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Crude shipping revs up; supertanker rates top $100,000 a day

Spot rates for very large crude carriers (VLCCs) — tankers that carry 2 million barrels of oil — just breached...
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Oil and gas contractors to strike over pay

Oil and gas contractors on a series of North Sea platforms have voted to take strike action. Unite the union...
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Tankers: VLCC Market Receives Strong Boost

Clean The Middle East Gulf has been active this week with rates improving on all sizes. TC1 (75kt MEG/Japan) has...
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Carbon emissions from Indian marine sector lower than global average

The carbon emissions from the Indian marine fisheries sector is much lower than the global level, an ICAR-Central Marine Fisheries...
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Ukraine, Romania agree to check depths of Danube canals

Ukraine and Romania have agreed to check the depth of canals off the Danube river which Kyiv uses to export...
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DNV awards AiP for a floating ammonia production unit developed by SWITCH2 and BW Offshore

An industrial scale concept for a floating production unit to produce green ammonia has secured Approval in Principle (AiP) from...
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Russia complains of unfulfilled pledges on Ukraine grain deal as renewal date looms

Russia’s foreign minister Sergey Lavrov March 9 repeated his country’s grievances with the agreement that guarantees the safety of commercial...
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VLSFO margin posts weekly gain despite ample prompt supplies

Refining margins for very low sulphur fuel oil (VLSFO) in Asia posted a mild weekly gain despite heavy supply arrivals...
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Implied obligation to re-inspect without delay

In the Pan Ocean Co Ltd v. Daelim Corporation (DL Lilac) EWHC 391 (Comm) charterparty dispute, the arbitral tribunal found...
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Demand for greener supply chain boosts PCTC newbuild market in China

Data from Clarkson shows this niche area is outperforming the rest of the shipping market, with 38 newbuild PCTCs ordered...
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Baltic index gains for third week on stronger capsizes

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, gained for the third straight...
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Brazil’s Iron Ore Exports Down During 2022

Demand for iron ore declined during 2022, bringing export volumes down in most major markets, Brazil included. In its latest...
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IMCA launches approval process for ROV introductory training courses

Following an increase in false certificates in circulation claiming to offer International Marine Contractors Association (IMCA) approved ROV training courses,...
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P&O ferries one year on: time for government to work with unions, not attack them

Nautilus International, the union for maritime professionals, has called on government to work with unions rather than attack them in...
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NYK Recognized as a Certified Health and Productivity Management Organization for Seventh Consecutive Year

For a seventh consecutive year, NYK has been recognized in the large enterprise category of the Certified Health and Productivity...
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Hempel joins IMO public-private partnership to help prevent biofouling on ships’ hulls

Hempel joins the International Maritime Organization (IMO’s) Global Industry Alliance (GIA) for Marine Biosafety to work with industry to support...
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“Coexistence is essential” as DNV report shows demand for ocean space will grow 5-fold by 2050

The collaboration between ocean industries will need to intensify for the rapid buildout of offshore wind and aquaculture to coexist...
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NYK and FueLNG Achieve First LNG Bunkering of PCTC in Singapore

Nippon Yusen Kabushiki Kaisha (NYK), a leading Japanese shipping company, and FueLNG, a joint venture between Keppel Offshore & Marine...
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FBX Index Fell 12% During February, Lowest Since August 2020

The Freightos Baltic Global index fell 12% to $1,946/FEU in February to a level last seen in August 2020, as...
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Record soybean harvest predicted despite Brazilian export decline of 31%

“Brazil’s soybean harvest is behind schedule due to heavy rain with exports down 31% y/y in the first two months...
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