Fuel oil refining margins logged a yearly increase in Asia, data from LSEG showed on Friday, though supply pressure is expected to weigh on cracks into 2024. Margins edged higher this year amid a broader recovery for refined fuels demand across Asia, while a lower crude oil price trend also contributed to higher margins. Front-month …
Asia Fuel Oil-Margins log climb in 2023; supply pressure weighs in 2024 Read More »
The European Commission recently published data from International Sustainability and Carbon Certification (ISCC) on the origins of used cooking oil (UCO) feedstocks being used to produce Europe’s biodiesel and hydrotreated vegetable oil (HVO) fuels in 2022. ISCC is a global certification system that sets standards for sustainable production, sourcing and trade of all kinds of …
Fraudulent origins suspected for 80% of the EU’s UCO imports – T&E Read More »
International cooperation successfully saved 19 distressed crew members, including 18 Chinese nationals and one Vietnamese national, in African waters on Wednesday. At around 10 pm on Tuesday, the China Maritime Search and Rescue Center of the Ministry of Transport received a distress call from the shipowner of the Panamanian bulk carrier Apollo Triumph. The vessel, …
Ship blaze crew rescued in waters off African coast Read More »
As 2023 draws to a close, the oft-predicted recession is still nowhere in sight and the S&P 500 index is flirting with a new all-time high. It was a strong year for ocean shipping stocks: They performed even better than the broader market. FreightWaves ranked 2023 shipping stock performance based on the change in the …
Shipping shares outpaced S&P 500 amid 2023’s rising stock market Read More »
Hapag-Lloyd HLAG.DE will continue to divert its vessels around the Suez Canal for security reasons, a spokesperson for the German container shipper said on Friday, adding a further assessment would be made on Jan. 2. Mitsui O.S.K. Lines 9104.T and Nippon Yusen 9101.T, Japan’s largest shipping companies, also said their vessels with links to Israel …
Hapag-Lloyd, Japanese shipping firms continue to re-route from Suez Canal Read More »
Thermal coal trade in Asia in 2023 is set to outpace 2022 by 17%, with the biggest driver of this rise being China’s stockpiling of coal, while Vietnam more than doubled imports in the first eight months of 2023, according to the latest Resources and Energy Quarterly report published Dec. 18. The report, which carries …
Asia’s thermal coal trade in 2023 to stay strong; world imports to drop in 2024: report Read More »
GAC Germany, a leading provider of shipping and logistics services in Northern Europe, is set to open a new office in Stade on 1 January 2024 as the company looks to expand its presence in the region to meet growing demand for services to support Germany’s shipping and energy sectors. With direct access to the …
A woman responsible for registering deaths and births at sea, who is “an incredible asset to the Maritime and Coastguard Agency”, has been recognised in the 2024 New Year Honours. Denise Cooke joined the Department for Transport, the MCA’s parent company, on 18 June 1980. More than 40 years later her service to maritime continues, …
Seatrium Limited (Seatrium, or the Group) is pleased to announce that its wholly-owned subsidiary, Seatrium Financial Services Pte. Ltd. (SFS) has secured a S$500 million committed revolving credit loan facility (RCF) arranged by DBS Bank Limited, The Hongkong and Shanghai Banking Corporation Limited (HSBC) and Standard Chartered Bank (Singapore) Limited. The RCF will provide additional …
La empresa española bound4blue, especializada en el desarrollo e instalación de sistemas de propulsión eólica auxiliar para buques, y la naviera francesa Louis Dreyfus Company han anunciado un acuerdo comercial para la instalación de cuatro velas de succión eSAIL a bordo de un buque tanque para el transporte de líquidos alimentarios. El buque elegido será el Atlantic Orchard propiedad …
Bound4blue instalará cuatro velas de succión a bordo de un buque tanque de Louis Dreyfus Read More »
