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
The U.K.’s most advanced polar research ship RRS Sir David Attenborough left Cammell Laird shipyard Wednesday to commence two weeks of technical sea trials ahead of scheduled delivery to the Natural Environment Research Council (NERC) in November.“Although the vessel’s construction is now complete
The U.S. Coast Guard Cutter Healy (WAGB-20) is making an early return to its Seattle homeport, and its future Arctic operations have been canceled after the 21-year-old medium icebreaker suffered a fire in one of its main propulsion motors last week.The electrical fire was reported at 9:30 p.m.
President Donald Trump says the U.S. is hashing out a plan to acquire up to 10 additional polar icebreakers for the U.S. Coast Guard.Trump, who over the years has emphasized his administration's commitment to growing the Coast Guard's icebreaker fleet, outlined the new plans in vague terms within remarks delivered at Southern Command headquarters in Doral, Fla., Friday.
Two Canadian shipyards have joined forces in a bid for the contract to deliver the next polar icebreaker under Canada's National Shipbuilding Strategy (NSS).Seaspan Shipyards (Vancouver Shipyards Co. Ltd.) and Heddle Shipyards (Heddle Marine Service Inc.) announced Tuesday they will big as partners to build the Canadian Coast Guard’s future polar icebreaker to replace the decades old CCGS Louis S.
The good news is that work has commenced on the first new heavy polar icebreaker for the United States Coast Guard in 43 years. The bad news is that when it enters service, projected to occur in FY2024, it will be the first new heavy polar icebreaker for the USCG in 47 years.Meanwhile, Russia has approximately 30 active polar icebreakers, including four that are nuclear powered.
A jump in freight rates has shaved profits for oil traders seeking to store crude for sale towards the end of the year, even as the contango in the first six months for Brent futures stretched to its widest ever, trade sources said.While a sharp rebound in spot crude differentials could lift traders' profits
Supertanker freight rates are on the rise for a second time this month as producers, refiners and traders scramble to secure ships to transport crude or store a fast-growing global glut of oil, industry sources said.Freight rates for very large crude-oil carriers (VLCC) along the Middle East Gulf to China route were assessed at about $180,000 a day on Monday, up from some $125
SINGAPORE, March 24 -- From banks of screens and giant phones in the office, energy traders worldwide are adapting to a laptop in the bedroom -- and it's going surprisingly well.Working from home has become the new norm in the oil trading hubs of Singapore, London and New York as governments encourage physical distancing to curb the spread of coronavirus.
Marine equipment supplier MacGregor said it has received an order from shipbuilder VT Halter Marine to supply deck machinery and cargo handling equipment to the U.S. Coast Guard Polar Security Cutter (PSC) program. The order is booked into Cargotec’s fourth quarter 2019 order intake, with delivery planned to take place in the third quarter of 2021.
U.S. Coast Guard Commandant Adm. Karl Schultz outlined his vision for the service Thursday during the State of the Coast Guard Address in Charleston, highlighting the organization’s top initiatives, accomplishments over the past year, and challenges facing the service today and on the road ahead.
The U.S. Coast Guard's sole heavy icebreaker arrived January 22 at McMurdo Station, following a 58-day transit from the United States. Cutter Polar Star (WAGB 10) departed its’ homeport of Seattle on November 26.This year marks the Polar Star’s 23rd journey to Antarctica in support of Operation Deep Freeze, an annual joint military service mission to resupply the United States Antarctic stations