China’s flow of crude oil into storage accelerated in September, reversing two months of declines, as the world’s biggest importer of the fuel continued to work its way through massive volumes purchased during a brief April price war. The flow of crude into commercial and strategic stockpiles was about 1.75 million barrels per day (bpd), …
China crude storage flows accelerate as last of cheap oil offloads Read More »
As we enter the second half of October, with the darker evenings drawing in, minds will be focusing in on the end of the year and the start to another. It leaves us asking questions about where we are, what might happen and who that’s good or bad for. Or in the style of the …
On 3 August 2020, Scorpio Bulkers (SALT) announced the signing of a Letter of Intent (LOI) to construct a wind turbine installation vessel (WTIV), due for delivery in 2023 with the option for up to three additional vessels. The total cost of the project is expected to be in the range of USD 265-290 mn, …
Wind turbine installation vessel business – Reprieve or a debt trap for Scorpio Bulkers? Read More »
The Baltic Exchange’s main sea freight index that tracks rates for ships carrying dry bulk commodities fell for a tenth straight session on Tuesday, weighed down by weaker rates across vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 59 points, or 4.2%, at 1,350 …
Baltic index falls for 10th session on waning demand across vessels Read More »
Global ship management and marine support services provider V.Group and Costamare Shipping Company S.A. (“Costamare”) have announced they have strengthened and expanded their existing strategic partnership. The expanded strategic partnership will see V.Group providing a range of management and other marine services from Shanghai and Greece to 41 container vessels associated with Costamare Inc. and …
V.Group and Costamare Shipping Company S.A. expand existing strategic partnership Read More »
Leading maritime law firm Hill Dickinson is delighted to announce the hire of partner Ian Teare to the firm’s Marine and Trade practice with effect from January 2021. Ian joins from Wikborg Rein’s Singapore office where he has been both managing partner and led the casualty response practice for Asia. Following his return to Europe …
Members of global environmental movement Extinction Rebellion have dumped manure in front of BP’s offices in Aberdeen as part of its protest against the fossil fuels industry, accusing the oil major of greenwashing and gaslighting. Copyright Extinction Rebellion Extinction Rebellion Scotland on Tuesday kicked off the third week of direct action campaign Make The Connections …
The United States is sanctioning six Chinese entities and two individuals over business relations with Iranian shipping company IRISL and its subsidiary Hafez Darya Arya Shipping Company (HDASCO). The State Department designated IRISL and IRISL’s Shanghai-based subsidiary, E-Sail Shipping Company Ltd., in June 2020 on the grounds of reported proliferation-related conduct. IRISL has been accused …
US sanctions Chinese entities over ties with IRISL Read More »
Maritime safety authority Maritime New Zealand has accepted an enforceable undertaking (EU) from one of New Zealand’s biggest stevedoring companies, ISO Limited, after a near-fatal incident involving one of its workers in December 2017. As informed, the EU will cost ISO Limited NZ$425,000, plus financial amends made to the victim. The stevedore, who was trying …
NZ: Near-fatal incident results in 1st enforceable undertaking for maritime industry Read More »
Texas-based Pilot LNG executed a Heads of Agreement with GAC Bunker Fuels (GAC) for the supply of LNG as a marine fuel. Courtesy of Pilot LNG The liquefied natural gas will be supplied from Pilot LNG’s Galveston bunker port terminal project, which will be the first dedicated LNG bunker terminal in the region. The heads …
