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Meetings Of The Tripartite Maritime Table Restart With The Participation Of The Government, Seafarers And Shipowners

As part of the commitment carried out by the Panama Maritime Authority (AMP) with the maritime, port and logistics sectors of the country, the seventy-fourth meeting of the Tripartite Table of the Sea (METRIMAR) was held, after having been in recess from the end of February of this year to date, whose purpose is the adoption of the legislation that will be applied on board the Panamanian-flagged merchant ships of internal service and the commercial fishing vessels of the Panamanian flag of internal and international service . METRIMAR, contemplates the ...

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U.S. offshore oil output to restart after pipeline fix

A damaged oil pipeline component that disrupted output at several offshore U.S. Gulf of Mexico platforms is expected to be replaced by day’s end, a Louisiana official said on Friday, with producers moving to reactivate some of the halted production. A failed flange connecting two onshore pipelines operated by Shell Plc (SHEL.L) in Louisiana leaked an estimated two barrels of oil. The oil, which spilled onto an area covered with gravel, has been removed, said Chett Chiasson, executive director of Greater Lafourche Port Commission. The spill halted operation of two ...

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PPP projects herald growth of major ports, says Shripad Naik

Public-private partnership projects have heralded the growth of major ports in the country as it has helped create new infrastructure, improve utilisation of assets, and enabled national ports to compete with international ones, said Union Minister of State for Ports, Shipping and Waterways Shripad Y. Naik. In his virtual address at the regional PPP conclave at New Mangalore Port on Thursday, Mr. Naik said the PPP model helped to get investment to the tune of ₹5,287 crore for container and LNG terminals at Kochi. Investment of ₹1,126.69 crore has been ...

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VHBS New ConTex Container Ship Time Charter Assessment Index Week 32 2022

The New ConTex continued on its downward path which it has now followed for about one month

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Affinity Tanker Weekly, 12 August 2022

VLCCs remain steady, with next done achieving marginally higher levels than last

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Jeff Bezos’ megayacht is close to being finished — here’s what it looks like up close

The 417-foot vessel was spotted Sunday floating at the Greenport shipyard in Rotterdam, Netherlands, with its three large masts in place. Dutch Yachting, a YouTube channel dedicated to Dutch-built vessels, posted video footage that gives us the closest look yet at Bezos’ yacht. The massive yacht has been the subject of months of contention in the Netherlands. In order to get the vessel from the shipyard to the open water, it needed to pass through Rotterdam and underneath the city’s famous Koningshaven Bridge, known locally as De Hef. There was ...

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Panama Canal grapples with climate change threat

Global warming and changing weather patterns are affecting the water supply for one of the world’s most important waterways, the Panama Canal, as well as access to drinking water for millions of Panamanians, reports journalist Grace Livingstone from Panama City. The Panama Canal is a great feat of 20th-Century engineering. Upon its completion in 1914, this man-made waterway linking the Pacific and Atlantic Oceans nearly halved the travel time between the US West Coast and Europe. To this day, ships have to pass through a series of locks to overcome ...

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STOCK MARKET SNAPSHOT FOR 13/8/2022

NASDAQ-Adv: 3,367 Dec: 1,218 NYSE-Adv: 3,347 Dec: 754 (Source: Nasdaq)

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DHT Holdings, Inc. Second Quarter 2022 Results

DHT Holdings, Inc. announced: QUARTERLY HIGHLIGHTS: •In the second quarter of 2022, the Company’s VLCCs achieved an average rate of $24,300 per day. •Adjusted EBITDA for the second quarter of 2022 was $32.5 million. Net profit for the quarter was $10.0 million which equates to $0.06 per basic share. •In May 2022, the Company entered into agreements to sell DHT Hawk, built 2007, and DHT Falcon, built 2006, for $40 million and $38 million, respectively. The vessels were both delivered during the second quarter of 2022 and the sales generated ...

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First export of wheat under U.N. deal as two more ships leave Ukraine

Two more ships left Ukraine’s Black Sea ports on Friday, including one laden with the first Ukrainian wheat to be exported under a U.N.-brokered deal, Turkey’s defence ministry said. A total 14 ships have now departed from Ukraine during past two weeks, following the deal with Russia to allow a resumption of grain exports from Ukraine’s Black Sea ports, after they were stalled for five months due to the war. The agreement, brokered by the United Nations along with Turkey, was reached last month amid fears that the loss of ...

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Vedanta-Iron and Steel signs MoU with IIT-B for R&D to develop technology for ‘Green Steel’ production

Vedanta Ltd (NS:VDAN) Iron and Steel Business has recently partnered with IIT Bombay (IIT-B) on an R&D project to develop cost-effective technology for producing Green Steel using hydrogen targeting significant carbon footprint reduction in Iron and Steel space. Further Vedanta-Iron and Steel and IIT–B will collaborate on exchange of knowledge and technology for process innovation and excellence. The first project kick-off meeting between Vedanta-Iron and Steel leadership team and IIT-B senior executives was held through virtual platform which was chaired by Sujal Shah, CEO, Sesa Goa Iron Ore Business, Vedanta ...

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HMM’s net profit hits 2.9 trillion won in the second quarter

HMM reported a net profit of 2.9 trillion won ($2.2 billion) in the second quarter, surging 1,293.4 percent on year helped by higher freight rates. The figure beat analyst expectations of a 2.8-trillion-won net profit compiled on FnGuide. The shipping company logged revenue of 5.03 trillion won, up 73.2 percent on year, also beating analyst expectations of 4.8 trillion won. HMM has been reporting record-high quarterly revenue since the fourth quarter of 2020, but failed to reach the milestone in the second quarter. The shipping company said freight rates in ...

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China’s coal-rich Shanxi makes strides in high-quality development

Shanxi, a major coal-producing province in north China, has made continuous advances in high-quality development over the past decade, according to a press briefing held Wednesday. Shanxi’s accumulated coal output over the past 10 years reached nearly 10 billion tonnes, accounting for about a quarter of China’s total, said Lin Wu, secretary of the Shanxi Provincial Committee of the Communist Party of China, adding that Shanxi’s coal output is expected to reach 1.3 billion tonnes in 2022. While ensuring China’s energy supply, Shanxi has strived to push forward the transition ...

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ENGINE: Americas Bunker Fuel Availability Outlook

North America Prompt VLSFO and LSMGO availability remains normal in the Houston area. LSMGO can be tight for prompt dates in New Orleans. A supplier has a tight schedule for delivery dates 3-7 days out. Another supplier can commit to that lead time. VLSFO and LSMGO grades are available for prompt delivery dates in New York, but can be tight for deliveries with very prompt 0-3 days of lead time, with two suppliers unable to commit because of busy schedules. Suppliers in Los Angeles can accommodate prompt stems. At least ...

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Sembcorp Marine reports lower net loss of S$143 million for 1H2022 compared to loss of S$647 million in 1H2021

“Sembcorp Marine Ltd (the “Company”, and together with its subsidiaries, the “Group”) reported a net loss of S$143 million for the six months ended 30 June 2022 (“1H2022”). This was a significant improvement from the S$647 million loss reported in 1H2021. Strong Execution and Delivery of Projects 1. The Group started the year with a total of 16 projects under execution, with 12 projects scheduled for completion and delivery in FY2022. Seven of the 12 projects have been delivered year-to-date. In addition, for the Ropax ferries project, two of the ...

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