the California Air Resources Board’s OGV regulations.
August 15th 2014
Canals used to be a sleepy topic. As a news organization, you could count on little or nothing to report. Once in a while, a drought would restrict drafts at the Panama Canal, or wait times would spike temporarily, but that was about it. Suddenly, times have changed.
August 14th 2014
Philippine authorities were working with U.S. officials to get shore leave for 17 Filipino seafarers aboard the “Nikol H” which has been stranded for months in Philadelphia due to mechanical and financial problems. The men were in good spirits and have been receiving pay despite not being allowed off the vessel. U.S. Customs and Border Protection won’t allow the mariners to go ashore without proper visas. But the agency will consider any requests for humanitarian parole.
August 8th 2014
The flexibility of coated Aframaxes (LR2s) has the ability to change this sector’s supply balance. With around 27.5% of the Aframax fleet being coated, owners have the option to switch to clean trades when market conditions dictate. The two classes are therefore inextricably linked, said EA Gibson in a report.
Libya, having seen its output flounder at low levels of around 200,000 b/d in recent months, is now seeing production rise again after a series of agreements with the various tribes and factions that have occupied fields and facilities and blocaded ports for more than a year. Production is now around the 600,000 b/d level.
Norfolk – The Port of Virginia set a new mark for TEU volume in fiscal 2014 having handled more than 2.3 million TEUs in the twelve months that closed June 30, and eclipsed the previous fiscal year record by 140,476 TEUs.
Leaders of an industry group that proposed far-reaching changes to operations of the Port of New York and New Jersey are starting the more difficult task of deciding how to turn those recommendations into reality.
The announcement was made at a press conference attended by Governor Chris Christie, Senate President Stephen Sweeney, the Board and staff of the South Jersey Port Corporation, various Gloucester County executives and representatives of Holt Logistics at the future site of the facility, located at the former Paulsboro BP refinery on the banks of the Delaware River in Paulsboro, Gloucester County.
Authorities say Skangass spillage during Fjord Line ferry refuelling could have become ‘major accident’
Norway’s civil defence authorities are conducting an investigation into a serious leak of LNG that occurred during truck-to-ship bunkering operations involving a cruise ferry last month.
Worcester, Mass. – Heating oil buyers in Massachusetts, Vermont, New Jersey, Rhode Island and Connecticut are expected to see a significantly higher price on July 1, following the planned switch to the new 500-ppm maximum sulfur content heating oil from 2,000 ppm high-sulfur heating oil, according to some major heating oil suppliers.
Maersk, CMA CGM and MSC have abandoned plans for their potentially game-changing P3 Network after China refused competition clearance.
The merger had been widely tipped to win Chinese backing following approval from Europe and the US, but in a shock announcement on Tuesday, the country's ministry of commerce said the huge alliance may eliminate or restrict competition in the Asia-Europe market.
Addressing enforcement of new sulfur limits in emissions control areas (ECAs) is the top concern when it comes to addressing the pollution issue, a Wallenius Wilhelmsen Logistics (WWL) executive who will present a session about the issue at RORO 2014 said in an emailed press release. "The sulphur emissions situation is endlessly discussed in the media but the real issue, as I see it, is the enforcement of it" said Roger Strevens, WWL's Environment vice president...
On March 4, 2014, representatives of the maritime industry appeared before the House Subcommittee on Coast Guard and Maritime Transportation and called for legislative reform of key environmental regulations. They represented a phalanx of maritime interests: the Chamber of Shipping of America, the American Waterways Operators, the Shipping Industry Coalition, INTERTANKO, Cruise Lines International Association (CLIA), the Maritime Industrial Transportation Alliance (MITA), and the commercial fishing industry...
Two more steps closer to 45 feet
Since construction to deepen the main shipping channel from 40 to 45 feet was initiated in 2010, approximately $165 million of federal and Commonwealth of Pennsylvania funds have been contributed to the project...
Container import volumes at US ports are expected to see a significant jump this month, a trade body has forecast.
The National Retail Federation (NRF) expects volumes to increase by 7.5% this month due to the threat of a potential strike by dockworkers. It retailers are expected to bring "unusually high quantities of merchandise" into the country early to avoid any potential disruptions after the labor contract with West Coast dockworkers expires.
Star Bulk Carriers Corp. has inked today definitive agreements with Oaktree Capital Management, L.P. and Star Bulk’s Non‐Executive Chairman, Mr. Petros Pappas, pursuant to which Oceanbulk Shipping LLC and Oceanbulk Carriers LLC and entities controlled by the Pappas Investors are expected to become indirect wholly‐owned subsidiaries of Star Bulk...
May 21st 2014
Approval for an alliance of the world’s three biggest container lines is likely to be delayed until the third quarter of 2014. The so-called P3 alliance – made up of Maersk, CMA CGM and Mediterranean Shipping Co – has already won approval from the US Federal Maritime Commission.
May 21st 2014
The dramatic surge in the number of container ships scrapped in recent months is set to continue but will have minimal impact on the oversupply of vessels in the key East-West trades, according to Drewry Maritime Intelligence.
May 20th 2014
The two major US west coast ports have both seen April container volumes increase by 10% compared to a year ago.
May 20th 2014
The shipping industry’s current focus on fuel efficiency and emissions reduction is raising many major questions, according to a roundup of class society experts by industry news site MarineLink.
May 20th 2014
Shippers surveyed by Wolfe Research in March and April on average expect their volume to rise 3.6 percent over the coming year – the rosiest forecast since 2010. They expect railcar and intermodal growth to drive total freight volume, with each expanding 5 percent over the next 12 months. Domestic ground and ocean shipping traffic will expand on average 3 to 4 percent in the same period, shippers said.
April 11th 2014
Jacob Sterling, head of sustainability for Maersk Line, told a media briefing on Monday that it retrofitted 137 containerships in its fleet last year.
April 11th 2014
Maritime services firm Crowley Maritime Corp has acquired majority ownership of Accord Ship Management (HK) Ltd and Accord Marine Management in a deal announced on Monday.
April 11th 2014
The 2013 financial reporting season for container lines ended for many carriers in a sea of red ink as high bunker prices and weak freight rates combined to drag down profits.
April 11th 2014
Volumes are expected to increase by 6.1% this month according to the National Retail Federation (NRF).
April 11th 2014
Virginia Gov. Terry McAuliffe said the state port authority’s operating losses must end, and that he plans “some very substantial changes” to the port board and wants to renegotiate its 20-year lease of APM Terminals’ Portsmouth facility.
April 11th 2014
The distinctive design incorporates GTT’s proven membrane Cargo Containment System (CCS), which is utilized in 70% of the global LNG carrier fleet and nearly 90% of LNG carrier projects on order.
11th March 2014
Terminals of Blackwater Midstream Holdings bought for $60 million.
March 10th, 2014
The crisis in Crimea could have a significant impact on the tanker market if Ukraine and other European nations end up reducing their reliance on Russian crude, a leading investment bank told clients Monday.
Bruce Barnard, Special Correspondent
March 10th, 2014
Many U.S. East Coast and Gulf ports will struggle to handle the larger container ships the P3 and G6 carrier alliances likely will deploy on trans-Atlantic routes, according to Drewry Maritime Research.
March 10th, 2014
Speaking to Seatrade Global Tor Svensen, ceo of maritime for DNV GL, said: “Today I see energy efficient ships have become the norm, nobody goes and buys anything other than an energy efficient ship today.” He told seatrade Global.
February 27th, 2014
The Philadelphia Regional Port Authority (PRPA) is pleased to announce that its newly-released cargo statistics for 2013 again indicate not only a major increase in cargo tonnage compared to the previous year, but also the fourth consecutive year of double-digit cargo growth. Specifically, the maritime facilities of the Port of Philadelphia handled 5,100,385 metric tons of containerized and breakbulk cargoes in 2013, a healthy gain of over 15 percent compared to the 4,431,214 tons handled in 2012.
21st January 2014 18:13 GMT
The world’s largest dry bulk carrier Oldendorff says it will opt for marine gas oil (MGO) in order to meet new 2015 emission regulations.
Friday, 15 November 2013 | 00:00
U.S. crude oil refinery inputs averaged about 15.4 million barrels per day during the week ending November 8, 2013, 343 thousand barrels per day higher than the previous week’s average.
14th October 2013 10:40 GMT
Shale rigs are helping the US reduce dependence on energy imports
The American shale oil boom has put the United States on track to overtake Russia as the world’s largest oil producer next year, according to the International Energy Agency (IEA).
10th October 2013 04:00 GMT
Acquisition expected to close before end of 2013
Hess Corporation plans to sell its US East Coast and St. Lucia storage terminal network to Buckeye Partners for $850 million.
30th September 2013 14:54 GMT
‘The free market will ultimately determine the mix of energy sources for ships’
The refining industry is committed to helping the International Maritime Organisation (IMO) conduct a low-sulphur fuel availability review “in a timely and scientifically sound way,” according to an industry spokesperson.
30th September 2013 13:35 GMT
Global marine fuel sulphur limit set to bring huge change for refining industry
The refining industry will need to undergo changes that are “unprecedented in scale within the industry” to meet global demand for middle distillate fuels when the global sulphur limit for marine fuels drops to 0.50%, according to an industry representative.
31st July 2013 12:10 GMT
Samples have been collected for sulphur testing
The US Environmental Protection Agency (EPA) has recently undertaken the first field checks to see if bunker suppliers in the US are providing low sulphur fuel oil (LSFO) that complies with the current 1.00% emission control area (ECA) sulphur limit.
26th July 2013 17:00 GMT
EPA will be checking FONARs for signs of abuse
The number of vessels claiming that they cannot find low sulphur fuel oil (LSFO) prior to entering the North American emission control area (ECA) is down by more than 70% compared to the period just after the ECA took effect.
26th July 2013 03:30 GMT
Kirby saw revenue of $564.0 million during Q2, up from $511.9 million on year
US barge operator Kirby Corporation posted higher earnings during the second quarter (Q2). The firm recorded net profit of $63.1 million in Q2 2013, compared to profit of $47.6 million during the same period in 2012. Its marine transportation and diesel engine services saw combined revenue of $564 million during Q2 2013, higher than revenue of $511.9 million in the same period last year.
12th August 2013 00:00 GMT
The OPEC Reference Basket averaged $104.45/b in July, representing a gain of $3.42/b over the previous month. The increase came mainly from Brent-related North African grades, as well as Middle Eastern crudes. The Nymex WTI front-month contract gained a hefty $8.90/b in July to average $104.70/b. Positive US economic data coupled with US crude inventory draws attracted speculative flows back into the US crude futures market. Managed money net long positions rose to the highest level since the CFTC began publishing weekly disaggregated data in September 2009.
