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2021 was a very negative year for crude oil trade. Total loadings in the whole 12 months of 2021 were down -4.4% yo-y to 1,887 mln tonnes

Capesize futures curve now points to peak rates later in the year – The considerable downside adjustment in the futures curve has been the

Athenian Shipbrokers SA Ship Recycling Weekly Report

Signatory States to the revised Code of Conduct concerning the repression of piracy, armed robbery against ships and illicit maritime activity in the western Indian Ocean and the Gulf of Aden Area, known as the Jeddah Amendment to the Djibouti Code of Conduct 2017, have agreed a raft of measures to combat new and emerging threats to maritime security. The high-level meeting, held in Dubai (28-30 June), acknowledged that maritime threats have evolved and expanded beyond piracy into other challenges that have a damaging effect on the economies of the ...

Fleetzero has an ambitious goal: to compete with global shipping companies with its own boats, powered entirely by electricity. The company just secured $15.5 million in new funding and is looking for the first ship to convert to run on its shipping container-shaped batteries. The company’s plan, described in detail here, is to convert existing ships to electric propulsion, replacing the diesel engine or generator with enormous batteries of the company’s own design. These would be loaded and unloaded like any other cargo, swapped out at ports and charged between ...

USA-based manufacturer Advanced Polymer Coatings (APC) is reinforcing its position as the prime protective tank coating company in Turkey’s maritime sector after signing a major multi-ship deal to recoat ten tankers with Turkish ship management firm Chemfleet. The deal was struck at Chemfleet’s Istanbul office by APC’s global marine manager, captain Onur Yildirim, and its Turkey marine manager captain Koray Karagoz. Captain Yildirim said APC now holds 80 per cent of the Turkish marine coatings market having coated and repaired more than 450 vessels since establishing in the country in ...

BASS Software has launched a brand new BASSnet Safety & Quality mobile app for audits, inspections and findings ‘anytime, anywhere’. The app sports a user-friendly, intuitive UI with rich functionality. It fully supports Android and IOS. Users can employ this on-site digital assistant to: instantly create new Findings (including Suggestions for Improvement, Near Misses, Defects, Non-Conformities, Claims or Accidents/Incidents) create and execute effectively audits and inspections create and assign follow-up actions with due dates snap, upload and mark up images on the go export and share audit/inspection reports. With the ...

Labor slowdowns and strikes at the German and Netherland ports are creating a massive pile-up of export containers bound for the U.S. that will take months to clear out. According to the bills of lading found through ImportGenius, some of the items that are exported out of these ports are critical components to the auto sector like lithium batteries, fully assembled automobiles, as well as a wide variety of auto parts, and chassis. Mercedes, BMW, and Ford were listed in recent U.S. Customs filings. “U.S. importers need to look four ...

The new Vado Express feeder service will connect Port Said East, located on the Suez Canal where it meets the Mediterranean Sea, and Vado Gateway, at the Port of Genoa, one of the most significant and busiest ports in Italy. The new service will reduce transit times and alleviate congestion while offering higher flexibility in current challenging times. The first vessel from Maersk’s new service (3000 TEUs) will depart from the Suez Canal Container Terminal (SCCT) on the east bound lane of the Suez Canal, on July 8th and will ...

For the first time, the U.S. provided more liquefied natural gas (LNG) to Europe than Russia sends by pipelines, according to the latest data released by the International Energy Agency (IEA). Russia ships about 150 billion cubic meters of gas to Europe via pipelines every year, and another 14 billion to 18 billion cubic meters of LNG, accounting for over 40 percent of total imported natural gas of Europe. In 2021, Russia met more than a third of the European Union’s (EU) gas demand, said the IEA. However, in response ...

Some 106.9 million barrels of crude oil were shipped from the marine terminal of the Baku-Tbilisi-Ceyhan (BTC) pipeline in the Ceyhan region in the first six months of 2022, Azernews reports, citing Anadolu. “The crude oil that arrives at the Heydar Aliyev terminal is sent from there by tankers to the world market,” the statement reads. From the marine terminal, from its commissioning in 2006 until the end of last year, 4,947 tankers delivered 3.7 billion barrels of oil to the world market. In the first half of this year, ...

South Korea’s Major Feedmill Group (MFG) has issued an international tender to purchase up to 140,000 tonnes of animal feed corn, European traders said on Tuesday. The deadline for submission of price offers in the tender is believed to be Wednesday, July 6. The corn is sought in two consignments of between 55,000 to 70,000 tonnes with the seller free to decide the volume offered in this range, they said. The first consignment is sought for arrival in South Korea around Oct. 27. Shipment was sought between Sept. 3 and ...

Copper prices extended a decline on Tuesday to a 17-month low as a cocktail of factors from aggressive interest rates, a spike in COVID-19 cases in China, potential recession and rising inventories weighed on investor sentiment. Three-month copper on the London Metal Exchange dropped 1.5% to $7,888 a tonne, as of 0719 GMT, its lowest since February 2021 and down for a fourth straight session. The most-traded August copper contract in Shanghai ended daytime trading down 1.9% to 60,110 yuan ($8,975.66) a tonne by the midday trade. “There was a ...

Ferrous metals prices took a nosedive across the board at the opening of today’s daytime session. As of noon, iron ore futures closed at 5.5% at 722 yuan/mt, rebar futures closed down 3.11% at 4,181 yuan/mt, while HRC closed down 3.4% at 4,202 yuan/mt. Ferrous metals market saw a brief rally last week, but fell again at the beginning of this week. Covid-19 infections in Anhui, Jiangsu and other places of China increased over this past weekend. A major property developer defaulted, weighing on market sentiment. In terms of fundamentals, ...

Iran, whose energy trade is pressed by US sanctions, is ready to pump more oil as the world needs the crude to balance supply and demand and calm prices before travel seasons in the US and Europe, the oil minister Javad Owji said, according to economic daily Donyay-e Eqtesad. Iran could increase production to levels before the sanctions, he said, without giving an estimate of current output. “There are some worries about oil supply shortage in the coming months,” he said, despite some concerns about economic slowdown and possible curbs ...