Chinese and Indian refiners will source more oil from the Middle East, Africa and the Americas, boosting prices and freight costs, as new U.S. sanctions on Russian producers and ships curb supplies to Moscow's top customers, traders and analysts said.The U.S. Treasury on Friday imposed sanctions on Russian oil producers Gazprom Neft and Surgutneftegas
You would be hard pressed to find a corporate leader more passionate about the company they lead; more dedicated to the customer they serve. In this case it’s George Whittier, CEO, Fairbanks Morse Defense and the U.S. Navy. Upon his return less than five years ago, Whittier has driven FMD towards the top of the U.S. Navy supply heap, with a string of strategic acquisitions.
Port and logistics firm DP World is going ahead with a 1 billion pound ($1.3 billion) investment in its London Gateway port, Britain's government said on Sunday after reports last week that the company had paused the project in protest.In what had been an embarrassment for the government before a major investor conference
The owners of a private island in the U.S. rely on vessel transport as a lifeline to the mainland. Their boat, used for carrying supplies and even supplying medevac support in emergency situations, must be able to run at any time, in all conditions.So when it came time for their existing vessel to be replaced
Just shy of 10 years old, United Heavy Lift (UHL) recently welcomed its 19th ship to the fleet, an F900 eco-lifter. In advance of the ship delivery festivities in mid-July, we had the chance to chat with Andreas Rolner, Managing Director of UHL, a man who with his father parlayed cumulative experience in the heavy lift business into one of the world’s largest heavy lift companies.
Deliveries will begin in 2028 if all goes well. Delays and escalating costs have bedeviled the procurement process up until now.Washington State Ferries on Thursday published an invitation to bid on building five new hybrid-electric ferries, an overdue achievement that promises to eventually bring more reliability to cross-Sound ferry service.
Australia's BHP Group is planning to receive its first ammonia-fueled bulk carrier in 2026 as part of the company's plans to cut shipping emissions, a senior executive said.The global mining giant has shortlisted eight companies for the building, operation and fuel supply for at least one such vessel, Rashpal Singh Bhatti
Here is a timeline of the collapse on Tuesday of Baltimore's Francis Scott Key Bridge after it was hit by the Singapore-flagged container ship Dali. All times are EDT:01:04 a.m (0504 GMT). – Loaded with shipping containers, Dali departs from Baltimore's port, headed to Colombo, Sri Lanka.01:24 a.m. – Dali slowly approaches the Key Bridge, according to video captured by StreamTime Live.1:24:33 a.m.
The European Union, Canada, Japan and climate-vulnerable Pacific Island states are among 47 countries rallying support for a charge on the international shipping sector's greenhouse gas emissions, documents reviewed by Reuters showed.The documents, being discussed at an International Maritime Organization (IMO) meeting now entering a second week
Risk is the "new normal" for the global ocean shipping industry that handles 80% of global trade as pressure from geopolitical tensions, rising protectionism and climate change mounts."There are going to be global tensions ... and I think global dangers, at a level we haven't seen since the end of World War II," former U.S.
Grain ships originating from the Black Sea or bound for Iran are about the only ones still sailing through the Red Sea as Houthi militants continue to attack vessels in the area, analysts said on Friday.The attacks by the Iran-aligned Houthis have disrupted global shipping since November and forced firms to re-route to longer and more expensive journeys around southern Africa.
Greece-headquartered Star Bulk will halt sailings through the Red Sea after Yemen's Iran-aligned Houthis attacked two of its ships in recent days, the group's CEO said.The Houthis have targeted commercial vessels with drones and missiles in the Red Sea since mid-November in what they describe as acts of solidarity with Palestinians against Israel in the Gaza war.