Traders have rebranded more than $1 billion of Venezuelan oil shipments to China as Brazilian crude over the past year, according to two tanker tracking firms, company documents and four traders, helping buyers to cut logistics costs and circumvent U.S. sanctions.Independent refiners in China are the main buyers of seaborne oil shipments from countries sanctioned by the United States
Aqua superPower unveiled its bidirectional charging technology at the University of Plymouth, marking their demonstration debut of Virtual Bunkering for Electric Vessels (VBEV). This pioneering showcase represented an important step towards the wide scale adoption of electric boats, supported by Vessel-to-Grid infrastructure.
The global liquefied petroleum gas (LPG) market is facing an upheaval as high tariffs on U.S. imports force Chinese buyers to swap American cargoes for alternatives from the Middle East, while U.S. shipments divert to Europe and elsewhere in Asia.The shakeup is expected to depress the shale gas byproducts' prices and demand, hurt the bottom lines of U.S.
South Korea's business leaders are taking action to offset the threat posed by U.S. President Donald Trump's aggressive trade policies, hiring his former aides and lobbying Republican states out of frustration with delays by their own government which is mired in a political crisis.
Norwegian vessel owner and services provider Solstad Maritime Holding has outlined plans to apply for a listing of its shares on Euronext Oslo Børs during the second quarter of 2025.The listing is in line with the company’s previously expressed intention to list within 12 months after completion of its $66 million (NOK 750 million) equity raise in June 2024
The consortium consisting of UK and Canadian companies, led by Aqua superPower and BlueGrid, have launched the first transatlantic vessel-to-grid (V2G) project that will deploy bi-directional chargers and electric vessels in U.K.’s Plymouth and Canada’s Halifax.The $2.3 million (£1.
Vietnam's imports from China and exports to the United States both reached a post-pandemic record in April, amid talks with Washington to reduce Hanoi's trade surplus and a crackdown on Chinese goods being shipped to the U.S. via its territory.The Southeast Asian nation faces the risk of 46% duties on its exports to the U.S.
The Philippines said on Monday there was no truth to news reports that Beijing has seized control of a disputed reef in the South China Sea, after its personnel landed on the unoccupied sandbars and found no Chinese presence there.Chinese state broadcaster CCTV on Friday said its coast guard had landed on Sandy Cay as part of maritime control operations to exercise its sovereignty.
Esgian provides an update on semisub activities in Norway and Australia in its Week 23 Rig Analytics Market Roundup.Report SummaryContractsTransocean has announced contract fixtures for three harsh environment (HE) semisubmersibles. Together, the fixtures represent approximately $161 million in firm contract backlog.