Energy Secretary Chris Wright expects to extend the Jones Act waiver, citing its success in lowering energy prices in California and the East Coast.
Mediterranean Shipping Co., the world’s largest ocean container carrier, has acquired joint ownership stake in a fleet of tankers.
Maersk’s CEO said the closure of the Strait of Hormuz has effectively trapped 10 of the line’s ships in the Persian Gulf.
Container line CMA CGM has suspended all bookings to the Middle East as Iran attacked crude oil facilities and tanker traffic in the Persian Gulf.
Tanker stocks rose as expected in 2023, container shipping shares surprised to the upside, and dry bulk stocks lagged the pack.
Specialty trailer equipment got a boost in October as overall orders rose, but dry and refrigerated vans didn’t keep pace.
The era of rapid Chinese growth and large-scale government intervention is over, says China Beige Book CEO Leland Miller.
Tanker giant Frontline is poised to dramatically expand its fleet, while Euronav is on a path to privatization.
Shipowners have invested billions in the LNG fuel option in the belief that it will benefit regulatory compliance and the environment.
Tanker shipping sanctions compliance is getting a lot more complicated as the price of Russian crude oil rises.
Large liquefied petroleum gas tankers are riding high on rising U.S. exports and higher Chinese import demand.
Three laid-up Mission tankers were enlisted to help get a man on the moon.
Global energy trades face even more tumult ahead. “This could get crazy,” says Scorpio Tankers’ Robert Bugbee.
The “shadow fleet” is not large enough to save Russian oil exports from Western sanctions, according to multiple analysts.
If the U.S. curbed gasoline and diesel exports, tankers would sail longer distances to replace lost volumes — a plus for tanker earnings.
Just two supertankers have been ordered in the past 14 months, raising the risk of a future shortfall in oil transport capacity.
It looks increasingly likely that war-driven changes to global crude flows will persist for an extended period.
From crude tankers to product carriers to dry cargo ships, the largest vessels are earning less than their smaller counterparts.
Kpler: Russian crude exports in April highest since June 2019
The pain at the pump keeps getting worse. Bad news for consumers. Good news for owners of refined product tankers.
