The giant container ship that blocked the Suez Canal for six days was freed Monday, but another bottleneck in the supply chain remains, this one in Southern California. On Monday morning, 24 container ships—with a combined maximum carrying capacity nearly 10 times that of the newly freed ship—were anchored off the coast waiting for space …
America’s Imports Are Stuck on Ships Floating Just Off Los Angeles Read More »
A huge container ship that has been wedged in the Suez Canal since Tuesday has finally been freed from the shoreline. Peter Berdowski, chief executive of Dutch salvage company Boskalis, said the Ever Given had been refloated at 15:05 (13:05 GMT) on Monday, “thereby making free passage through the Suez Canal possible again”. However, it …
Suppliers in Houston generally have stems of all grades available on short notice. Certain suppliers have tight schedules for dates at the start of the new month. Sea fog and poor visibility shut the Houston Ship Channel temporarily this week, delaying some vessels from entering bunker ports in the area, including Houston, Texas City, Baytown …
ENGINE: Americas Bunker Fuel Availability Outlook Read More »
The technology group Wärtsilä has signed long-term Optimised Maintenance agreements covering five LNG Carrier vessels owned and operated by Greece-based Minerva Gas Inc. The advanced support package embodied in these agreements is designed to ensure operational certainty with budgeted maintenance costs. The agreements were signed in March 2021. Included in the scope of the agreements …
As a result of successful joint venture as pool managers, we are pleased to announce that we have agreed to expand our services to “MaruKlav 2.0” offering pool partners the option to convert freely between floating and fixed rate, at any given time, in line with forward market levels. The structure allows owners to take …
Marubeni and Klaveness extend the scope of joint venture Read More »
Logistics operators are bracing for a cascade of sea containers that bring new congestion to supply chains as shipping networks work through backlogs from the Suez Canal blockage. Some companies are reserving truck transport for inland European destinations several weeks ahead of time or leasing additional shipping containers to ensure exporters can get goods on …
Freight Companies Brace for Post-Suez Port Backups Read More »
CRYO Shipping is establishing LNG bunker service in South East Asia, and last week another LNG bunkering was completed by CRYO in the Singapore Strait. Altera Infrastructure’s (former Teekay) newest shuttle tanker, M/T Altera Wind, received almost 1,900 cbm of LNG fuel from CRYO Shipping. This is Altera’s second shuttle tanker to be supplied with …
CRYO sets up LNG bunker service in South East Asia Bergen Read More »
S&P Global Platts (“Platts”), the leading independent provider of information, analytics and benchmark prices for the commodities and energy markets, has launched new daily Time Charter Equivalent (TCE) assessments on four key Aframax routes originating in Europe, effective April 1, 2021. Peter Norfolk, Editorial Director, Global Shipping & Freight, S&P Global Platts said: “The European …
The blockage of the Suez Canal is likely to lead to large reinsurance claims, adding to upward pressure on marine reinsurance rates, James Vickers, chair of reinsurance broker Willis Re International, told Reuters. Formal investigations began this week into how the giant container ship Ever Given ran aground in the canal, shutting down shipping in …
Suez blockage may lead to large reinsurance claims, broker Willis Re says Read More »
The same cast of characters has been in tanker circles for years. If their company goes bust, they pop up somewhere else. Sometimes they fight with each other. Sometimes they cooperate. Occasionally, they sell their entire fleets to one another (and re-emerge after their non-competes expire). One such rare fleet deal was announced Wednesday morning: …
Another shipping stock bites the dust as big tanker fleets merge Read More »
