With the recent announcement by Secretary Deb Haaland that the Department of Interior will potentially hold up to seven new offshore lease sales by 2025, the Biden administration has taken a significant step toward its goal of bringing online 30 gigawatts of offshore wind energy by 2030.
Food traders are switching from containers back to dry bulk vessels to transport refined sugar and rice, hoping to avoid shipping delays caused by container shortages and port congestion that the industry is calling "containergeddon", according to traders.Container-based transportation has been hit by sky-high costs and delays amid booming shipping demand
Tanker rates to ship liquefied natural gas (LNG) have more than doubled since the start of the month as a power crisis in Asia and Europe drives up demand for vessels, industry sources said on Tuesday.The daily charter rate for a tri-fuel diesel-electric (TFDE) vessel that can carry 160,000 cubic meters of LNG to Pacific basin ports rose to $202,500 a day on Tuesday, the highest since Jan.
Singapore-based oil trader Winson Group denied on Tuesday a U.N. Security Council report alleging that it supplied fuel to North Korea in breach of international sanctions."Winson denies, in the strongest possible terms, any and all allegations and/or insinuations that it knowingly facilitated the illicit supply of oil to North Korea in breach of any United Nations Security Council resolutions
The U.S. Coast Guard responded Thursday to the aground cruise vessel American Jazz near Canton, Kentucky."American Jazz is aground near mile marker 62 on the Cumberland River outside the ship channel and is carrying 120 passengers and 54 crew members," the U.S. Coast Guard said.Coast Guard Sector Ohio Valley watchstanders received a call Thursday morning from American Cruise Lines stating their
President Joe Biden will soon order U.S. transportation agencies to crack down on anti-competitive conduct and unjust fees in the rail and sea shipping industries to try to lower costs to consumers, the White House said on Thursday.It said his executive order is aimed at the Federal Maritime Commission (FMC) and the Surface Transportation Board (STB).
Traders provisionally booked at least six tankers to ship gasoline from Europe to U.S. destinations following a cyber attack that shut the United States' top fuel pipeline network, Refinitiv Eikon data showed on Monday.The attack forced the Colonial Pipeline to shut down its entire system on Friday, stoking expectations of gasoline shortages along the U.S. East Coast.
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.
President Joe Biden on Monday signed an executive order aiming to use government spending to strengthen domestic manufacturing and create markets for new technologies, in a move widely praised by America's maritime industry.The executive order, titled Strengthening "Buy American" Provisions, Ensuring Future of America is Made in America by All of America’s Workers"
The United States on Tuesday sanctioned a network of oil trading firms, individuals and vessels that have helped Venezuelan state-run oil company PDVSA sell crude mainly to Asia despite Washington's sanctions on the South American nation.The measure targets a network that the U.S. Treasury Department says helped the administration of President Nicolas Maduro
Congestion delaying LNG shipments via the Panama Canal is expected to last through the peak demand winter months, traders close to the situation said, although the canal's regulator said it had made changes to speed up transit.The price of liquefied natural gas (LNG) and shipping rates have hit record highs because of the bottleneck, supply constraints and heavy demand from Asia
Freezing temperatures across Asia and Europe are driving liquefied natural gas (LNG) prices to record highs and pushing up the cost of shipping the fuel globally as buyers grapple with tight inventories and a shortage of tankers.Demand for super-cooled natural gas has surged in recent years as buyers, particularly China and India, move away from dirtier coal-polluting power plants.