Europe News

09 Apr 2020

European Refiners Leave Oil Cargoes On Water

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A growing number of oil tankers across Europe have been unable to unload their cargo over the past month as refining demand crashes, turning them into de facto floating storage, according to shipping data and trading sources.European refineries have had to cut runs after measures put in place to contain the coronavirus outbreak crushed fuel demand.More than 25 tankers with roughly 18 million barrels onboard were anchored near European ports, with most them already there for over a week as of Thursday…

09 Apr 2020

​​​​March Cargo Imports Tumble at Top US Seaports

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March imports dropped 26% at the Port of Los Angeles and 5% at the adjacent Port of Long Beach - the busiest U.S. sea trade gateways - as the novel coronavirus wrecked havoc on commerce around the globe.Imports at major U.S.

08 Apr 2020

Stena Line To Close Trelleborg-Sassnitz Route

Photo: Stena Line

Stena Line will permanently suspend operations on its ferry route between Trelleborg, Sweden and Sassnitz, Germany due to the coronavirus pandemic, the European operator announced on Wednesday.The cancellation comes after Stena Line announced in March it would temporarily suspend operations on the route.Stena Line has initiated discussions with the workers' council Betriebsrat in Germany. The ferry FS Sassnitz is laid up in Port of Mukran, Sassnitz, until further notice. In recent years…

08 Apr 2020

Italy Closes Ports to Migrant Ships Due to Coronavirus

(Photo: Sea-Eye)

Italian ports cannot be considered safe because of the coronavirus epidemic and will not let migrant boats operated by charities dock, the government has ruled.The decision was taken late on Tuesday after a ship operated by the German non-governmental group Sea-Eye picked up some 150 people off Libya and headed towards Italy."For the entire duration of the national health emergency caused by the spread of the COVID-19 virus, Italian ports cannot guarantee the requisites needed to be classified and defined as a place of safety…

07 Apr 2020

As Oil Crisis Deepens, Hedge Funds Sense a Turnaround

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Hedge fund managers sensed oil prices were nearing a turning point last week, and for the first time in more than two months started to add long positions in anticipation prices would bounce from an unsustainable low.Overall, hedge funds and other money managers were still net sellers of 19 million barrels of petroleum in the six most important futures and options contracts in the week ending on March 31.But they initiated 40 million barrels of new purchases as well as 59 million barrels of fresh sales, according to position records published by ICE Futures Europe and the U.S.

06 Apr 2020

Stena Line Announces More Job Cuts Due to COVID-19

(Photo: Stena Line)

Swedish ferry company Stena Line said Monday it will furlough 600 employees and make 150 redundant in UK and Ireland due to the COVID-19 pandemic's damaging effect on travel and transport across Europe.The announcement comes several weeks after the company laid off hundreds in Scandinavia and the Baltics as the coronavirus crisis weighs heavily on travel bookings and freight volumes. Already the company has reduced its number of sailings on several routes, and several vessels…

06 Apr 2020

Diego Aponte: MSC CEO Offers Insight on COVID-19 Impact

Photo: MSC

In an open letter posted on the MSC website, MSC Group President & CEO Diego Aponte offered public comment and perspective on the COVID-19 situation for MSC's cargo business. “The spread of COVID-19 has created a public health issue unprecedented in our lifetimes, triggering an unexpected shock for societies and economies,” said Aponte.Calling the industry “as an essential cog for global trade” Aponte’s recognizes his company’s role in helping to keep products moving while taking…

03 Apr 2020

Viking Launches Mississippi River Cruises

(Image: Viking)

Viking announced it will launch a Mississippi River cruise line with its first vessel, Viking Mississippi, scheduled to sail voyages on the Lower and Upper Mississippi, between New Orleans and St. Paul from August 2022.Purpose-built for the Mississippi and is currently under construction in Louisiana, the five-deck ship will accommodate 386 passengers in 193 all outside staterooms.“At a time where many of us are at home, looking for inspiration to travel in the future, I am pleased to introduce a new, modern way to explore this great river.

02 Apr 2020

Hepburn and Sons Adds Senior Naval Talent

David Rice (Photo: Hepburn and Sons)

The Hepburn and Sons LLC team welcomed David Rice, CAPT David Bauer, USN (Ret), and Gary Loberg as their newest members. David Rice serves as Senior Consultant, Material Science. David Bauer will serve as the Senior Manager, Material Science. Gary Loberg serves as Senior Manager, Advisory Services.David Rice comes to Hepburn and Sons, LLC after a career spanning 45 years at Newport News Shipbuilding (NNS). During his time at NNS he served as the Manager of Contracted Research & Development and was responsible for Research & Development Programs funded by ONR/ManTech…

01 Apr 2020

Remote Surveys Becoming Business as Usual

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Remote vessel and equipment surveys have been available in the maritime world for years, but classification societies are seeing increased demand for these services as more firms turn to digital solutions to continue business during the coronavirus outbreak.Using real-time video communication tools, and even drones and robotics when applicable, surveyors are able to work with stakeholders to perform inspections without having to be on site, which is especially beneficial amid current COVID-19 travel restrictions.ABS…

01 Apr 2020

Egypt's Suez Canal Shipping Unaffected by Coronavirus

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Traffic in Egypt's Suez Canal has so far been unaffected by the spread of the coronavirus, the chief of its authority said on Wednesday, citing a 4.6% increase year-on-year in the number of ships passing through.The canal is the fastest shipping route between Europe and Asia and one of the Egyptian government's main sources of foreign currency.The container shipping industry, a bellwether for international trade, has been blown off course by the new virus, which brought parts of China to a standstill before spreading around the world…

01 Apr 2020

China's Ports Brace for Second Hit as Virus Spread Wipes Out Exports

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China's ports and shipping firms are bracing for a second wave of supply chain disruptions that may be deeper and more prolonged than during the country's coronavirus lockdown as the global spread of the virus chokes off international demand.With Beijing reporting only sporadic domestic transmission of the coronavirus since March, workers have been allowed to return to posts, factories are restarting and ports are rushing to clear a backlog of cargoes.But with virus outbreaks now overwhelming healthcare systems and shutting logistics channels in other major economies…

31 Mar 2020

Contracted Rates to Fall Long-term Due to Conoravirus -Xeneta

Patrik Berglund (Photo: Xeneta)

The container shipping segment appears to have caught coronavirus, with the industry suffering its first monthly fall in long-term contracted ocean freight rates since October 2019. According to the latest XSI Public Indices report from Xeneta, March 2020 saw a small dip of 0.5% in rates after a sustained period of growth. Although these symptoms look mild, the future is characterized by growing uncertainty, with widespread economic disruption and looming global recession likely…

31 Mar 2020

Carnival Brands Pause Cruises for Another Month

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Four of Carnival Corp’s cruise lines said on Monday they would extend the suspension of all voyages by a month to May due to the coronavirus crisis that has worsened over the past few weeks.The brands - Holland America Line, Carnival and luxury cruise ship operators Seabourn and Cunard - together operate 49 ships.Carnival Corp, also the operator of two coronavirus-stricken Princess cruises, has already temporarily suspended several of its ships due to concerns over the rapidly spreading COVID-19 crisis earlier this month.“The impact of COVID-19 is affecting personal routines and businesses as

30 Mar 2020

Yamal LNG Resumes Loading Operations in Norway

(File photo: Novatek)

Yamal LNG, controlled by Russia's largest liquefied natural gas (LNG) producer Novatek, is resuming ship-to-ship transfers in Norway, Novatek said on Monday, after plans to shift the operations to Russia fell through due to coronavirus.Novatek suspended transfers in Norway in June last year due to what it termed "pressure from the West".According to Refinitiv Eikon data, the Arc7 tanker Vladimir Vize is due to arrive at the Norwegian Arctic port of Honningsvag on April 1, carrying a cargo from Yamal LNG.The data also showed that an empty Arc4 tanker…

30 Mar 2020

What Will COVID-19 Mean for US Offshore Wind?

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What will COVID-19 mean for the offshore wind industry? An industry not yet spinning on its own.Epitomized by the roller coaster ride that defined the stock market over the last few weeks, unpredictability has emerged as one of the few certainties of the coronavirus disease 2019 (COVID-19) crisis. Every industry has seen the effects of the pandemic, from hospitality, to travel, and even to the renewable energy sector. Indeed, even though the US offshore wind industry is not yet fully established…

27 Mar 2020

Fully Laden LNG Tankers Sit Idle Off Indian Ports after Force Majeure

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At least five fully-laden liquefied natural gas (LNG) tankers are idling offshore India, as yet unable to discharge their cargoes, after importers there declared force majeure earlier this week, according to an analyst and shipping sources.Gas demand is falling globally amid the fast-spreading coronavirus which has capped industrial output, forcing LNG tankers in several regions to remain at sea fully laden with no immediate destination, the sources said.At least three major buyers in India…

26 Mar 2020

Hempel Makes Executive Changes

Pernille Lind Olsen becomes new Group Vice President for Hempel Europe & Africa starting on 1 July 2020. Photo: Hempel

Current Group Vice President for Hempel South & East Asia, Pernille Lind Olsen, becomes new Group Vice President for Hempel Europe & Africa starting on 1 July 2020. At the same time, current Finance Director for Hempel Middle East Jonathan Mercer will take over Pernille Lind Olsen’s position as Group Vice Presi-dent for Hempel South & East Asia.Olsen has been with Hempel since November 2013. Since then, she has held positions as Group Product Director, Group Product & Portfolio Director and…

26 Mar 2020

P&O Boosts Freight to Keep Goods Flowing in Virus Outbreak

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British ferry and shipping freight company P&O said on Wednesday it will ramp up freight operations to improve the flow of essential goods between Britain and mainland Europe as passenger numbers dwindle during the coronavirus outbreak."P&O Ferries is doing vital work to ensure the supplies of food, medicines and other supplies to millions of people," chief executive officer Janette Bell said in a statement."I urge all governments to back the commitment of our colleagues by designating port workers as key workers, to secure further the flow of goods." (Reporting by Kate Holton and Andy Bruce;

23 Mar 2020

Western Supply Chains Buckle as Coronavirus Lockdowns Spread

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Freight carriers are struggling to deliver goods by land, sea or air as the coronavirus pandemic forces Western governments to impose lockdowns, threatening supplies of vital products including medicines into the most affected areas, such as Italy.While China's draconian steps to stop the spread of the virus are now allowing its economy slowly to come back online, supply chains are backing up in other parts of the world.Problems ranging from finding enough truck drivers to restrictions on seafarers and a lack of air freight are hitting the smooth flow of goods…

25 Mar 2020

Corvus Energy Invests in Canadian Battery Production

Photo: Corvus Energy

Corvus Energy is moving forward with plans to invest in its Canadian operations by expanding its Richmond, B.C. facility and increasing manufacturing capacity.As reported in early 2018, Corvus Energy is rolling out plans for expanded maritime battery manufacturing facilities in both Bergen, Norway and Richmond, B.C., Canada. A new automated battery factory in Bergen began producing energy storage systems (ESS) in Q4 2019. Corvus has signed a contract for investment in new production line equipment in the Richmond, B.C.

26 Mar 2020

Australia Orders Two Cruise Ships to Leave ... Now!

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Australia ordered two cruise ships to leave its waters on Thursday, after a liner that docked in Sydney Harbor last week became the primary source of infection in the country's coronavirus outbreak.Although well below levels elsewhere in the world, the pace of Australia's infections is starting to pick up speed, reaching nearly 2,800 cases and 13 deaths.The government of West Australia state said nobody would be permitted to disembark from the German-operated MV Artania after seven of 800 foreign passengers on board tested positive for the virus…

26 Mar 2020

ABS Expands Remote Survey Options

(Photo: ABS)

Classification society ABS said it is expanding its remote survey options for vessel owners and extending its remote survey and audit services for equipment and materials manufacturers and other service providers. The move comes as more firms turn to digital solutions to continue business amid the coronavirus outbreak.“As organizations rely more heavily on remote and virtual operations, ABS is making it easier for vessel owners and equipment manufacturers to leverage digital applications by offering even more remote surveys and audit options,” said Christopher J.

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