Trader Gunvor and French major TotalEnergies have stored North Sea crude in at least four tankers in the past month as on-water stockpiling of the grades hits a 2-1/2 year high, a fresh sign of weak appetite for oil from refiners.At least 2.6 million barrels of North Sea crude grades Forties and Gullfaks have been put in floating storage in Europe, the highest volume since January 2022
Risk is the "new normal" for the global ocean shipping industry that handles 80% of global trade as pressure from geopolitical tensions, rising protectionism and climate change mounts."There are going to be global tensions ... and I think global dangers, at a level we haven't seen since the end of World War II," former U.S.
The first electric tugs of the SAAM Towage's fleet, built by SANMAR Shipyards, have reached the Port of Vancouver in Canada. The vessels are named Saam Volta and Chief Dan George."We continue to make progress on this milestone for SAAM Towage, which is part of our strategy to drive innovation and development for increasingly sustainable operations.
As many as 35 oil tankers that usually carry crude or fuel oil could switch to carrying cleaner products like diesel and jet fuel in the next two months as shipowners chase higher profitability, oil analytics firm Kpler said in a LinkedIn post.An LR2 (long-range 2) type tanker typically carries cargoes of about 90,000 metric tons of cleaner fuels.
Two Chinese icebreaker research vessels and a cargo ship set sail on Wednesday for the Antarctic with more than 460 personnel on board to help complete construction of China's fifth station on the world's southernmost continent.China's biggest flotilla of research vessels deployed to the Antarctic will focus on building the station on the rocky, windswept Inexpressible Island near the Ross Sea
Naval architecture and engineering firm Friede & Goldman (F&G) and OIM Wind Ltd on Monday announced the FO-146 Wind Turbine Installation Vessel (WTIV). "The FO-146 is based on F&G’s WindSetter Class WTIVs. It combines the industry’s latest technology and innovative solutions to meet the evolving needs of the global offshore wind market," F&G said.
The world is not on track for zero-emission fuels to account for 5% of international shipping fuels by 2030, a new analysis has found, jeopardizing the shipping industry's 2050 decarbonization goal.Launched at the Global Maritime Forum's annual summit in Athens on Wednesday, the assessment finds that current scalable zero-emissions fuel (SZEF) production in the pipeline would cover just a
Maersk has teamed up with its majority owner to form a new company to produce "green methanol", the shipping company said on Thursday, as it held a naming ceremony for the world's first container vessel powered by the low-carbon fuel.Green methanol, produced either from biomass or captured carbon and hydrogen from renewable power
Russia on Tuesday released video footage showing an armed naval inspection unit boarding a cargo ship in the southwestern Black Sea on Sunday and questioning the captain about why the ship had not stopped when demanded to by a Russian warship.Russia said that it fired warning shots with automatic weapons at the Palau-flagged Sukru Okan vessel after it failed to respond to a demand for it to halt
Turkey's Sanmar Shipyards announced it has delivered a second electric-powered tug to HaiSea Marine in Canada.The newly built HaiSea Wee’git and its sister HaiSea Wamis, delivered earlier this year, will provide harbor and escort tugboat services to tankers calling at LNG Canada’s new export facility in Kitimat, British Columbia.
Iran's Revolutionary Guards' navy has unveiled new vessels equipped with 600-km range missiles at a time of rising tensions with the U.S. in the Gulf, the semi-official Tasnim news agency reported on Wednesday.The announcement was made during a military exercise off the coast of Abu Musa island, one of three Gulf islands under Iranian control but disputed by the United Arab Emirates.
A burning car carrier off the Dutch coast is being towed to a new location away from shipping routes as part of a difficult operation to salvage the ship, the Dutch water board Rijkswaterstaat and media said.The ship will be towed to a location 16 km north of the Dutch islands Ameland and Schiermonnikoog, Rijkswaterstaat said in a statement on Sunday.