Liquefied natural gas shipping rates have hit multi-year lows and may extend losses going into 2025, analysts and shipping sources said, with new tankers being added at a faster rate than LNG production is rising and spot demand still tepid.New LNG tankers, built in anticipation of rising U.S.
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
Big energy merchants trading oil cargoes that form the basis of the Brent benchmark have used an obscure clause to reroute U.S. shipments from Europe, in a practice that raises doubts over whether reforms to the crude price marker have succeeded.Brent, the most significant benchmark across commodity markets, is used to price more than 60% of globally traded crude and underpins oil futures.
The Panama Canal expects to increase the number of daily transit slots for vessels to 36 from the current 34 beginning in September, the canal's deputy administrator said, as rains allow authorities to ease drought-imposed restrictions.Panama experienced its third-driest year on record in 2023
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
Marine conservationists and government scientists are seeking clues to the mystery of how a 44-foot whale carcass ended up on the bow of a cruise liner, where it was discovered as the ship approached New York City's Port of Brooklyn over the weekend.A necropsy, the animal equivalent of an autopsy, identified the deceased marine mammal as a mature female sei whale
The U.S. Environmental Protection Agency (EPA) has issued the final air quality permit for Dominion Energy’s 2.6 GW Coastal Virginia Offshore Wind (CVOW) project located off the coast of Virginia Beach in the United States.Issued on April 9 following a 30-day public comment period, the permit authorizes the construction and operation of the largest offshore wind project in the U.S.
More ships carrying grain were diverted from the Suez Canal to sailings around the Cape of Good Hope this week as concern about attacks on vessels in the Red Sea continued, shipping analysts said on Friday."Another 13 vessels were diverted this week taking the total cargo diverted away from the Red Sea route to around 5.
Smyril Line announced it has signed a contract with the CIMC Raffles shipyard in China for the construction of two new vehicle carrier vessels.The ro-ro ships will each be 190 meters in length with 3,300 lane meters for trailers. They have been designed in close cooperation with naval architects Knud E. Hansen for year-round seaworthiness in the North Atlantic.
Tankers carrying Russian oil have continued sailing through the Red Sea largely uninterrupted by Houthi attacks on shipping and face lower risks than competitors, according to shipping executives, analysts and flows data.Russia has become more dependent on trade through the Suez Canal and the Red Sea since it invaded Ukraine
Akastor's subsidiary DDW Offshore has secured a contract extension with Petrofac for its AHTS vessel that will be put on the Northern Endeavour FPSO disconnection job offshore Australia.The contract extension follows the original one-year contract Petrofac signed with DDW Offshore for the AHTS vessel Skandi Atlantic back in September 2022.
As low water level continue to plaque the Panama Canal, shipowners and managers are paying the price in the form of longer hauls and higher fuel (and emissions) costs to deliver product to market.In one example, oil tanker Cururo is taking the long way from Houston to Chile: sailing the length of South America's Atlantic coast