Shipping-Fuel Rule Change Cuts Demand for Canadian Oil

As if pipeline bottlenecks weren’t enough, Canadian heavy oil producers are facing a new barrier to marketing their crude. New rules limiting the amount of sulfur allowed in shipping fuel is expected to cut demand for both high-sulfur fuel oil and the sour crude that yields it. In Canada, that could extend — or worsen
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Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Hudson Shipping Lines Incorporated for one of its Panamax dry bulk vessels, the m/v Protefs. The gross charter
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NEW DELHI: Government’s relaxing of norms for transshipment has not only helped India arrest a sizeable chunk of its container cargo going to ports like Colombo, Singapore, and Jebel Ali but also forced a few foreign ports to cut rates, according to a top official. India has been trying hard to arrest diversion of container
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In keeping with its continuous upgradation of infrastructure, the J. M. Baxi Group’s Visakha Container Terminal (VCT) – “The Ideal Gateway on the East Coast of India”, recently commissioned 2 Post-Panamax Quay Cranes and 4 Rubber Tyred Gantry Cranes (RTGCs) valued at Rs 152 crore. The inauguration of the equipment was done by Mr Nitin
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Great Eastern Shipping Company (GE Shipping) on Friday reported a consolidated net loss of Rs 2.45 billion during the quarter ended June 30, 2018. The company had posted a net profit of Rs 1.03 billion during the same period a year ago, it said in a BSE filing. Total income of the company during the
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Newport Shipping has inked cooperation agreements with several marine equipment suppliers and service companies as part of the London-headquartered company’s commitment to providing shipowners with quality turnkey shiprepair and retrofit solutions across its partner shipyards. Recent agreements with hatch cover specialist Navitech, machinery specialist IngeJov, and ShipParts.com for turnkey spares supply, allows Newport Shipping to
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A.P. Moller – Maersk and IBM have created TradeLens, a solution jointly developed by the two companies to apply blockchain to the world’s global supply chain. This follows the January announcement when the duo unveiled the collaboration aimed at offering a global trade digitization platform by using blockchain technology. As explained, the new blockchain-enabled shipping solution
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A collision incident has been reported to the Directorate-General of Shipping, under the Ministry of Shipping, involving a fishing boat OCEANIC, registered in Kerala, and an unknown merchant vessel. The date, time and position of the casualty were reported as August 7, 2018, 03:30 am (IST) and 10 deg. 24 mins N, 075 deg. 38
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The Ministry of Shipping called for a brainstorming session on promoting transhipment in India with key stakeholders in Mumbai on August 1, 2018. The meeting was chaired by the Chairman of Indian Ports Association and saw participation from representatives of DG Shipping, Customs and the Port Trusts of JNPT Mumbai, VOCPT Tuticorin, VPT (Vizag) and
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For the first time ever, Shipping Corporation of India (SCI) deployed its own container vessel at the eastern ports of Haldia and Kolkata by docking her flagship vessel m.v. Lal Bahadur Shastri at Haldiaon July 20, 2018. The vessel, of LOA 188.7 m, breadth 28.4 m, DWT 28,803 MT with 1,869 TEUs capacity, is one
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