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Wednesday, December 18, 2024

Maritime Blogs

Official: Indonesia will respond appropriately to incidents in the South China Sea

Posted to Maritime Reporter on October 31, 2024

An official stated that Indonesia's position in the South China Sea is unchanged, and it will take appropriate measures to protect its territory. This was after a Chinese coastguard vessel disrupted a survey conducted by Jakarta's government energy company.

US gasoline stockpiles hit 2-year low on stronger demand, EIA says

Posted to Maritime Reporter on October 30, 2024

The Energy Information Administration (EIA), which is responsible for the U.S. government's energy policy, announced on Wednesday that U.S. gasoline inventories fell to their lowest level in two years last week due to increased demand. Crude…

Russia accuses UK using Black Sea to supply Ukraine with weapons

Posted to Maritime Reporter on October 30, 2024

Russia accused Britain on Wednesday of using the Black Sea grain canal to deliver weapons to Ukraine after London denied its allegations that Russian attacks against Ukrainian ports disrupted vital grain supplies for other nations. Last week…

Fincantieri available to \any form\ of collaboration with Thyssenkrupp marine arm

Posted to Maritime Reporter on October 30, 2024

shipbuilder said on Wednesday. best strategy is to give more value and reinforce (Thyssenkrupp. Marine Systems). We are at their disposal for any possible kinds. of collaboration, Fincantieri Chief Executive Pierroberto. Folgiero told Bloomberg television.

South Korea bids to purchase? The traders estimate 101,000 T of rice

Posted to Maritime Reporter on October 30, 2024

European traders reported on Wednesday that the state-backed Agro Fisheries & Food Trade Corporation of South Korea has launched an international tender for an estimated 101,000 tons of rice. The deadline to submit price offers is November 7.

Orsted sells stakes to Brookfield in four UK offshore Wind Farms

Posted to Maritime Reporter on October 30, 2024

Orsted, a Danish company, announced on Wednesday that it had sold a 12.45% stake in four of the British offshore wind farms currently in operation to Brookfield for a total amount of 1.75 billion pounds (2.28 billion dollars). As part of an extensive review…

French and Benelux stocks: Factors to watch

Posted to Maritime Reporter on October 30, 2024

Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. The Paris-based investment firm CIAM announced on Tuesday that it would appeal directly to France's financial regulator AMF, urging a public offering of Vivendi stock.

Police say there is no nuclear threat from the fire at BAE's nuclear sub yard in north-west England.

Posted to Maritime Reporter on October 30, 2024

Police said that although a significant fire is still burning at BAE Systems shipyard Barrow-in-Furness in northwest England where the new generation of British nuclear submarines are built, there is no nuclear threat from this incident. Cumbria…

Security sources fear that a dozen Egyptian migrants have died off the coast of Libya

Posted to Maritime Reporter on October 29, 2024

Two Egyptian security sources reported that a dozen Egyptian migrants were believed dead when their boat capsized on Monday off the coast near the town of Tobruk in eastern Libya. One man was rescued. Sources said that the 13 men left for Italy on a people-smugglers boat Sunday night.

LSEG data show that Turkey increased its Russian Urals oil imports 40% in October.

Posted to Maritime Reporter on October 29, 2024

LSEG data showed that Turkey increased its imports of Russia’s Urals crude to 7,41 million barrels in October from 5,15 million barrels in September, due to a rise in demand and the completion of refinery maintenance. After the STAR refinery…

French Naval vessel passes through Taiwan Strait

Posted to Maritime Reporter on October 29, 2024

The Taiwan Defence Ministry announced on Tuesday that a French naval vessel had passed through the Taiwan Strait. This was the latest Western country to make a trip through this strategic waterway. Around once a year, the U.S. Navy, sometimes accompanied by ships of allied nations…

Royal Caribbean raises its annual profit forecast due to strong demand for cruises and price increases

Posted to Maritime Reporter on October 29, 2024

Royal Caribbean raised its profit forecasts for the fourth time in a row on Tuesday, thanks to multiple price increases and increased demand for cruises that visit private destinations or cooler places. The post-pandemic surge of cruise demand continues to be strong…

US Gulf of Maine Offshore Wind Auction is a Test for the Beleaguered Industry

Posted to Maritime Reporter on October 29, 2024

The administration of President Joe Biden will begin the sale of offshore development rights on Tuesday for eight areas near the northern New England coasts. This is a test for industry interest in new investment following a year of high profile setbacks.

US West Coast refiners increase imports of Canadian light crude

Posted to Maritime Reporter on October 29, 2024

Data shows that Canadian exports of lighter crude by water to the U.S. West Coast are up since the Trans Mountain expansion pipeline (TMX) started operating in May. This has surprised some market participants, who had thought the TMX would be…

South Korea's NOFI buys estimated 136,000 T corn, traders say

Posted to Maritime Reporter on October 29, 2024

European traders reported that the leading South Korean animal feed manufacturer Nonghyup Feed Inc., (NOFI), bought approximately 136,000 metric tonnes of animal feed corn, which could be sourced from either the United States, South America…

Adani Ports India maintains core profit forecast for FY25 after Q2 loss

Posted to Maritime Reporter on October 29, 2024

Adani Ports and Special Economic Zone in India said that it was "well-positioned" to reach the upper end its core profit forecasts for fiscal year 2025 after missing Tuesday's profit estimates. After a 10% increase in cargo volumes in the third quarter of fiscal year 2025…

Thyssenkrupp's CFO: Possible spin-off of the marine division in 2026

Posted to Maritime Reporter on October 29, 2024

Thyssenkrupp's CFO confirmed that the company is working to spin off its warship division, after Carlyle pulled out of a bid last week. The group has set a realistic date for such a move, 2026, as an example. A spin-off within the next calendar year is ambitious, in my opinion.

Egypt's supply minister expects a delayed Russian wheat shipment to Egypt in November

Posted to Maritime Reporter on October 28, 2024

Sherif Farouk, the Egyptian supply minister, said that Egypt expects to still receive a shipment of Russian grain in November after the initial consignment set for October was delayed. In September, Egypt's Supply Ministry announced that it had purchased 430…

The Tunisian coastguard has recovered the bodies of 16 migrants

Posted to Maritime Reporter on October 28, 2024

The national guard reported on Monday that the Tunisian coastguard had recovered 16 bodies from the sea off the coasts of Maloulech and Salakta. This is the latest boat tragedy in the Mediterranean. The bodies were discovered at the weekend, and then again on Monday.

KKR-backed Malaysian OMS signss contract with Dutch firm for cable-laying vessel

Posted to Maritime Reporter on October 28, 2024

OMS Group, a KKR backed Malaysian digital subsea infrastructure company, announced on Monday that it had signed a contract for the construction of a number of cable-laying ships with Dutch maritime firm Royal IHC. OMS stated in a press release…

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