The Panama Canal Authority said it won an arbitration ruling on Friday for $265 million to be returned to it from the consortium that built a third set of locks for the key transoceanic waterway. The authority cited a decision from a Miami-based arbitration board it said was issued earlier on...
Oil prices dipped on Monday as rising coronavirus cases upset hopes for a smooth recovery in fuel demand, with the main crude benchmarks on track for their first monthly falls in multiple months after slipping last week. Brent crude LCOc1 fell 37 cents, or 0.9%, to $41.55 a barrel by 0652 GMT after...
https://www.hellenicshippingnews.com/oil-slips-as-surge-in-virus-cases-clouds-demand-recovery/
A consortium led by as a state-run gas company was selected to build South Korea’s first vessel for liquefied natural gas (LNG) bunkering, which is the supplying of fuel for use by ships and includes the shipboard logistics of loading fuel and distributing it among available bunker tanks. Korea Gas...
The European Union’s drive to use financial pressure to cut greenhouse-gas emissions risks inflaming tensions over international trade. The European Parliament voted this month to require that oceangoing ships pay for the pollution they cause when they carry cargo to and from Europe by bringing...
Saudi Arabia has become the latest country to restrict the use of open loop scrubbers in its ports. A circular issued by the Saudi Ports Authority on 19 August, 2020, calls for the prevention of the discharge of washwater from ships with open loop types of exhaust gas clearing systems (EGCS) “until...
https://www.hellenicshippingnews.com/more-countries-impose-restrictions-on-scrubber-discharge-water/
MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO (Gasoil) in the main world hubs) demonstrated slight irregular changes on Sep.25: 380 HSFO – USD/MT – 292.71 (+1.90) VLSFO – USD/MT – 342.00 (+3.00) MGO – USD/MT – 404.80 (-0.38) Meantime, world oil indexes also...
https://www.hellenicshippingnews.com/mabux-bunker-market-this-morning-sep-28/
China’s imports of liquefied natural gas will likely grow 10% to new highs this year as companies scoop up cheap supplies to cover increasing industrial use and robust residential demand. With its total natural gas use likely expanding at 4-6% this year, China is the only major bright spot on the...
Expectations are growing that Samsung Heavy Industries will receive large-scale LNG carrier orders from Mozambique and Russia. Samsung Heavy Industries have recently won orders for four Suezmax crude carriers from two European shipping companies. Norwegian shipping company NAT reported on its...
Tankers carrying Iranian gasoline that was confiscated by the U.S. government and became embroiled in a court ownership battle have struggled to discharge in the United States, shifting course over the last week. The U.S. Department of Justice last month seized over 1 million barrels of Iranian...
Russia was the biggest oil supplier to China in August for a second consecutive month, customs data showed on Friday, with Saudi Arabia trailing after its volumes dropped by one-third. Russia supplied 5.8 million tonnes of crude oil in August, data from China’s General Administration of Customs...