Damen Delivers Second Combi Freighter 3850 to Reederei Bernd Sibum
On March 25, Damen Shipyards Group delivered the second of four Combi Freighters (CF) 3850 to Reederei Bernd Sibum following successful sea trials in Shanghai. The vessels are being constructed at Damen Yichang Shipyard in China. The first vessel, delivered at the beginning of February, is currently on its maiden voyage, bound for Norway with a project cargo.The new generation CF 3850 vessels are designed for high efficiency.
NOAA Ship Rainier to Map Critical Mineral Deposits in Pacific US Waters
In early April, NOAA Ship Rainier will begin to map and characterize more than 8,000 square nautical miles of federal waters off Kingman Reef and Palmyra Atoll in the Pacific Ocean. This project is part of the Department of Commerce's implementation of the U.S. Offshore Critical Minerals Mapping Plan, as described in President Trump’s Executive Order 14285: Unleashing America's Offshore Critical Minerals…
DOE Relocates Headquarters in DC
The U.S. Department of Energy (DOE), in partnership with the U.S. General Services Administration (GSA), announced that DOE’s headquarters will relocate from the James V. Forrestal Building to the Lyndon B. Johnson (LBJ) building. LBJ currently serves as the headquarters for the U.S. Department of Education (ED).The relocation to the LBJ building will save taxpayers over $350 million in deferred maintenance…
Carnival Corp Slashes Annual Profit Forecast Due to Rising Fuel Costs
Carnival Corp cut its annual profit forecast on Friday, as higher fuel costs pressure the cruise operator's margins amid rising geopolitical tensions.Attacks on oil and transport facilities across the Middle East and disruptions to energy flows through the Strait of Hormuz, which carries about a fifth of global oil flows, since the Iran war outbreak, have disrupted global supply and pushed up oil prices.The spike threatens Carnival's profits as it is the only major U.S.
Russian Oil Producers Threaten Force Majeure Over Baltic Port Attacks
Russian oil producers have warned buyers they could declare force majeure on supplies from major Baltic Sea ports as Ukraine presses ahead with attacks on Russian energy infrastructure, two industry sources said on Friday.Ukrainian President Volodymyr Zelenskiy told Reuters this week that Kyiv was using long-range strikes to maintain pressure on Russia after international oil sanctions on Moscow were eased due to global supply disruptions caused by the Iran war.Ukrainian drones on Friday targete
Much of Dutch Fishing Fleet Stands Idle Amid High Diesel Prices
The fishing industry is emerging as an early European casualty of soaring diesel costs amid the Iran war, with at least half the Dutch fleet staying in port this week, according to industry representatives.The pressure is most acute in the Netherlands because of an outsized number of beam trawlers in its fleet, which makes up about 7% of the European Union's total.These ships target high-value North Sea flatfish such as sole, turbot and brill, but burn relatively large amounts of fuel.
Oil Tanker Loaded with Russian Fuel Arrives in Venezuelan Waters, Bound for Cuba
A tanker carrying some 200,000 barrels of Russia-origin fuel originally bound for Cuba has arrived in Venezuelan waters, LSEG ship-monitoring data showed on Friday.The Hong Kong-flagged vessel Sea Horse, which this year loaded Russia-origin diesel through a ship-to-ship transfer, earlier this month rerouted from Cuba to Venezuela after remaining stuck in the Atlantic Ocean for weeks, a blow for the…
Russia's Threatens to Divert LNG Cargo From Europe, Options Limited
Russia's threat to halt liquefied natural gas (LNG) deliveries to Europe and divert cargoes to Asia would prove difficult to achieve because of its long-term contracts and need for more Arctic-class tankers, industry analysts said.President Vladimir Putin said in a TV interview early in March that Russia could stop gas supplies to Europe with immediate effect and seek longer-term commitments from other buyers.The impact of the U.S.-Israeli war on Iran has caused a surge in gas prices…
Chinese Container Ships Turn Back After Trying to Exit Strait of Hormuz
Two Chinese container ships turned backed after trying to exit the Gulf via the Strait of Hormuz on Friday, ship-tracking data showed, despite assurances from Iran that Chinese vessels could pass.The operator, China's COSCO, had said in a March 25 client advisory that it had resumed bookings for general cargo containers for shipments from Asia to the United Arab Emirates, Saudi Arabia, Bahrain, Qatar…
U.S. Great Lakes Shipping Stands Still Due to Ice Conditions, Lack of Icebreakers
A little over a day and half since the Soo Locks opened providing access to Lake Superior and critical raw materials like iron ore, and the U.S.-flagged Great Lakes commercial fleet is at a standstill in the St. Marys River and Whitefish Bay, the critical connection between Lakes Superior and all other Great Lakes.The only way into Lake Superior is through the St. Marys River and Whitefish Bay, but ice conditions and a lack of a heavy U.S.
Propane Uptake in Ports Takes Off
When if comes to energy transition, few alternative fuels tick as many boxes as propane, as propane offers much lower emissions when compared to diesel; the price of the fuel is more stable, less tied to crude oil volatility; the infrastructure to get started inside ports is simple, consisting of a storage tank, pump, and dispenser; and last but not least, renewable propane is available. Jim Bunsey from the Propane Education Research Center (PERC) discusses these advantages and more…
UAE Stands Ready to Join Force to Reopen Strait of Hormuz
The United Arab Emirates has told the U.S. and other Western allies it would participate in a multinational maritime taskforce to reopen the Strait of Hormuz, the Financial Times reported on Friday, citing people familiar with the matter.The UAE is trying to push dozens of countries to create a “Hormuz Security Force” to defend the strait from Iranian attacks and escort shipping, the report added.The UAE has faced more Iranian attacks than any other country in the region…
Russia’s Lavrov Says US Seeking Control of Nord Stream Gas Pipelines
Russian Foreign Minister Sergei Lavrov said the U.S. has been seeking control over the Nord Stream gas pipelines in the Baltic Sea, which were damaged by mysterious blast in September 2022.Explosions that destroyed the pipelines more than three years ago largely severed Russian gas transit to Europe, squeezing energy supplies on the continent although Russia had already largely stopped deliveries.Russia and Western countries have both said the incident was an act of sabotage.
Cyclone Disrupts Australia’s Biggest LNG Plants, Strains Global Market
A powerful tropical cyclone in Western Australia has disrupted production at the country’s two biggest liquefied natural gas plants run by Chevron and Woodside, exacerbating a global supply crunch caused by the conflict in the Middle East.Australia became the world’s second-largest LNG exporter after Qatar shut down production this month following damage to its facilities from Iranian strikes. Global…
