Chinese coking coal futures extended losses to hit their lowest in four weeks on Wednesday, as traders kept an eye on a batch of Australian coal cargoes expected to arrive soon in top steel producer China.Rising Chinese steel inventories also weighed o...
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Analysis: Container Shipping and Falling U.S. Retail Sales
“Despite falling 1.1% m/m in both November and December, US retail sales volumes remain 13% above 2019 levels and 6% higher than the pre-COVID trend. However, sales volumes could return to trend during 2023 and thereby pose a risk for Asia to North Ame...
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As Ice Recedes, Italian Ship Makes Record Journey into Antarctic
An Italian ice-breaker carrying scientists researching in the Antarctic has sailed further south than any ship has done before, the organizers of the voyage said on Tuesday, a further sign of how ice is retreating around the poles.The Laura…
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UK Navy Buys Mine-hunting ‘Mother Ship’
A specialist ship purchased by the U.K. Royal Navy to support mine-hunting operations has arrived in Plymouth.When deployed, the vessel will be based at Naval Base Clyde and used as a mother ship tp support the safeguarding of U.K. waters from the thre...
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Irish Ferries Taps Armada for Hull Air Lubrication System
Armada Technologies announced that Irish Ferries has contracted for a feasibility study and integration engineering for the Armada ‘passive air lubrication system’ (PALS) on board its RoPax cruise ferry W.B. Yeats.Armada’s PALS is a second-generation…...
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Western Tankers Ramp Up Russian Oil Shipments
Western oil tankers ramped up their shipments of Russian crude in January as prices for Moscow's flagship Urals grade held below an international price cap, according to market sources and Eikon data.The Group of Seven nations (G7), Australia…
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Exxon Banks Record $56B Profit in ’22
Exxon Mobil Corp posted a $56 billion net profit for 2022, the company said on Tuesday, taking home about $6.3 million per hour last year, and setting not only a company record but a historic high for the Western oil industry. Oil majors are…
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Offshore Wind: Floating Wind is the Future
$3 billion forecast to be invested in new anchor handlers to meet floating wind demand.Floating wind is an emerging technology. Currently being tested in small scale demonstration and pilot projects, global floating wind commissioned capacity at the en...
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Greensea Launches OPENSEA Edge
Designed for military use but now available commercially, OPENSEA Edge is designed to be a modular edge computing module with perception support for autonomous underwater robots based on Greensea’s OPENSEA open architecture software platform…
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Q&A: Ballast Water Management Market Matures
Since the ballast water management system discussion started nearly two decades ago, a clear concern was the ability to fit new equipment on existing ships, placing a strain on both space and power. Last month we caught up with a few key suppliers…
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