European Union envoys will discuss a 15th package of sanctions in response to Russia's 2022 invasion of Ukraine, including on tankers carrying Russian oil and Chinese firms involved in making drones for Moscow, EU diplomats said.A total of 29 entities and 54 individuals are lined up to be added to more than 2,200 on the existing sanctions list
This week at MarineLink…The IMO 2020 Sulfur Cap essentially ushered in a new type of fuel - VLSFO. With it came the engine problems caused by off-spec or incompatible fuels as producers grappled with the requirement for providing a sulfur content not exceeding 0.05%. As pointed out in Lloyd’s Register’s 2024 Fuel Quality Report, persistent issues involving cat fines, stability
Hapag-Lloyd has ordered 24 new container ships from two Chinese shipyards with a combined investment volume of about $4 billion, it said on Wednesday.Twelve ships, each with a capacity of 16,800 TEUs (twenty-foot equivalent units), will be built by Yangzijiang Shipbuilding Group, while the other 12, with a capacity of 9,200 TEU each, will come from New Times Shipbuilding Company Ltd.
Dozens of members of a Greek dockworkers' union have blocked the loading of a container of ammunition destined for Israel in protest against the Gaza war, coast guard and union officials told Reuters on Friday.The container, which arrived at Greece's Pireaus port on Thursday, held 21 tons of ammunition, one of the unionists told Reuters on condition of anonymity.
The United States expanded sanctions against Iran's petroleum and petrochemical sectors on Friday in response to an Iranian missile attack on Israel, the administration of President Joe Biden said.The U.S. move adds petroleum and petrochemicals to an executive order that targets key sectors of Iran's economy with the aim of denying the government funds to support its nuclear and missile programs.
Brazilian port terminal group Amport said on Thursday that grains transport through the Tapajos waterway has come to a halt as a severe drought hit northern Brazil and lowered the river's water levels.Tapajos, which links Brazil's central and north regions, is a key corridor to transport grains from agricultural heartlands in states, including Mato Grosso, Brazil's top soy producer
The U.S. Navy on Friday announced it has placed a $6.75 billion order with San Diego shipbuilder General Dynamics NASSCO for up to eight John Lewis Class (TAO-205) Fleet Replenishment Oilers. The ships are scheduled for delivery through January 2035.The Navy, which has been looking for ways to reduce costs and increase efficiency across its shipbuilding and repair programs
A.P. Moller - Maersk (Maersk) is in the process of signing newbuilding orders and time-charter contracts for LNG dual-fuel container ships.The new orders for 50-60 vessels will match its planned renewal pace of around 160,000 TEU per year.The new orders are a continuation of its fleet renewal program initiated in 2021 which has seen orders placed for 25 methanol dual-fuel vessels
Global manufacturing activity and freight are showing signs of a recovery, after a downturn took hold in the second half of 2022 and lasted for most of 2023, which could support petroleum consumption and prices later in 2024.But indicators from the United States have been more mixed and manufacturers there may struggle until the central bank starts to cut interest rates to stimulate consumption
Ten weeks after the collapse of Baltimore’s Francis Scott Key Bridge, salvage crews successfully removed the final large steel truss segment blocking the 700-foot-wide Fort McHenry Federal Channel on June 3-4.Using concrete breakers, underwater surveys, and oxyacetylene torches, they separated tons of concrete roadway, cable
The catastrophic bridge collapse that closed the Port of Baltimore to ship traffic is unlikely to trigger a major new U.S. supply chain crisis or spike goods prices, due to ample and growing spare capacity at competing East Coast ports, economists and logistics experts say.With six people still missing after a container ship collision destroyed the Francis Scott Key Bridge
2024 marks another year for development of a biennial WRDA bill—Water Resources Development Act, critical legislation for the Nation’s waterways, ports and harbors. WRDA encompasses a range of issues, from environmental regs to energy use to agriculture and, of course, a focus on projects critical for economic growth.