Exports of Russias flagship Urals crude blend from Baltic Sea ports may fall by up to a fifth in December, after a Western price cap and an EU embargo on Russian oil took effect, according to traders and Reuters calculations. Traders said R

The global liquid petrochemical freight market is facing price hikes in 2023 as charterers continue challenging negotiations with shipowners over the cost of affreightment contracts or COAs for the coming year, market participants said late

Shanghai, 22 December 2022 - RINA has announced the Approval in Principle (AiP) of the first very large crude carrier (VLCC) vessel using an innovative propulsion arrangement that reduces the ships resistance by 5-10%. This result is achiev

The BIMCO CII clause has been developed to help address the commercial complexities of the CII regulation entering into force on 1 January 2023. The regulation was adopted at the IMO despite attempts by the industry to point out the potenti

The Baltic Exchanges dry bulk sea freight index fell on Thursday, marking its biggest one-day percentage loss in five weeks, as demand waned across all segments. The overall index, which factors in rates for capesize, panamax and supramax s

BIMCO is revising its popular suite of ship management and related third-party management agreements to reflect current practices in the market. First in line is SHIPMAN 2009, BIMCOs standard form ship management agreement that may include

Signal Ocean looks at the outlook for crude oil freight fundamentals amid the geopolitical crisis Demand - Freight Rates - Vessel Speeds - Supply 2022 saw a record boom in crude and product tanker freight rates. Geopolitical tensions betwee

The year ended in somewhat anti-climactic fashion for long-term ocean freight rates, with the latest data from the Xeneta Shipping Index (XSI) showing a decline of just 0.1%. Following on from a steep 5.7% month-on-month fall in November, a

To improve connectivity to key markets in the Middle East, Pacific International Lines (PIL) is pleased to announce thefurther enhancement of its Gulf China Service (GCS), with the addition of Hamad Port in Qatar to the existing calls to Je

Pacific International Lines (PIL) is pleased to announce that it has made its first delivery of fresh avocadoes to Singapore from Australia using its latest 40 high cube Controlled Atmosphere (CA) refrigerated (reefer) containers. The batch

Sunrui signed a contract with JapanNAMURAShipbuilding Co.,Ltdto supply Ballast Water Management System for 20 ships. On December 15, Mr. Wang Qihong, Director of CSSC 725 Research Institute and Chairman of SunRui, and Mr. Fu Hongtian, Gener

Funding will support commercial-scale filter manufacturing A carbon capture technology firm is getting financial backing from Chevron. Chevron New Energies (CNE), a division of Chevron U.S.A., and Svante announced that Chevron is the lead i

On December 21, COSCO Shipping Energy Transportation signed a Memorandum Of Understanding(MOU) on the research and development of liquid carbon dioxide transportation with and Petro China International (Singapore). In the context of carbon

On December 20th, Mitsui O.S.K. Lines, Ltd.(MOL) and GAIL (India) Limited (GAIL;Headquarters: New Delhi), a central public sector undertaking under the Ministry of Petroleum and Natural Gas, Government of Indian and Indias largest gas utili

According to theMaritime ReporterEngineering News,the Great Ships of 2022 has released,Shanghai Passenger Shippings Xin Sheng Taiand COSCO Shipping Energy Transportation s Yuan Rui Yangare on the list. M/V Xin Sheng Tai M/V Xin Sheng Tai is