Business

The MV Maersk Honam on fire in the Arabian Sea, March 8, 2018. 10 JUN 2019 It seems the ultra-large container vessels (ULCVs) that have become the ‘new normal’ on the Asia-Europe tradelane have not proved as popular as the lines that operate them hoped. Several shippers at Transport Logistic …

The Houston Ship Channel and adjacent refineries, part of the Port of Houston, are seen in Houston, Texas, U.S., 09 JUN 2019 By Erwin Seba HOUSTON, June 10 (Reuters) – Global prices for diesel and marine fuels should rise by October ahead of a January switchover to new, very low-sulfur …

LNG bunkering at Port of Gothenburg. 08 JUN 2019 The rapid growth in installed LNG tank capacity points to a potential boom in LNG for larger vessels over the coming years and could mark the start of a new era in ship fuel, according Martin Wold, head of the Alternative Fuels …

A damaged Andrea Victory ship is seen off the Port of Fujairah, United Arab Emirates, 07 JUN 2019 An investigation into a spate of attacks on oil tankers in the Middle East last month has concluded that a “state actor” is to blame, according to a summary of the preliminary …

06 JUN 2019 Washington’s escalating trade war with Beijing hasn’t choked off the flow of American oil to China. At least six million barrels of U.S. crude set off for Chinese refineries in May, according to ship tracking data compiled by Bloomberg. In June, American shipments to the Asian nation …

A Long March-11 rocket takes off from an offshore platform in the Yellow Sea off Shandong province, China June 5, 2019. 05 JUN 2019 China successfully launched a rocket from a ship at sea for the first time on Wednesday, state media reported, the latest step forward in its ambitious …

Graphic courtesy Allianz Global Corporate & Specialty SE 04 JUN 2019 Large shipping losses in 2018 fell to their lowest level this century, having declined by over 50% year-over-year, according to Allianz Global Corporate & Specialty SE’s annual review of shipping losses over 100 gross tons. Allianz’s Safety & Shipping Review 2019, …

03 JUN 2019 Medium-sour crudes from the U.S. Gulf of Mexico are being snapped up by overseas buyers, paving way for a record six supertankers to load at the Louisiana Offshore Oil Port (LOOP) in a matter of weeks, according to people familiar with the matter. The six scheduled loadings …

26 MAY 2019 Globalization has brought the most advanced trading networks the world has seen, with the biggest, fastest vessels, robot-operated ports and vast computer databases tracking cargoes. But it all still relies on millions and millions of paper documents. That last throwback to 19th century trade is about to …

M/T Ridgebury Alexandra Z. 31 MAY 2019 A jury in the Western District of Louisiana has acquitted the Russian Master of an oil tanker on all charges related to illegal discharges from the vessel. After spending more than 19 months detained in Lake Charles, Louisiana, Captain Vjaceslavs Birzakovs, Master of …