The South African Maritime Safety Authority has issued an urgent warning to vessels east of South Africa to be on the lookout for cargo containers that reportedly fell from a containership off the coast of Durban a week ago. According to SAMSA, a total 13 containers were reportedly lost overboard from the MSC Chloe on 7 August 2018 while it was sailing in the Indian Ocean … [Read more...]
SCF Tanker Loads First LNG Cargo from Yamal LNG’s Second Train
Russian shipping company SCF Group says its ice-class LNG carrier Pskov has loaded the first cargo of LNG from Yamal LNG's second train in the Russian Arctic. The vessel loaded the cargo on August 9th at the Port of Sabetta, home to the Yamal LNG plant, before sailing westward bound for Europe via the Northern Sea Route. Current ice conditions will allow the vessel to … [Read more...]
Clarksons First Half Profit Falls Amid Challenging Trading In Shipping, Offshore Markets
Integrated shipping services firm Clarskson Plc saw its profit drop in the first half of 2018 after a challenging trading environment across the shipping and offshore capital markets. The UK-based firm reported a pre-tax profit of £18 million in H1 2018, down from £21.9 million in H1 2017. Revenue also fell to £152.6 million from £156.8 million in 2017. “The first quarter … [Read more...]
Indian VLCC Suffers Explosion Off Oman
A VLCC belonging to the Shipping Corporation of India suffered an explosion in a cargo tank on Tuesday off the coast of Oman, the company has confirmed. The vessel, named Desh Vaibhav, was underway to Fujairah, UAE when the explosion took place at around 9935 hours, the company said. A stock exchange disclosure said that the fire has been extinguished and the … [Read more...]
IMO’s Low Sulphur Fuel Regs Seen Cutting Demand for Canadian Oil
By Robert Tuttle (Bloomberg) -- 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 -- the biggest … [Read more...]