The fuel used to power airplanes is usually one of the most expensive oil products in the market, but with travel restrictions and the coronavirus keeping passenger planes grounded, the fuel is now being used as a blending component for the typically cheaper shipping fuel.
The major European port in Antwerp, Belgium, will retrofit three of its own ships to sail on methanol, technical manager tells media.
Experienced shipping and offshore analyst Kristin H. Holth joins the board of directors of Maersk Tankers, which also brings in another new member from the energy sector.
Mining company BHP is in negotiations with several LNG companies to supply fuel to vessels set to transport iron ore from Australia to China, reports Reuters.
It will endanger security on board if the exceptions that were adopted during the coronavirus pandemic end up becoming permanent, warns labor association ITF in new report.
Torm majority owner Oaktree Capital has bought up shares in competitor Ardmore Shipping, which Hafnia previously attempted to take over. The equity fund is now the tenth-largest shareholder in the Irish tanker operator.
Blanked sailings are causing delays and have sent Transpacific container rates soaring. "Within the past month, it has run amok," says Carsten Trolle, CEO of Air & Sea at DSV, in an interview with ShippingWatch.
Major pharmaceutical company Novo Nordisk now tells its 60,000 suppliers that they must both produce and transport their products 100 percent sustainably from 2030. Otherwise they will lose Novo Nordisk as customer.
Maersk has resumed the sailings on the Pacific that it blanked in the second qurter. As such, the company follows in the footsteps of Chinese OOCL, which has also reinstated several blanked sailings in October.
Major Norwegian ship manager OSM Maritime is in final negotiations to acquire a ship management company from Frontline and Golden Ocean. The deal will be another step in OSM's growth journey.
Over-production and muted demand for oil now result in older tanker vessels seeing the lifespan extended as floating oil storages, according to a new analysis from broker SSY.
A large number of Danish employees will be laid off at Fjord Line, which is hit hard by the coronavirus crisis. But many of them could be hired back on, says CEO.
All signs indicate that the US retail industry will soon need to replenish its inventories following the coronavirus crisis. This is good news for the container lines, which are already sailing at the highest rates in a long time.
Oil company BP cancels a long-term contract with one of Odfjell Drilling's rigs ahead of schedule. The drilling company has, however, already secured new work for the rig in Norway.
The green fuel of the future will be either hydrogen or ammonia. At least if you ask Euronav CEO Hugo De Stoop, who points out the two candidates as the "winners" on the road to achieving the industry's target of reduced emissions.
The interest in getting a slice of the wind market, which is expected to grow by 15 percent per year ahead to 2030, now has both old acquaintances and brand new players within offshore and dry bulk jumping to get in on the action. Maersk, Scorpio and Arne Blystad's OHT are just three among many.
The two new operators Delta Corp Shipping and Coli Bulk were launched in Copenhagen just a few months before the coronavirus pandemic broke out. This has created extraordinary challenges, but both companies expect profits.
Freight rates from China to Europe continue to rise, show new numbers. The new price increases come at a time when China has met with the major container lines about the price development.
The European and international shipowners' associations say in a new report, that there are several major risks related to including shipping in the EU Emissions Trading System.
The experienced shipping and offshore analyst Kristin H. Holth has just secured yet another board position.
Seven Wilhelmsen heirs have offered NOK 3.2 billion to buy out Wilh. Wilhelmsen CEO Thomas Wilhelmsen and his closest family, reports Dagens Næringsliv.
Wind service provider Ziton plans to raise EUR 100 million through an equity offering to industrial and financial investors, the company announces.
The International Bunker Industry Association, IBIA, projects a drop in customers' demand for bunker oil in 2020 of up to 17 percent.
Over the next ten years, Maersk Drilling plans to reduce carbon emissions from its drilling activities by 50 percent. This marks the first time that Maersk Drilling announces a concrete target in this regard.
The Japanese government now sends a team of five people to Mauritius to scrutinize the incident with the Japanese vessel that ran aground a reef this summer and caused an environmental disaster.
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