Tanker prices hit record highs, but sustainability in question

Currently, tanker asset prices are red-hot, with second-hand values and newbuilding prices at their highest levels in the last 15 years amid strong market fundamentals. While high freight rates and tight tonnage availability have underpinned second-hand values, the tight availability of shipyard facilities has inflated newbuild prices. Although the outlook for crude tankers remains bright …

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Navigating Through Global Trade’s Troubled Waters

Global trade stands at a critical juncture, buffeted by a series of unprecedented challenges that have tested the resilience of the globalized trade regime. From the disruptive impacts of Donald Trump’s trade wars to the pandemic-induced shocks to global demand, the intricate web of international commerce has encountered obstacle after obstacle. Notably, the maritime sector …

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Asia Fuel Oil-Cash differentials hold stable in thin trade

Cash differentials for fuel oil were little changed amid thin trade in Asia on Monday, while refining crack spreads were also rangebound from last week. Differentials for low-sulphur and high-sulphur grades held in steady discounts, though contango intermonth spreads narrowed for high-sulphur grades. Front-month cracks for very low sulphur fuel oil were at premiums of …

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FSRU for Asia’s gas-to-power project comes into operation

Mitsui O.S.K. Lines (MOL) has kicked off commercial operations for a FSRU to provide LNG to a power plant in West Java, Indonesia. The post FSRU for Asia’s gas-to-power project comes into operation appeared first on Offshore Energy.

Material uplift on the cards for Nigerian offshore gas field

The initial internal review of reinterpreted 3D seismic data for a field offshore Nigeria suggests a material uplift on its potential and value. The post Material uplift on the cards for Nigerian offshore gas field appeared first on Offshore Energy.

Governments could invest carbon tax revenues in shore power infrastructure, Interferry says

International ferry industry organization Interferry has urged governments and electricity utilities to prioritize investment in onshore power supply (OPS) development to help the ferry sector maintain its lead in maritime electrification and hybridization. The post Governments could invest carbon tax revenues in shore power infrastructure, Interferry says appeared first on Offshore Energy.

La Unión Europea y Guinea Bissau inician las negociaciones para renovar el protocolo de pesca

España, que cuenta con una veintena de buques en la zona, ha instado a la Comisión Europea a buscar una solución que permita la continuidad de la actividad de la flota al vencimiento del vigente acuerdo La Unión Europea (UE) y el Gobierno de Guinea Bissau iniciaron ayer, en Bruselas, la primera ronda de negociaciones …

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