“Fill her up, son; unleaded. I need a full tank of gas where I'm headed,” former Police-front man, Sting, sang back in 1999 on his solo album Brand New Day. This country-inspired song could be the anthem for what is coming around next week, as Monday. May 31 is Memorial Day in the U.S., the day that kicks off “the U.S. driving season”.
In the first quarter of 2021 high-sulpfr fuel oil (HSFO) has been the only bunker fuel to experience year-on-year growth in Singapore, the world's largest bunkering hub. HSFO sales are up 47.2% from Q1 2020, reaching 3.1 million tonnes. This is however still less than a third of high-sulfur fuel sales in Q1 2019, before the IMO 2020 Sulphur Cap came into force.
The number of 15,000+ TEU ultra-large containership (ULCS) ordered reached record heights in March, reflecting the confidence of shipowners and investors amid continued strong demand in the container shipping sector.According to shipping organization BIMCO, the record-breaking 45 ULCSs and 27 additional "smaller" box ships ordered last month bring the total order capacity to 866,060 TEU
Suez Canal salvage teams intensified excavation and dredging on Sunday around a massive container ship blocking the busy waterway ahead of attempts to refloat it, with two sources saying work had been complicated by rock under the ship’s bow.Diggers were working to remove parts of the canal’s bank and expand dredging close to the ship’s bow to a depth of 18 meters
The Dutch emergency response team hired to free the vast ship blocking the Suez canal has pulled off some dramatic recoveries, including lifting Russia’s Kursk nuclear submarine from the Barents Sea floor, but says this is one of the trickiest.Weighing 200,000 tonnes without cargo, the Ever Given is the heaviest vessel that Smit Salvage
A containership blocking the Suez Canal like a "beached whale" may take weeks to free, the salvage company said, as officials stopped all ships entering the channel on Thursday in a new setback for global trade.The 400-meter Ever Given, almost as long as the Empire State Building is high
The Suez Canal temporarily suspended traffic on Thursday as efforts to dislodge a 400 m (430 yard) long container vessel that has blocked the waterway continued for a third day, with eight tugs working to straighten the ship.The Ever Given vessel, almost as long as the Empire State Building is high
When leadership at the White House changes parties, you can expect a shift in priorities and policies. In one case, however, continuity is welcome, as President Biden has voiced his support for Buy American and the Jones Act, which are especially beneficial to the maritime and dredging industries.Read the March 2021 edition of Maritime Reporter & Engineering News, an edition dominated by dredging.
As the lion’s share of the world fleet replaced high-sulphur fuel oil (HSFO) with low-sulphur fuel oil (LFSO) as a mean of propulsion to be compliant with the International Maritime Organization's (IMO) 2020 global sulphur cap that came into force on January 1, 2020, overall bunker sales rose in the world’s by far largest bunkering hub: Singapore.
The Baltic Exchange's main sea freight index on Wednesday climbed to a near 1-1/2-year high as panamax rates scaled a more than 10-year peak on China grain demand.The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, rose 88 points, or 4.4%, to 2,105, a peak since September 2019.The panamax index gained 211 points, or 8.
BIMCO notes stunning comeback to Q2 agricultural exports nearly triple freight ratesAs agricultural dry bulk commodities exports took a dive in the first quarter of this year and painted a gloomy picture for Panamax and Handymax freight rates, a stunning second quarter comeback have nearly tripled freight rates.
Oil product tankers earnings have skyrocketed in the first half of 2020, while the sale and purchase (S&P) activity of the oil product tanker market has slowed to the lowest level since 2016. Data from VesselsValue highlight that in the first five months of 2020, only 2.8 million deadweight tons (DWT) of oil product tankers have shifted hands in the second-hand market