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Asia Fuel Oil-HSFO discounts narrow slightly, while VLSFO remains weak

Spot discounts for high sulphur fuel oil (HSFO) narrowed slightly on Friday, while very low sulphur fuel oil (VLSFO) retained downside risk. Singapore’s cash differential for 380-cst HSFO was pegged at a narrower discount of $1.85 a metric ton, with inter-month spreads recovering slightly. Meanwhile, spot VLSFO differentials remained below discounts of $1 a metric …

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Maersk North America Market Update

Ocean and Key Ports Update Situation in Baltimore In the early hours of 26 March 2024, a vessel collided with the Francis Scott Key bridge, resulting in damage to the structure. We can confirm that the container vessel “DALI”, is owned by Grace Ocean, and operated by Synergy Group. It is time chartered by Maersk …

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Great Eastern Shipping Company expands fleet with acquisition of Jag Priya

Great Eastern Shipping Company took delivery of a 2010 built Medium Range product tanker Jag Priya of about 49,999 dwt. The Company had contracted to buy the vessel in Q4 FY24. Including this vessel, the Company’s current fleet stands at 43 vessels, comprising 29 tankers (6 crude carriers, 19 product tankers, 4 LPG carriers) and …

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Coastal Sustainability Alliance Commences Building of Largest Local Design-Build-Deployed Electric Tug and Supply Boat

The Coastal Sustainability Alliance (CSA), an industry collaborative effort led by Kuok Maritime Group (KMG), announced the commencement of shipbuilding of the first fully electric PXO tug (e-tug) and supply boat (e-supply boat) by PaxOcean Group. This marks a milestone in the collective industry effort to accelerate coastal decarbonisation, transition to a circular economy and strengthen marine supply chains. These …

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Rise in protectionism will benefit forwarders and 3PLs as SMEs seek competitive support

Small and medium-sized companies could be increasingly pushed out of international trade by giant corporations if the rise of protectionist trade policies continues, according to Marc Levinson, a leading author, historian and economist who specialises in trade. He told the latest episode of The Freight Buyers’ Club podcast that the largest businesses have the economies …

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ClassNK awards approval in principle (AiP) for methanol fuel supply system developed by Mitsui E&S Shipbuilding

ClassNK has awarded an approval in principle (AiP) for a methanol fuel supply system developed by Mitsui E&S Shipbuilding Co., Ltd. Methanol is considered one of the promising alternative fuels for decarbonization, and a significant reduction in GHG emissions on a lifecycle basis is expected by using green methanol such as sustainable biomass-derived bio methanol …

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Ulstein lays keel for newly named Nexans cable laying vessel

Norwegian shipbuilder and ship designer Ulstein Verft has held the keel laying ceremony for […] The post Ulstein lays keel for newly named Nexans cable laying vessel appeared first on Offshore Energy.

ExxonMobil greenlights its $12.7 billion oil project offshore Guyana and firms up FPSO deal with SBM Offshore

ExxonMobil has decided to move forward with the development of its sixth deepwater oil project on the Stabroek block off the coast of Guyana. The post ExxonMobil greenlights its $12.7 billion oil project offshore Guyana and firms up FPSO deal with SBM Offshore appeared first on Offshore Energy.

CSA: Construction begins on electric tug and supply boat in Singapore

Construction has started on the first fully electric PXO tug (e-tug) and supply boat (e-boat) designed for Singapore’s waters, the Coastal Sustainability Alliance (CSA), an industry collaborative effort led by Kuok Maritime Group (KMG), said. The post CSA: Construction begins on electric tug and supply boat in Singapore appeared first on Offshore Energy.

Canada’s province clears World Energy GH2’s green hydrogen project

Newfoundland and Labrador has released World Energy GH2’s green hydrogen project from further environmental assessment. The post Canada’s province clears World Energy GH2’s green hydrogen project appeared first on Offshore Energy.

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