The United States on Friday will lift sanctions on at least one Dalian unit of Chinese tanker company COSCO that Washington accused of transporting Iranian oil, a U.S. official with knowledge of the matter said.The administration of U.S. President…
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IMO2020: Low Sulfur Fuel Potential Pitfalls
(This is excerpted from Maritime Reporter & Engineering News' January 2020 "The Path to Zero" column.)Are the world’s ships’ engines ready for IMO compliant very low sulfur fuel? That’s a wide open question as ship owners step to the end of the prepara...
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Baltic Index Down for 8th Straight Week
The Baltic Exchange's main sea freight index fell on Friday, with rates for the capesize segment slipping into the negative for the first time ever on lower demand and as the coronavirus outbreak muted activity.The Baltic index, which tracks rates for ...
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China Virus May Delay Scrubber Retrofits
Shipping companies may face delivery delays of vessels fitted with exhaust gas filtering equipment that complies with anti-pollution rules that kicked in this year due to the impact from the virus outbreak in China, shipping sources said on…
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Partners to Expand Pakistan LNG Inport Terminal
Excelerate Energy announced it has agreed with partner Engro Elengy Terminal Ltd. (EETL) to expand the EETL liquefied natural gas (LNG) import terminal in Port Qasim, Pakistan.Under the heads of agreement (HOA), Excelerate will exchange its…
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Bionic jellyfish? Yes, and they are here to help
It may sound more like science fiction than science fact, but researchers have created bionic jellyfish by embedding microelectronics into these ubiquitous marine invertebrates with hopes to deploy them to monitor and explore the world's oceans.
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Norwegian Police Raid Teekay Office Over Waste Export
Norway's national economic crime unit raided the local office of international shipping company Teekay Offshore this week on suspicion of illegally exporting waste, the agency, known as Okokrim, said on Thursday.In recent years, courts in Europe…
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JFLCO Acquires Global Marine Group
British-headquartered specialist provider of submarine cables Global Marine Group (GMG) has been acquired by an investment affiliate of private equity firm J.F. Lehman & Company (JFLCO) for around $250m.With a legacy dating to 1850, GMG owns…
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Bahri Posts 172% Surge in Q4 Net Profit
The National Shipping Company of Saudi Arabia (Bahri) has reported strong financial results for the quarter and the full year ended December 31, 2019, underpinned by an increase in returns of several business units.The transportation and logistics…
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Ørsted Eyes Carbon-Neutrality by 2025
The global leader in offshore wind Ørsted A/S will become carbon neutral by 2025. "This will make Ørsted the first major energy company to reach net-zero emissions in its energy generation - far ahead of science-based decarbonization targets for limit...
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