DP World expects freight rates to drop by a further 15% to 20% in 2023 as demand slows, the Dubai-based global logistics company's deputy chief executive and chief financial officer Yuvraj Narayan told Reuters on Monday.Narayan said the first signs of ...
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Electricity Constraints Force Canada’s First LNG Terminal to Delay Renewable Shift
Shell PLC's LNG Canada export project in British Columbia plans to start building its proposed second phase with natural gas-powered turbines and switch to electricity as more renewable power becomes available, a top executive said, a decision…
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ABS Signs On Suez Canal’s Green Program
ABS and the Suez Canal Authority (SCA) signed a Memorandum of Understanding (MoU) to develop a long-term sustainability roadmap and decarbonization strategy for the canal, one of the world’s busiest shipping routes.The MoU will see ABS and SCA…
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Pelagic Partners Adds Secondhand LR Tanker
Pelagic Partners announced it has expanded its tanker fleet. The Cyprus-based investment fund said its Pelagic Yield Fund acquired the Summit Africa, a 73,500 dwt LR tanker built in 2009 at New Times Shipyard in Jingjiang, China. The vessel…
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Iranian Oil Exports End 2022 at a High, Despite No Nuclear Deal
Iranian oil exports hit new highs in the last two months of 2022 and are making a strong start to 2023 despite U.S. sanctions, according to companies that track the flows, on higher shipments to China and Venezuela.Tehran's oil exports have been limite...
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Exxon Set to Order Fifth Guyana FPSO, Sizing up More Blocks
Exxon Mobil Corp. is preparing to approve its fifth oil production project in Guyana and is considering taking additional exploration acreage, the head of its Guyanese operations, Alistair Routledge, told Reuters in an interview. The efforts…
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Guyana’s Oil Exports Double, with Europe Taking Half of Cargoes
Guyana's oil exports jumped 164% last year, boosted by growing output and demand for the newest Latin American oil producer's light sweet crudes, particularly in Europe, where thirsty refiners ramped up imports to replace Russian supplies.Since…
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Jackie Q. Carter to Serve as Director at Port Milwaukee
Milwaukee Mayor Cavalier Johnson has selected Jackie Q. Carter to serve as Municipal Port Director. In this position, Carter will direct commercial and recreational operations at Port Milwaukee, oversee a staff of twenty people, and administer Foreign ...
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Coast Guard Cutter Alex Haley Repairs Completed
The crew of the Coast Guard Cutter Alex Haley returned to homeport at Coast Guard Base Kodiak, Alaska, on Thursday, following an extended seven-month dry dock maintenance period in Seattle.While in dry dock, the crew and contractors successfully…
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Nichols Brothers Boat Builders Hires Roney as Sales, Marketing Director
Peter Roney has been hired to join the executive management team supporting U.S. West Coast shipyards Nichols Brothers Boat Builders and Everett Ship Repair.The news was announced by Shared Ice Services (SIS) is a subsidiary of Ice Cap Holding…
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