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Thursday, March 28, 2024
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Scf News

20 Mar 2024

Reliance Refusing Sovcomflot Oil Shipments

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India's Reliance Industries, operator of the world's biggest refining complex, will not buy Russian oil loaded on tankers operated by shipping company Sovcomflot (SCF) after recent U.S. sanctions, according to two sources familiar with the matter.The development adds to oil export problems for Russia as its oil firms may face difficulties finding ships to sell surplus oil after recent Ukrainian drone attacks on the state's refineries. Russian companies are already struggling to collect payments for oil exports due to banking restrictions.The U.S.

18 Mar 2024

Port NOLA Bests Container-on-barge Record

(Photo: Port NOLA)

The Port of New Orleans (Port NOLA) said 2023 was a record year for container-on-barge shipping.During the last calendar year, Port NOLA marked 20,500 container moves by barge, the highest since launching the container-on-barge network—the nation's largest—in 2016 with the Port of Greater Baton Rouge and Ingram Marine Group. Container-on-barge moves containers by water rather than by truck on roads to reduce air emissions; moving an average of 30,000 twenty-foot equivalent units (TEU) per year between New Orleans, the Port of Greater Baton Rouge, Memphis and St. Louis.

13 Mar 2024

Second Russian Tanker, Hit by Sanctions, Docks in China

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Russian tanker Krymsk, hit by sanctions, docked on Wednesday at the Chinese port of Dongying in eastern Shandong province, home of independent refiners, to discharge 700,000 barrels of Russian Sokol crude, LSEG and Kpler shipping data showed.This is the second Russian oil tanker, hit by sanctions, to dock at Chinese ports this month. Last week, tanker Liteyny Prospect discharged its 700,000-barrel Sokol crude cargo at the Chinese port of Huanghua near Cangzhou city in Hebei province.The Dongying port authority declined comment when contacted by Reuters.

07 Mar 2024

Tanker Liteyny Prospect, Hit by Sanctions, Docks in China to Offload Russian Oil

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The Russian tanker Liteyny Prospect, hit by sanctions, has docked at the Chinese port of Huanghua to discharge its 700,000-barrel Russian Sokol crude cargo, two sources familiar with the matter said, clearing part of a backlog of cargoes disrupted by sanctions on Moscow's oil trade.The tanker is one of six ships carrying Sokol crude, which India has not been able to import due to payment issues. The six ships had been sailing to China but five of them are floating at sea early this week, shipping data showed, following fresh U.S.

06 Mar 2024

Russia Oil Fleet Shifts Away from Liberia, Marshall Island Flags Amid US Sanctions Crackdown

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Dozens of oil tankers used by Russia have stopped sailing under the Liberian and Marshall Islands flags in recent weeks after the United States ramped up sanctions enforcement on ships linked to those registries, according to shipping data and interviews with industry and government officials.The shift reflects the close relationship between the U.S. and the flag administration companies of Liberia and the Marshall Islands, which are headquartered not in their home countries, but in Virginia, just miles from Washington D.C. and within the jurisdiction of U.S.

04 Feb 2024

Ingram Forms Material Handling and Supply Chain Subsidiary

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Nashville-based Ingram Barge Company announced it has formed a new material handling and supply chain solutions subsidiary, Ingram Infrastructure Group.The move, fueled by the company's acquisitions of Inland River Transport Holdings (SCF) and NexStar Solutions, is intended to enhance Ingram's end-to-end supply chain solutions capabilities.Ingram acquired integrated river transportation and logistics services provider SCF from SEACOR Holdings following the signing of a purchase agreement last October.Ingram currently operates across more than 4,500 miles of the U.S.

25 Oct 2023

SEACOR Sells Its Inland River Business to Ingram

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Fort Lauderdale, Fla. based SEACOR Holdings Inc. announced it has signed a definitive agreement to sell its inland river transportation and logistics business to Ingram Barge Company LLC, a division of Nashville-based Ingram Marine Group.Part of the SEACOR family of businesses for over two decades, Inland River Transport Holdings LLC (SCF) includes more than 1,000 covered dry cargo hopper barges, eight 6,000-plus horsepower towboats and a network of terminal and fleeting infrastructure along the Mississippi River.“I am extremely pleased to enter this transaction with Ingram…

12 Oct 2023

US Sanctions Two Tanker Owners for Carrying Russian Oil Above Price Cap

The U.S. on Thursday imposed the first sanctions on owners of tankers carrying Russian oil above the G7 price cap of $60 a barrel, one based in Turkey and one in the United Arab Emirates, in an effort to close loopholes on the mechanism designed to punish Moscow for the war in Ukraine.The U.S., other G7 countries and Australia imposed the cap last year, seeking to reduce Russia's revenues from seaborne oil exports as part of sanctions for its invasion of Ukraine.The cap bans Western companies from providing maritime services, including insurance, finance and shipping, for Russian seaborne oil exports sold above $60 a barrel, while seeking to keep oil flowing to markets. Caps also were imposed on Russian fuel exports.U.S.

04 Oct 2023

Russia's Sovcomflot Transfers Ships to New Management Firm to Boost Trade

Russia's leading tanker group Sovcomflot has transferred dozens of ships into a new Dubai based management company aiming to boost trade through this entity amid growing pressure from financial restrictions, according to maritime industry data and shipping industry sources.State-owned Sovcomflot (SCF) is subject to sanctions and other restrictions by the UK and the European Union, while Washington has restricted its financial activities. Sovcomflot - whose fleet in the region of 80 vessels including crude, oil products and liquefied natural gas tankers - has had to deal with these capital restrictions over the past year. It has also had to rebase its overseas operations from Cyprus to Dubai.Since July…

21 Aug 2023

Russia Ships Naphtha to China via North Sea Route

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Russia is shipping a naphtha cargo via the North Sea Route (NSR) as Moscow seeks to increase supplies using the route to major trade partner China, cutting its way through European waters, traders said and Refinitiv data showed.SCF Irtysh is loaded with with 37,000 tonnes of naphtha onboard, loaded at Ust-Luga port on August 5, 2023, for delivery to China. It is the first such loading since at least the late 2000s, according to two traders.The supplier of the cargo was Gazprom Neft, the traders said.

28 Jul 2023

CMA CGM Braced for Weaker Profit Before Demand Picks up in 2024

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French shipping group CMA CGM expects container freight demand to improve from next year but the group's profits will continue to ease this year as a slump in freight rates from record highs and a weak economy weigh on results, it said on Friday.The company, privately controlled by the Saade family, reported a second-quarter net profit of $1.3 billion, down from $7.6 billion in the year-earlier period and from $2.0 billion in the first quarter. It expects the first quarter to…

17 Oct 2022

Rosneft Moves Into Tanker Chartering as EU Ban Looms

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Russia's biggest oil exporter Rosneft has expanded its tanker chartering business to ease oil shipments for buyers amid looming Western sanctions on insurance of Russian oil shipments, three sources familiar with the matter said.Previously, state-controlled Rosneft, which produces more than 40% of Russian oil, would sell its oil at the port of loading, meaning the buyer would have to find tankers and handle freight and insurance costs for the voyage.But with new, tighter Western sanctions looming…

31 Oct 2022

MARAD Awards Nearly $39 Million in Marine Highway Grants

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The U.S. Department of Transportation’s Maritime Administration (MARAD) awarded nearly $39 million in grants to 12 marine highway projects across the Nation under the America’s Marine Highway Program (AMHP). The funding will help expand marine highway services on the United States’ navigable waterways to reduce congestion, alleviate supply chain bottlenecks, and move goods more quickly from ships to shelves.“At a time of record demand for goods, it’s more important than ever to…

17 Aug 2022

US Inland Waterway Infrastructure: Riding a Good News Wave

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The inland waterways have enjoyed several positive developments toward modernization of the system, particularly over the last two years.Annual appropriations that fund the U.S. Army Corps of Engineers’ Civil Works mission have been steadily on the rise for the last nine fiscal years, specifically the Construction and Operations & Maintenance (O&M) accounts have been funded at historic levels. The passage of the Infrastructure Investment and Jobs Act (IIJA) in 2021 provided a…

23 Jun 2022

Russian Oil Tankers Get India Safety Cover Via Dubai Company

India is providing safety certification for dozens of ships managed by a subsidiary of top Russian shipping group Sovcomflot, official data showed, enabling oil exports to India and elsewhere after Western certifiers withdrew their services due to global sanctions against Moscow.Certification by the Indian Register of Shipping (IRClass), one of the world's top classification companies, provides a final link in the paperwork chain - after insurance coverage - needed to keep state-owned Sovcomflot's tanker fleet afloat and delivering Russian crude oil to overseas markets.Data compiled from the IRClass website shows that it has certified more than 80 ships managed by SCF Management Services (Dubai) Ltd…

25 May 2022

Continued Investment Strengthens Key US Midwest Ports

(Photo: America’s Central Port)

More than a half a billion dollars in recent, current or expected improvements at three Midwestern ports will strengthen these facilities and reinforce their important roles in the global freight network. The significant investments at Port KC, America’s Central Port, and Kaskaskia Regional Port District, along with new infrastructure funding recently secured, will spur an increase in barge services and deliver cost efficiencies that drive profitability for the industry. Port KC is located on the Missouri River.

29 Apr 2022

Sanctions Tighten Screws on Russia's Sovcomflot as Ship Insurers Cut Cover

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Western ship insurers are terminating cover for Russia's leading shipping company Sovcomflot as multiple sanctions start to bite, companies involved say, adding to the growing challenges for the state-owned company and Moscow's efforts to export oil and gas.Russia's maritime sector is seeing the wind down of multiple services, including ship certification by leading foreign providers - vital for accessing ports and securing insurance - shipping companies pulling out and ship engine…

26 Apr 2022

India's ONGC Struggling to Move Russian Oil

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India's Oil and Natural Gas Corp (ONGC) is struggling to find a vessel to ship 700,000 barrels of crude from Russia's Far East, in a growing sign that complex trades involving one of Moscow's biggest partners are being interrupted by Western sanctions, sources say.Several Indian companies including ONGC have stakes in Russian oil and gas assets, and India has been buying more Russian crude since Moscow invaded Ukraine, snapping up the popular Urals crude grade, while other buyers…

25 Mar 2022

Russia's Top Shipping Firm Sovcomflot In Choppy Waters

(Photo: Sovcomflot)

Russia's top shipping company Sovcomflot (SCF), already struggling to find berths to discharge cargoes, is facing fresh pressure after the UK on Thursday joined countries that have slapped sanctions on it, with implications for insurance and certification.With a modern fleet of ships, state-run SCF is a key transporter of Russian oil and liquefied natural gas but also carried cargoes previously from other countries such as the United States.Since Moscow's invasion of Ukraine on Feb.

14 Mar 2022

Russia Dropped from Ship Certification Body as Sanctions Bite

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The world's top association of ship certifiers has withdrawn membership from the Russia Maritime Register of Shipping (RS) due to the impact of sanctions on Moscow after its invasion of Ukraine, in another blow to the country's vital shipping sector.Classification societies provide services such as checking that ships are seaworthy, and this certification cover is essential for securing insurance and entry into ports.In recent days, Britain's LR and Denmark's DNV, have both announced…

10 Mar 2022

All at Sea: Russian-linked Oil Tanker Seeks a Port

A Russian-operated oil tanker that Britain turned away over a week ago has yet to find a port to discharge its cargo, and many other vessels are likely to be in the same position as buyers shun trade deals following Moscow's invasion of Ukraine.On Tuesday, U.S. President Joe Biden imposed an immediate ban on Russian oil and other energy imports and Britain announced soon after that it would phase out the import of Russian oil and oil products by the end of 2022.The European Union has yet to provide clarity on the prospect of a similar ban by the bloc. The European Commission, the EU executive, has only said it would continue to work on further sanctions.Britain on March 1 banned from its ports all ships that are Russian-owned…

07 Mar 2022

Sovcomflot's Tankers Find Refuge in the Bahamas Amid Growing Sanctions

At least three tankers controlled by Russian maritime powerhouse Sovcomflot that have been unable to deliver their cargoes due to Western sanctions have re-routed to the Bahamas, vessel tracking data showed on Monday.Russian state-owned Sovcomflot was blacklisted by the United States last month over Moscow's invasion of Ukraine. Britain and Canada also banned vessels flagged, operated or owned by Russia from docking at their ports.Sovcomflot oil and refined products tankers SCF Don, SCF Neva and SCF Ussuri since the weekend signaled the Bahamas as their destination, after rerouting from other nations, according to Refinitiv Eikon tracking…

17 Mar 2022

Sovcomflot Tanker Carrying US LNG Arrives in France

A Russian-owned tanker carrying U.S. liquefied natural gas (LNG) arrived on Monday at anchorage outside the French port of Nantes Saint-Nazaire, according to vessel tracking data from Refinitiv.The Sovcomflot vessel SCF La Perouse was carrying LNG from Sempra Energy's Cameron LNG facility in the United States. France has not barred Russian vessels from arriving at its ports.The Elengy terminal in Montoir, where the tanker is scheduled to unload, is operating normally and has not changed its plan to handle the gas, a spokeswoman said. The LNG terminal is owned by energy and services firm Engie.The United States in February blacklisted Sovcomflot vessels over Russia's invasion of Ukraine.