Substantial cut in Ukraine’s exports through the safe passage and subsequent re-direction of exports through alternate routes will likely exacerbate the subdued dry bulk market. Additionally, a large quantity of Ukraine’s grain will end up in EU, while China, which is one of the major trade partners of Ukraine, will source more from Australia, hurting …
End of the Black Sea Initiative: For Bad or Worse? Read More »
Almost 30 ships dropped anchor near Ukraine’s crucial Izmail port terminal after Russia destroyed grain warehouses on the Danube river on Monday, data showed, although it was unclear exactly what had caused them to stop. Monday’s pre-dawn Russian air strikes wounded seven people and hit infrastructure along the Danube, a vital alternative route for Ukrainian …
Nearly 30 ships stop around Ukraine’s Izmail gateway after Russian Danube strikes Read More »
The refining margin for very-low sulphur fuel oil (VLSFO) edged slightly higher on Monday after its recent tumble to more than two-year lows. The front-month crack spread for 0.5% VLSFO closed higher at a premium of $6.72 a barrel by 0830 GMT. Meanwhile, cash differential for 0.5% was pegged at a discount of $2.40 a …
Asia Fuel Oil-VLSFO margin rebounds after sliding to more than two-year low Read More »
Watson Farley & Williams (“WFW”) has advised DNB Bank ASA (“DNB”) on the first-of-its-kind US$900m restructuring of international shipping company Vroon’s senior secured debt by way of a debt-for-equity swap. The restructuring was implemented using an English scheme of arrangement and a Dutch WHOA procedure, the first time that these two restructuring procedures have been …
WFW advises DNB on landmark US$900m Vroon restructuring Read More »
Rotterdam Shortsea Terminals (RST) and Dutch logistics company Samskip have launched Green Shore Power initiative, which aims to reduce CO2 emissions produced by vessels docked by providing new clean shore-powered energy solutions. Samskip As informed, the launching took place on 21 July where delegations from Samskip, RST, Port of Rotterdam (HBR), Municipality of Rotterdam and HES …
RST and Samskip launch 1st shore power green initiative Read More »
Singapore-based Eastern Pacific Shipping (EPS) and China Power International Development Limited have signed a Framework Cooperation Agreement (FCA) to collaborate on the production of green energy and renewable fuel solutions. Under the FCA, the two parties will cooperate to advance the development and adoption of energy solutions for the maritime industry, including green ammonia and …
EPS and China Power ally on green energy solutions for maritime industry Read More »
Scottish marine energy company QED Naval has welcomed several new members to its team to further advance its tidal energy business and projects. Illustration/Subhub platform (Courtesy of QED Naval) QED Naval welcomed Andrew Burton and Andy Green to its team, who both bring years of tidal systems deployment and maritime operations experience to the company. …
Hydro testing of the tank at the site of Canada’s first LNG export facility, the Shell-led LNG Canada project in Kitimat, British Columbia, has been completed. Courtesy of LNG Canada The procedure, also known as hydrostatic testing, ensures LNG tank safety and reliability, and regulatory compliance. The event included pumping 170,000 cubic metres of water- …
As scorching heatwaves engulf the globe, climate change concerns gain prominence, urging the world to make good on its low-carbon and green energy aspirations by accelerating the buildout of a sustainable energy mix. Multiple sources of supply vie for attention in the journey to net-zero, with renewables being crown jewels while boosting energy efficiency, nuclear, …
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