Shell Want Shipper Guarantees on Nigerian Crude Exports
Royal Dutch Shell has asked ship owners exporting its Nigerian oil to sign a "letter of comfort" (LoC) to guarantee it is not stolen, according to an email from the company seen by Reuters.
Traders Eye Floating Diesel Storage in Atlantic
Europe diesel stocks reach fresh record high; huge imports from Asia, Middle East weigh on supplies. Oil traders are preparing to store diesel in giant tankers off…
Asia-N.Europe Box Rates Plunge 17 pct
Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 17.3 percent to $259 per 20-foot container (TEU) in the week ended on Friday, one source with access to data from the Shanghai Containerized Freight Index told Reuters. It was the fourth consecutive week of falling freight rates on the world's busiest route. Rates are now at their lowest since June 19, and widely seen as a loss-making level.
China Opposed to Parties Entering 'territorial' Waters
China's Foreign Ministry said on Friday it was against parties entering territorial waters in the name of freedom of navigation, as the United States is considering…
Teekay Veteran Glendinning to Retire
Long-time Teekay leader David Glendinning, president of Teekay Gas Services, will retire December 17, 2015, after more than 28 years at Teekay. Stepping up to replace Glendinning is Mark Kremin…
French President Inaugurates CMA CGM’s New Mega Ship
The CMA CGM Bougainville, the largest containership sailing under French flag, was inaugurated Tuesday by French President François Hollande in Le Havre. Other key figures present for the inauguration include Jacques R. Saadé, Chairman and Chief Executive Officer of CMA CGM Group; French Minister of Foreign Affairs and International Development Laurent Fabius; French Secretary of State for Transportation Alain Vidalies…
Foss Hires VP, General Counsel & Chief Ethics Officer
Foss Maritime announced that Lam Q. Nguyen-Bull has joined the company as the Vice President, General Counsel and Chief Ethics Officer. Based in Seattle, Nguyen-Bull will lead Foss's Legal and Risk Management Group, where in addition to providing counsel on legal issues and business strategies and practices, she will head up the company's ethics and compliance programs and work to safeguard the values and reputation of Foss.
House Expected to Pass Bill Axing US Oil Export Ban
A bill to repeal the U.S. oil export ban was expected to pass the House of Representatives on Friday, but faces an uncertain future after a veto threat by President Barack Obama. U.S.
Chevron Cylinder Oil Gains NOL from Wärtsilä
Chevron Marine Lubricants’ 100BN cylinder oil, Taro Special HT 100 has received approval for its use in another engine range – products made by Winterthur Gas & Diesel Ltd.
Commodities See Biggest Price Jump in 3 Years
Commodities jumped on Friday, headed for their largest weekly gain in more than three years as base metals roared higher after Glencore pledged to slash zinc output…
US Senators Introduce Bill to Limit Offshore Drilling
A group of U.S. Senators on the West Coast have introduced a bill Wednesday aiming to prohibit offshore drilling on the outer continental shelf of California, Oregon and Washington.
Commodity Surge Boosts World Equities; Dollar Falls
Major world stock markets were poised for their biggest weekly advance since 2011 on Friday, as greater investor appetite for riskier assets propelled gains in equities…
Retailers Well Stocked as Holidays Approach
Import cargo volume at the nation’s major retail container ports is expected to increase 3.3 percent this month over the same time last year as retailers make final preparations for the holiday season, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates. “The holidays are almost here, and retailers are ready,” said NRF Vice President for Supply Chain and Customs Policy Jonathan Gold.
House Passes Bill to Repeal US Oil Export Ban, Veto Looms
The U.S. House of Representatives passed a bill on Friday to overturn the 40-year-old ban on oil exports, but the measure did not get enough support to overturn any veto by President Barack Obama…
AWO Calls on Congress for Vessel Discharges Bill
A federal appeals court ruling handed down this week underscores the urgent need for Congress to pass the Vessel Incidental Discharge Act (VIDA) and establish a…
Creole Spirit Sets Sail for Sea Trials
Teekay’s first M-type, Electronically Controlled, Gas Injection (MEGI)-powered LNG vessel, Creole Spirit, has sailed out from the Daewoo Shipbuilding & Marine Engineering (DSME) shipyard for sea trials. Creole Spirit is Teekay’s first of nine LNG newbuildings equipped with dual fuel two stroke MEGI engines from MAN Diesel & Turbo. The engines were installed shortly after the ship’s keel was laid in March.
US Must Exercise Freedom of Navigation in Asia-Pacific -Navy Commander
The commander of U.S. forces in the Pacific said on Friday the United States must carry out freedom of navigation patrols throughout the Asia Pacific, but declined to say whether it planned go within 12 nautical miles of China's artificial islands in the South China Sea. Asked about reports that the United States planned to challenge 12-nautical mile limits around China's artificial islands, he replied: "I will not confirm that.
Newport News Shipbuilding Converts to Natural Gas
Huntington Ingalls Industries (HII) announced today that its Newport News Shipbuilding division has converted its steam-generation plant from heavy fuel oil, also known as Bunker C, to natural gas to improve safety and lower operating costs and emissions to the environment. The plant generates low-pressure steam to heat many of the shipyard’s facilities, to provide process heat and to support hotel services—including hot water…
Coast Guard Foundation Raises $250,000 for Scholarships
The Coast Guard Foundation, a nonprofit organization committed to the education and welfare of all Coast Guard members and their families, announced today that more…
US Shipowner Creates Fund for Families of Missing El Faro Crew
The owners of the cargo ship El Faro that sank after it was trapped in the path of Hurricane Joaquin off the Bahamas last week announced the creation of a family relief fund on Friday to support the 33 mostly-American families of the crew. "Over the last few days we have had hundreds of employees, mariners, customers and individuals from around the country inquire about where to donate in support of the families…