Shipping group Maersk said on Wednesday it is confident about the outlook for shipping beyond 2020 as a second wave of coronavirus infections has only had a limited impact on global freight volumes.Maersk, the world’s biggest container shipping line, has recovered faster than expected after the pandemic halted trade around the world, benefiting from higher retail sales in the United States.
The European Union is considering a plan to increase its offshore wind energy capacity five-fold this decade and 25-fold by 2050, as it seeks to become climate neutral by mid-century, according to a draft policy.The 27-nation EU, which is already home to 42% of the world's offshore wind capacity, says the technology now produces clean power at a lower price than any fossil fuel-based source.
A cruise ship carrying about 920 passengers was expected to dock at Piraeus port near Athens, after 12 of its crew members tested positive for the coronavirus, an official at Greece's Civil Protection agency said on Monday.The Mein Shiff 6, operated by TUI Cruises, departed from Heraklion in Crete on Sunday with all passengers having tested negative before boarding.
Iranian oil exports have risen sharply in September in defiance of U.S. sanctions, three assessments based on tanker tracking showed, throwing a lifeline to the Islamic Republic and its collapsing economy.Exports have shrunk from over 2.5 million barrels per day (bpd) since the United States withdrew from a nuclear deal with Iran and reimposed sanctions in 2018.
Container shipping group CMA CGM on Friday reported higher second-quarter profits and said it expects results to improve again in the current quarter as the shipping sector recovers quickly from disruption caused by the coronavirus pandemic.French-based CMA CGM recorded a net profit of $136 million for the second quarter compared with a year-earlier $109 million loss.
Hudong-Zhonghua Shipbuilding Co, a unit of China State Shipbuilding Corp, has signed contract to construct three liquefied natural gas (LNG) carriers worth 3.9 billion yuan ($551.62 million), reported the state-backed Jiefang Daily on Tuesday.The LNG carriers, each with a capacity of 174,000 cubic metres
Ukraine's Black Sea port of Odessa is set to receive on Wednesday its first ever West Texas Intermediate (WTI) oil cargo from the United States, according to industry sources and shipping data, just a month after the front-month futures for the blend turned negative.U.S. West Texas Intermediate (WTI) May crude futures sank to minus $38 per barrel on April 20, just days before their expiration
Thyssenkrupp on Monday said it was looking for partners for its steel and warship divisions, singling out just three lines of businesses that will stay within the struggling German industrial icon.Hoping to stop the bleeding of cash and restore investor confidence, the group also pooled businesses worth 6 billion euros ($6.
China is set to release its first-ever quotas to export very low sulphur fuel oil (VLSFO) with total volumes of 10 million tonnes for this year, six industry officials with knowledge of the matter said on Tuesday.The quotas, which came in the wake of Beijing’s policy in January to offer tax sweeteners to boost local production of the fuel
Indian liquefied natural gas (LNG) importers have started to issue force majeure notices as domestic gas demand slumps and as port operations in the country get hit by a lockdown to curb the spread of coronavirus, sources told Reuters."Demand has reduced drastically and it is likely to go down further, a company source with Gail (India) said.
Trading house Glencore has chartered the 3 million barrel crude carrier Europe to store oil at sea for at least 6 months, trading sources on Tuesday.The vessel is one of two so-called ultra large crude carriers (ULCC), the largest tankers in the world.Glencore booked the vessel at a rate of $37,000 a day for the first six months, according to the sources.A Glencore spokesman declined to comment.
Global ship deliveries have been hit as yards in China struggle to get fully back to work as a result of the coronavirus outbreak, with one shipbuilder saying it could not deliver two vessels.The coronavirus has caused chaos in Asia and beyond with flights suspended, businesses disrupted and entry restrictions imposed by governments trying to ward off its spread.