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On September 10, Techcross contracted to supply the ballast water management system (BWMS) to Europe’s largest heavy lift vessel (HLV). Two sets of ECS 6000B will be delivered by the end of November. According to a sales spokesperson, a high chance of winning additional orders remains as the ship owner who signed the contract currently possesses nine more ships of the same type. The vessel, famous for its elaborate structure and a scale overwhelming, is capable of carrying about 110,000 tons of cargo, and though designed to move oil or ...

The Company is aware of the allegations that have been made against Hygo’s Chief Executive, Eduardo Antonello. The allegations against Mr. Antonello involve conduct that predates and do not, in any way, implicate his work at Hygo. However, in an abundance of caution, Hygo has initiated a review to seek to confirm that there have not been any deviations from its culture of compliance in connection with Mr. Antonello’s service to Hygo. Source: Golar LNG

The Panama Canal has been selected as a finalist by the Platts Global Energy Awards for its Award of Excellence for Midstream Companies. This prestigious award recognizes organizations involved in energy storage, transportation and trade that have adapted exceptionally to an ever-changing landscape while connecting markets and continued to offer the highest standard of customer service. “We are honored to be recognized for our role in facilitating global energy markets safely and reliably in recent months,” said Panama Canal Administrator, Ricaurte Vásquez. “Despite the challenges faced across the industry this ...

Decarbonisation, Innovation, Infrastructure, Freeports and properly functioning and resourced regulators are key asks for future Government spending, set out in a letter to the UK Chancellor from the ports industry today. With EU Exit imminent, the BPA has also called for funding to future-proof the sector. As a member of umbrella group Maritime UK, the BPA’s submission complements MUK’s submission, which calls for a £1bn maritime decarbonisation programme. Whilst the ‘comprehensive spending review’ may be on ice for another year, according to reports, the BPA delivered its submission to the ...

Ships have been getting bigger and bigger over recent years. Vessels that were once seen as innovative in terms of their size and capability are already on the list of “the former greats” as newer and larger ships are developed, taking the industry’s trunk routes to new heights in scale and sustainability. For many in the industry, this development in terms of increased size and capability is not only a reality, but a necessity if shipping is to continue to grow and remain competitive as an important service and major ...

New transport corridors passing through the Caspian Sea have increased the role of the “Middle Corridor”, Deputy General Director of Baku International Sea Trade Port CJSC Akbar Karimov said, Trend reports. Karimov made the remark speaking at the ‘Eurasian Knot and the growing role of the Middle Corridor during the COVID-19 pandemic’ international webinar. These transport corridors not only provide communication between countries without access to international waters, but also play a very important role in providing access to European markets, said Karimov. ‘Cooperation between corridors enhances interregional trade. Currently, ...

The volume of naphtha arbitraged from Europe to the Far East petrochemical production hub has fallen on the strength of Europe’s demand, while chartering activity for October loadings is lackluster as traders face a multi-month high freight cost, industry sources said. For October loading shipments for Europe to Japan, only two LR2 tankers were placed on subjects; comparatively, September loading shipments totaled 1.032 million mt and August loading shipments totaled 1.31 million mt, ship fixtures showed. The key Mediterranean to Japan voyage was assessed at $2.475 million on Sept. 22, ...

Russian wheat prices have risen near a 20-month high, driven by demand for exports to the likes of Bangladesh, Egypt and Turkey amid lower yields this year in three major producers — France, Romania and Ukraine. As of Sept.14, Russia wheat exports since the July 1 start of the 2020-21 season totaled 10.1 million mt of wheat, according to the Federal Centre of Quality and Safety Assurance for Grain and Grain products. That was the second highest after the 11.2 million mt shipped over the same period of the 2018-19 ...

Chicago soybean futures were little changed on Friday, with the market set for a weekly loss after rallying for the last six weeks, as rapidly advancing U.S. harvest added pressure on prices. Wheat is poised to end the week with a decline of nearly 5%, after closing higher last week. “U.S. harvest is progressing well,” said one Singapore-based trader at an international trading company. “I wouldn’t say yields are fantastic but they are pretty decent.” The most-active soybean contract on the Chicago Board Of Trade slid 4.1% this week, on ...

Intermonth spreads for benchmark Dubai crude futures were trading sideways in mid-morning Sept. 25 amid an absence of fresh cues, with most Asian buyers having wrapped up their purchasing requirements. At 0300 GMT (11 am Singapore time), the October/November timespread was pegged at a contango of 19 cents/b, widening 1 cent/b from Sept. 24’s Asian close. The November/December timespread was pegged at a contango of 24 cents/b, narrowing 2 cents/b over the same period, Platts data showed. Traders said that activity has more or less wrapped up into the week ...

Oil prices fell on Friday and were set for a weekly decline due to mounting worries about the impact on fuel demand of a widespread resurgence in coronavirus infections, as well as some concern about the likely return of exports from Libya. Brent crude LCOc1 was down 30 cents at $41.64 a barrel by 1115 GMT, while U.S. West Texas Intermediate (WTI) crude CLc1 fell 43 cents to $39.88. Brent is heading for a drop of more than 3% this week with U.S. crude on track for a decline of ...

Chinese President Xi Jinping has done the easy part of changing the path of the world’s biggest polluter to become carbon neutral in setting a target 40 years in the future. Now comes the much tougher part of taking costly action today, and changing an entrenched mindset of building fossil fuel energy systems in the world’s most populous nation. Xi told the United Nations General Assembly on Sept. 22 that China aims to be carbon neutral by 2060, and achieve a peak in emissions prior to 2030. However, Xi didn’t ...

The European Green Deal has set Europe a target to be climate neutral by 2050, with a 50-55% reduction in greenhouse gas emissions by 2030. As a net-zero carbon renewable gas, biomethane could play a role in achieving this goal. Europe is the leading producer globally – but is the policy framework in place to support growth? This article is an extract from Biomethane in the European gas market: a look at five key countries. Fill in the form for a preview with a summary of key policy approach by ...

US refined product stocks moved lower in the week ended Sept. 18 as weak refinery runs and an uptick in exports outweighed tepid demand, US Energy Information Administration data showed Sept. 23. Total US gasoline inventories declined 4.03 million barrels to 227.5 million barrels in the week ended Sept. 18, according to the EIA. Distillate stocks moved 3.36 million barrels lower to 175.94 million barrels. The gasoline draw put inventories just 0.9% above the five year average, the narrowest supply overhang since mid-March. Distillate stocks, however, remain ample at 21% ...

After the slide it was the see-saw for markets on Friday, as stocks in large parts of the world, the euro and Dr Copper all headed for their worst weeks since peak coronavirus panic, and the dollar cemented its best run since April. Asia had managed to end its worst week since the global March meltdown with a modest gain and Europe’s main bourses started broadly steady, but with both France and Britain now notching up almost record numbers of new virus cases the mood was jittery. [.EU] London’s FTSE ...