Ship assessors are resorting to virtual inspections of oil tankers to keep vessels afloat, as the coronavirus pandemic makes physical visits to check for seaworthiness tougher and a slump in fuel demand increases the need for ships as storage
The first of five Iranian tankers carrying fuel to Venezuela has moored at a port serving the South American country’s El Palito refinery, the nation’s oil minister said Monda
Japanese shipping company Nippon Yusen KK expects the coronavirus pandemic to reduce its recurring profit by 50-60 billion yen ($464 million-$557 million) for the year to next March
The tanker, named Fortune, reached the country's waters at around 7:40 p.m. local time (1140 GMT) after passing north of the neighboring dual-island Caribbean nation of Trinidad and Tobago, according to vessel tracking data from Refinitiv Eikon
China is targeting a 2020 budget deficit of at least 3.6% of GDP, above last year's 2.8%, and fixed the quota on local-government special bond issuance at 3.75 trillion yuan ($527 billion), up from 2.15 trillion yuan, according to Li
Miami - Virgin Voyages, the new adults only cruise line that was originally scheduled to debut this spring, will now sail its first cruise on October 16, 2020. Virgin Voyages has canceled all cruises through October 15, 2020. The cruise line has also rescheduled the Richard’s Birthday Bash sailing for July 14th, 2021
The Bulgarian captain of a Portuguese-flagged cargo ship who was kidnapped along with seven other sailors by pirates off the coast of Benin last month, has been freed
The companies, based in Genoa (Costa) and Geneva (Msc), share the Italian market, and are planning shorter-than-usual cruises with stops only at domestic ports.
"I agree with what our CEO Jeremy Nixon said: quarantines and lockdowns in many parts of the world have created new ways of working, asking our industry to adapt to keep the management level of our business high - says Angelo Chiarlo, Italy Country Head of Ocean Network Express (ONE) - Today we must guarantee minimal interruptions to our daily operations through excellent e-commerce and e-payment tools"
Guaido said the fact President Nicolas Maduro's socialist government is importing fuel shows its mismanagement of the country's oil industry. Venezuela's refining network has 1.3 million barrels per day (bpd) of capacity, but has collapsed after years of underinvestment
Duisburg - China-Europe rail freight is bucking the pandemic-wide trend of falling air and ocean volumes, boasting double-digit growth this year. According to China Railway Group, 2,920 trains ran between January and April, carrying 262,000 teu, up 24% year on year. Last month alone, westbound volumes were up 58% and eastbound 29%, totalling 88,000 teu
Dubai - Wilhelmsen Ships Service (WSS) is continuing to handle critical shipments within GCC countries during the COVID-19 lockdown of land borders by utilising different sea freight solutions. Their team in Dubai recently handled 1,706mt of steel plates from Hamriyah Free Zone Port in Sharjah to Shuwaikh Port (Kuwait
Piraeus - Greece’s largest port – Piraeus – saw marginal increase in the number of containers handled in the first quarter of 2020. Despite the great decline in international trade due to COVID-19, Piraeus managed to marginally increase the number of containers handled on an annual basis
The European Union’s carbon market could capture a large chunk of emissions from outside Europe if the bloc succeeds in including shipping in the scheme, according to the European Commission’s first report on maritime CO2 emissions
Sydney - A Singapore-flagged cargo ship lost at least 40 containers in deep waters off the coast of Sydney when they fell overboard in heavy seas
Il Cairo - In 1970, many African countries had been independent for barely 10 years and their economic development agenda, which was still in its infancy, included ambitious plans to develop inland ports. These ports were to serve as intermodal nodal points with the aim of achieving a seamless network of railway lines and roads linked to the region’s seaports
Port Canaveral - The crew of the SpaceX Fleet ship "Go Searcher" performed a good Samaritan rescue on Friday while practicing recovery of the Crew Dragon astronaut capsule. The 54-year-old man was rescued by the Good Samaritan vessel near Port Canaveral
Dubai - There has been a slow and cautious easing of restrictions in ship recycling sectors across the Indian subcontinent markets as certain yards get back to work in Alang and a few vessels waiting for special permissions in Bangladesh have finally been allowed to beach this week.
Copenhagen - Crude oil tanker earnings have come down sharply in recent weeks with Very Large Crude Carrier (VLCC) earnings from the Middle East Gulf to China dropping 68% in just nine days (from USD 222,591 per day on 22 April to USD 71,885 per day on 4 May)
Kuala Lumpur - Indonesia's Government has condemned the alleged abuse of Indonesian fishermen aboard a Chinese fishing vessel, after footage of a body bag being thrown overboard caused widespread outrage in the South-East Asian country
Hamburg - German engine builder MAN Energy Solutions has partnered up with Japanese shipbuilder Imabari Shipbuilding, ClassNK classification society, Mitsui E&S Machinery
Response Measures to COVID-19 for the Marine and Offshore Industries provides best practice guidelines for sanitizing assets exposed to COVID-19 and helps maritime leadership address the many challenges the virus brings.
Hamburg will be much less busy this September after it was announced that SMM, the leading international maritime trade fair, has been postponed to 2-5 February 2021 in response to the coronavirus pandemic and its global impact
Monaco - Tanker owner and operator Scorpio Tankers has secured additional liquidity having received new loan commitments for debt repayment. The company said it had received a commitment for a new credit facility for up to $225 million
German shipyard Meyer Werft’s Finnish subsidiary on Tuesday started statutory talks to lay off up to 450 of its roughly 2,000 employees because of a hit to business from the coronavirus pandemic
U.S. crude prices settled about 3% lower on Tuesday after data showing domestic stockpiles didn’t rise as high as had been expected given tightening storage, despite pledges to cut production from May 1.
On this trip, the ship “Eagle Brasilia”, coming from the port of Sullom Voe, in the United Kingdom, docked at the Liquid Bulk Terminal to unload 100 thousand tons of crude to the Sines refinery
Genova - Several of Europe’s leading shipbuilders have announced plans to slowly resume operations after more than a month of disruptions. During the peak of the coronavirus, shipbuilders in Italy, France, Spain, and Germany were each forced to suspend operations