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
China's exports rose at the fastest pace in five months in June as factories revved up after the lifting of COVID lockowns, but a sharp slowdown in imports, fresh virus flare-ups and a darkening global outlook pointed to a bumpy road ahead for the economy.Analysts say the rebound in exports reflected an easing of supply chain disruptions and port congestion that hammered the world's
Spot-market rates for liquefied natural gas (LNG) tankers this week set annual records as traders bid up available vessels to meet rising global demand for the chilled gas, according to brokers.Soaring demand for LNG and buyers shunning Russian cargoes and vessels over its invasion of Ukraine have led to more long-term charters, limiting the supply of vessels to the spot market
China will make port operations more efficient and hold more online trade fairs, among new measures to ease pressure on foreign trade, Vice Commerce Minister Wang Shouwen said on Wednesday. Export growth in the world’s second largest economy slowed to single digits in April, the weakest in almost two years
Korea Shipbuilding & Offshore Engineering (KSOE) has mostly filled its order book for the next 2-1/2 years as the pandemic drove demand for container ships, leaving little room to meet the needs of the liquefied natural gas (LNG) sector, a senior company executive said.With U.S. LNG exports rising
The U.S. Navy released on Tuesday a climate strategy that aims to make the force more resilient to changes like sea level rise and coastal erosion while moving faster to low-carbon fuels and hybrid engines for ships and planes.The Climate Action 2030 plan, is part of the Biden administration's wider goal of decarbonizing the economy by 2050.
Danish shipper Maersk said the Shanghai lockdown will severely hurt trucking services and increase transport costs, as China's intensifying efforts to fight the spread of COVID-19 further rattles global supply chains.The Chinese coastal city, home to some of the world's busiest sea and airports
German renewable energy industry giant RWE, in partnership with Commercial Rib Charters (CRC), is building "a world-first" amphibious vessel for reaching offshore wind farms in shallow waters."The unique crew transfer vessel has initially been designed to reach turbines at Scroby Sands [wind farm in the UK ]
Oil tanker rates are soaring globally as traders scramble to cope with jitters over possible disruption in Russian supplies, as well as war risk premiums for ships plying the Mediterranean region following Moscow's invasion of Ukraine.Shipowners are also grappling with higher fuel costs after oil prices soared nearly $2 per barrel on Friday, with Brent back above $100.
Oil prices surged to seven-year highs on Friday, extending their rally into a seventh week on ongoing worries about supply disruptions fueled by frigid U.S. weather and ongoing political turmoil among major world producers.Brent crude rose $2.16, or 2.4%, to settle at $93.27 a barrel having earlier touched its highest since October 2014 at $93.70.U.S. West Texas Intermediate crude ended $2.