Julia News

The biggest operational crane on the U.S. Eastern Seaboard towered over Baltimore's port on Friday, ready to begin clearing the wreckage of the Francis Scott Key Bridge days after a cargo ship crashed into it, sending the span crashing into the harbor.Crews were still surveying the damage as of midday Friday. The crane, which can lift up to 1,000 tons, arrived late Thursday night and will probably start hauling debris out of the water on Saturday morning, according to U.S. Coast Guard spokesperson Carmen Carver.A second crane is en route and expected to arrive soon to assist the effort…

The European Commission will not add any new import bans in its next package of sanctions on Russia, EU diplomats said, as a 13th package proposal takes its final shape.The Commission and European Union member states want to quickly pass a new set of measures to mark the second anniversary of Russia’s invasion of Ukraine on Feb. 24.Despite calls from some EU countries to ban more Russian exports like aluminium, the Commission will propose a package it hopes will cause minimal…

U.S. penalties on shippers transporting Russian oil in breach of the G7's price cap could push more Russian cargoes onto vessels referred to as the ghost fleet and away from mainstream tankers, shipping sources and analysts told Reuters.The cap bans Western companies from providing maritime services for Russian seaborne oil exports sold above $60 a barrel.It was designed to keep oil flowing to markets while reducing Russia's energy earnings that it can use to finance its war on Ukraine…

Israel's port of Ashkelon and its oil terminal have been shut in the wake of the conflict between Israel and Islamist group Hamas, shipping and trade sources said on Monday.The port is located just over 10 kilometers (sox miles) from the border with the Gaza Strip.

The European Commission said on Friday that it would not extend a ban on imports of Ukrainian grains into Ukraine's five EU neighbors due to expire on Friday."It has concluded that thanks to the work of the Coordination Platform and to the temporary measures introduced on 2 May 2023, the market distortions in the 5 Member States bordering Ukraine have disappeared," the European Commission said in a statement.Restrictions imposed by the European Union in May allowed Poland, Bulgaria…

A tanker containing liquefied natural gas (LNG) that originated from a Russia supplier and was loaded onto a Gunvor Group-chartered vessel off the coast of France was turned away this week by Argentine energy firm Enarsa, according to officials.The tanker Flex Artemis was in the South Atlantic and heading northeast on Thursday, according to Refinitiv vessel tracking. It had carried LNG from Yamal in Russia, according to a trader familiar with the matter, and had arrived in Argentine waters about July 14.The rejection is one more sign of the energy market upheavals since Russia’s invasion of Ukraine last year and of a growing wariness of buyers involving even authorized deals with Russia-originated fuels.

To mark the start of Maritime Safety Week in the UK starting July 3, The Seafarers’ Charity has funded five episodes of a new maritime safety podcast “Sea Views” in collaboration with The CHIRP Charitable Trust.The podcast is hosted by Julia Gosling, who brings her extensive 20-year experience in maritime safety and search and rescue. She is joined by co-host Adam Parnell, Director of the CHIRP Maritime Programme.“CHIRP's mission is to share insights, raise awareness, and save more lives at sea.

Judges at the International Court of Justice (ICJ) on Thursday ruled they had jurisdiction over a long-running border dispute between Guyana and Venezuela, which could determine which country has rights to territory rich in oil and gas.Guyana in 2018 asked the ICJ, also known as the World Court, to confirm that the border was laid down in an 1899 arbitration between Venezuela and the then-colony of British Guiana. Venezuela, while boycotting much of the procedure, tried to stop the case from moving forward by arguing the United Kingdom should be involved as Guyana was a British colony in 1899…

BP Azerbaijan has declared force majeure on loadings of Azeri crude from the Turkish port of Ceyhan, after a series of earthquakes on Monday, the company said on Wednesday.The notice was issued to oil shippers following a temporary suspension of loading operations from the Ceyhan Marine Terminal (CMT), BP Azerbaijan spokeswoman Tamam Bayatly told Reuters by email.BP Azerbaijan operates the Azerbaijan and Georgia sections of the Baku-Tblisi-Ceyhan (BTC) pipeline.BP did not immediately respond to a request for comment.Azerbaijan uses the Turkish port of Ceyhan as its main crude export hub…

Top U.S. gas exporter, Freeport LNG, is expected to further extend the seven-month-long outage of its liquefied natural gas (LNG) export plant in Texas to February, as it awaits regulatory approvals, three sources told Reuters on Wednesday.Accounting for 20% of U.S. LNG exports, resumption of the facility is important to ease the squeeze of global LNG supplies, especially as Europe is rebuilding its gas storage after Russia cut gas exports following Moscow's invasion of Ukraine."There has been no official messaging…

The market for old oil tankers is booming, and it's all down to efforts by Western nations to curb trade in Russian crude.As Western shipping and maritime services firms steer clear of Russian oil to avoid falling foul of sanctions or harming their reputations, new companies have leapt into the void, and they're snapping up old tankers that might normally be scrapped.The European Union banned all seaborne Russian crude imports from Dec. 5, with a fuel import ban to follow in February.

Russia's oil tanker fleet is too small to fully circumvent a plan by the European Union, G7 countries and Australia to enforce a price cap on its maritime crude exports starting on Dec. 5, analysts and market watchers say.The amount Russia would be unable to export is expected to increase when EU sanctions on Russian refined product shipments take effect on Feb. 5.In all the shortfall could mean Russia halts exports of around 1 million barrels per day (bpd), compared with current flows to the world market of around 3.5 million bpd.

Several ships carrying liquefied natural gas (LNG) anchored off Spain's Bay of Cadiz are likely to stay there until late November in anticipation of a rise in European gas prices, industry sources said.Dozens of ships have been circling off the Iberian coast and in the Mediterranean sea for weeks, unable to secure slots to unload their LNG cargoes as plants that convert the superchilled fuel back to gas are operating at maximum capacity.The high volume of LNG in floating storage exposes Europe's lack of "regasification" capacity just as the continent stocks up for a winter of substantially less Russian pipeline gas.But industry sources say some of the waiting ships are part of a trading strategy from their respective companies…

A new bill recently introduced by Congressman John Garamendi (D-CA) and U.S. Senator Patty Murray (D-WA) aims to increase federal funding for public ferry services in the United States.The “Ferry Service Expansion Act” would boost funding for both the Federal Highway Administration’s formula and the Federal Transit Administration’s competitive grant programs to the levels requested by the Public Ferry Coalition, building upon New Federal Investment in Ferry Service under Bipartisan Infrastructure Law.Specifically…

Equatorial Guinea has detained an oil tanker capable of carrying 2 million barrels after it attempted to load in Nigeria without proper paperwork, both countries said this week.The Nigerian navy said in a statement that the Heroic Idun, a very large crude carrier (VLCC), was attempting to load oil at the Akpo SBM on Aug. 8 without due clearance from state oil company NNPC, and that it "resisted arrest" when ordered to stop.It was not immediately clear who was the vessel's owner or operator.

A second shipment of crude from a U.S. Gulf of Mexico offshore field has sailed for Germany, according to vessel tracking data and trade sources on Tuesday, as European refiners test potential replacements for Russian oil.Europe is aiming to cut 90% of its Russian oil imports by the end of this year. Refiners are expected to look to Norway, the Middle East, the United States and West Africa for alternative supplies, according to analysts.The hunt for substitutes has led in two recent instances to Mars, a U.S. sour grade similar to Russia's Urals.The Ise Princess tanker loaded Mars Sour crude off the Louisiana coast and is on its way to the Baltic Sea port of Rostock…

Major energy traders are taking hundreds of millions of dollars in losses as they scramble to plug a liquefied natural gas (LNG) supply gap after several outages hampered efforts to fill European storage ahead of the winter heating season.Unplanned disruptions at LNG plants in the United States, Nigeria and Australia have wrong-footed traders, including BP and Shell, forcing them to pay inflated costs for alternative supplies.In a market already struggling to meet global demand for natural gas after Russia sharply reduced pipeline supplies into Europe, the lost LNG cargoes which can be transported by ship, have pushed global prices sharply…

A tanker of U.S. sour crude was delivered at Germany's port of Rostock last week for the first time ever, according to sources, analysts and vessel tracking data, as local refiners test alternatives to Russian oil.The European Union plans an almost-complete embargo of Russian barrels by year-end, and is trying to wean itself off Russian crude imports, which have fed inland refineries in Germany, Poland and other central European nations via pipeline.Refiners plan to replace Russian oil with seaborne Norwegian, Saudi Arabian, British and U.S. crude grades. Russia has already shown through its natural gas exports that it is willing to cut off European destinations in a tit-for-tat over the EU's financial sanctions that followed Moscow's invasion of Ukraine in February.

HII’s Newport News Shipbuilding division announced several promotions “designed to optimize its shipyard operations and accelerate execution”.“We have been on an aggressive journey to transform the way we run our business. Accomplishing this transformation while running our complex business is not a simple task,” said Jennifer Boykin, president of Newport News Shipbuilding. “Our Navy customer expects us to deliver ships on time and on budget so they can meet the evolving demands of the global security environment.

Global energy trader Gunvor Group reported a net profit of $726 million for 2021, the highest since 2015, buoyed by its natural gas and liquefied natural gas (LNG) divisions, the company said on Tuesday.The profit was the highest since 2015 when net profit was boosted by the sale of most of its Russian assets and was up on the $320 million the Geneva-based company made in 2020 when refining impairments took the shine off its record gross profit.Gunvor's rivals have seen record profits on higher oil volatility and skyrocketing natural gas prices in the second half of 2021.

National Transportation Safety Board Chair Jennifer Homendy on Friday praised the House of Representatives for passing a Coast Guard reauthorization bill that includes policies to improve the safety of amphibious vessels known as DUKW boats and holds the Coast Guard accountable to NTSB safety recommendations.DUKW boats, also known as duck boats, were designed and built in the 1940s for military use during World War II; some were later converted for commercial service. They are unique vessels with special challenges that must be addressed to ensure passenger safety.

Global energy trader Vitol Group made a record net profit of just over $4 billion last year, sources familiar with the matter said, as oil, natural gas and other commodity prices soared.Vitol, the world's biggest independent oil trader, declined to comment.The unaudited result beats its previous record net profit in 2020, when oil markets were upended by the COVID-19 pandemic. Bloomberg reported Vitol made $3.2 billion in 2020. The company does not disclose its net profit.Last week, Vitol said revenues leapt to $279 billion in 2021 as oil prices recovered from 2020 lows.

Buyers of Russian oil have faced difficulties over payments and availability of vessels after imposition of Western sanctions against Moscow over Ukraine, traders said on Monday, while BP Plc has canceled fuel oil loadings from a Black Sea port.The West has introduced sweeping sanctions, including on the banking sector, after Russia's invasion of Ukraine. Russia calls its action a "special operation" to disarm Ukraine.The United States and its allies on Saturday moved to block certain Russian banks' access to the SWIFT international payment system that helps international trade flow smoothly.