Oil product inventories at Fujairah on the UAE’s east coast slipped to a two-week low…
Shipping
Vitol Bunkers offers carbon offsets ahead of new EU climate legislation
Vitol Bunkers, the recently formed marine arm of commodities trader Vitol, is offering carbon offsets…
Container shipping grapples with China ports operational delays
Many container shipping companies have been forced to draw contingency plans to mitigate supply chain…
Exporters, buyers brace for normal flows of Iranian LPG, condensate
Iranian exporters aim to increase LPG exports to full capacity, if the Biden administration lifts…
South Carolina Ports handles second highest container volume ever in May
South Carolina Ports handled its second highest monthly container volume on record in May following…
Force Majeure Declared: COVID-Hit ‘Ital Libera’ Returning to Italy with Body of Deceased Captain
The Italian-flagged containership Ital Libera is sailing back to Italy to repatriate the body of its deceased captain who apparently passed away from COVID-19 and was denied entry into Asia….
South China Ports in Crisis as Congestion Spreads
By Sam Whelan (The Loadstar) – South China’s port congestion has gone from bad to worse – delays at Yantian are spilling over to nearby Shekou and Nansha. When the bottleneck began over two…
Limited Tanker Capacity Delays Russian Arctic LNG Shipments to Asia
By Dina Khrennikova and Olga Tanas (Bloomberg) — Russia’s largest liquefied natural gas producer plans to start shipments to Asia across the Arctic in mid-June, one month later than last year,…
Traders Keep North Sea Crude on Tankers Despite Rally
By Sherry Su (Bloomberg) — Here’s something for oil bulls to chew on as Brent crude trades near $72: tankers are holding several million barrels of oil in the North Sea…
America’s Marine Economy Contributes Nearly $400 Billion to U.S. GDP: Study
The U.S. government’s first official study on the economic impact of the nation’s marine economy shows that marine-related sectors contributed nearly $400 billion to the overall U.S. GDP in 2019….