Turkey sent its new hydrocarbons drilling ship to the Mediterranean Sea on Tuesday but President Tayyip Erdogan said it would operate 55 kilometres (34.18 miles) off Turkey's coast, in an area outside waters also claimed by Cyprus.Speaking at the launch ceremony in the southern province of Mersin
A tanker of U.S. sour crude was delivered at Germany's port of Rostock last week for the first time ever, according to sources, analysts and vessel tracking data, as local refiners test alternatives to Russian oil.The European Union plans an almost-complete embargo of Russian barrels by year-end, and is trying to wean itself off Russian crude imports, which have fed inland refineries in Germany
U.S. crude shippers are exporting huge amounts of oil to meet strong demand from Europe following Russia's invasion of Ukraine and subsequent sanctions against Moscow. In coming years U.S. oil may find even more buyers overseas, but that could test the capabilities of U.S. export infrastructure.How much crude does the United States typically export?U.S. crude exports averaged 3.
The cost of shipping goods has surged 25-30% since the start of the pandemic due to array of inflationary pressures that are "unlikely to abate in the short term," world No. 1 container shipping company Maersk told Reuters on Wednesday.Maersk is viewed as a bellwether for global trade as it transports goods for retailers and consumer companies from Walmart and Nike to Unilever.
Iran's Ports and Maritime Organization (PMO) said on Tuesday the Iranian-flagged Lana tanker ship seized in April by Greece is no longer impounded and its oil cargo will be returned to its owner, according to Iran's semi-official Mehr news agency."With the swift and authoritative action of Iran
A major bunker fuel contamination has affected at least 14 shipping vessels that received high sulfur fuel oil (HSFO) from Singapore, fuel, and oil testing firm Veritas Petroleum Services (VPS) said.The company said an increasing number of ships were getting affected by the tainted bunker fuel after 34 vessels were identified to have received HSFO deliveries from two unnamed Singapore suppliers
Shipping group Maersk will temporarily halt all container shipping to and from Russia in response to Western sanctions on Moscow following its invasion of Ukraine, the company said on Tuesday.The move follows similar decisions by Singapore-headquartered Ocean Network Express (ONE), Germany's Hapag Lloyd HLAG.DE and Swiss-based shipping group MSC.
China more than halved the volume of export quotas for refined fuel, predominantly gasoline, diesel and aviation fuel, under the first allotment for 2022, while raising the allowances for low-sulphur fuel oil by 30%, industry sources said on Tuesday.The deep cuts to refined fuel, largely expected by the market
Shipping group A.P. Moller-Maersk said on Tuesday record-high freight rates boosted quarterly earnings despite lower container volumes due to congestion at ports.The coronavirus pandemic has prompted a shortage of container ships and logjams at ports at a time of high consumer spending, pushing the cost of transporting freight to record levels.
Ports and shipping companies are diverting vessels from a container terminal in China's busiest marine transportation hub which was forced to close after a coronavirus case emerged, as the pandemic strains global supply amid rising retail orders.Meidong container terminal in eastern Ningbo suspended operations on Wednesday after a COVID-19 case was detected
A.P. Moller-Maersk is looking to divest its 30.75% stake in Russian port operator Global Ports Investments due to Russia's invasion of Ukraine, Maersk's port unit APM Terminals said on Friday.Global Ports' shareholders include Russian state nuclear company Rosatom and Russian businessman Sergey Shiskarev.
EU antitrust regulators have resumed their investigation into Hyundai Heavy Industries Holdings Co Ltd's bid for rival Daewoo Shipbuilding after a temporary halt of more than a year, setting a Jan. 20 deadline for their decision on the deal.The European Commission, which paused its probe in July last year while waiting for the companies to provide requested data