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US LNG Exports Through Panama Canal Shrink, Asia-Europe Spreads Widen
The number of U.S. liquefied natural gas (LNG) vessels transiting the Panama Canal to Asia halved in November compared with a year ago as Asia prices for the gas this week traded at their steepest premium to European prices in nearly two years.A severe drought has cut vessel traffic through the canal, increasing costs for shippers that take alternative routes or pay extra fees for auctioned slots in Panama.
OpEd: Shipping Seeks Safe Waters in Era of Deadly Geopolitics
As tankers, car-carriers and other merchant vessels pass through the Malacca Strait, unlit fishing boats criss-cross the shipping lanes at night, making it one of the most challenging sea areas of the world to transit, even during peacetime.Should a major war ever come to Asia, those challenges could be magnified spectacularly, with hundreds of vessels abruptly leaving the international waters in the…
Russia Pledges More Oil Data to Ship Trackers
Russia has pledged to disclose more data about the volume of its fuel refining and exports after OPEC+ asked Moscow for more transparency on classified fuel shipments from the many export points across the vast country, sources at OPEC+ and ship-tracking firms told Reuters.Russia is the only member of OPEC+ which contributes to export cuts rather than production cuts as part of its participation in the group's agreement to curb supplies.
War Risk Insurance Rates Edge Up After Surge in Red Sea Ship Attacks
War risk insurance premiums edged up for Red Sea voyages after three vessels were attacked in the area on Sunday and fears grow over worsening perils for commercial shipping, maritime and insurance sources said on Monday.The incidents are the latest in a series of attacks in Middle Eastern waters since a brutal war between Israel and the Palestinian Islamist group Hamas broke out on Oct. 7.The three commercial vessels came under attack in international waters in the southern Red Sea, the U.S.
Phase II of IMO’s Maritime Technology Cooperation Centre Project Announced
The IMO and the European Commission (EC) have announced a second phase of the Global Maritime Technology Cooperation Centres Network (GMN) project, with funding from the EU.The aim of the second phase is to upscale the work of the five regional centres, with a particular emphasis on pilot demonstrations aimed at achieving quantifiable reductions in GHG emissions.The GMN Phase II project follows the successful Phase I which established the five Maritime Technology Cooperation Centres (MTCCs)…
Boeckmans to Build Four Hydrogen-Powered General Cargo Vessels
CMB.TECH and Antwerp-based shipowner Boeckmans have announced plans to build four hydrogen-powered 5,000dwt general cargo vessels.The first vessel is expected to be delivered in the second half of 2025. The vessels will be built at the Dung Quat shipyard in Vietnam and will be deployed on major sea routes, including northern Europe, the Mediterranean, North Africa and West Africa.The general cargo vessel…
Equinor Sells Nigerian Business to Chappal Energies
Equinor and Chappal Energies have entered into an agreement for the sale of Equinor Nigeria Energy Company (ENEC), which holds a 53.85% ownership in oil and gas lease OML 128, including the unitised 20.21% stake in the Agbami oil field, operated by Chevron.Equinor has been present in Nigeria since 1992 and has played a significant role in developing Nigeria’s largest deep-water field, Agbami. Since production started in 2008…
CMB.TECH, Boeckmans to Build Four Hdrogen-Powered Cargo Ships
CMB.TECH and Boeckmans will build four hydrogen-powered 5.000-dwt general cargo vessels with reduced greenhouse emissions.The first vessel is expected to be delivered in the second half of 2025. The vessels will be built at the Dung Quat shipyard in Vietnam and will be deployed on major sea routes, including northern Europe, the Mediterranean, North Africa and West Africa.The general cargo vessel, designed jointly with Handelskade…
Report Highlights EU Live Animal Transport Issues
A new report provides insights into animal welfare issues during transport within and from the EU.Around 44 million farmed animals a year are transported, including unweaned calves and lambs on journeys from Europe lasting up to three weeks.Inadequate and misleading official records are masking the true horror and scale of the EU’s long-distance trade in farmed animals, say the international NGOs Eurogroup for Animals and Compassion in World Farming, on release of the report.
Coal Shipments to Advanced Economies Down 17%
“In the first 10 months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electricity produced using renewable energy rose. Also slowed economic activity and high energy prices affected electricity demand,” says Filipe Gouveia, Shipping Analyst at BIMCO.Between January and August, electricity production in advanced economies fell by 4% y/y, according to data from the International Energy Agency.
FLNG Gimi Delivered and Sailing to Africa
Golar LNG has announced that the FLNG Gimi has departed Singapore’s Seatrium Shipyard and is now sailing under its own propulsion, supported by an escort tug, toward BP’s purpose-built Greater Tortue Ahmeyim (GTA) hub offshore Mauritania and Senegal.The voyage is expected to take around 60 days, including refuelling stops in Mauritius prior to rounding the Cape of Good Hope and in Namibia prior to its arrival.
Marsh, Lloyd's, Ukraine Launch War Risk Ship Insurance to Cut Grain Costs
Insurance broker Marsh MMC.N, Lloyd's of London insurers and Ukrainian state banks have launched a programme to cut the cost of claims for damage to ships and crew transporting grain through the Black Sea corridor, Marsh said on Wednesday.Kyiv launched a "humanitarian corridor" in August for ships bound for Africa and Asia to circumvent a de facto blockade in the Black Sea after Russia quit a United…
Monjasa Acquires Two Tankers
Monjasa remains active in the market for secondhand tonnage following the acquisitions of three tankers earlier this year. The oil and shipping group on Thursday revealed additional ownership of the two tankers, Monjasa Leader (68,589-dwt) and Monjasa Refiner (13,051-dwt) for floating storage and bunker operations in West Africa.Monjasa recently took delivery of the two vessels Monjasa Leader (formerly Cabo San Antonio) in Algeciras…
Shell Sues Greenpeace for Boarding Penguins FPSO While in Transit
Shell is suing Greenpeace for $2.1 million in damages after the environmental group's activists boarded the company's oil production vessel in transit at sea this year, according to Greenpeace and a document seen by Reuters.The British oil and gas major filed the claim in London's High Court. Greenpeace activists boarded the vessel in January near the Canary Islands off the Atlantic coast of northern Africa to protest oil drilling and traveled on it as far as Norway.In an email to Reuters…
Varamar, COSCO Shipping Enter Strategic Commercial Partnership
Varamar DMCC has entered into a strategic commercial partnership with ASL Shipping & Logistics Pvt Ltd, a COSCO Shipping Group company, with the aim of helping both companies to strengthen their respective trades.Varamar, a liner and tramp carrier that specializes in breakbulk, dry-bulk, oversized, and containerized cargo, has historically focused on trade lanes connecting Europe with the Middle East, Asia, and the Far East, while also trading to Africa and the Americas.
Brazilian Offshore Uptick Could Tighten US OSV Fleet
Increased activity in the Brazilian offshore oil and gas sector could help strengthen the market recovery for offshore supply vessels (OSV) in the U.S. Gulf of Mexico.In early October, Brazilian state-owned oil company Petrobras issued requests for quotations (RFQ) for up to 20 OSVs ranging from 3,000 to over 4,500 deadweight tons to support upcoming drilling and production activities. The value of…
Shapoorji Pallonji Energy Secures ABS AiP for Next-Gen FPSO Hull Design
Shapoorji Pallonji Energy Pvt Ltd (SP Energy) said Monday it had obtained a Class Approval-in-Principle for the Concept and Design Basis of its FPSO Newbuild Hull from the American Bureau of Shipping (ABS). SP Energy has been working on the concept design of ‘STERLING STREAMLINE’, described as a new generation of its standardized newbuild hull concept design for large FPSOs, since July this year. According to SP Energy…
New Head for Glamox’s Marine, Offshore, and Wind (MOW) Division
Lighting solutions specialist Glamox said Wednesday that Tommy Stranden would replace Håkon Helmersen as Chief Sales & Commercial Officer for Glamox’s Marine, Offshore, and Wind (MOW) division.Stranden (46) is the general manager for MOW’s Northern Europe business. He joined Glamox from NOV in January 2018 and has led MOW’s Northern European business with international responsibilities for Scandinavia, the UK, the Middle East, India, Africa, Australia, and South America.
Tanzania Inks Deals with DP World to Operate Dar es Salaam Port Berths
Tanzania on Sunday signed agreements with Dubai state-owned ports operator DP World to operate part of the Dar es Salaam port for 30 years, a deal that has previously been opposed by Tanzania opposition and rights groups.Plasduce Mbossa, director general of state-owned Tanzania Ports Authority (TPA) which currently manages the port, said DP World will lease and operate four of the 12 berths at the…
Growing Tanker Fleet, Cheaper Freight Challenge Russian Oil Price Cap
Russian crude oil producers are enjoying the cheapest costs to ship to refiners in China and India in almost a year thanks to a growing number of vessels plying the routes…
Maritime Piracy
Houthi Rockets Wreak Havoc on Middle East Container Shipping
Narco-Submarines: The Hidden Depths of Drug Trafficking
Drug Smuggling on Ships and Submarines: An Escalating Threat
Maersk revises profit forecast upwards due to robust demand and disruptions in the Red Sea.
Global Shipping Carriers Are Feeling the Impact of the War in Ukraine and the Middle East
Maritime Piracy in the Horn of Africa:
Houthis Declare All-Out War on Israeli Shipping, Vowing to Strike Beyond Red Sea
Injustice at Sea: Greek Court Drops Charges in Deadly Migrant Shipwreck
