According to its latest market outlook, Wood Mackenzie projects that Brent crude oil prices will average $73.00 per barrel (bbl) in 2025. The forecast considers geopolitical and economic factors, including potential peace talks between Russia and the U...
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Freight Rates Frustrate Recyclers
A recent and ongoing uptick in freight rates across many sectors (especially dry, as wet rates have been performing far admirably in comparison) has resumed depriving global ship recycling markets of tonnage over the last couple of weeks, reports…
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Hundreds Arrested Over Illegal Wildlife and Forestry Trade
Nearly 20,000 live animals, all endangered or protected species, have been seized in a global operation against wildlife and forestry trafficking networks, jointly coordinated by INTERPOL and the World Customs Organization (WCO).Operation Thunder…
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Incorrect Valve Led to Deadly Engine Room Fire
The installation of an incorrect valve in a pipe to a diesel oil tank led to a fatal fire aboard a cargo vessel docked in LaPorte, Texas, an National Transportation Safety Board shows.On Jan. 8, 2024, a fire broke out in the engine room aboard the carg...
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Bahrain: ASRY and Noatum Maritime Form JV
ASRY has formed a joint venture (JV) with Noatum Maritime, part of AD Ports Group’s Maritime & Shipping Cluster, offering a diversified portfolio of maritime solutions for the provision of marine services in Bahrain.The collaboration aims to…
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Interim Guidelines Agreed for Training Seafarers on Green Ships
The IMO’s Sub-Committee on Human Element, Training and Watchkeeping (HTW) has agreed on draft interim generic guidelines for training seafarers working on ships powered by alternative fuels and new technologies. These draft guidelines will be…
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IMO Working Group Fails to Finalize GHG Emissions Pricing Scheme
International efforts to curb GHG emissions from shipping took a step forward as the IMO's Intersessional Working Group on Reduction of GHG Emissions from Ships (ISWG-GHG 18) concluded its latest round of discussions on Friday.The IMO's 2023…
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Chinese Drills Upset Australia and New Zealand
New Zealand said the Chinese navy conducted a live-fire exercise in international waters near the Pacific nation on Saturday, a day after it held a similar drill between Australia and New Zealand that forced airlines to divert flights."Reporting…
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Russia Orders Divers to Inspect Ships After Tanker Blasts
Russia has ordered divers to inspect ships in its ports, a government letter seen by Reuters shows, after suspected attacks on four oil tankers that visited in recent weeks.At the same time the Russian navy will help protect from the threat of drones a...
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Bulk Carrier Sustains Damage to Ballast Tank
A Liberia-flagged cargo ship carrying corn from a Russian port to Turkey is trying to stop water leaking in after sustaining a crack in the Sea of Azov earlier this week, Russia's port agency said.The vessel, Pavel Grabovskiy, was loaded with 2,939 ton...
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