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...
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...
The European Public Prosecutor’s Office (EPPO) in Nicosia (Cyprus) has opened an investigation into a project for a liquefied natural gas (LNG) import terminal in Cyprus, on suspicion of procurement fraud, misappropriation of EU funds and corruption. The project aims to create an entry point for...
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/
Egypt has issued a tender seeking five spot cargoes of liquefied natural gas (LNG) for delivery from August to September, two industry sources said. In recent months Egypt has been seeking LNG to cover heavy summer demand from July through September, and fully awarded its biggest tender in years to...
https://www.hellenicshippingnews.com/egypt-issues-tender-seeking-five-spot-lng-cargoes-sources-say/
Dutch tank storage company Vopak lifted its full-year core profit guidance on Friday after it beat a quarterly forecast for the metric, driven by strong demand across its markets and increased capacity as it invests in new terminals. Instability in the Middle East has stretched global energy supply...
Russia’s natural gas output in January-June increased by 8.3% year on year to 357.3 billion cubic metres (bcm), Kommersant daily reported on Friday, citing sources familiar with energy ministry data. In June, natural gas output increased by 9.5% from a year earlier to almost 49 bcm as Russia’s...
The Energy Market Authority (EMA) and the Maritime and Port Authority of Singapore (MPA) have shortlisted two consortia that will proceed to the next round of evaluations of proposals to provide a low- or zero-carbon ammonia solution on Jurong Island for power generation and bunkering. The two...
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/