Shipping emits a much greater share of greenhouse-gas emissions than you might think — more than a million tons annually, nearly 3% of the global total, and rising steadily. The problem is Continue Reading
Energy group Shell has revealed plans to back hydrogen fuel cells on the road to shipping’s 2050 decarbonization goals, tagging LNG bunkers as the bridging fuel between that and conventional Continue Reading
Another COVID-19 problem that the U.N. is trying to solve: how to help more than 300,000 merchant mariners who are trapped at sea because of coronavirus restrictions. Describing the mounting Continue Reading
“The reorganization is in process and we want to make sure that our employees are informed first,” the Maersk spokesman said. Damco, which specializes in freight forwarding and logistics, employs Continue Reading
The world’s first Very Large Containership fueled by LNG left the shipyard of Hyundai Samho Heavy Industries earlier this month to be delivered to Singapore’s Eastern Pacific Shipping, one of Continue Reading
The fuel that powers passenger planes is normally among the most expensive oil products, but in a sign of the times the coronavirus has turned it into a blending component Continue Reading
There has been more than enough written about the woes of various segments of the oil industry and related industries so far this year. But there is one industry that Continue Reading
In the market for an abandoned cruise ship? Carnival Corp. — the parent company of nine cruise brands, including Princess, Costa, and Carnival — announced in a third-quarter earnings filing that Continue Reading
The English seaside resort of Weymouth is in the heart of the Jurassic coast, an almost 100-mile stretch of shoreline renowned for its fossils. But this summer the region’s geology Continue Reading
There’s hardly anyone buying new ships, with orders plunging to a 20-year low due to a potent combination of uncertainty over environmental regulations, the economic fallout from the coronavirus pandemic Continue Reading
Princess Cruises announced Tuesday that it’s canceling sailings in early 2021 “due to limitations with border and port access.” The company also cited the “uncertainty of airline travel” as a Continue Reading
Shipping is the backbone of the global economy, responsible for about 90% of world trade. But it also accounts for almost 3% (and rising) of man-made carbon dioxide emissions. The industry’s regulator set Continue Reading
The Port of Corpus Christi surpassed Houston late last year as the nation’s top crude exporter, and now the rapidly growing petroleum hub aims to take the next step by Continue Reading
Danish shipping firm A.P. Moller-Maersk recorded a drop in second-quarter revenue as demand destruction from the coronavirus pandemic reduced the company’s container volumes by 16% year on year. Receive daily Continue Reading
The year 2019 marked a crucial milestone in the fight against global maritime piracy. According to the International Maritime Bureau (IMB), global pirate attacks plunged to a 25-year low, with Continue Reading
Global shipping markets are struggling to resume normal trade operations as the coronavirus-induced restrictions on seafarers takes toll on logistics chains, threatening earnings prospects and ramping up freight as well Continue Reading
Orders for new oceangoing ships are at record lows as carriers sit on the sidelines amid clouds of uncertainty. The blow to the global trading economy from the coronavirus pandemic Continue Reading
“After months of this crew-change crisis getting worse, governments must do their bit,” said Stephen Cotton, general secretary of the International Transport Workers’ Federation. “That means that port states where Continue Reading
“While 26% of the respondents think their investment in greenhouse-gas emissions reduction would not be hit by Covid-19 once the crisis recedes, 30% said they would reduce investments,” the group Continue Reading
“As a result of our forecasts we concluded that a significant decline in ocean transport volume and a restrained stance on customers’ investments will be unavoidable in the foreseeable future,” Continue Reading
Carnival Cruise Line said on Monday it has extended its pause in operations for North American voyages until Sept. 30, as it determines how to safely resume service amid the Continue Reading
The three key container shipping alliances, 2M, Ocean Alliance, and THE alliance, have limited the damage from the collapse in global trade and buoyed freight rates through the first half Continue Reading
Carnival Corp. reported a preliminary quarterly loss of more than $4 billion, its largest ever, as the Covid-19 pandemic has idled ships, and it warned that it could breach a Continue Reading
Merchant ship crew members stranded at sea for months due to coronavirus-related travel restrictions could now start refusing to further extend their contracts and stop working, potentially disrupting global trade, Continue Reading
Shipping lines that move the vast majority of the world’s manufactured goods have canceled more than a quarter of all sailings on Asia-to-Europe and trans-Pacific lanes, the world’s biggest trade Continue Reading
Ship owners are postponing or canceling the installation of “scrubbers” that extract harmful sulfur emissions from their vessels as the coronavirus pandemic tightens finances. Regulations from the United Nations agency Continue Reading
The international shipping industry has warned of a threat to global trade from a mounting crisis on board merchant vessels, with up to 400,000 crew stranded either at sea or Continue Reading
The $1 trillion container shipping industry is in a slowdown. Literally. Some shipping lines, whose retail customers are being hammered by the coronavirus pandemic, are reducing sailing speeds and taking Continue Reading
Maersk, which moves 17% of all containers world-wide, posted better-than-expected first-quarter earnings on Wednesday as cost cuts, lower fuel outlays and higher freight rates helped offset the demand slump. With Continue Reading
The daily rate for chartering an oil tanker from Saudi Arabia to China has plunged by over 50 percent in one week to $100,000 as OPEC+ begins on Friday the Continue Reading
Oil traders are hiring expensive U.S. vessels, normally only used for domestic shipments, to store gasoline or ship fuel overseas, five shipping sources said, in a sign of the energy Continue Reading
Highlights Platts Analytics sees spread hitting scrubber installations this year Stolt-Nielsen, others signal scrubber investment re-evaluation Long-term logic at odds with near-term price squeeze on fuel price spread London — Continue Reading
Loads that would have paid $1,000 last month, when a rush to restock grocery stores briefly lifted business, now fetch $300 or less, he said. That isn’t enough to cover Continue Reading
The ships provide big operating-cost savings on major trade lanes in periods of high demand, but critics say they also box in ship owners, giving them little flexibility to shift Continue Reading
Virginia is home to the sixth-largest container port in the U.S., part of a sprawling facility that also includes the world’s largest naval base, ship repair services and dry-bulk berths Continue Reading
India is showing the world what a broken food supply chain under coronavirus restrictions looks like. Two weeks into the world’s biggest lockdown, the people who move the essentials from Continue Reading
The port backups that have paralyzed food shipments around the world for weeks aren’t getting much better. In fact, in some places, they’re getting worse. In the Philippines, officials at Continue Reading
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
