Covid-19 is destroying the market for tankers that deliver about a fifth of the world’s crude oil. The result is likely to be booming trade on the beaches of Bangladesh, India and Pakistan, where obsolete ships go to get blow-torched and sold for scrap.
Covid-19 is destroying the market for tankers that deliver about a fifth of the world’s crude oil. The result is likely to be booming trade on the beaches of Bangladesh, India and Pakistan, where obsolete ships go to get blow-torched and sold for scrap.
Last week, the 1,200-foot vessels plying the industry’s busiest trade route — from the Middle East to Asia — effectively had to subsidize the delivery of cargoes because of how
Saudi Arabia’s oil production cuts have hit the tanker market so hard that owners of the biggest vessels are effectively subsidizing cargo deliveries on the industry’s main trade route.
Supertankers delivering 2-million-barrel shipments of the kingdom’s oil to China are losing $736 a day for the privilege, according to data from the Baltic Exchange in London on Tuesday. While owners might, in practice, be able to mitigate such losses by ordering captains to sail the vessels slower, the reality is that some ships are losing money on Middle East-to-Asia deliveries, according to
The U.S. imposed on Tuesday sanctions on the Russian pipe-laying vessel that was expected to complete the construction of the gas pipeline Nord Stream 2, while several Western companies are said to have abandoned links to the project for fear of sanctions.
The final stretch of the construction of the controversial pipeline now looks even more uncertain, and even Russian gas giant Gazprom has warned investors that the Nord Stream 2 project could be suspended or entirely discontinued due to extraordinary circumstances, including “political pressure.”
The U.S. Department of State slapped sanctions on Tuesday on the Russia-based entity KVT-RUS and identified the pipe-laying vessel FORTUNA it owns as blocked property.
Indonesia incauta un barco petrolero iraní y otro panameño sospechosos por sospecha de traslado ilegal de petróleo en aguas de su país
Las autoridades indonesias incautaron el domingo un barco petrolero iraní y otro panameño sospechosos de llevar a cabo el traslado ilegal de petróleo en aguas de su país, informó la Agencia de Seguridad Marítima.
Los petroleros — el MT Horse con bandera iraní y el MT Frea con bandera panameña — fueron incautados en aguas en la costa de la provincia Borneo Occidental de Indonesia, según Wisnu Pramadita, vocero de la agencia.
Se sospecha que los petroleros han cometido varias infracciones, como no exhibir las banderas nacionales, desactivar sus sistemas de identificación, atraco ilegal, así como el traslado ilegal de combustible entre buques y derramar petróleo, agregó Pramadita.
La televisión iraní reconoció que el petrolero fue incautado, citando autoridades indonesias. El reporte no dio más detalles.
DFDS and its partners have applied for EU support for development of a ferry powered by electricity from a hydrogen fuel cell which only emits water.
Green hydrogen is to be produced by a projected offshore wind energy-powered electrolyser plant in Greater Copenhagen.
A group of companies have partnered up to develop a 100% hydrogen powered ferry for DFDS’ Oslo – Frederikshavn – Copenhagen route.
The ferry will be powered by electricity from a hydrogen fuel cell system that emits only water and can produce up to 23 MW to propel the ferry.
“The largest fuel cell systems today produce only 1-5 MW, and the development of such large-scale fuel cell installations for an electric ferry is a monumental task. We can