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U.S. Treasury Secretary Janet Yellen said on Tuesday that she intends to hit Iran with new sanctions in coming days due to its unprecedented attack on Israel, and it could seek to reduce Iran’s capacity to export oil. “With respect to sanctions, I fully expect that we will take additional sanctions action against Iran in the coming days,” Yellen said, adding that Iran’s oil exports “remains in focus as a possible area that we could address.” Source: Reuters (Reporting by Andrea Shalal and David Lawder; Editing by Chizu Nomiyama)

Maritime software solution provider UAB-Online has introduced the digital Notice of Readiness (NoR) for seagoing vessels, the latest in the company’s innovative solutions for streamlining liquid bulk operations. In 2021, UAB-Online was the first large-scale solution provider to introduce the digital pre-arrival process between terminals and seagoing vessels, following on the company’s successes with the inland waterway market dating back to 2010. Now, the company is introducing the digital NoR to address the most critical part of the vessel’s time after arrival in the port. The NoR is an essential ...

With an important new product introduction, technology group Wärtsilä offers operators of offshore vessels, ferries and tugs notable improved operational performance and greater efficiency. The company’s new high-performance thruster and propulsion control solution package utilises a combination of Wärtsilä’s WST-E embedded electric steerable thruster and WST-R retractable thrusters, together with an updated remote propulsion control system featuring an enhanced user interface ProTouch, to bring greater accuracy and reliability to dynamic positioning (DP) operations. The solution’s retractable thrusters feature an 8-degree tilted propeller shaft, which can also be offered as an ...

Global industry leaders from North America, Asia and Europe announced today the formation of the North Pacific Green Corridor Consortium (NPGCC) whose members and partners will work together to decarbonize the value chain for commodities between North America and Asia. The NPGCC will apply its collective expertise to develop a corridor for the decarbonized transportation of multiple commodities, including agricultural products, metal concentrates and steelmaking coal. The members of the NPGCC are committed to establishing the consortium as a catalyst for decarbonization efforts, exploring new markets for low carbon fuels ...

Opsealog, a provider of data integration and analysis services for the maritime and offshore industry, announced today the extension of its partnership contract with Jackson Offshore Operators (JOO), a shipowner operating in the offshore sector in the Gulf of Mexico. The renewed contract reaffirms the collaboration between the two entities, which involves the ongoing development and implementation of data-driven efficiency initiatives. This marks a new step in the partnership between Opsealog and JOO, which began in August 2020 with a pilot project onboard three vessels for a six-month period. Subsequently, ...

Optimarin AS, a leading Norwegian supplier of ballast water treatment systems (BWTS) for the maritime industry, has agreed to acquire the Hyde Marine UV business from the Italian multinational Industrie De Nora S.p.A. Under the transaction, Optimarin will purchase technologies, trademarks and selected assets pertaining to the design, sale and aftermarket of systems using UV technology for ballast water treatment and disinfection, promoted under the Hyde Marine® and Hyde Guardian® brands. The terms of the transaction are confidential. Commenting on the transaction, Optimarin’s CEO Tore Svanheld said: “With this landmark ...

A second series of cavitation tests have confirmed EcoMarine Innovations’ Holy Boss Cap (HBC) propeller hub improves fuel efficiency by up to 5% at full scale, as shipowners and propeller manufacturers vie for licensing agreements. Full scale CFD simulation of a ship operating at a design speed of 16.46 knots and turning a controllable pitch propeller with four different boss-cap models, found the Holy Boss Cap the more efficient solution, outperforming existing hubs by a factor of 2.5 or more. According to the trials report, researchers concluded propeller hub vortex ...

Chinese yard, Guangzhou Shipbuilding International (GSI), has received an order for 4 × MAN B&W 8S60ME-GI engines in connection with the building of 4 × 10,800 CEU Pure Car and Truck Carriers (PCTCs) for South Korean shipping owner, HMM Co. Ltd.. CSIC Diesel Engine Co. Ltd (CSE) will build the Mk10.5 dual-fuel -GI (-Gas Injection) engines in China, which will feature Exhaust Gas Recirculation (EGR) emissions-reduction technology for Tier III NOx compliance. Upon delivery, the PCTCs will go out on charter to Hyundai Glovis Co., Ltd., the logistics company headquartered ...

Intellian Technologies, a leading global provider of multi-constellation, satellite user terminals and communications solutions, celebrates 15 years of successful partnership with Marlink, the smart network and digital solutions company. Since the initial engagement in 2009, Intellian and Marlink have consistently delivered cutting-edge network solutions, driven by a shared commitment to quality, innovation, and customer satisfaction. Intellian Technologies’ extensive product portfolio, featuring multi-orbit, multi-band systems, perfectly complements Marlink’s pioneering role in the satellite communications industry, globally providing fully managed end-to-end smart hybrid network and digital solutions across maritime, land, and military ...

Ukraine’s grain exports through Constanta fell by 35.1% on the year to 2.16 million metric tons in the first quarter, its port authority told Reuters on Tuesday, although overall grain exports via the Romanian Black Sea port were up by almost 28%. Constanta has become Kyiv’s largest alternative export route since Russia’s invasion in February 2022 and the port authority gave no immediate explanation for the drop from Ukraine, which is one of the world’s biggest grain exporters. Grain arrives in Romania by road, rail and barge across the Danube ...

China’s primary aluminium output in March rose 7.4% from a year earlier, official data showed on Tuesday, as producers ramped up operations off the back of rising global prices and stronger demand. The world’s biggest aluminium producer churned out 3.59 million metric tons of primary aluminium in March, according to the data from the National Bureau of Statistics (NBS). A stronger economy helped boost output. Last month, China’s manufacturing activity expanded for the first time in six months, a factor underlined by data on Friday showing GDP in the first ...

Platts, part of S&P Global Commodity Insights, assessed the second-quarter premium for imported primary aluminum at $145-$146.50/mt plus London Metal Exchange cash, CIF main Japanese ports, on April 16, up 61.1%-62.8% from $90/mt in the first quarter of 2024. The Q2 premium assessment was based on 10 reported trades between March 21 to April 15. Eight deals were concluded at $145/mt with a total volume of 8,000 mt/month, and two at $146.50/mt with a combined 9,000 mt/month, plus LME cash CIF Japan for seaborne P1020/P1020A ingot for loading over April ...

Prolonged rainfall over Argentina’s farming heartland has fueled fears of delays to the ongoing soybean harvest that could cause production losses, the Rosario grains exchange said on Monday. Since Friday, at least 70 millimeters (2.76 inches) of rain fell across most of the agricultural region, with peaks of 140 millimeters in some parts. “There is beginning to be a lot of concern about the soybean harvest because there are many areas that have not finished drying,” said Cristian Russo, the exchange’s head of agricultural estimates. Argentina is a top global ...

The US has signed two agreements to help Iraq reduce its highly polluting and wasteful gas flaring, the countries announced late April 15 during Prime Minister Mohammed Shia al-Sudani’s visit to Washington for talks with President Joe Biden. Iraq, which aims to eliminate gas flaring by 2028, flared more than 17.9 Bcm of natural gas in 2022, the second highest amount globally, just behind Russia, according to World Bank data. The process — which wastes resources that could be used for power generation — leaves Iraq dependent on imported Iranian ...

U.S. government bonds are taking investors on an unusually gentle ride. Even as short-term interest rates have spiked over the past two years, yields on longer-dated government debt have remained lower. It’s a rare occurrence that is at odds with financial history and with the current economic trajectory of the United States. When the bond rollercoaster returns, fund managers and Uncle Sam will be in for a shock. To see why the U.S. government bond market is in such an unusual state, look at the yield curve, which tracks the ...