Oil tanker rates are soaring globally as traders scramble to cope with jitters over possible disruption in Russian supplies, as well as war risk premiums for ships plying the Mediterranean Continue Reading
Owners of tankers have become reluctant to offer their vessels to load crude from Russia for fear that their future cargo could be breaching potential sanctions if the West decides Continue Reading
Record-high bunker prices are pushing transport costs higher, and in turn, impacting the costs of goods and services across the globe. The overall rebound in demand for fuels as economies Continue Reading
Shipping group Maersk (MAERSKb.CO) plans to install hundreds of offshore charging stations around the world to allow vessels to power themselves with electricity instead of fossil fuels while waiting outside Continue Reading
The technology group Wärtsilä has received its first order for newbuild methanol-fueled engines. A new Offshore Wind Installation Vessel (WIV) being built for Dutch contracting company Van Oord at Yantai Continue Reading
Demand for shuttle tankers will grow continuously in the coming years, as produced volumes in need of transport rise to 3.3 billion barrels per year before the end of the Continue Reading
MSC takes No. 1 spot as it invests windfall profits in aggressive fleet expansion CMA CGM retakes third place in global rankings, while Wan Hai enters top 10 Switzerland-based shipping Continue Reading
Sumitomo Corporation will launch a full-scale project to design and develop an ammonia-fueled dry bulk carrier jointly with Oshima Shipbuilding Co., Ltd. The ship is expected to be 229m in Continue Reading
Shippers of containerized goods were caught off guard this year. Never before had container spot rates risen so far, so fast. But shippers of liquid and dry bulk commodities know Continue Reading
Tens of thousands of seafarers are stuck at sea working beyond their maximum 11-month contracts, as the emergence of the Omicron Covid-19 variant hinders cargo ship operators’ ability to change over crews. With the Continue Reading
