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Trump Troubled About Oil Flow into North Korea
U.S. President Donald Trump on Thursday said he was "very disappointed that China is allowing oil to go into North Korea" and that such moves would prevent "a friendly solution" to the crisis over Pyongyang's nuclear program. "Caught RED HANDED - very disappointed that China is allowing oil to go into North Korea. There will never be a friendly solution to the North Korea problem if this continues to happen!" Trump wrote in a post on Twitter. China earlier on Thursday said there had been no U.N.
UN: Fresh Oil Import Sanctions on North Korea
(Reuters) -- The U.N. Security Council on Friday unanimously imposed new sanctions on North Korea following its latest intercontinental ballistic missile test, a move that analysts said could have a significant impact on the isolated country's struggling economy. The resolution seeks to ban nearly 90 percent of refined petroleum product exports to North Korea by capping them at 500,000 barrels a year and demands the repatriation of North Koreans working abroad within 12 months.
GoM Stakeholders Energized Despite Lingering Oil Bust
Gulf of Mexico vessel builders – and their customers – adapt to a lean offshore market. After oil prices plunged in late 2014 – pressured by shale output – demand for offshore vessels in the Gulf of Mexico shrank, day rates for boats fell and non-working units were idled. This year, several GoM boat builders filed for Chapter 11, or voluntary bankruptcy, while others consolidated. The most diversified companies kept their heads above water. Today, the outlook's a bit brighter.
Oil Rallies on Chinese Import Boost and Mideast Tensions
Oil prices firmed on Friday as bullish news from strong Chinese oil imports to turmoil in the Middle East put Brent on track for a nearly 3 percent weekly gain. The developments added to other signs that the market was finally rebalancing after years of excess, but analysts warned that the 2018 balance was still shaky. Brent was at $57.20 at 1335 GMT, up 95 cents. U.S. West Texas Intermediate (WTI) crude was at $51.44 per barrel, up 84 cents from its last settlement.
Growing the KVH Empire
From humble beginnings KVH has evolved rapidly to become a central player in the maritime world’s global Big Data revolution. Maritime Reporter & Engineering News caught up with Martin Kits van Heyningen in Oslo for his take on KVH’s current position and future direction. “We certainly didn’t envision that we would be in the high-speed satellite broadband business when we started,” is how Kits van Heyningen…
Qatar Shipper Milaha Starts Turkey Service amid Crisis
Qatar Navigation (Milaha), the Doha-based maritime and logistics group, has launched a direct shipping service between Qatar and Turkey amid a regional diplomatic crisis that has cut Doha cut off from three of its closest neighbours. Saudi Arabia, the United Arab Emirates (UAE), Bahrain, along with Egypt, cut diplomatic and trade ties with Qatar in June over its alleged support for terrorism and Iran - charges Doha denies.
Battered by Waves, British Coastguard Completes Daring Sea Rescue
A British rescue worker was battered by waves but still completed a daring sea rescue after three people got into difficulty on the west coast of England, a video…
Matson to Start U.S. Flag Marshall Islands Route
Matson has announced that it will introduce a new direct U.S. flag service between Honolulu and the Republic of the Marshall Islands ("RMI") that will shorten cargo transit times to the RMI from the U.S. mainland by as many as eight days. The new biweekly service will call at three ports in the RMI — Kwajalein, Ebeye and Majuro — starting in the first quarter of 2018. Matson has entered into an agreement to purchase a 707-TEU…
BWMC Amendments Good for Shipping, Environment - Liberia
The Liberian Maritime Administration has welcomed an agreement reached by the IMO Marine Environment Protection Committee (MEPC) on an implementation schedule for the Ballast Water Management Convention (BWMC) which broadly incorporates the terms of an amendment initially proposed by Liberia. It was decided at the 71st session of the MEPC (MEPC 71) in London that ships built after September 8, 2017 should have a ballast water management system (BWMS) installed upon delivery.
Trump to Promote US Natgas Exports in Russia's Backyard
President Donald Trump will use fast-growing supplies of U.S. natural gas as a political tool when he meets in Warsaw on Thursday with leaders of a dozen countries that are captive to Russia for their energy needs. In recent years, Moscow has cut off gas shipments during pricing disputes with neighboring countries in winter months. Exports from the United States would help reduce their dependence on Russia.
OPEC Set to Prolong Oil Cuts
OPEC will likely agree to extend production cuts for another nine months, delegates said on Tuesday as the oil producer group meets this week to debate how to tackle a global glut of crude. OPEC's de facto leader, Saudi Arabia, favours extending the output curbs by nine months rather than the initially planned six months, as it seeks to speed up market rebalancing and prevent oil prices from sliding back below $50 per barrel.
[Op/Ed] WRDA: Dredging up Progress
Digging out the small ports and harbors that serve as the on-ramps to the maritime super highway is important work. We support the WRDA language that makes our water commerce system work productively. The Presidentially-appointed Mississippi River Commission in its public meetings alongside the members of Big River Coalition and the MVFCA has heard from interests, discussed and supported this approach for more than five years.
As Operators Look for the Bottom, Gulf Gloom Persists
Gulf of Mexico vessel operators want to see sustained, higher oil prices. After a rough two years, supply boat owners and operators in the Gulf of Mexico hope crude oil prices will improve in 2017. That would encourage activity among the offshore drillers that they service and would put unemployed boats back in the water. Vessel owners aren’t necessarily banking on a good year ahead, however. “Utilization of OSVs and PSVs in the Gulf is below 50 percent now…
Navy Ships out New Zealand Quake Survivors
Hundreds of survivors stranded by a huge earthquake that struck central New Zealand three days ago reached Christchurch by a naval ship early on Thursday, as engineers in the capital Wellington assessed the state of dozens of damaged buildings. Around 450 tourists and residents from the small seaside town of Kaikoura were taken by the New Zealand navy's multi-role vessel HMNZS Canterbury to Christchurch, the South Island's largest city, overnight.
APL Expands Asia-Middle East Service Network
APL today announced the launch of a new Red Sea Express 2 (RE2) Service. Directly linking China to the Red Sea ports of Jeddah, Sokhna and Aqaba, the new RE2 Service…
APL Expands Intra-Asia Service Network with New Services
APL is expanding its Intra-Asia service network with the launch of a new Japan Taiwan 6 (JT6) Service and an upgraded Japan Thailand 2 (JT2) Service. The new JT6 Service links the markets of Japan…
Hurricane Matthew Death Toll nears 900 in Haiti, Cholera takes lives
Hurricane Matthew's trail of destruction in Haiti stunned those emerging from the aftermath on Friday, with the number of dead soaring to 877, tens of thousands…
Growing Up Metric
The story of World Wide Metric’s steady growth and promising future. Words are powerful, and “Growing up Metric,” the title of the recently released book by George Contos, the energetic CEO and second-generation ‘Contos’ leader of World Wide Metric, is a fitting title. Contos recently sat with Maritime Reporter & Engineering News in his Branchburg, N.J. headquarters to discuss how his company has grown from roughly $3 million per year when he took over in 2000…
At least 478 Dead in Haiti from Matthew
The number of people killed by Hurricane Matthew in Haiti rose to at least 478 people on Friday, as information trickled in from remote areas previously cut off by the storm, officials said.
CargoSmart Partners with Ningbo E-port for SOLAS VGM
The Port of Ningbo has integrated CargoSmart’s software for shippers and forwarders to meet new container weight requirements with its electronic platform for exchanging…