Iran has released the oil cargo of a Greek-owned, Marshall-Islands-flagged tanker it seized in the Gulf of Oman earlier this year, a shipping source told Reuters on Thursday. The vessel, M/T St. Nikolas, is still being held by Iran, the source added. It was laden with 1 million barrels of Iraqi...
Mega-infrastructure projects: I am very sceptical about the mega-projects that are supposed to take place in the Middle East. I take this opportunity to invite you to connect with me on LinkedIn, as I have published long articles on the current geopolitics of the Red Sea. Today I will just say...
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia. While ammonia offers the alluring prospect of slashing greenhouse gas emissions, MIT researchers warn that without stricter regulations, the switch...
https://www.hellenicshippingnews.com/exercise-caution-with-ammonia-switch/
Asia’s market for very low sulphur fuel oil (VLSFO) logged a weekly climb, while downstream bunker premiums received an uplift after being trapped in a tight range for over four months. Singapore premiums for delivered VLSFO bunker fuel breached $16 per metric ton this week, with support coming...
This week’s chart underscores signs of a slight upward movement in the growth of dirty VLCC tonne days from the Arabian Gulf to the Far East, rebounding from the bottom low seen at the beginning of July. This positive trend is mirrored in WS rates for the MEG-China route, which recorded an uptick...
https://www.hellenicshippingnews.com/tanker-weekly-market-monitor-dirty-clean-tonne-days/
Kawasaki Kisen Kaisha, Ltd. (hereinafter, “the Company”) announces that differences arose between the consolidated financial forecasts for the fiscal year ending March 2025 from the previously announced forecasts on May 7, 2024. 1. Revision of Financial Forecasts 1) Consolidated Financial Forecasts...
Mitsui O.S.K. Lines, Ltd. yesterday announced that it has become the first Japanese shipping company to acquire third-party certification from Nippon Kaiji Kyokai (ClassNK) for social data in the area of human resources collected from MOL and its group companies (114 companies; Period covered:...
Fuel oil cracks softened in Asia on Thursday, while several spot tenders for August fuel oil sales closed, industry sources said. South Korea’s S-Oil offered a 300,000-barrels cargo of light cycle oil for loading between Aug. 21-25, as well as two slurry cargoes for loading between Aug. 11-15 and...
https://www.hellenicshippingnews.com/asia-fuel-oil-cracks-weaken-more-august-spot-tenders-close/
This week’s chart highlights the notable increase in the monthly volume of Russian grain shipments during the first two quarters of this year. By the end of the second quarter, shipments had risen by 15% compared to the previous quarter. Notably, Egypt emerged as the leading destination for Russian...
ABS has released guidance focused on ammonia bunkering, the first such advisory for the industry. The ABS Ammonia Bunkering: Technical and Operational Advisory considers the aspects of bunkering ammonia as a fuel, providing the maritime industry with a better understanding of the challenges...
https://www.hellenicshippingnews.com/industry-first-advisory-from-abs-on-ammonia-bunkering/