Saudi Arabia Says It’s Seeking to Avert War, But Ball in Iran’s Court

By Marwa Rashad and Stephen Kalin RIYADH, May 19 (Reuters) – Saudi Arabia said on Sunday it wanted to avert war in the region but stood ready to respond with “all strength” following last week’s attacks on Saudi oil assets, telling Iran that the ball was now in its court. Riyadh has accused Tehran of […]

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Mississippi River Barge Shipping Resumes After Floods

By Karl Plume and Rod Nickel May 17 (Reuters) – The upper Mississippi River fully reopened to boat and barge traffic this week for the first time since November as shippers scrambled to move a backlog of overdue fertilizer barges to farmers racing to sow corn before the end of the month. Some fertilizer shipments […]

IMO Agrees on Stricter Efficiency Targets for Some Ships

By Nina Chestney LONDON, May 17 (Reuters) – The International Maritime Organization (IMO) on Friday agreed stricter energy efficiency targets for certain types of ships in an effort to speed up action to cut the sector’s emissions. The IMO’s Marine Environment Protection Committee has been meeting in London this week to discuss tougher rules on […]

Grimaldi Group Calls for Tighter Cargo Controls After Fires

Italian shipping company Grimaldi Group has issued a statement addressing this week’s fire on board the Grimaldi Lines vehicle carrier Grande Europa in the Mediterranean, calling for more stringent controls and regulations following a spate of recent incidents in which cargo caught fire. The fire on board the roll-on/roll-off vehicle carrier Grande Europa started on […]

Small Shift in LNG Market May Bring Big Boost for Shipowners

By Anna Shiryaevskaya (Bloomberg) — With so much cheap liquefied natural gas around, traders are again looking at tankers to store the fuel in the hope of better prices. A long-established practice in oil trading, the complexity and cost of keeping natural gas in liquid form on ships for extended periods meant it wasn’t widely […]

London Marine Insurers Widen Middle East Threat Zone

LONDON, May 17 (Reuters) – London’s marine insurance market has extended the list of waters deemed as high risk to include Oman, the United Arab Emirates and the Gulf after ship attacks off Fujairah, officials said on Friday. The London insurance market’s Joint War Committee issued a statement saying the additions detail areas of perceived […]

Insurer Says Iran’s Guards Likely Organized Tanker Attacks

By Jonathan Saul and Gwladys Fouche LONDON/OSLO, May 17 (Reuters) – Iran’s elite Revolutionary Guards (IRGC) are “highly likely” to have facilitated attacks last Sunday on four tankers including two Saudi ships off Fujairah in the United Arab Emirates, according to a Norwegian insurers’ report seen by Reuters. The UAE, Saudi Arabia and Norway are […]