The Baltic Exchange’s dry bulk sea freight index was mostly unchanged on Tuesday after a climb in capesize rates was countered by declines for all other vessel classes. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 1 point, or 0.1%, at 2,093. But the index ended 2023 …
Baltic index steady as lower rates for smaller vessels counter capesize gains Read More »
In 2023, Europe agreed that its planes and ships would run on green fuels in the future. It’s a huge step forward for these polluting sectors, but it risks being undermined by lobby groups wanting to use clean fuels to power cars and trucks and by airlines buying unsustainable biofuels. Unless we build revolutionary ships …
Transport & Environment: Europe wins big on green fuels for planes and ships Read More »
Asia’s fuel oil market could come under pressure in 2024 as Kuwait exports are set to rise while Russian supplies to China and India will stay elevated, traders and analysts said. Prices of very low sulphur fuel oil (VLSFO) will hinge on exports from Kuwait’s Al Zour refinery, while prices of high sulphur fuel oil …
Asia fuel oil market to soften in 2024 on Kuwait, Russia supply Read More »
Maersk will pause all shipping through the Red Sea and Gulf of Aden until further notice after one of its vessels came under attack from militants over the weekend, the company announced on Tuesday. The decision by the Danish shipping giant extends a 48 hour pause implemented on Sunday in the immediate aftermath of the …
Maersk halts Red Sea shipping until further notice after Houthi militant attack Read More »
Asia’s fuel oil markets started the first trading day of 2024 on a stronger note, with backwardation firming from last week. Prompt intermonth spreads for all key fuel oil grades widened from the previous week, data from trade sources showed. Some competitive bids also emerged on the high-sulphur spot market, in turn buoying cash premiums …
Asia Fuel Oil-Markets kick off new year on stronger note Read More »
Expertise from Campbell Johnston Clark (CJC) in transactions governed by Marshall Islands law has been pivotal in completing Cadeler’s acquisition of fellow offshore wind turbine installation company Eneti. A vote held at a special meeting of Eneti stockholders on December 29, 2023 completed the merger of Eneti and Cadeler subsidiary Wind MI Limited. The vote …
CJC supports Cadeler in consummation of Eneti merger plan Read More »
With energy security running the show, multiple new oil and gas projects were sanctioned throughout 2023. Among the top eight are the ones operated by TotalEnergies, Shell, ExxonMobil, Equinor, Woodside, OMV Petrom, and ADNOC. Dover is a planned subsea tie-back to Appomattox, a Shell-operated production hub in the U.S. Gulf of Mexico; Source: Shell The …
Round up: Major multi-billion oil & gas projects greenlighted in 2023 Read More »
After pouring over the available day rate information within fleet status reports from three offshore drilling giants – Transocean, Noble Corporation, and Valaris – three rigs stand out as the highest-paid ones during the second half of 2023. Unsurprisingly, all three spots were taken by drillships. Deepwater Titan drillship; Source: Transocean With offshore rig scrapping …
Offshore drilling highlights: Top paid rigs in 2H 2023 Read More »
In the maritime realm, 2023 has been a year marked by transformative projects and announcements, on both the regulatory side, ship designing, and shipbuilding front as well as demand signals for the production of alternative fuels. Amidst geopolitical turbulences in the Middle East, the ongoing conflict in Ukraine, and the lingering aftermath of the COVID-19 …
2023 in review: A transformative year for shipping and maritime Read More »
Shell Offshore Inc., a subsidiary of the UK-headquartered energy giant Shell, has picked Singapore’s Seatrium, previously known as Sembcorp Marine, for the construction and integration of the hull, topsides, and living quarters of a new semi-submersible floating production unit (FPU) destined for the oil major’s recently sanctioned deepwater development in the U.S. Gulf of Mexico. Sparta FPU; …
Shell hands out work for its new Gulf of Mexico FPU to Seatrium Read More »
