Some of the world's largest ports may be unusable by 2050 as rising sea levels hit operations, and efforts to speed up decarbonization of the maritime sector and bring in new technology are vital, a study showed on Friday.Weather-related disruptions are already impacting ports across the globe. These include a drought which is hampering operations in the Panama Canal, a top waterway.
China's crude oil imports in July fell 18.8% from the previous month to the lowest daily rate since January, customs data showed on Tuesday, as major exporters cut back overseas shipments and domestic stocks continued to build. Crude shipments into the world's biggest oil importer in July totaled 43.69 million metric tons, or 10.
Global freight volumes show signs of having bottomed out in the first quarter, signalling the industrial cycle may be near its trough, which could provide some support to oil prices later in 2023.Global freight volumes fell 1.1% during the first three months of 2023 compared with a year earlier, according to the Netherlands Bureau of Economic Policy Analysis (“World trade monitor”, CPB, May 25).
Oil pipelines from the top U.S. shale field to Houston that have run half empty are filling again as rising output has absorbed most of the space on lines to the main south Texas export hub in Corpus Christi.U.S. crude exports climbed to a record of about 4.5 million barrels per day (bpd) in March, spurred by recovering Chinese demand and competitive pricing for U.S. oil.
The path to decarbonization is defined by partnership and fueled by government funding. This month we examine the players, partnerships, and evolution of Hydrogen Hubs in the Gulf of Mexico.The Green Shipping Challenge, organized by the United States and Norway at COP 27 held in late 2022, brought about dozens of announcements on maritime decarbonization.
Global freight volumes fell at some of the fastest rates for three decades earlier this year, but at the end of the first quarter showed signs of bottoming out.Volumes were down by -2.1% between December and February compared with the same period a year earlier, according to the Netherlands Bureau of Economic Policy Analysis (“World trade monitor”, CPB, April 25).
In troubling news for the maritime sector, new data from RightShip shows reported rates of seafarer abandonment is on the rise with no signs of slowing down.U.K.-based RightShip, which provides an online safety and environmental risk management system for the global maritime industry, said 9,925 seafarers have been cast adrift over the last 20-years, including 1
A fire at Turkey's Iskenderun port has been extinguished and maritime operations have resumed in the region, Turkey's maritime authority said on Friday, four days after the blaze broke out after following earthquakes that struck the country.More than a thousand containers which had caught on fire are being separated and the rehabilitation of the port will begin swiftly, it said.
U.S. federal energy regulators on Thursday approved Freeport LNG's request to return ship loading to service at its long-idled Texas liquefied natural gas (LNG) export plant.Freeport, the second biggest U.S. LNG export plant, shut after a fire in June 2022. The energy market expects gas prices to rise once the plant starts producing LNG again.
Around 600 workers at Liverpool port, one of Britain's busiest ports, will end strike action after agreeing a pay deal with employer Peel Ports, the Unite union said on Thursday.Unite said workers had voted "overwhelmingly in favor" of pay rises worth 14.3%-18.5% negotiated earlier this week, ending a wave of strike action that began on Sept. 19.
Russia ramped up seaborne Urals oil exports to Asia to 50% of the total over the Oct. 1-20 period ahead of a December EU embargo on the state's oil and products, according to traders and Refinitiv Eikon data.EU countries which have been primary consumers of Russian crude oil for decades will stop buying it from Dec. 5 due to the embargo imposed by the bloc.
Over 500 dockworkers at the Port of Liverpool, one of Britain's largest container ports, have launched a two-week strike over pay, the Unite trade union said on Tuesday, adding to a wave of industrial unrest caused by soaring inflation.The Liverpool strike from Sept. 19 to Oct. 3, which was announced earlier this month, will overlap a second walkout by workers at Felixstowe