Turkish refiner Tupras has halted Russian crude oil purchases following U.S. sanctions imposed on Jan. 10 against Russian energy firms and oil tankers, local media reported. Tupras, Türkiye’s largest oil company, disclosed the decision during its financial results meeting, according to Turkish...
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Cargill and Hafnia Launch Seascale Energy to Accelerate the Transformation of Marine Fuel Procurement Services
Cargill’s Ocean Transportation business and leading tanker shipping company, Hafnia, have joined forces to launch Seascale Energy, a joint venture, combining Cargill’s existing bunker business Pure Marine Fuels and Hafnia’s Bunker Alliance. By combining the strengths of two global players, Seascale...
DP World’s Latin America Terminals Achieve Record-Setting Growth in 2024
Four of DP World’s port terminals across Latin America achieved record-breaking container-handling volumes in 2024, mirroring the company’s global success and reaffirming its strategic vision for the region. DP World handled an unprecedented 88.3 million twenty-foot equivalent units (TEUs) globally...
Royal HaskoningDHV wins major design project for two Mumbai shipyards including India’s largest shipbuilding dry dock
Royal HaskoningDHV, the international engineering company, has won contracts worth a total of around €9 million from Mazagon Dock Shipbuilders Limited (MDL), India’s leading shipbuilder. The scope is to provide comprehensive design and project management services for the construction of two new...
Onboard carbon capture: a bridge to zero-emission shipping?
In the long run, alternative fuels are expected to help shipping achieve net zero greenhouse gas (GHG) emissions by 2050. However, the inescapable fact is that the majority of the current world fleet cannot be retrofitted to run on alternative fuels, meaning they will rely on fossil fuels for the...
https://www.hellenicshippingnews.com/onboard-carbon-capture-a-bridge-to-zero-emission-shipping/
Tanker Weekly Market Monitor: Russian Oil Flows
The evolving geopolitical landscape surrounding the Russia-Ukraine war and global energy markets presents critical implications for crude oil supply and trade dynamics. As diplomatic efforts emerge to end the conflict, the oil market is closely monitoring potential changes in supply, demand, and...
https://www.hellenicshippingnews.com/tanker-weekly-market-monitor-russian-oil-flows/
HSFO backwardation firms in sentiment-driven rally
Singapore backwardation spread for 380-cst high sulphur fuel oil (HSFO) received a further boost on Wednesday, though market sources said the rally was largely driven by sentiment and position taking. The 380-cst HSFO March/April spread widened above $18 per metric ton at Asia close, compared to...
https://www.hellenicshippingnews.com/hsfo-backwardation-firms-in-sentiment-driven-rally/
New Report Shows That Green Shipping Corridors Will Need Additional Support Under A Global Fuel Standard
Under current and prospective policies from the IMO, EU, and US, the business case for green shipping corridors could improve markedly – but not sufficiently – according to a new report published by UMAS, UCL and the Global Maritime Forum (GMF). Titled ‘Building a Business Case for Green Shipping...
Saudi Red Sea Authority and Ministry of Municipalities and Housing Sign MoU to Enhance Marina Development
The Saudi Red Sea Authority (SRSA) has signed a memorandum of understanding (MoU) with the Ministry of Municipalities and Housing to enhance collaboration on the establishment, development, and operation of marinas. The agreement also covers the creation of marine vessel maintenance centers, beach...
US natgas prices jump 6% to one-month high as wells freeze
U.S. natural gas futures jumped about 6% to a one-month high on Wednesday as extreme cold in some parts of the country boosted demand for the fuel for heating and cut output by freezing oil and gas wells. Traders noted prices also gained support as gas flows to liquefied natural gas (LNG) export...
https://www.hellenicshippingnews.com/us-natgas-prices-jump-6-to-one-month-high-as-wells-freeze/