Amy News

Russia remained China's top oil supplier in March, data showed on Saturday, as refiners snapped up stranded Sokol shipments.China's imports from Russia, including supplies via pipelines and sea-borne shipments, jumped 12.5% on the year to 10.81 million metric tons, or 2.55 million barrels per day (bpd) last month, according to data from the General Administration of Customs.That was quite close to the previous monthly record of 2.56 million bpd in June 2023.Seven Russian tankers under sanctions offloaded Sokol cargoes in Chinese ports in March…

Singapore has the potential to supply over 1 million metric tons of low-carbon methanol annually by 2030 to meet rising demand for alternative bunker fuel, a Singapore minister said on Tuesday.Singapore's Maritime and Port Authority (MPA) late last year started seeking proposals from companies to supply methanol as a marine bunker fuel at Singapore from 2025."On aggregate, the submissions have the potential to supply over one million tonnes per annum of low-carbon methanol by 2030," said Amy Khor, a senior minister of state, at the Singapore Maritime Week conference on Tuesday.The submissions

MAN Energy Solutions has opened its largest service hub outside of Europe, located in Tuas, Singapore.The EUR 20 million (S$30 million) investment will include a new MAN PrimeServ training academy for customers and employees, a logistics center to serve as the warehouse for Asia, and a PrimeServ workshop to provide maintenance and repair services, including for MAN Energy Solutions’ alternative-fuel engines.The facility has over 9,000 square metres of floor space, and MAN expects…

When people hear about underwater reefs, they usually picture colorful gardens created from coral. But some reefs are anchored to much more unusual foundations.For more than a century, people have placed a wide assortment of objects on the seafloor off the U.S. coast to provide habitat for marine life and recreational opportunities for fishing and diving. Artificial reefs have been created from decommissioned ships, chicken transport cages, concrete pipes, rail cars and more.We study how ocean-dwelling fish use artificial reefs in the U.S. and beyond.

An oil rig supervisor who earned more than $200,000 a year working for Houston-based Helix Energy Solutions Group Inc is entitled to overtime pay, the U.S. Supreme Court ruled on Wednesday in a decision with costly implications for the oil and gas industry.The court in a 6-3 decision authored by liberal Justice Elena Kagan decided that because the rig supervisor, Michael Hewitt, was paid a daily rate of $963 and not a salary, an overtime pay exemption in federal wage law for highly paid workers did not apply to him.The justices affirmed a 2021 ruling by the New Orleans-based 5th U.S.

The Lake Superior Research Institute (LSRI) at the University of Wisconsin-Superior has commissioned naval architecture firm Incat Crowther to design a new low-emission battery hybrid research vessel.The aluminum-hulled vessel will be built by Louisiana shipbuilder Midship Marine for expected delivery in spring 2024.Described as a ‘floating classroom’, the 65-foot USCG-certified catamaran will support the university’s on-water education and research and features proven parallel…

The Baltic Exchange's main sea freight index rose on Monday as higher rates for larger capesizes overshadowed a fall in the panamax and supramax segments.The overall index, which factors in rates for capesize, panamax, and supramax shipping vessels, was up 12 points, or 0.56%, at 2,162 points.The capesize index .BACI rose 48 points, or 1.64%, to 2,967 points.Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $394 at $24…

The Baltic Exchange's main sea freight index fell on Tuesday, snapping a five-day winning streak, pressured by a fall in the capesize and panamax segments.The overall index, which factors in rates for capesize, panamax and supramax vessels, dipped 112 points, or 4.3%, to 2,484.The capesize index lost 321 points, or 10.6%, to 2,710.Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, decreased by $2,661 to 22,477."A potential stronger availability in tonnage has helped boost rates on the West Australia—China trade...

Global Ports Holding PLC, the world's largest cruise port operator, said on Wednesday it had received an approach about a potential cash offer from Swiss-based MSC Mediterranean Shipping Company.Shares of the London-listed company closed up 19% at 109 pence and marked their best day in two years after Global Ports confirmed a Bloomberg report that MSC was considering taking a controlling stake in Global Ports.Global Ports, owned by Turkish businessman Mehmet Kutman, said the talks were ongoing and the deadline for the container group to make a firm offer or walk away is July 13.Global Ports, w

The newest hovercraft from Neoteric Hovercraft Inc. (Neoteric), the Hovertrek II, will be exclusively powered by Briggs & Stratton's Vanguard BIG BLOCK 40.0 Gross HP EFI - Marine engine.Designed for volunteer rescue departments and recreational hovercraft use, the two-passenger Hovertrek II includes side-by-side seating, increased thrust and low weight. The enhanced controllability, storage capacity and low weight of the two-passenger vessel make it an ideal training vehicle for…

The Baltic Exchange's dry bulk sea freight index slipped for a 13th straight session on Monday, as capesize rates hit their lowest level in more than two-months.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 24 points, or about 1.2%, to 2,031 points, its lowest since Feb. 18.The capesize index slipped 49 points, or 3.4%, to 1,395 points, its lowest level since early February.Average daily earnings for capesizes, which typically transport 150…

While those in the Beltway continue to struggle to offer solutions to U.S. supply chain capacity issues, it seems apparent that policymakers have at least found their scapegoat for these issues in the form of the maritime industry. A specific talking point during the State of Union Address, a White House-endorsed agreement between the Federal Maritime Commission (FMC) and Department of Justice (DOJ), multiple pieces of legislation, and a vigorous hearing before the Senate Committee on Commerce…

The U.S. Senate on Thursday unanimously passed a bill to improve oversight of ocean shipping, a step supporters say will help ease export backlogs.The Ocean Shipping Reform Act, led by Senators John Thune and Amy Klobuchar, would strengthen the investigatory authority of the Federal Maritime Commission (FMC), the U.S. agency that oversees ocean shipping, and boost transparency of industry practices.Senate Majority Leader Chuck Schumer said the legislation "will reduce costs for the American people…

The Baltic Exchange's dry bulk sea freight index fell to its lowest level in over three weeks on Thursday, dragged by sliding panamax and supramax vessel rates, although the main index posted monthly and quarterly gains.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, dipped 11 points, or about 0.5%, to 2,358 points, its lowest since March 8.The main index has gained about 6.4% this quarter and 15.6% in March, its second monthly gain this year.The panamax index dipped 95 points, or 2.9%, to 3,141 points.

The Baltic Exchange's dry bulk sea freight index dipped on Wednesday as rates dropped across all the vessel segments.The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, fell 98 points to 2,591 points.The capesize index fell 191 points to 2,632 points.Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, decreased $1,583 to $21,830.Benchmark Dalian and Singapore iron ore futures rebounded from two-week lows, after Beijing's indication to take measures to boost the domestic economy an

The Baltic Exchange's dry bulk sea freight index edged lower on Tuesday to snap a seven-session long winning streak, as losses in the panamax and supramax segments overshadowed a gain in capesize rates.The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, fell 38 points to 2,689 points.The panamax index was down 146 points at 2,946 points.Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, decreased $1,314 to $26,512.The capesize index gained 37 points to 2,823 points.Averag

Cruise operators Royal Caribbean Group and Viking Cruises canceled sailings to Russia on Wednesday, joining their rivals and many Western brands in suspending operations in the country after its invasion of Ukraine.Celebrity Cruises, owned by Royal Caribbean, said it was removing Russian port city St. Petersburg from upcoming itineraries, adding that it would visit other Scandinavian ports in its place.Silversea Cruises also said it would re-route summer voyages scheduled to stop in Russia and Ukraine, while Royal Caribbean International said it had canceled its visits to St.

U.S. Bureau of Safety and Environmental Enforcement (BSEE) inspectors and engineers last week carried out an offshore regulatory pre-production inspection of Murphy Oil’s King’s Quay floating production system (FPS) platform. The facility, a semi-submersible FPS, is now currently moored in Green Canyon Block 433 in the deepwater Gulf of Mexico, about 175 miles south of New Orleans.“The first offshore follow-up inspection is a very crucial time in the installation of a new production platform in the Gulf,” said BSEE Houma District production supervisor Micah Charpentier.

The Baltic Exchange's dry bulk sea freight index was little changed on Wednesday, as higher rates for panamax vessels countered a dip in the capesize and supramax segments.The overall index, which factors in rates for capesize, panamax and supramax vessels, rose by 4 points to 2,289.The capesize index fell 49 points, or 2.1%, to 2,301, its lowest level since late-March, 2021.Average daily earnings for capesizes, which transport 150,000-tonne cargoes such as iron ore and coal, decreased by $406 to $19,084.Iron ore futures rose on Wednesday as restocking demand in China propelled spot prices of

The Baltic Exchange's dry bulk sea freight index edged lower on Friday, as a decline in panamax and supramax vessel rates outweighed gains in the capesize segment.The overall index, which factors in rates for capesize, panamax and supramax vessels, fell 7 points to 2,289.The index has risen more than 3% this week, after posting two straight week of losses.The capesize index rose 76 points, or 3.2%, to 2,432.Average daily earnings for capesizes, which transport 150,000-tonne cargoes such as iron ore and coal, rose by $632 to $20,167.Dalian iron ore rose on Friday, and advanced nearly 6% this we

The Baltic Exchange's dry bulk sea freight index extended gains for a ninth straight session on Tuesday, tracking firm rates across all its vessel segments.The overall index, which factors in rates for capesize, panamax and supramax vessels, advanced 117 points, or 3.6%, to 3,352, touching its highest level since Nov. 1.The capesize index rose 284 points, or 6%, to 4,983, its highest since Oct. 26.Average daily earnings for capesizes, which transport 150,000-tonne cargoes such as iron ore and coal…

Ailing Danish shipowner Nordic Shipholding is one step closer to closing its doors after announcing the sale of its final three tankers. The company revealed on Thursday that it has entered into a sale and purchase memorandum of agreement to sell the Nordic Anne, Nordic Amy and Nordic Agnetha for a total of $37.1 million. It did not disclose the name of the buyer.The loss-making company has been winding down its operations over recent months after failing to find a merger partner.

The Baltic Exchange's dry bulk sea freight index fell to its lowest level in a month, as rates declined across all its vessel segments, with capesizes touching their lowest in six months.The overall index, which factors in rates for capesize, panamax and supramax vessels, dropped 167 points, or 6.3%, to 2,498, its lowest since Nov.