Reuters News

17 Oct 2019

Malaysia Works to Clear Plastic Waste Shipments at Ports

File image (Marad)

Malaysia is negotiating with countries sending their plastic waste to the Southeast Asian nation to take back the trash and is waiving storage fees to clear hundreds of containers of scrap stranded at ports across the country for months, officials say.Malaysia last year became the world's main destination for plastic waste after China banned imports of scrap.The Southeast Asian country upped scrutiny after huge inflows and stopped many containers that looked to unload scrap in Malaysia without the required permits…

16 Oct 2019

U.S. Frets About Untrackable China Ships with Iran Oil

Stock / © Carabay

The White House is warning Chinese shipping companies against turning off their ships' transponders to hide Iranian oil shipments in violation of U.S. sanctions, two senior administration officials said."We've been messaging very heavily to the shipping companies, you don't want to do this, it's not worth it," said one official, who spoke to Reuters on condition of anonymity. "It's incredibly dangerous and irresponsible behavior."China is the largest remaining buyer of Iranian oil after U.S. President Donald Trump reimposed sanctions on Tehran's main export. Trump tightened U.S.

11 Oct 2019

CNOOC Seeks Replacements for Sanctioned COSCO LNG Tankers

AdobeStock / © Kasto

China National Offshore Oil and Gas Company (CNOOC) is on the hunt for liquefied natural gas (LNG) tankers to charter, several industry sources told Reuters, looking to replace ships it had previously hired that are linked to a Chinese company sanctioned by the United States for allegedly transporting Iranian oil.The company, COSCO Shipping Tanker (Dalian), is one of four Chinese firms on which the Trump administration imposed sanctions on Sept. 25, in what it described as the biggest sanctions taken by the U.S.

11 Oct 2019

Tokyo Gas Rejects LNG Tanker after Power Outage

The Energy Atlantic (Credit MarineTraffic.com / © ultrabarqueros

Japan's Tokyo Gas rejected delivery of a liquefied natural gas (LNG) tanker on Thursday after the vessel suffered a power outage after entering Tokyo Bay, a company spokesman told Reuters on Friday.The 157,000 cubic metres tanker, Energy Atlantic, loaded a cargo from Corpus Christi LNG Terminal on Sept.

11 Oct 2019

Iranian Tanker Hit by Missiles, Oil Rises

© PhotoGranary/AdobeStock

Oil prices jumped more than 2% on Friday, October 11, 2019, after Iranian media said a state-owned oil tanker had been struck by missiles in the Red Sea near Saudi Arabia, raising the prospect of supply disruptions weeks after attacks on Saudi oil plants.The Suezmax crude tanker Sabiti was ablaze and suffered heavy damage after being hit by two missiles, Iranian media reported.Both oil benchmarks recorded their biggest daily rise since Sept. 16, the first trading day after the…

10 Oct 2019

Greece Trims Piraeus Port investment plan

File Image: A Piraeus cruise terminal berth (CREDIT: AdobeStock / © anastasiia Usoltceva)

Greece has trimmed an investment plan by Piraeus Port Authority (PPA) to boost operations at one of Europe's largest harbours, rejecting proposals for a new container terminal.PPA, majority owned by China's COSCO Shipping , had submitted to Greece's shipping ministry an 800-million-euro plan, which included a new cruise ship terminal, a mall and four hotels in the port.PPA had also proposed to build a fourth container terminal that would boost Piraeus' total throughput to 10 million…

09 Oct 2019

Austal, Cerberus Mull JV on Hanjin's Philippine Yard

AdobeStock / © Bernell11

Australian shipbuilder Austal Ltd and U.S. private equity firm are considering a joint bid for a strategically located but debt-laden Philippine shipyard, the facility's trustee said on Wednesday.Hanjin Philippines, a unit of South Korea's Hanjin Heavy Industries & Construction Co Ltd, in January defaulted on $1.3 billion in loans, of which $900 million is owed to South Korean banks and the rest to five Philippine lenders.Austal and Cerberus are interested in the distressed shipyard…

01 Oct 2019

Iran building oil pipeline to terminal outside Gulf

© alexyz3d / Adobe Stock

Iran is building a $1.8 billion oil pipeline to its port of Jask outside the mouth of the Gulf, the country's oil minister said, as part of plans to protect its exports against potential problems in the region and to boost shipments of Caspian oil.Iran has been planning since at least 2012 to set up the terminal on the Gulf of Oman, just outside the Strait of Hormuz.Tehran has threatened to block the vital Gulf oil shipping route during its standoff with the United States, after Washington last year withdrew from Iran's 2015 nuclear deal with world powers and reimposed sanctions…

30 Sep 2019

Oil Tankers Fire Injures 10 in S.Korea

A fire that spread across two oil tankers in a South Korean port injured 10 people on Saturday, coastguard and fire officials said, adding the blaze had largely been put out.An explosion occurred on the Stolt Groenland, a 25,000-tonne, Cayman Island-flagged oil tanker, at the southern port of Ulsan at around 10:50 a.m. (0150 GMT), a coastguard official said.There were 25 sailors aboard, including Russians and Filipinos.The fire spread to another oil tanker docked nearby, the 9,000-tonne, South Korean-flagged Bow Dalian, with 21 aboard, he said.All of the sailors on both ships were rescued, but 10 people, most of whom were workers at the terminal, have been wounded so far, a fire official told Reuters.

27 Sep 2019

Oil Freight Rates Rocket After U.S. Sanctions COSCO

Asian oil suppliers face high tanker charter rates following new U.S. sanctions against Chinese oil transporter COSCO. (Photo © Adobe Stock / Vladimir)

Oil freight rates in the Middle East and Asia have increased by almost 20 percent today following new US sanctions on units of Chinese company COSCO for its alleged involvement in ferrying crude oil out of Iran.In what the U.S. State Department has described as “one of the largest sanctions actions the U.S. has taken” since restrictions were re-imposed on Iran in November 2018, two units of COSCO, as well as other companies, were named in claims of involvement in sanctions-breaking Iranian oil shipments.Asian oil buyers have been rushing to the shipping market to charter vessels…

26 Sep 2019

Canadian company ships solid oil sands bitumen to China

© Igor Groshev / Adobe Stock

A Canadian company has loaded a test cargo of solid bitumen onto a vessel destined for a refinery in China, the latest effort by the energy industry to avoid congested export pipelines and find new ways to export more oil sands crude.Calgary, Alberta-based Melius Energy loaded 130 barrels of neat bitumen, similar in consistency to a hockey puck, onto a 20-foot shipping container in Edmonton, Alberta, and transported it by rail to the Port of Prince Rupert in northern British Columbia.

26 Sep 2019

Unipec Replaces Ship Charters After U.S. Sanctions COSCO Tanker Units

© Carabay / Adobe Stock

China's Unipec has made replacement bookings for four oil shipments from the Middle East Gulf after the United States imposed sanctions on the tanker subsidiaries of China's COSCO, three shipping sources said on Thursday.The sources said Unipec, the trading arm of Asia's top oil refiner Sinopec, had switched to other tanker owners including China Merchants-owned AMCL after the designation by Washington on Wednesday of two of state-owned COSCO's subsidiaries.Sinopec declined to comment. AMCL's Hong Kong office could not be reached for comment after office hours.

25 Sep 2019

Stena Bulk CEO Not in Talks with Iran Over Seized Tanker

Erik Hanell  (Photo: Stena Bulk)

The company which owns the British-flagged Stena Impero oil tanker seized by Iran is not in negotiations with Iran and is not aware of any formal charge against the crew or the company, its chief executive said on Wednesday."We haven't been accused of anything. Not through any formal letter or anything else to the company. We are still in the dark over why we are anchored in Bandar Abbas," Stena Bulk CEO Erik Hanell told Reuters by telephone.Iran seized the British tanker near…

23 Sep 2019

France's Cannes to Ban Polluting Cruise Ships

© saiko3p / Adobe Stock

Mediterranean resort town Cannes, France's fourth-biggest cruise ship port, will ban the most polluting cruise ships from next year in a bid to boost air quality in the city.The ban will target ships that do not respect a 0.1% cap on sulphur in their fuel and could stop some passengers from disembarking in the city famous for its film festival."It's not about being against cruise ships. It's about being against pollution," Cannes Mayor David Lisnard told Reuters Television in an interview.Under the European Union's clean air policy…

17 Sep 2019

Sovcomflot CEO to Switch to Chairman

(Photo: Sovcomflot)

Sergei Frank will step down as president and chief executive of Russian state-controlled shipping giant Sovcomflot after 15 years at the helm, four sources familiar with the decision told Reuters on Tuesday.Frank will give up operational control of Sovcomflot and take over as chairman of the company's board, two of the sources said.It was not immediately clear why Frank, 59, was moving position.

17 Sep 2019

Middle East Risks Keep Oil Prices High

Oil prices have risen massively following the recent attacks on Saudi oil refining facilities – the US has responded by authorizing the release, if necessary, of emergency crude oil stocks to ease price pressures. (Photo © Adobe Stock / Douglas Knight)

Oil lost some of its big price rises today as the US announced the possible release of crude reserves but the possibility of military action in response to the drone attacks on Saudi oil facilities still means prices are high and that stocks are under pressure. Equity market losses have not been large but investors are continuing to support ‘safer’ assets such as gold, for which treasury prices are rising.Brent crude prices fell 1.78% to $67.79 per barrel in Asia today (Tuesday, September 17) after a big increase yesterday of 14.6%, the biggest one-day percentage gain since at least 1988. U.S.

13 Sep 2019

Gibraltar Acted in Good Faith Over Adrian Darya 1 Tanker Release

© Tony Hogwood / MarineTraffic.com

Gibraltar acted in good faith when it released the Adrian Darya 1 tanker and Iran broke assurances it had given not to sell the crude oil to Syria, the British territory's maritime minister said on Friday.British commandos on July 4 seized the supertanker, formerly named the Grace 1, on suspicion that it was en route to Syria in breach of European Union sanctions.Gibraltar released it on Aug. 15 after getting written Iranian assurances that it would not discharge its cargo of…

13 Sep 2019

Fire Reported on Tanker at Sture Terminal

A fire onboard an oil tanker at Norway's Sture crude export terminal has been put out, the fire service told Reuters on Friday.The fire broke out in the engine room of the Dubai Harmony tanker during loading at the Equinor oil terminal on Norway's west coast, according to rescue services and police.No one was injured, and the terminal's output was not affected by the incident, although there was a partial evacuation of staff."The head of the response team on the site confirms that the fire was put out at 1257 CET (1057 GMT)…

10 Sep 2019

Polish Coast Guard Boards Greenpeace Ship in Coal Protest

Photo courtesy of Greenpeace.org

Armed Polish border guards boarded a Greenpeace ship blocking a delivery of coal in the port of Gdansk late on Monday and detained two activists, officials said on Tuesday.The environmental group said it staged the protest to highlight Poland's continued dependence on air-polluting coal and to pressure it to phase out coal as a source of energy by 2030.Greenpeace's Rainbow Warrior arrived in Gdansk at 1600 GMT on Monday and the ship anchored around midnight, trying to prevent a shipment of coal from Mozambique from being unloaded…

09 Sep 2019

New Ship Emission Regs: Dirty Fuel Down but Not Out

File Image / AdobeStock / © dbvirago

Asia's spot premium for 380-centistoke (cst) high-sulphur fuel oil (HSFO) is expected to ease gradually from its recent record highs as shippers adopt cleaner marine fuels next year to meet new, tougher rules on emissions from ships.But as the deadline approaches, analysts and traders agree that demand for the dirtier HSFO will not die out completely as an increasing number of ships get equipped with sulphur-cleaning devices in the coming years to combat pollution.Starting Jan.

09 Sep 2019

Cosmo Oil Builds IMO-compliant Fuel Stocks at Chiba Port

Japanese oil refiner Cosmo Oil is to build new storage capacity for IMO-compliant low-sulfur fuel at its Chiba facility. (Photo © Adobe Stock / show999)

Japan’s third-largest oil refining company, Cosmo Oil, , has started building stocks of very-low-sulfur fuel oil (VLSFO) for supply to domestic marine fuel markets from next month (October 2019) ahead of the IMO 2020 mandate requiring ships globally to reduce their bunker fuel sulfur content to 0.5% from the current 3.5% from January 2020.Cosmo Oil is using VLSFO produced at its residue desulfurizer (RDS) unit at its Chiba refinery near Tokyo to build the stocks, Cosmo Oil’sPresident Shunichi Tanaka said on Sunday…

08 Sep 2019

Iran Seizes Vessel, Holds 12 Filipino crew

Iran's coast guard seized a vessel for allegedly smuggling fuel in the Gulf and detained its 12 crew members from the Philippines, the semi-official news agency ISNA reported.The vessel was carrying nearly 284,000 liters of diesel, the news agency said on Saturday.Iran, which has some of the world's cheapest fuel prices due to heavy state subsidies and the fall of its currency, has been fighting rampant fuel smuggling by land to neighboring countries and by sea to Gulf Arab states.It has frequently seized boats it says are being used for smuggling oil in the Gulf.(Reuters reporting by Dubai newsroom; Editing by Alexander Smith)

06 Sep 2019

2Q Red Ink for CMA CGM Again

A CMA CGM boxship underway in a file image (CREDIT: CMA CGM)

CMA CGM, the world's fourth-largest container shipping firm, reported a second straight quarterly loss as its takeover of CEVA Logistics weighed on its results, but said its business volumes remained strong thanks to growth in the U.S. economy.The French-based group said on Friday that it expected a better second half of the year, supported by previously announced plans to reduce costs and reorganise its shipping services.CMA CGM said it made a second-quarter net loss of $109 million…

Maritime Reporter Magazine Cover Oct 2019 - Marine Design Annual

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News