As public health measures to contain the devastating impact of COVID-19 placed 4 billion people and a myriad of global industries on lockdown, the commercial impact suffered by the shipping industry has been immense. A common feature across the entire spectrum of ships that operate in our colossal industry is that there are significantly more …
Shifting oil product trade flows have implications for the way the market assigns value to tanker routes. In a two-part series, S&P Global Platts shipping editors look at the impact of new trends in fuel demand and supply on both sides of the Atlantic. Trans-Atlantic product tradeflows are losing market share to Latin American-bound voyages …
New waves in freight, part I: USGC-Brazil route emerges as barometer for tanker market Read More »
Gard’s role as Claims Lead for Hull & Machinery, and P&I insurer M/V KAAMI was on a voyage from Drogheda, Ireland to Slite, Sweden with a cargo of 1,927 metric tons of solid recovered fuel (SRF) pellets in bulk when she ran aground. Our client, Bergen based vessel owner Misje Rederi, notified Gard Marine & …
Casualty response and sustainable solutions amidst a pandemic Read More »
An unraveling of floating storage contracts set up in the second quarter of 2020 has exacerbated typically weak third quarter clean tanker spot rates, Robert Bugbee, CEO of Scorpio Tankers, said during the company’s Q2 earnings call Aug. 6. Executives on the call said, however, that increasing refinery utilization and improving demand globally indicated a …
Destocking clean tankers flooding market, depress Q3 freight: Scorpio Read More »
The International Propeller Club of the United States has requested that Congress appropriate $3.5 billion for the relief and support of the U.S. maritime industry during the COVID-19 pandemic. Niels Aalund, International President, has contacted the leadership of the U.S. House of Representatives and the U.S. Senate to let them know about the impact that …
$3.5 Billion requested for COVID-19 relief for U.S. maritime industry Read More »
World Ocean Council Encourages Industry Participation in Study of Ocean Measurement, Observation and Forecasting Business Activity in U.S. The U.S. Integrated Ocean Observing System (IOOS) and National Oceanic and Atmospheric Administration (NOAA) are calling for input from businesses who provide infrastructure or products that support or conduct ocean observation and measurement by participating in the …
GoodBulk Ltd. (“GoodBulk” or the “Company”) (N-OTC: BULK), a leading owner and operator of dry bulk vessels, today announces its financial results for the second quarter 2020. 2nd Quarter Highlights • Generated $7.2 million EBITDA and $5.8 million of net loss, after $10.1 million depreciation, resulting in loss per share of $0.19. • Delivered M/V …
GoodBulk LTD. announces 2nd quarter 2020 Financial Results Read More »
Overseas Shipholding Group, Inc. (NYSE: OSG) (the “Company” or “OSG”), a provider of energy transportation services for crude oil and petroleum products in the U.S. Flag markets, today reported results for the second quarter of 2020. Highlights • Net income for the second quarter 2020 was $6.4 million, or $0.07 per diluted share, compared with …
Overseas Shipholding Group Reports Second Quarter 2020 Results Read More »
La Dirección General Marítima (Dimar) a través de la Capitanía de Puerto de Buenaventura, adelantó una visita a la playa de La Bocana y sus alrededores con el objetivo de liderar una campaña de matriculación para las motonaves catalogadas como pesca artesanal; una actividad que formaliza su tránsito a lo largo del litoral Pacífico colombiano. …
DIMAR promueve la Seguridad Integral en las actividades de pesca artesanal Read More »
The Borssele III & IV offshore wind farm produced first power early in the morning on 7 August, the Blauwwind consortium informs. “This marks a key milestone in the construction of the project as the first turbine is now generating power and delivering renewable electricity into the Dutch grid”, the developer said. The first of …
