Prices for Russia's flagship Urals crude at its western ports jumped above $110 per barrel on Tuesday, the highest level since April 2026, according to Reuters calculations based on data from two traders.Higher oil prices boost Russia's budget revenues, which rely heavily on oil and gas income, although elevated freight rates are limiting gains for sellers.Urals crude loaded at Russia's ports of Primorsk URL-PRMSK and Novorossiysk URL-NVRSK was assessed at around $110 per barrel on a free on board (FOB) basis on Tuesday
Global energy markets face a lengthening period of tight supply and price volatility as the industry's ability to offset disruptions from the Middle East is dwindling, senior executives from Shell and Equinor said on Wednesday.Attacks on oil tankers in the Middle East helped push crude prices towards $110 a barrel this week for the first time since May. Refined products have risen even more sharply, with fuels such as diesel reaching record highs.Still, the market's ability to adapt and absorb supply disruptions since the start of the U.S.
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 create dangerous rolling even when waves don't appear extreme.Most marine forecasts have limited direct, in-water observations of the full wave field.
Korean Register (KR) has granted Approval in Principle (AIP) to a newly developed 50,000-cbm LPG carrier, jointly designed with HD Hyundai Heavy Industries (HHI). The AIP was presented on September 16 at Gastech 2026 in Bangkok, Thailand.LPG carriers require precise control of cargo temperature and pressure to keep LPG cargo stable throughout storage and transport. Achieving both safety and cargo-loading efficiency in LPG transport calls for advanced engineering at every stage of design and construction.
K Shipbuilding Co., Ltd., Sejin Heavy Industries Co., Ltd. and ClassNK have signed an MOU (Memorandum of Understanding) regarding the joint development of a new generation Eco LPG carrier that complies with the IGC Code amendment. The signing ceremony was held at Gastech 2026 in Bangkok, Thailand.An amendment to the IGC Code, an international code for the construction and equipment of ships carrying liquefied gases in bulk, is scheduled to be adopted at MSC 112 (to be held in December this year) and to enter into force on July 1, 2028.
Lloyd’s Register (LR), Seapeak, Kongsberg Maritime (KM), and Tunable have launched a new joint development project (JDP) to facilitate compliance and independently verify the accuracy of KM’s Continuous Emissions Monitoring System (CEMS), which incorporates Tunable’s gas analysis technology, on board a new LNG carrier.The partners will compare actual CO2 emissions recorded by the vessel’s CEMS against both engine test bed data and default emissions factors
Lloyd's Register has granted Design Appraisal to HD Hyundai Heavy Industries' fore-accommodation LNG carrier design featuring Mitsui O.S.K. Lines' Wind Challenger hard-sail system, advancing the concept towards potential commercial deployment.The appraisal confirms that the design complies with LR's Wind-Assisted Propulsion Systems notation requirements and follows Approval in Principle granted at Gastech 2025.The partners describe the vessel as the world's first fore-accommodation LNG carrier equipped with the Wind Challenger system.
SGMF has published its latest Life Cycle Assessment (LCA) on methanol as a marine fuel, highlighting the greenhouse gas (GHG) reduction potential of renewable and synthetic methanol production pathways.The study evaluates 15 methanol production pathways and finds that methanol produced using renewable energy sources can deliver substantial emissions reductions.The publication follows SGMF's third edition LNG Life Cycle Assessment, released earlier this year, and its inaugural ammonia LCA, published in 2024.
With Pacific gray whales moving south from November to January, and humpbacks heading south from late autumn through December toward Hawaii, Mexico and Central America, it's peak season for whale encounters at sea.Vessel strikes are one of the leading causes of death for large whales worldwide, and sailboats carry a particular risk here, moving quietly under sail means whales often don't hear a boat coming, and may surface directly beneath or in front of it.
Oil prices settled $3 higher on Tuesday after shipping industry sources said crude loadings at Saudi Arabia's Red Sea export hub of Yanbu had been suspended and Riyadh had canceled some cargo deliveries to European customers, deepening concerns that disruptions to a critical oil-export route could persist for weeks.Gains in U.S. West Texas Intermediate crude futures CLc1 outpaced Brent on Tuesday, as fears that Saudi Arabia's supply troubles were widening sent investors rushing into U.S. crude as an alternative.Brent finished up $3.07, or 2.9%, at $108.75 a barrel, while WTI closed up $4.
Multraship, on behalf of Rijkswaterstaat, delivered the new patrol vessel ENFORCER to the Netherlands Coastguard, a 53-metre-long modern patrol vessel for surveillance work, providing assistance and contributing to safety in the North Sea. ENFORCER was built by Damen Shipyards in Gorinchem. It is owned by Multraship from Terneuzen, which will therefore also be responsible for the vessel’s crew and maintenance. The Netherlands Coastguard will have operational command.
Vessel transits through the Strait of Hormuz remained in the single digits at four on Tuesday, down from seven a day earlier, preliminary shipping data showed on Wednesday, falling well short of the 10-day average of 18.The drop in traffic through the waterway that handled one-fifth of the world's oil and liquefied natural gas supply before the Iran war comes after attacks in the region intensified.Of the total on Tuesday, two ships were exiting and two were entering, according to the data.No very large crude carriers or liquefied natural gas tankers were involved.