U.S. manufacturers reported business activity declined for the second month running in December and the sector appears to be on the leading edge of a recession. The slowdown in manufacturing and freight has already dampened consumption of diesel and ot...
Read more
Germany’s HHLA, China’s Cosco Close on Hamburg Port Deal
German logistics firm HHLA and Cosco are close to finalizing an agreement for the Chinese shipping giant to take a stake in a terminal at Hamburg's port, HHLA said on Friday."We can confirm that...
Read more
China Eases Australian Coal Ban
The increasing need to secure energy supplies after easing COVID-19 restrictions has pushed China to gradually resume Australian coal imports and urge domestic miners to boost their already record output.The lifting of the unofficial ban on Australian ...
Read more
US Warship Sails Through Sensitive Taiwan Strait; China Angered
A U.S. warship sailed through the sensitive Taiwan Strait on Thursday, part of what the U.S. military calls routine activity but which has riled China.In recent years, U.S. warships, and on occasion those from allied nations such as Britain and Canada…
Read more
What’s in Store for US Offshore Wind?
January brings with it the expectation that the United States' first commercial wind farm in federal waters will start generating power by year end, the promise that permitting for close to 5 gigawatts (GW) of projects will be finalized within…
Read more
Lack of Dredging Could Delay Chevron’s Venezuela Oil Exports
A shipping channel snafu is slowing Chevron Corp’s efforts to load tankers at one of its four Venezuelan joint ventures and bring heavy crude to the United States, three people familiar with the matter said on Wednesday.Washington in November authorize...
Read more
Norway Gas Exports to Stay at Record Levels for 4-5 Years
Norway plans to export around 122 billion cubic metres (bcm) of natural gas in 2023, in line with last year’s level, and to maintain this volume for the next four or five years, Minister of Petroleum and Energy Terje Aasland said on Thursday.The output...
Read more
Eagle Bulk Buys an Ultramax Bulk Carrier for $24.3 Million
U.S.-based shipowner Eagle Bulk Shipping announced it has expanded its fleet with the purchase of a secondhand Ultramax bulk carrier for $24.3 million.The vessel, which was constructed at China's Chengxi Shipyard in 2015, will be renamed Gibraltar…
Read more
CMA CGM Completes Russia Exit
French-based shipping group CMA CGM has completed its withdrawal from the Russian market by divesting stakes in terminals through an asset swap, the company said.“With this finalized transaction and the decision to suspend all new bookings to and from ...
Read more
Sea Rescue Charities Say New Italian Rules Will Cause Migrant Deaths
Sea rescue charities on Thursday condemned tough anti-immigration measures recently introduced by the Italian government, saying the new rules will cause ever more deaths in the Mediterranean.The decree, which was introduced last week, says…
Read more