Bernadette Baum News

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.

Britain's Trident nuclear-deterrent system misfired during a test last month, sending a missile crashing into the ocean off the Florida coast near the submarine that launched it, The Sun newspaper reported on Wednesday.The Ministry of Defense confirmed that an "anomaly" had occurred during the test but said Britain's "nuclear deterrent remains safe, secure and effective".With Defense Secretary Grant Shapps on board the HMS Vanguard to witness the test, The Sun said, the first…

Disruption to shipping in the Red Sea region will impact QatarEnergy's deliveries of liquefied natural gas (LNG) but not its production, CEO Saad al-Kaabi said on Monday."It's only going to take longer to get it there. But it will not reach a point where we have to stop production because there isn't any ship.

A disgruntled former employee shot dead the head of a Greek shipping company and two others before killing himself at the firm's office in Athens on Monday, a police spokeswoman said.Police, fire engines and ambulances were stationed outside the offices of European Navigation in a southern suburb of the capital. Earlier, anti-terrorism forces entered the building, Reuters reporters at the scene said.Among the dead was European Navigation's owner, said police spokeswoman Konstantina Dimoglidou…

Weeks of attacks by Iranian-backed Houthi militants on vessels in the Red Sea have disrupted shipping in the Suez Canal, the fastest sea route between Asia and Europe, carrying around 15% of global sea trade.For the European economy, already skirting a mild recession as it tries to shake off high inflation, prolonged trade disruption could derail plans by central banks to start cutting interest rates this year.Here are some factors policymakers are considering as they assess the implications of the disruptions.WHAT HAS BEEN THE IMPACT ON THE EUROPEAN ECONOMY SO FAR?In macroeconomic terms…

Greece said on Thursday it would send a naval frigate to the Red Sea to protect shipping after attacks by Yemen's Iran-backed Houthi group.On Wednesday, the Greek Shipping Ministry advised commercial ships sailing in the Red Sea and the Gulf of Aden to avoid Yemeni waters.

The Pentagon said it was aware of reports regarding attacks on an American warship and commercial vessels in the Red Sea on Sunday, as Yemen's Houthi group claimed drone and missile attacks on two Israeli vessels in the area."We're aware of reports regarding attacks on the USS Carney and commercial vessels in the Red Sea and will provide information as it becomes available," the Pentagon said.Yemen's Houthi movement said its navy had attacked two Israeli ships, Unity Explorer and Number 9…

A new floating reception terminal for liquefied natural gas (LNG) off the German Baltic Coast should be operational from the first quarter of 2024, gas pipeline operator Gascade, which is building its onshore connection, said on Wednesday.Located off Mukran on the Baltic Sea island of Ruegen, the terminal will host two floating storage and reception units (FSRUs) for LNG deliveries into the German mainland and for exports to eastern European neighbours, as the region ends reliance on Russian pipeline gas."All things going well…

China again asked the Philippines to tow away a grounded warship - a World War Two-era vessel now used as a military outpost - from a disputed shoal on Tuesday, after Manila rejected Beijing's earlier demand.Tensions have soared between the two neighbours over the South China Sea under Philippine President Ferdinand Marcos Jr, with Manila pivoting back to the United States, which supports the Southeast Asian nation in its maritime disputes with China.China's embassy in Manila…

A burned-out car carrier off the Dutch coast is being towed to port for salvage, Dutch authorities said on Thursday.The Fremantle Highway, which was travelling from Germany to Egypt when the blaze broke out on July 26, will be towed from its current location north of the islands Ameland and Schiermonnikoog to nearby harbour Eemshaven, the Dutch public works and water management ministry said in a statement."Most of the ship has now been inspected and there are no indications that there is still fire on board," Rijkswaterstaat said, adding that the situation on board is now stable.The fire aboa

Dock workers on Canada's West Coast and their employers said they reached a new labor agreement, averting an immediate strike, as they sought to end a dispute that has disrupted operations at the country's busiest ports.The International Longshore and Warehouse Canada Union (ILWU) and the British Columbia Maritime Employers Association (BCMEA) are recommending the ratification of the deal, they said in a joint statement late on Sunday.

Russia's Federal Security Service (FSB) said on Monday that it had found traces of explosives on a ship travelling from Turkey to the port of Rostov-on-Don in Russia to pick up grain.The FSB said the ship had been docked in the Ukrainian port of Kiliia in May, and that it may have been used to deliver explosives to Ukraine.It said the ship had changed its name while in the Turkish port of Tuzla earlier this month and replaced its crew, which had consisted of 12 Ukrainian nationals."These…

The world's largest aircraft carrier, the USS Gerald R. Ford, sailed into Oslo on Wednesday, a first for such a U.S. ship, in a show of NATO force at a time of heightened tension between NATO and Russia over the war in Ukraine.The ship and its crew will be conducting training exercises with the Norwegian armed forces along the country's coast in the coming days, the Norwegian military said."This visit is an important signal of the close bilateral relationship between the U.S.

Seven bodies were recovered from a Chinese fishing vessel that capsized in the central Indian Ocean, according to state media on Monday, days after China President Xi Jinping ordered an all-out search to rescue and recover missing crew members.Several countries, including Australia, India, Sri Lanka, Indonesia, the Maldives, and the Philippines, joined in rescue efforts for 39 missing crew members after the Chinese distant-water fishing vessel "Lupeng Yuanyu 028" capsized early last Tuesday…

Iran seized a Marshall Islands-flagged oil tanker in the Gulf of Oman in international waters on Thursday, the U.S. Navy said, the latest in a series of seizures or attacks on commercial vessels in sensitive Gulf waters since 2019.Iran's army said it had seized a Marshall Islands-flagged oil tanker in the Gulf of Oman after it collided with an Iranian boat, injuring several crewmen, Iranian state media reported."Two members of the boat's crew are missing and several were injured due to the collision of the ship with the boat," an army statement said.The U.S.

Singapore's first ship-to-ship transfer for ammonia could take place by end-2023, the Global Centre for Maritime Decarbonisation (GCMD) said on Thursday, as the city-state prepared to introduce new fuels for ships.Ammonia is one of several fuels that the shipping industry is exploring to reduce carbon emissions and meet targets set by the International Maritime Organisation."We are aiming for the first transfer of ammonia to take place by end 2023, subject to obtaining the green light from the relevant regulatory agencies," said Lynn Loo, chief executive of GCMD.

China will ban vessels from an area near Taiwan on Sunday because of the possibility of falling rocket debris, its maritime safety agency said on Thursday, as Japan sought details from Beijing on a reported no-fly zone in the same location. China has not commented on the no-fly zone, but South Korea, which was also briefed on the plans, said it was due to a falling object related to a launch vehicle. The disruption comes during tension in the region over Chinese military exercises around Taiwan…

Italy has arrested three people who they believe trafficked up to 200 migrants aboard a wooden boat that smashed apart on rocks off southern Italy on Sunday, killing at least 64 people, police said on Tuesday. Lieutenant Colonel Alberto Lippolis said a Turkish man and two Pakistani nationals had sailed the boat from Turkey to Italy despite the terrible weather, and were identified by survivors as "the main culprits of the tragedy"."According to initial investigations, they allegedly asked the migrants for about 8…

Ukraine has sent an appeal to the UN and Turkey to start negotiations on extending a grain export deal, but so far there has been no response, a Ukrainian government source said on Tuesday.Yuriy Vaskov, Ukraine's deputy minister of restoration, told Reuters last week that Kyiv would ask all sides to start talks to roll over the deal, seeking an extension of at least one year that would include the ports of Mykolaiv.The Black Sea Grain Initiative brokered by the UN and Turkey last July allowed grain to be exported from three Ukrainian ports.

Rescuers recovered four more bodies on Monday, a day after a wooden sailboat carrying migrants to Europe smashed onto rocks in stormy weather off southern Italy, bringing the death toll to 63, including at least 14 children.Rescuers said most of the migrants came from Afghanistan, as well as from Iran, Somalia, Syria and elsewhere. Pakistan's foreign ministry said 20 Pakistani citizens were on the boat, with four missing and 16 survivors of the nighttime shipwreck.Many of the victims washed ashore close to where the vessel sank near Steccato di Cutro…

Pakistan's navy said on Wednesday it will host 50 countries for regular maritime exercises that are held every two years involving ships, aircraft and special operation forces from Feb. 10-14.At a news briefing, Commander of the Pakistan Fleet, Vice Admiral Ovais Ahmed Bilgrami commented on the importance of the exercises in light of piracy, terrorism, narcotics and arms trafficking, and climate change.(Reuters - Reporting by Akhtar Soomro, writing by Ariba Shahid, editing by Andrew Heavens and Bernadette Baum)

Freeport LNG, the second-biggest U.S. liquefied natural gas (LNG) exporter, got approval from federal regulators on Thursday to take early steps to restart its fire-idled LNG export plant in Texas.Freeport, however, has not yet sought permission to restart the liquefaction trains that turn natural gas into LNG for export. That resumption of LNG production will have to come in a later request with federal regulators.Energy analysts have said they still expect most of the plant's…

Two people died and nine were missing after a cargo ship sank off southwestern Japan early on Wednesday amid fierce winter winds, the coast guard said, as it continued to search for survivors.Six people who were rescued remained unconscious, while five had revived as of 8:30 p.m. local time (1130 GMT), the Japan Coast Guard said, partly citing information from its South Korean counterpart.The 6,651-tonne Hong Kong-registered Jintian - which had 22 crew on board who were Chinese or Myanmar nationals according to media reports - issued a distress call late on Tuesday…