Deutsche Bank is on course to make up to $1 billion on a long-shot bet on Israeli shipping firm Zim after it surged in value on the back of record-high global freight rates, Bloomberg reported on Tuesday.Citing unnamed sources familiar with the matter, the report said that Mark Spehn, a distressed debt trader at the German bank
Traders provisionally booked at least six tankers to ship gasoline from Europe to U.S. destinations following a cyber attack that shut the United States' top fuel pipeline network, Refinitiv Eikon data showed on Monday.The attack forced the Colonial Pipeline to shut down its entire system on Friday, stoking expectations of gasoline shortages along the U.S. East Coast.
China will construct a “Polar Silk Road” and actively participate in the development of Arctic and Antarctic regions, it said in its new 2021-2025 “five-year plan” published on Friday.The plan said China would “participate in pragmatic cooperation in the North Pole” and “raise its ability to participate in the protection and utilization of the South Pole”.
Congestion delaying LNG shipments via the Panama Canal is expected to last through the peak demand winter months, traders close to the situation said, although the canal's regulator said it had made changes to speed up transit.The price of liquefied natural gas (LNG) and shipping rates have hit record highs because of the bottleneck, supply constraints and heavy demand from Asia
Freezing temperatures across Asia and Europe are driving liquefied natural gas (LNG) prices to record highs and pushing up the cost of shipping the fuel globally as buyers grapple with tight inventories and a shortage of tankers.Demand for super-cooled natural gas has surged in recent years as buyers, particularly China and India, move away from dirtier coal-polluting power plants.
The Coast Guard Research and Development Center (RDC) teamed up with Coast Guard Cutter Campbell’s crew this summer to evaluate five technologies as part of the RDC’s annual Arctic Technology Evaluation. The Campbell crew conducted the evaluations during their two-month deployment supporting joint Arctic operations off Greenland’s western coast, returning to their Kittery, Maine, homeport on Sept.
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
When Captain Will Whatley guides a ship through Arctic waters, he is starkly aware of what can go wrong.Double the manpower is needed to navigate. Lookout shifts are kept to just one hour, so sailors don't lose concentration and miss a mass of floating ice. Big icebergs show up on radar, but smaller, truck-sized "bergy bits"—even more dangerous—can be missed, the captain says.
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
Please describe your professional background and what attracted you to your current position.In June 2020, I was named president and chief executive officer of Halter Marine. I had been retired around six years. My wife and I bought a piece of property outside of Brookhaven, Miss., and we were enjoying retired life split between our country property and our home in Gautier, Miss.
Australia is investigating media reports that China has stopped taking its coal shipments, Prime Minister Scott Morrison said on Tuesday, adding that such import quotas to support China's market were "not uncommon".Trade industry reports late last week suggested that some Chinese ports had been told not to accept Australian thermal and metallurgical coal
More than half a dozen liquefied natural gas (LNG) tankers were waiting to enter U.S. export plants in the Gulf of Mexico as Hurricane Delta marches toward the Gulf Coast.Most tankers were located outside of Cheniere Energy Inc’s Sabine Pass and Cameron LNG’s Cameron plants in Louisiana, according to data from Refinitiv. There were also a few outside of Freeport LNG’s Freeport plant in Texas.