Calcasieu Pass Louisiana LNG Plant to Start Commercial Operations Soon
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Three years after it shipped its first LNG cargo, and after a two-year dispute with its customers, Venture Global LNG will begin commercial operations at its Calcasieu Pass plant in Louisiana on April 15, the company said on Monday.Long-term customers including Shell and bp have been notified of the start of commercial operations, the company said.Venture Global's failure to move to commercial operations years after it started selling the superchilled gas on the spot market led to contract arbitration cases brought by some of the world's top oil and gas producers…
Woodside Eyes Partners for Louisiana LNG
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Woodside Energy has held talks with several potential buyers of stakes in its Louisiana liquefied natural gas plant, including Tokyo Gas, Japan's JERA and Saudi Aramco-backed MidOcean Energy, multiple sources told Reuters.The timing of the stake sale is a test case for buoyant market expectations around LNG with the return of Donald Trump to the U.S. presidency. Trump has said trade partners should buy more U.S. energy and issued several executive orders in his first weeks in…
USCG Safety Alert: Understand the Explosion Hazards of Shipping Coal
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On November 27, 2024, approximately 100 nautical miles off the coast of Virginia, a bulk carrier shipping a type of coal called “Bailey High Vol Coking Coal” experienced consecutive explosions in the two forward cargo holds. While still under investigation, the explosions are likely a result of the accumulation of methane gas that created an explosive atmosphere and resulted in significant damage to the two associated cargo holds. It was soon discovered that the other five cargo holds also had highly elevated levels of methane that were approaching the Lower Explosive Limit…
Stena Line Urged to Stop Transporting Unweaned Calves
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Ethical Farming Ireland has followed up a July 2024 open letter to Stena Line CEO Niclas Martensson with another signed by 18 NGOs across Europe asking the company to stop the export of unweaned calves from Ireland on its vessels.Every year, tens of thousands of calves - as young as 15-days-old - are sent on long journeys to mainland Europe. Most end up in inhumane veal farms in the Netherlands, says the NGO.Calves travel from Rosslare to Cherbourg port in crowded trucks. While being exported, unweaned calves cannot be fed because they are dependent on milk.
Only One Bid, DEME, for Argentina River Dredge Contract
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Belgian company DEME Group was the sole firm to bid in the Argentine government's tender for a major maintenance contract for the Parana waterway, a key route for grains transport, the government said on Wednesday.The bid could mark a major shakeup in dredging the river, part of a route from inland areas of Paraguay, Bolivia and southern Brazil out to sea. Argentina ships out some 80% of its massive farm exports along the waterway.Belgian rival Jan de Nul currently holds the concession to maintain the river and has for decades…
DESMI Acquires Nordan Marine
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DESMI, a global leader in pump and flow solutions, acquired Nordan Marine, a provider of service and repair solutions for cargo and fuel handling systems in the maritime sector. The move aims to bolster DESMI’s presence in the maritime industry, particularly in the growing market for LPG, LEG carriers, LNG, and alternative fuel-capable vessels.The acquisition aligns with DESMI's strategy to expand its gas cargo and fuel pump solutions portfolio, with a focus on supporting the transition to green fuels.
Belships Reports Strong Q4, Expanding Fleet
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Belships ASA, a leading shipowning company specializing in Ultramax vessels, reported solid financial results for the fourth quarter of 2024, showcasing the growth of its fleet and robust profitability amidst challenging market conditions.:Belships posted an EBITDA of $19.4 million and a net profit of $7.5 million for Q4 2024. Despite a softer freight market, the company achieved a time charter equivalent (TCE) of $15,552 gross per day for its owned fleet, outperforming the Baltic Exchange index for Ultramax vessels…
Large Vessel Rates Drives Baltic Index Down
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The Baltic Exchange's dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, retreated on Monday due to weaker larger vessel rates.The index .BADI, which factors in rates for capesize, panamax and supramax shipping vessels, fell 6 points to 809 points, snapping a six-session winning streak.The capesize index .BACI was down 30 points at 810 points.Average daily earnings for capesize vessels .BATCA, which typically transport 150,000-ton cargoes such as iron ore and coal…
Smuggled Horses Intercepted at Port
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Twenty horses have been found travelling on an illegal transport in horrific conditions, reports World Horse Welfare.Some of the horses are suspected of being smuggled for fattening and slaughter despite the ban on live exports in May 2024.Those on board included Irish Thoroughbreds, Connemaras and leisure ponies – alongside animals that were being moved legitimately.Many of the horses were too sick and weak to travel, yet had been crammed into an unsuitable lorry where one foal…
Tariffs Risk Working Against the Imposer’s Interests
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“When a country that exports large quantities imposes tariffs, it risks working against its own interests,” says Stamatis Tsantanis, Chairman & CEO of Greek shipping companies Seanergy Maritime and Maritime United.“Other nations adjust by sourcing commodities elsewhere. For example, the first time President Trump imposed tariffs on various goods, China responded by rerouting its imports of maize, corn, and grains to countries like Brazil and other parts of Latin America,” he says.“From a trade perspective, this pattern remains consistent.
Trump Pressures Iran; Iran Threatens Strait of Hormuz Closure
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U.S. President Donald Trump will restore his "maximum pressure" campaign on Iran and drive its oil exports down to zero, a U.S. official said on Tuesday.Iran has repeatedly threatened to close the Strait of Hormuz for traffic as a retaliation for Western pressure. That would shut down the region's trade and lead to a spike in oil prices.The Streit of Hormuz & OilThe strait lies between Oman and Iran and links the Gulf north of it with the Gulf of Oman to the south and the Arabian Sea beyond.It is 21 miles (33 km) wide at its narrowest point…
Flex LNG Time Charter Rates Beat Expectation
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Flex LNG Ltd. released its unaudited financial results for the fourth quarter and full year ended December 31, 2024, reporting a robust performance amid a challenging LNG shipping market.Flex LNG posted vessel operating revenues of $90.9 million for the fourth quarter, a slight increase from $90.5 million in the third quarter. Net income surged to $45.2 million, significantly up from $17.4 million in the previous quarter, translating into basic earnings per share of $0.84 compared to $0.32 in Q3.The company reported an average Time Charter Equivalent (TCE) rate of $75…
Russia Seaborne Diesel Exports Rise
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Russia's seaborne diesel and gasoil exports rose almost by a quarter in January from December as traders sought to increase supplies before new U.S. sanctions come into effect and amid seasonal low domestic demand, LSEG and market sources data show.The U.S. Treasury announced sweeping new sanctions against the Russian energy sector on Jan. 10, targeting two major oil companies, dozens of traders and some 180 vessels.A transition period allows cargoes to be discharged from sanctioned tankers until Feb.
Summing Up the U.S., the Panama Canal and China
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Some U.S. lawmakers and officials are touting a nearly half-century-old treaty between the United States and Panama to justify the Trump administration's threat to reclaim the Panama Canal - provided it can show the strategic waterway's operation is under threat.Others, however, say hurdles would loom for any bid to use the 1977 Panama Canal Neutrality Treaty, which took effect in 1999 and guarantees that the canal would remain neutral and open to all ships from all countries, as a pretext for the U.S. to seize it.The 82-km (51-mile) waterway's construction was completed by the U.S.
U.S. Shipping Invests $150 Million in Great Lakes Region
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With winter in full swing, the U.S.-flagged fleet of Lakers have tied up in ports across the Great Lakes region to perform critical maintenance before the navigational locks in Sault Ste Marie, Michigan reopen on March 25th.Hundreds of skilled shipyard workers will flock to the area to support the nearly $150 million maintenance investment being made on these massive ships. The state receiving the largest amount of work is Ohio with $51.5 million, followed closely by Wisconsin at $51 million…
US: China's Panama Canal presence "a security concern"
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China's presence around the Panama Canal is a national security concern that Panama's government has to deal with, Mauricio Claver-Carone, the U.S. special envoy for Latin America, said on Friday, ahead of U.S. top diplomat Marco Rubio's visit to the country.Rubio will depart on Saturday on his first foreign trip, with a scheduled visit to the canal and a meeting with Panamanian President Jose Raul Mulino, the first talks between the countries since President Donald Trump's threat to take control of the U.S.-built canal.Rubio will also visit El Salvador…
Lake Victoria's First Ro/Ro Vessel Sets Sail
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East Africa Marine Transport has taken a significant step towards creating a more sustainable and efficient logistics solution for Lake Victoria with the commissioning of M.V. MPUNGU, the lake’s first scheduled roll-on / roll-off freight vessel.Offering faster and safer crossings and reduced carbon emissions, the fuel-efficient vessel is set to transform regional trade by cutting journey times from days to hours and supporting the decarbonisation of the region’s transport sector.Owned by East Africa Marine Transport (EAMT) and operated by Grindrod Logistics Africa - Uganda (GLAU)…
McQuilling Weighs in on 2025-2029 Tanker Outlook
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McQuilling Services announced the release of its 28th anniversary edition, 2025-2029 Tanker Market Outlook.This 183-page report provides a detailed analysis of oil fundamentals, global economic and geopolitical context in addition to tanker demand and supply projections across eight vessel classes. The interaction of tanker demand and vessel supply variables is processed using advanced quantitative modeling to produce a five-year spot and time charter equivalent (TCE) forecast for eight vessel classes across 27 benchmark tanker trades, plus five triangulated trades.
Baltic Index snaps 13-day losing streak
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The Baltic Exchange's dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, snapped a thirteen-day losing streak on Friday, supported by strong rates across the capesize and panamax vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 20 points to 735 points, recording gains for the first time since Jan. 13. The contract was down 8.1% this week.The capesize index gained 33 points to 874 points.
Xeneta: Ocean Box Rates to Fall Again in February
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Middle East ceasefire and Lunar New Year will see ocean container freight rates fall further in February - with carriers now taking action to slow the market decline.Latest data from Xeneta – an ocean and air freight intelligence platform – shows average spot rates from the Far East stand at USD 3 795 per FEU (40ft container) into North Europe and USD 5 085 per FEU into the Mediterranean – down 22% and 13% respectively since 1 January.Early data suggests spot rates will fall further on 1 February…
Port of Oakland records 2.26 million TEUs in 2024
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The Port of Oakland experienced a solid 2024, processing 2.26 million TEUs (twenty-foot containers), representing a 9.5% increase over 2023.The 2024 cargo data reflects a long-term growth trend in consumer spending in the San Francisco Bay Area and in the rest of the country.“Consumer demand has remained resilient, driving higher import volumes through the Port,” said Port of Oakland Maritime Director Bryan Brandes. “This performance underscores the port’s strong foundation for continued growth and its critical role in global trade.”On the full container side…
Germany builds up LNG import terminals
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Germany is expanding its natural gas import options to replace Russian supply, a drive intensified by the latest suspension of Russian flows via Ukraine and U.S. President Donald Trump targeting Europe with liquefied natural gas exports.Plans also include shore-based regasification terminals and facilities to import and produce ammonia and green hydrogen under decarbonization strategies. A synopsis of changes and additions to Germany's energy plans and infrastructure is listed below:MUKRANMukran…
Port Protests Do Not Stall Oil Loadings in Libya
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Libya's National Oil Corporation (NOC) said oil exports were continuing without disruption following talks with protesters at the Es Sider and Ras Lanuf ports on Tuesday."Operations are proceeding smoothly across all fields and ports after discussions with protesters who held demonstrations this morning at the Es Sider and Ras Lanuf ports," the NOC said in a statement on its Facebook page.According to five engineers and a shipping source, protesters had temporarily blocked oil loadings at the ports.