Ukraine accused Russia on Thursday of using strategic bombers to hit a civilian grain vessel with a missile in the Black Sea in NATO member Romania's maritime economic zone, in what it described as a "brazen attack" on freedom of navigation.President Volodymyr Zelenskiy said the vessel carrying Ukrainian grain to Egypt had been hit by a Russian missile just after it exited Ukrainian territorial
Retailers are fueling a summer rush of imports to the United States this year as companies guard against a potential strike by port workers and ongoing shipping disruptions from attacks in the Red Sea ahead of a shortened holiday shopping season.Container imports and freight rates surged in July
Denmark is considering ways to stop a so-called shadow fleet of tankers from carrying Russian oil through the Baltic Sea, the Nordic country said on Monday, triggering a sharp response from Moscow's diplomats who said any such move would be unacceptable.Russia sends about a third of its seaborne oil exports, or 1.
Trader Gunvor and French major TotalEnergies have stored North Sea crude in at least four tankers in the past month as on-water stockpiling of the grades hits a 2-1/2 year high, a fresh sign of weak appetite for oil from refiners.At least 2.6 million barrels of North Sea crude grades Forties and Gullfaks have been put in floating storage in Europe, the highest volume since January 2022
If nothing else, building vessels in the U.S. is a complicated business.In a session on the domestic shipbuilding marketplace, at Marine Money’s late-November 2023 conference held in New Orleans, Ben Bordelon, president and CEO of Bollinger Shipyards (with more than a dozen facilities, in Mississippi and Louisiana)
Yemen's Houthis have been attacking ships in the Red Sea since November, in what they say is a campaign of solidarity with Palestinians during the Israel-Hamas war in Gaza, prompting retaliatory U.S. and U.K. strikes against the Iran-aligned group.In the first fatalities reported since the Houthis began their attacks on shipping in one of the world's busiest trade lanes
Contracting activity for for crude tanker newbuilding has risen sharply to start 2024, driven by a steep rise in orders for very large crude carriers (VLCC), according to shipping organization BIMCO.In the first two months of 2024, crude tanker newbuild contracting surged to 7.4 m DWT, a 490% leap y/y.
Egypt is studying further expansions of the Suez Canal to extend and complete a second channel of the waterway, the canal's head said on Monday, a move that could allow for higher volumes of shipping and prevent blockages from halting traffic.The comments come as the canal is seeing a sharp fall in revenue due to shipping companies diverting away from the waterway
CMA CGM has lined up several of its existing containerships for conversion to dual-fuel methanol propulsion.The French ocean carrier has signed contracts with China State Shipbuilding Corporation’s (CSC) Qingdao Beihai Shipbuilding to carry out the conversions starting from mid-2025. The program will reportedly include one or two 9,300 TEU vessels but could grow to up to 10 ships if successful.
Russia is hoping its shipments of liquefied natural gas (LNG) will offset a sharp fall in pipeline gas exports to Europe, but a shortage of gas tankers and sanctions hold back its plans, analysts and industry sources said.Russia wants to boost its share of the LNG market to 20% by 2030 from 8% now
The Philippines and China traded accusations on Sunday over a collision of their vessels near a disputed shoal in the South China Sea as tensions over claims in the vital waterway escalate.The Philippine coast guard accused China of firing water cannons and ramming resupply vessels and a coast guard ship, causing "serious engine damage" to one
The United States has remained the largest exporter of liquefied natural gas (LNG) so far in 2024, but a steep drop in selling prices and a sharp swing in export volumes to key markets is likely testing exporter appetite to stay on top.The United States shipped a record 56.9 million metric tons of LNG during the first eight months of 2024, according to Kpler.That surpassed the 54.