Asia’s very low sulphur fuel oil (VLSFO) refining margin posted a weekly decline on Friday, though the product’s cash premium recovered in recent sessions. The 0.5% VLSFO crack fell to a premium of $8.75 a barrel at the Asia close on Friday, down about 3% from last week, according to LSEG data. A recent drop in gasoline refining cracks are likely to lead to the diversion of more blendstocks into the bunker pool instead of the refining feedstocks pool, industry sources said. This could cap recovery in VLSFO amid potentially ...

North America All grades remain in normal availability in Houston. Some suppliers replenished stocks recently and are able to supply for prompt delivery dates, a source says. VLSFO and LSMGO availability is good in Beaumont. A supplier can deliver both grades for very prompt dates (0-3 days). At the New Orleans Outer Anchorage (NOLA), availability of VLSFO and LSMGO has been steady, with prompt supply available. Prompt LSMGO supply is also available in Miami port in Florida. VLSFO availability is tight in the West Coast ports of Los Angeles and ...

On September 27, NYK signed a basic agreement with JERA Co., Inc. and Trelleborg Marine Systems Australia Pty Ltd. (TMS), an Australian marine port materials manufacturer that is a group company of Swedish polymer manufacturer Trelleborg AB, to conduct a trial operation of DynaMoor, a mooring system that suppresses hull shaking. The three companies will install DynaMoor at the coal discharging berth of JERA’s Hitachinaka Thermal Power Station (Ibaraki Prefecture) and operate it in actual cargo operation from 2024 to verify the effect of reducing the movement of moored ships ...

The newly-built W-Max class liquefied natural gas (LNG) carrier “LAGENDA SETIA” for Petronas LNG Ltd. is delivered at Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. yesterday. The vessel which is the same type as the other two vessels delivered for PETRONAS in May and June 2022*¹, was given her name “LAGENDA SETIA” by Mrs. Sharifah Fauziah Wan Idrus, wife of Mr. Adnan Zainal Abidin, PETRONAS COO and EVP & CEO of Gas Business on 21st of August 2023. Management and staff of PETRONAS, Hudong-Zhonghua Shipbuilding (Group) Co., Ltd., Shenergy (Group) Co., Ltd., ...

The ReCAAP Information Sharing Centre (ISC), in cooperation with its Australia Focal Point, the Australia Border Force (Maritime Border Command), today concluded a four-day Capacity Building Executive Programme (CBEP) attended by the coast guards, navies and maritime law enforcement agencies from Australia and 12 ReCAAP Focal Points (Bangladesh, Brunei, Cambodia, China, India, Japan, Laos, Philippines, Sri Lanka, Thailand, Vietnam, United States), as well as the Indonesian Coast Guard and Malaysian Maritime Enforcement Agency (MMEA). The Australian Department of Home Affairs Cyber and Infrastructure Security Group and the Australian National Centre ...

Research has shown that nowadays, 90% of transformation programs fail to meet the expectations outlined in the business case, marking a drastic increase of 20% compared to the same figure 40 years ago*. Some argue that digitalisation is a double-edged sword because its transformative nature often means that there are no set rules to follow. Is digitalisation making us struggle more than ever before? If this is not the case, what are the underlying reasons that companies struggle to achieve digital success? Indeed, digitalisation offers near-endless opportunities, providing shipping companies ...

Praxis Automation, a global leader in ship automation, electrical propulsion and dynamic positioning systems, announced that it has been awarded a long-term collaborative contract by Rawabi Vallianz Offshore Services (RVOS), a Saudi world class support service provider to the offshore industry. RVOS is one of the offshore service companies of Rawabi Energy company. Under this RVOS fleet-wide contract, new build and existing offshore support vessels will be equipped with Praxis dynamic positioning systems, as well as customised equipment and software for digitization of the fleet in phases agreed with RVOS. ...

“Nuclear energy has moved beyond a wildcard option and into the mainstream of potential solutions for a more sustainable maritime industry. Nuclear energy is not just about the potential for a reactor to operate on a ship. With advanced nuclear technology, the potential is so much more.” That was the message from ABS Chairman and Chief Executive Officer Christopher J. Wiernicki, who welcomed nuclear energy experts, government representatives, academia, and senior maritime industry leaders from around the world for the very well-attended ABS forum, The Role of Advanced Nuclear Technologies ...

In a letter sent to President Biden on World Maritime Day, 32 organizations called for an Executive Order to decarbonize maritime shipping. The Biden administration has already made significant commitments to eliminate emissions from the shipping industry, as well as to accelerate the development of zero-emission fuels and technologies and advance environmental justice. While the administration can achieve many of these commitments through legislation, the groups say, “there are critical actions that could be taken immediately through executive action.” In July, the International Maritime Organization (IMO) adopted a revised greenhouse ...

Hempel, world-renowned leader in antifouling technology, announced today its innovative, high-performance, copper-free, and biocide-free antifouling coating – Silic One will be available in the United States and Canada. Sold exclusively in North America by SeaWide Distribution, Hempel’s Silic One is a revolutionary bottom coating that is environmentally friendly while reducing time spent cleaning a vessel’s bottom and improves efficiency by delivering higher boat speed and lower fuel costs. Hempel’s Hydrogel technology is unique to Silic One and elevates it high above other antifouling products. These unique and non-reactive polymers create ...

Shreyas Shipping delisting: Shreyas Shipping & Logistics Ltd successfully completed the book building procedure to delist itself from the bourses. Even with the majority of shareholders being retail stockholders, the building promoters in this reverse book were able to obtain more than 90% of the shares. In excess of the necessary minimum of 4.07 million shares, about 4.3 million shares were tendered by the shareholders. The promoter of Shreyas Shipping, Transworld Holdings (THL), made an offer to buy public shareholders’ shares of the company for an indicated revised price of ...

Stolt-Nielsen begins OSE 3Q reporting season with figures to be released on October 5th. Somewhat softer market conditions were guided, yet, the company had some record-breaking quarters and this cannot last forever. During the mid-reporting season, Stolt-Nielsen issued NOK 1.2bn bond, and more importantly, had a change of CEO and after many years the surname of Stolt-Nielsen is written next to the position no more. We increased the WACC but keep the NOK 400/sh Target Price in our valuation. Buy is reiterated although the upside has reduced over the last ...

The European Economic and Social Committee (EESC) calls for more joint actions on EU Maritime Security Strategy and its Action Plan which aim at preserving EU sovereignty, security and competitiveness. The Committee supports the EU-NATO cooperation on maritime security and signals the importance of firm engagement with international partners to collectively tackle people smuggling and human trafficking. At its September plenary session the EESC adopted an opinion on the Commission’s joint communication on the EU Maritime Security Strategy and its Action Plan, highlighting the importance of multilateralism as a key ...

Steel Authority of India SAIL.NS is expecting four ships of coking coal from Russia in the September quarter, each with a capacity of 75,000 tonnes, Chairman Amarendu Prakash told reporters on Thursday. “We had four ships in the first quarter (April-June) and similarly we are expecting four such shipments in the quarter that ends in September,” Prakash said. The country’s largest state-owned steel producer also said the company was working on doubling coking coal production capacity in International Coal Ventures Private Limited (ICVL) at Mozambique. At present, ICVL has a ...

Residual fuel oil stocks at key trading hub Singapore slipped to three-week lows, with net imports retreating after last week’s jump, official data showed on Thursday Onshore fuel oil stocks fell 9.5% to 19.77 million barrels (3.11 million metric tons) in the week to Sept. 27, Enterprise Singapore data showed. Weekly net imports, calculated by subtracting total exports from total imports, eased 17.3% from last week at 834,000 tons. Brazil was the top origin for Singapore’s fuel oil imports at 252,000 tons, with imports up for a second straight month. ...