Dozens of tankers holding jet fuel and gasoline are at anchor in sea lanes around Europe's main storage hubs, unable to discharge their cargoes as onshore tanks are full to capacity following the collapse in demand linked to the coronavirus crisis.Nearly 1 million tonnes of refined products are parked on around 30 tankers off Europe's coast, Reuters calculations found.
There’s a barge full of reasons why many operators turn to ATBs.A mainstay of the U.S. coastwise dirty and refined products trades, articulated tug barges (ATB) have increasingly filled a void left as the fleet of Jones Act tankers (with crew complement requirements exceeding that of tugs) has aged out.
The White House has reached a "deal in principle" with Beijing to resolve the 17-month U.S.-China trade war, according to a source briefed on the trade talks.The White House was expected to make an announcement later on Thursday, the source said."The written agreement is still being formulated, but they have reached an agreement in principle," the source said.
For Marine Technology Reporter's (MTR) 14th Annual "MTR100" - a look at 100 innovators and technologies in the subsea space - MTR editor-at-large Elaine Maslin reports on five companies and technologies that are worth the watch for the remainder of 2019 and beyond. For the full edition, see https://magazines.marinelink.
Offshore drilling contactor Valaris, which is exploring a bankruptcy restructuring, on Thursday said it could take up to two years to reactivate idle equipment as contracts dry up during a historic rout in oil prices.Global oil markets have collapsed since the beginning of March as the coronavirus pandemic has crushed fuel demand.
Technology group Wärtsilä and classification society DNV GL say they will work together to contribute to the marine industry’s ongoing digital transformation. In particular, the two companies aim to to further explore the potential use of digital technologies, collaborative data sharing and standardization to enhance existing products and services, and to develop new ones.
Gulf of Mexico (GoM) Lease Sale 253 in New Orleans generated over $159 million in high bids for 151 tracts covering 835,000 acres in federal waters.Twenty-seven companies participated in the lease sale, submitting approximately $175 million in bids, said Bureau of Ocean Energy Management (BOEM).
Gladding-Hearn Shipbuilding, Duclos Corporation, has delivered a second high-speed passenger ferry for Rhode Island Fast Ferry, Inc., for service between Quonset Point, Rhode Island and Martha’s Vineyard, alongside Ava Pearl, the operator’s first high-speed catamaran built by the Somerset, Mass., shipyard in 2012.The new 320-passenger, all-aluminum catamaran, Julia Leigh, measures 113.5 feet (34.
Brazilian iron ore miner Vale on Monday said it now expects sales of iron ore and pellets to be between 307 million and 312 million tonnes in 2019, further reducing its full-year outlook as it grapples with the aftermath of a deadly dam burst.Vale has been compelled to halt production at various facilities because of safety worries after the collapse of a tailings dam in the town of Brumadinho
Macquarie Infrastructure and Real Assets (MIRA) has agreed to lift its shareholding in the 576-MW Gwynt y Mor offshore wind farm in the UK by purchasing an additional 10% stake for an undisclosed sum.MIRA has managed a 10 per cent stake in Gwynt y Môr since 2017 following Macquarie Group’s acquisition of the Green Investment Bank.
France wants the European Union to work on creating a tax on airplane and ship fuels as part of a push to rein in carbon emissions, French Finance Minister Bruno Le Maire said on Tuesday.Le Maire said the tax would complement plans supported by France and Germany for a carbon border tax that would shield European companies from competition from countries with lower emissions standards.
U.S. President Donald Trump on Tuesday warned he would be "tougher" on Beijing in a second term if trade talks dragged on, compounding market fears that ongoing trade disputes between the United States and China could trigger a U.S. recession.The world's two largest economies imposed fresh tariffs on each other on Sunday