Asia Adjusts to Shifts in Heavy Crude Availability

Recent developments in oil production and export flows from Venezuela have prompted closer market attention on alternative sources of heavy and discounted crude, including supplies associated with Iran, as Asian refiners reassess sourcing strategies. Asian refiners continue to have access to a broad set of global suppliers. That said, refiners with higher exposure to Venezuelan …

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East/West HSFO paper spread nears 4-year high as West weakens, Singapore tightens

The East/West swap spread for high sulfur fuel oil climbed to its strongest level in nearly four years, reflecting a widening disconnect between a soft European complex and a firmer Asian market. Platts, part of S&P Global Energy, assessed the front-month paper East/West spread — the difference between 3.5% FOB Singapore cargoes and the equivalent …

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Shipping’s nuclear horizon

As the global shipping industry stares down the barrel of its decarbonisation gun, a propulsion technology that had fallen out of favour is making a return. According to a white paper released by DNV, nuclear propulsion is today no longer a “distant prospect” but a “real option” that could fundamentally reshape the commercial maritime fleet. …

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“Clear Policy Direction on Maritime Expansion and Inland Waterways Outlined in President’s Address”: Sarbananda Sonowal

Union Minister of Ports, Shipping and Waterways (MoPSW) Sarbananda Sonowal termed the President’s address to Parliament as visionary which has reinforced the government’s long-term policy commitment to strengthening India’s maritime sector, inland waterways and blue economy, describing it as a clear affirmation of the national strategy to build globally competitive logistics and shipping capabilities. “The …

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