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Nigeria Oil Exports Continue to Climb
Nigeria issued its first Forcados oil loading plan since 2016, putting the nation's June oil exports on track to hit thier highest level in at least 15 months. The plan…
VLCC Rates Steady Ahead of Possible Rebound
Five/six charterers are making storage inquiries; near-term pressure on tanker rates to continue - Frontline CEO. Freight rates for very large crude carriers (VLCCs)…
PA Pipeline Spat Could Upend International Oil Flows
Refiners from the Midwest United States are fighting for access to a vital Pennsylvania pipeline – a move that could cripple their East Coast competitors and redraw…
Dozens of Migrants Rescued from Burning Rubber Dinghy
Dozens of migrants were rescued at the weekend after jumping from a rubber dinghy that had burst into flames as they tried to get to Spain across the Mediterranean Sea.
MSC Inks 35-year Deal to Run Ivory Coast Terminal
Mediterranean Shipping Company (MSC) has signed a 35-year concession agreement with Ivory Coast's second port of San Pedro to operate its container terminal as part of a deal to upgrade the facility…
Global Maritime Makes Two Hires in Asia Pacific
Global Maritime, a provider of marine warranty, dynamic positioning and engineering services to the offshore sector, has made two important hires to support its Asia Pacific (APAC) operations. Mei Ling Chan has been appointed as Regional Finance Manager for APAC where she will take responsibility for finance functions and reporting across the region; and Leong Weng Yoon has been named Global Maritime’s new HSEQ Manager for APAC.
VLCC Rates to Stabilise as Owners' Resolve Stiffens
VLCC's likely to struggle to break even for next two months; three-tier VLCC market weighs on sentiment. Freight rates for very large crude carriers (VLCCs) are…
Piracy Comes Back in Somalia
Piracy in Somalia is making a comeback and the Gulf of Guinea remains the world’s most active hotspot for crew kidnappings, UK Chamber of Shipping said quoting latest data.
A Hybrid Drive’s Digital Landscape
Hybrid drive and potential fuel savings are well known — from 10 to 30 percent, according to the sources we’ve written about over the years. Less known, is the potential need to purchase some sort of remote monitoring package to complement that diesel-electric or battery hybrid system from a system operator in order to secure the maximum safety benefits. As the count of system operators offering hybrid drives grows…
Somali Pirates Hijack Iranian Fishing Vessel
Somali pirates hijacked an Iranian fishing vessel on Tuesday to use as a base to attack bigger, more valuable ships, the mayor of a Somali town said, part of an…
Panama Frees Vessel Held in Western Sahara Claim
Panama authorities have released a Moroccan phosphate shipment from the disputed Western Sahara territory after it was temporarily held by a legal challenge from the Polisario independence movement…
Full Tanks & Tankers: A Stubborn Oil Glut Despite OPEC Cuts
After the first OPEC oil production cut in eight years took effect in January, oil traders from Houston to Singapore started emptying millions of barrels of crude from storage tanks. Investors hailed the drawdowns as the beginning of the end of a two-year supply glut - raising hopes for steadily rising per-barrel prices. It hasn't worked out that way. Now, many of those same storage tanks are filling back up or draining more slowly than investors and oil firms had expected…
VLCC Rates to Fall Further in Well-supplied Market
Freight rates for very large crude carriers (VLCCs) are set to slide further next week, falling below tanker break even costs on routes from the Middle East, as too many ships chase too few cargoes, brokers said on Friday. "In today's market Middle East charter rates are around $15,000 a day. Charter rates are still falling, still sliding. I'm not sure where the bottom is," a European supertanker broker said on Friday.
Euronav Bags Five-Year FSO Deals
Euronav's joint venture with International Seaways (INSW) has signed a contract for five years for the FSO Africa and FSO Asia in direct continuation of the current contractual service.
In Demand: Hoegh LNG’s Sveinung Stoehle
Satisfied with the recent opening of a new floating LNG import terminal in Turkey plus contract successes in Africa and Asia, Hoegh LNG CEO and president, Sveinung Stoehle, cautiously lets us into his stylish Oslo offices for a bit of “disclosure”. The Hoegh business model is winning out, and now six floating storage and regasification units, or FSRUs, are in operation with four newbuilds on the way.
Hapag-Lloyd Celebrates 125 Years in Montreal
125 years ago, the steamship “Cremon” set sail from Europe to Canada for the first time under the Hapag flag. Hapag-Lloyd will be celebrating this anniversary in…
Asia's Low-Carbon Shipping Mission
​A new regional centre, which will provide leadership in promoting ship energy-efficiency technologies and operations, and the reduction of harmful emissions from ships…
KotugSmit, MOL Team up for Smart Operations
Mitsui O.S.K. Lines, Ltd. (container, tanker, dry-bulk and car carrier divisions) and KOTUG SMIT TOWAGE (KotugSmit) signed long term towage agreements, effective early 2017. The two have agreed upon a long term towage contract for the ports of Rotterdam, Antwerp, Ghent, Terneuzen, Flushing, Bremerhaven, Hamburg, London and Southampton. With this strategic partnership, both organizations aim to boost…
Egypt Weans Itself off Foreign Gas
Egypt seeking to defer up to 25 LNG cargoes this year-trade; talks with trade houses and producers ongoing. Egypt is holding talks with its liquefied natural gas…
Yemen War Adds to Shipping Fears in Horn of Africa
Yemen's worsening conflict is contributing to a spike in piracy in the region, with Somali pirates taking advantage of a reduced international naval presence and more readily available weaponry to carry out attacks. "The regional instability caused by Yemen is important," Colonel Richard Cantrill, chief of staff with the European Union's counter piracy mission EU NAVFOR, told Reuters last week. Fighting…
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
