Product tanker freight rates have drifted from strong refining margins as a near-total collapse in Persian Gulf refined product flows overwhelms any ton-mile benefit from supply diversification, Heidmar Maritime Holdings Corp. CEO Pankaj Khanna has told Platts. With the product tanker fleet potentially expanding 30% and limited scrapping expected, the imbalance could weigh on freight …

Heidmar CEO sees product tanker freight lag refining margins Read More »

Government ministers in Bangladesh have welcomed efforts to establish the country’s first Treatment, Storage and Disposal Facility (TSDF) for hazardous waste, supported by a comprehensive feasibility study led by IMO’s SENSREC Project. The TSDF, planned for the Mirsarai Economic Zone, will be used to safely treat and dispose of hazardous industrial waste, including waste from …

Bangladesh advances plans for hazardous waste management Read More »

A tanker was struck in the Strait of Hormuz on Friday, causing a fire that was extinguished, according to the United Kingdom Maritime Trade Operations (UKMTO). “The CSO of a vessel has reported a tanker being hit by an unknown projectile, causing a fire onboard which has since been extinguished,” the maritime monitor said, adding …

Tanker struck by ‘unknown projectile’ in Hormuz: British maritime agency Read More »

A persistent lack of resolution in the Middle East conflict has kept Brent crude’s price well above the $105/bbl mark. A fire broke out onboard the Panama-flagged MT El Gaia on Sunday after it came under an attack off the coast of Oman. India’s Ministry of External Affairs condemned the attack on the commercial vessel, …

Iran war: Regional conflict sees no signs of de-escalation Read More »

New analysis from Sofar Ocean finds that widely used marine forecasts can miss wave conditions associated with dangerous vessel rolling and cargo losses. Most forecasts tell ships how high waves will be. But height alone doesn’t identify the impact on a ship. Wave period and direction, together with the vessel’s heading, speed, and loading, can …

New Analysis Links Marine Forecast Gaps To Dangerous Vessel Rolling And Cargo Loss Read More »