Supply chain issues tied to liner shipping have been front page news throughout 2021; just about everyone agrees that there’s a problem. The underlying cause is right out of Economics 101: a surge in demand for moving containerized cargo, in the face of “inelastic” throughput capacity (which includes vessels and their landside interfaces to surface transportation
New virus mutations and outbreaks have slowed the recovery in global oil demand as some countries lock down again and international travel remains complicated.Drivers of demand and freight ratesTo say that the summer has not been kind to the crude oil shipping industry would be an understatement.
More than a dozen large tankers were waiting on Wednesday at Venezuela's main oil port and nearby anchorage zones for state-run PDVSA to assign them slots to load crude, as an outage and low inventories caused delays, according to documents and sources.Venezuela's crude output declined in April to 445,000 barrels per day (bpd), according to secondary sources consulted by OPEC, down 81
The U.S. Coast Guard on Friday lifted its marine traffic restrictions on a section of the lower Mississippi River that has been closed since Tuesday, clearing towboats and barges to resume operations on one of America's busiest and most vital trade arteries.All river traffic came to a halt near Memphis, Tenn.
More than 1,000 barges were backed up on the lower Mississippi River on Friday, according to the U.S. Coast Guard, while traders anxiously awaited an update on the shutdown of a portion of the waterway that is critical to U.S. crop exports.The Coast Guard on Tuesday stopped all traffic on the river near Memphis, Tennessee, after a fracture was discovered in the Hernando DeSoto Bridge
Indonesia's president ordered an all-out effort to find a missing submarine in a race against time to save the 53 crew, whose oxygen supply defense chiefs said would last only until Saturday.Indonesia sent a helicopter and five ships to search waters north of the holiday island of Bali but found no signs of the KRI Nanggala-402, which went missing early on Wednesday during a torpedo drill.
In a live-stream presentation from its Copenhagen Research Center, MAN Energy Solutions has demonstrated advanced dual-fuel engine technology for low-cost, fuel-efficient operation of liquefied natural gas (LNG) carriers and other vessels where low capital outlay is a priority. Tom Mulligan, science &and technology correspondent, reports.
Aberdeen-based offshore vessel owner North Star Renewables has won contracts worth around £270 million (~$375 million), to deliver three service operation vessels (SOVs) to be used on what will be the world’s largest offshore wind farm, the 3.6GW Dogger Bank Wind Farm in the UK North Sea.
If you’ve perused social media in recent weeks, you may have come across people singing chanteys, which were work songs employed on merchant sailing ships.Historically, chanteys – which are also spelled as “shanties” or “chanties” – began with a sing-out by a crew member recognized as “the chanteyman,” usually someone prized for his voice and ability to extemporize.
Stolt Tankers said it has been commissioned by chemicals company BASF to help design and build a unique new tanker capable of operating when extremely low water levels hamper river shipping on the Rhine.The Rhine, which starts in Switzerland and flows through Germany and the Netherlands before emptying into the North Sea, is a key waterway for transportation in Europe.
Venezuela's oil exports fell to a historic low of 359,000 barrels per day (bpd) in October as most of state-run PDVSA's long-term clients paused trade to meet a U.S. deadline to halt business with the firm, according to data seen by Reuters on Monday.The United States set an October-November deadline for PDVSA's long-term customers - including Italy Eni
Oil traders are scouting for newly built supertankers to store diesel for the next few months as they brace for lower demand in Europe amid renewed restrictions aimed at battling the COVID-19 pandemic, shipping and trade sources said.Trading companies, including oil majors, are making enquiries to charter very large crude carriers (VLCC) to carry diesel with 10 parts-per-million (ppm) sulphur