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Saturday, January 18, 2025

Oil

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Oil

Oil shipping rates surge after US sanctions hit availability

Supertanker freight rates jumped after the U.S. expanded sanctions on Russia’s oil industry, sending traders rushing to book vessels to ship supply from other...

Britain imposes sanctions on trading firm, ‘shadow fleet’ over Russian oil

Britain sanctioned 20 ships on Tuesday for allegedly carrying illicit Russian oil, its latest measures targeting Russia's so-called shadow fleet in response to the...

FuelEU Maritime: How Baltic Exchange is helping shipowners understand the commercial implications

From 1 January 2025, voyages that include port calls in the European Union will have to account for the new FuelEU Maritime regulation. This...

Shell and Equinor to create the UK’s largest independent oil and gas company

Equinor UK Ltd, a subsidiary of Equinor ASA and Shell UK Limited, a subsidiary of Shell plc are to combine their UK offshore oil...

STX Group expands its biofuels business with strategic acquisition of Marine Olie

STX Group, a leading environmental commodities and climate solutions firm, announced the acquisition of Marine Olie, a leading trader of waste-based advanced feedstocks. This...

ADNOC statement on recent media reports

Abu Dhabi National Oil Company, the current majority shareholder of 90% of the ordinary shares in ADNOC Gas, notes recent media reports about a...

Greece extends drills hampering transfer of Russian oil cargoes

Greece’s navy extended for a sixth time a series of naval drills, prolonging them by another four months as the country tries to deter...

China plans first bio-marine fuel export quotas for 2025

China is planning its first export quota for marine bunker that is blended with biodiesel, partly to support biofuel producers hit earlier this year...

Trafigura issues statement on Mongolia petroleum products business

An internal review followed by an external forensic investigation have uncovered serious misconduct by individuals in Trafigura’s Mongolian petroleum products supply business.  The misconduct included...

OPEC cuts 2024, 2025 global oil demand growth view again

Crude Oil Price MovementsIn September, the OPEC Reference Basket (ORB) value declined by $4.82/b, or 6.1%, m-o-m, to average $73.59/b. The ICE Brent’s front-month...

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Testing giants Bureau Veritas and SGS in merger talks

France's Bureau Veritas, opens new tab and Switzerland's SGS (SGSN.S), opens new tab are in merger talks to create a testing and certification giant...

DHT Holdings announces business update

DHT Holdings provides the following business update: “For the fourth quarter of 2024, the Company estimates time charter equivalent earnings for its fleet at $38,800...

Scorpio Tankers announces fixed income investor meetings

Scorpio Tankers through its Norwegian investment banks, will arrange a series of fixed income investor calls commencing on January 13, 2025. A five-year USD...

West fully acquires Nordic Marine Insurance

West announced the full acquisition of Nordic Marine Insurance, a leading provider of fixed premium insurance for the marine industry, specialising in Delay Insurance,...

BW LPG: Kristian Sorensen boosts shareholding

Kristian Sørensen, Chief Executive Officer has purchased 1,000 shares in BW LPG Limited on 19 December 2024 at a price of NOK 115 per...

Greek shipowners make cautious start to 2025

Greek shipowners have made cautious moves, with sales mainly of older ships, in the...

Shipping giants Maersk and Hapag-Lloyd see no immediate return to Red Sea

Two of the world's top shipping companies, Maersk, opens new tab and Hapag-Lloyd, opens...

Baltic index down for third straight session on lower capesize, supramax rates

The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships carrying...

US importers rush in goods from China as Trump tariff threat looms

U.S. imports from China finished the year strong after some companies stockpiled shipments of...

Baltic index extends decline on lower rates across vessels

The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships carrying...

PPA S.A: MSC Cruise sailings started at the Port of Piraeus, a leading homeport cruise port in the Mediterranean

The Management of PPA S.A. welcomed the MSC Sinfonia to the port of Piraeus for 2025, hosting a special event where PPA’s DCEO, Cpt....

Wallenius Wilhelmsen wins terminal contract in Gothenburg

Wallenius Wilhelmsen is taking a strategic step to expand its logistics services by taking over the terminal operations in Gothenburg, Sweden. “It amplifies our operational...

ThPA: A new chapter with the entry of Margarita Louis-Dreyfus

LeonidsPort B.V. of the French Louis-Dreyfus family, whose homonymous business group (LDC) is one of the world’s largest agri-food trading and processing groups, intends...

PPA S.A.: First cruise ship of the year sails at the Port of Piraeus – Historical cruise passenger record

 PPA S.A. welcomed the Viking Saturn, the first cruise ship of the new year, to the Port of Piraeus through a special ceremony that included...

Crowley acquires Main Line, expanding harbor services with mooring capabilities

Crowley announced that it has expanded its harbor services capabilities through the acquisition of Main Line, a vessel mooring company based in Seattle, effective...