Post Tagged with: "shipping"
U.S. regulator expects to find abuses in shipping amid supply chain woes
WASHINGTON – The head of a U.S. commission that oversees ocean transportation said in an interview on Tuesday he suspects some ocean carriers have improperly charged importers, one of many factors driving supply chain woes.
A broad range of …
Suez Canal says close to clearing backlog after ship dislodged
CAIRO – The Suez Canal said on Friday it was close to clearing a backlog of shipping that built up when a giant container ship was grounded in the waterway.
Suez Canal Authority (SCA) Chairman Osama Rabie told Egypt’s …
Investigation begins into how ship got stuck on Suez Canal
ISMAILIA, Egypt – Formal investigations into how the giant container ship Ever Given ran aground in the Suez Canal, shutting down shipping in the major global waterway for almost a week, begin on Wednesday, a canal official told Reuters.…
Cargo from Dubai arrives in Haifa, cementing Israel-UAE trade route
HAIFA, Israel – The ship-to-shore crane paused above the cargo ship just arrived from Dubai, then set its load down on the pier in Israel.
One after another, eight containers filled with electronics, cleaning supplies, iron and firefighting equipment …
U.S. firm invests $100 million into VLCC-ready oil export terminal
Connecticut private firm Prostar Capital plans to invest $100 million into a recently acquired terminal in the Caribbean that will be able to receive some of the largest oil tankers in the world.
Prostar bought the facility on …
Crude Exporters Brace for Sustained High Shipping Costs
The U.S. blacklisting of the Cosco tankers set tanker freight rates on fire, but maritime fundamentals will keep prices high
Crude oil exporters and users probably should get used to high shipping costs.
The freight-rate roller coaster …
Tankers sail after U.S. allows sanctions-hit COSCO unit to wind down oil deals
At least three tankers are on their way to Asia with U.S. oil cargoes after Washington gave temporary approval to wind down transactions with a Chinese shipping company that it sanctioned last month, according to data and shipping sources.…
Iranian Tanker Sought by US Heading Toward Greece
An Iranian supertanker with $130 million worth of light crude oil that the U.S. suspects is tied to a sanctioned organization left Gibraltar and was heading east into the Mediterranean Sea on Monday, with its next …
Iran Says it Expects Tanker Held by U.K. to Be Released Soon
Iran expects an oil tanker seized by the U.K. in the Strait of Gibraltar in July will be released soon, the semi-official Fars News agency reported Tuesday, a move that could help to ease concerns about …
Can Blockchain Technology Bring Smooth Seas to Global Shipping?
Can it shorten transit times, lower costs?
From Stratfor Worldview
Distributed ledger technology has the potential to substantially increase the efficiency of the global shipping industry by lowering costs and shortening transit times.
First movers will compete to set standards …
A Minimum of 5.7 Billion Barrels Await Drillers at ANWR
The Arctic National Wildlife Refuge (ANWR) is located on the northern coast of Alaska, due east of both Prudhoe Bay and the National Petroleum Reserve-Alaska (NPRA). The coastal plain (the 1002 Area) covers 1.5 million acres and is about 8% …
Too Many Crude Tankers is a Major Obstacle for Market’s Restoration of Balance
The single biggest stumbling block which is hindering the crude tanker market’s recovery and is bound to continue doing so, is the excess supply of ships, a trend which isn’t going away anytime soon.
In its …
Shipping Energy: What’s Safe, What’s Not?
Shipping choke points could be security threat
The EIA estimates that approximately 61% of the total world petroleum supply—or 58.9 million BOPD—travelled in maritime tankers. The oil in these tankers represents nearly 28% of the world’s shipping in weight alone.…
The Fuel Mandate that Could Sway Refineries’ Appetites to Lighter Crude
International Maritime Organization legislation looks to lower emissions from ships to 0.5% from 3.5% by 2020
A push for cleaner fuels in the world’s maritime industry could drastically change the appetite of the world’s refineries, and the producers of …
OPEC Update: Saudi Strikes Yemen Rebels, Oil Major Fined for Circumventing Sanctions
Conflict near Sea Trade Chokepoint, Schlumberger Fined $232 Million
Prices of West Texas Intermediate (WTI) climbed above $50 for the first time in two weeks after multiple outlets reported conflict in the Middle East. Saudi Arabia has engaged in airstrikes …