Maritime data provider Alphaliner said in a report Wednesday that shipping lines have withdrawn vessels with capacity totaling about 3 million containers in efforts to conserve cash and maintain freight Continue Reading
The cutbacks are a sign of the varied impact coronavirus-driven restrictions are having on different parts of the U.S. economy. Supermarket chains and retailers with strong online operations are wrestling Continue Reading
Sea-Intelligence estimates the biggest international carriers will see combined losses ranging from $800 million to $23 billion this year, depending on how they manage the economic impact from widespread coronavirus-driven Continue Reading
Asian clean and dirty tankers have just had one of their best first quarters in years as traders rushed to store oil products on the water as the COVID-19 pandemic Continue Reading
Supertanker rates are surging again, for a second time this month, as a growing global glut is making more traders and companies look to charter carriers to store oil at Continue Reading
“In China we had a supply shock, a production shortage from closed factories and reduced truck numbers,” Jeremy Nixon, chief executive of Japan’s Ocean Network Express, the world’s sixth biggest Continue Reading
“In China we had a supply shock, a production shortage from closed factories and reduced truck numbers,” Jeremy Nixon, chief executive of Japan’s Ocean Network Express, the world’s sixth biggest Continue Reading
When Capt. Nilesh Gandhi’s oil tanker docked in coronavirus-ravaged China early last month, he understood that he would not be able to disembark and fly home as planned. He would Continue Reading
The largest oil supply surplus the world has ever seen in a single quarter is about to hit the global market from April, creating an imbalance of around 10 million Continue Reading
A shipping container shortage that’s left everything from Thai curry to Canadian peas idling in ports may be about to get a whole lot worse as China steps up its Continue Reading
Truck-stop restaurants in some states have shut dining rooms and switched to takeout service to comply with health orders aimed at controlling the spread of the virus. On Tuesday, Pennsylvania Continue Reading
As Saudi Arabia and Russia began an all-out oil price war for market share, the shipping industry is going through a supertanker run and charter rates for very large crude Continue Reading
Asian refiners are increasingly looking to book smaller tankers to load oil from the Middle East as the freight costs for chartering supertankers have surged after Saudi Arabia pledged to Continue Reading
Joe Brusuelas, chief economist for the consultancy RSM, was landing in Seattle about noon last Thursday when he noticed something odd from his plane window: There was only one ship Continue Reading
Covid-19’s effect on global energy markets has been disastrous. OPEC slashed its oil demand forecast last week, and Goldman Sachs doubled down on its bearish oil take and has cut Continue Reading
Five European and Asian container ship operators told the Journal they are preparing profit warnings for the first half or the full year. Newsletter Sign-up Asking not to be named, Continue Reading
More than 350,000 boxes have been removed from global trade networks since the disease broke out last month, Denmark-based maritime data provider Sea-Intelligence said Monday. China’s industrial sector is slowly Continue Reading
The coronavirus outbreak in China has forced several countries to resort to stringent quarantine checks in their battle to contain the spread and the measures are starting to have a Continue Reading
The results of a new analysis by the International Council on Clean Transportation (ICCT) show that, when combined with a trend toward higher methane leakage and combustion slip, there is Continue Reading
US Gulf Coast refined products market players have turned to Jones Act shipping in recent weeks as they seek an outlet for gasoline and ultra-low sulfur diesel barrels amid saturated Continue Reading
A new study by University Maritime Advisory Services ( UMAS ) and Energy Transitions Commission ( ETC ) prepared for the Global Maritime Forum for the Getting to Zero Coalition, Continue Reading
Weaker US Gulf Coast gasoline and ultra low sulfur diesel markets have left suppliers looking at unconventional avenues in search for more lucrative outlets of product, including exploring the idea Continue Reading
The shipping industry must spend at least $1 trillion on new fuel technology if it is to meet UN emissions targets by 2050. According to a new study by experts Continue Reading
The United States is sharpening its focus on enforcement of the IMO 2020 fuel sulfur emissions cap, which could result in harsh penalties for vessel operators caught attempting to sidestep Continue Reading
The number of vessels at the port of Hong Kong requesting for the debunkering of high sulfur bunker fuel has risen significantly this month, market sources said. Receive daily email Continue Reading
A major switch in maritime fuel aimed at reducing emissions from ships is proceeding smoothly, shipping executives say, with new blends available in most ports and operators reporting few problems Continue Reading
The cost to deliver commodities is set to rise as additional war risk premia on merchant ships in the Middle East has shot up significantly this week, while security concerns Continue Reading
Brazilian state-run oil firm Petrobras suspended its shipping routes through the Strait of Hormuz, including bunker hub Fujairah, as tensions in the Middle East escalate after a US drone strike Continue Reading
Amid the rising tension in the Middle East, Saudi Arabia’s tanker and logistics group Bahri has suspended transits through the Strait of Hormuz, the world’s most important oil chokepoint which Continue Reading
Piracy in some of the world’s most critical oil chokepoints is on the rise–but now, pirates are resorting back to another method of income generation better suited to times of Continue Reading
US Customs and Border Protection has formally revised its framework for the enforcement of the Jones Act, a change critics claim could allow more foreign-flagged vessels to operate in domestic Continue Reading
The systems cost several million dollars but will allow the operators to avoid buying new low-sulfur fuel that oil traders say will be some 30% more expensive than conventional bunker Continue Reading
As shipping companies prepare to bring their fleets into compliance with IMO 2020, LNG is poised to capture a small but growing portion of the international bunker fuel market in Continue Reading
“We will for sure have a strong first quarter and if the market has legs, it will correct downwards, but it will still be comfortable. I think 2020 will be Continue Reading
Faced with imminent new global marine pollution rules, shipping companies and insurers are puzzling over the risks. To reduce emissions of toxic sulfur that cause premature deaths, shipowners who have Continue Reading
Residual fuel sulfur spread more than doubles since July Demand for low-sulfur fuels drives US refinery utilization higher US retail gasoline, diesel prices to remain steady in 2020 Washington — Continue Reading
The number of tankers floating around the Singapore Strait have seen a steady decline in recent weeks as low sulfur material gets moved to landed storage to meet rising demand Continue Reading
As the new sulfur emission rules of the International Maritime Organization are about to come into effect in January, a shortage of refueling barges is causing delays in compliance, Reuters Continue Reading
It is the first in a series of steps the global maritime industry is supposed to take to address energy consumption and emissions. The actions will substantially raise operating costs Continue Reading
Bunker fuel quality issues continue to persist in the industry, even as fuel management is set to become more critical, ahead of the International Maritime Organization’s, or IMO, January 2020 Continue Reading
The US maritime industry fears a Trump administration proposal to modify decades of ship transportation rulings could weaken Jones Act enforcement, potentially altering a century of legal precedent governing the Continue Reading
Shortages of low-sulfur fuel oil could appear at some ports in Africa, South America and Southeast Asia next year, but most major ports around the world will have adequate supplies, Continue Reading
The upcoming IMO 2020 sulfur emission regulation is prompting both owners and charterers to negotiate and incorporate new clauses in their charter party agreements, or CPAs, to factor in the Continue Reading
There are fewer new vessels hitting the water in the coming months, and more tankers are making longer journeys to load up cargoes in the U.S. as buyers and sellers Continue Reading
