The jump to record highs in the cost of shipping oil in supertankers is squeezing profit margins for Asian oil refiners, who are heavily dependent on Middle Eastern crude, the International Energy Agency said in a monthly report.Asian oil refiners have faced the highest transportation costs as cargoes are moved through the Strait of Hormuz to secondary tankers for onward delivery, the IEA saidThe freight…
DP World announced the appointment of Jason Varsamidis as Chief Executive Officer and Managing Director of its Asia Pacific region, effective immediately.Jason will lead DP World Asia Pacific’s portfolio of ports and terminals and logistics businesses across 22 geographies…
HDR has named Richard Crowther regional maritime director for Europe and the Middle East.A chartered civil engineer with 17 years of experience, Crowther has worked across the full life cycle of port and marine infrastructure, including due diligence…
'During the first two weeks of October, weekly container ship capacity transiting the Suez Canal averaged 753k TEU, according to Clarksons Research, compared with 1,457k TEU during the same period in 2023. Since the Houthi attacks began in the Red Sea…
Construction of OMS Group’s next-generation cable-laying vessel, CS Resilience, has reached a milestone with the laying of its keel at CRIST Shipyard in Gdynia, Poland, on September 17, 2026.The keel laying marks the start of hull assembly for…
Asia LNG Transport (ALT), a joint venture between NYK and MISC Berhad, has signed a long-term time-charter contract with Malaysia LNG for a newbuild liquefied natural gas (LNG) carrier that will transport LNG to Japan.The vessel will be constructed by Hudong-Zhonghua Shipbuilding in China…
Saudi Arabia is looking to expand its pipeline crude export capacity to as much as 10 million barrels per day by repurposing a domestic gas pipeline and investing in its existing East-West network, Energy Minister Prince Abdulaziz bin Salman said on Monday…
Following more than two years of extensive work, the reinforcement of the south quay at the container terminal at the Port of Gothenburg has been completed on schedule and within budget. The Skandia Gateway project will now enter its next major phase…
Windward publishes quarterly intelligence reports tracking developments across global shipping.From the Q3 report:Four navies struck merchant ships, including Iran, Russia, Ukraine, and the United States.Iranian attacks in the Middle East Gulf doubled to 45…
Lloyd’s Register (LR) appointed Hossam Edris as Naval Business Director for the Middle East.Based in Dubai, Edris will lead LR's naval and defence business development activities across the region, working closely with government and industry stakeholders as they modernise fleets…
Russia imported more than 176,000 tons of petroleum products from South Korean ports in July and August, easing the impact of a fuel crisis caused by Ukrainian drone strikes on Russian oil refineries, Ukraine's top sanctions official said on Tuesday…
Liberty Global Logistics (LGL) and Hyundai Glovis signed an Memorandum of Understanding (MoU) to evaluate the feasibility of developing and operating a small modular reactor (SMR)-powered Pure Car and Truck Carrier (PCTC), initially targeting service between the United States and South Korea…
US liquefied natural gas exports rose in September as stronger European demand lifted prices and encouraged producers to maximize output despite maintenance outages at one export facility.Berkshire Hathaway Energy said in September it was shutting…
Port of Albany-Rensselaer, NY CEO Richard J. Hendrick was unanimously elected Chair of the Board of Directors of the American Association of Port Authorities (AAPA) at its Annual Convention in New Orleans. AAPA represents more than 130 public port authorities in the U…
Construction begins on Wednesday of a $16 billion Kenyan oil refinery aimed at lowering East Africa's fuel costs and saving the region hard currency used to import refined products.Aliko Dangote and Kenyan President William Ruto broke ground on the site…
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