News

Kidnap: Managing your stakeholders
by hellenicshippingnews..
Thursday, May 28, 2020
The scourge of piracy and maritime kidnap is not a new phenomenon, it is its endurance worldwide that causes the most discouragement. In the last year we’ve seen several high-profile, sobering cases and Greek operators have not been immune. With the continued prevalence of these attacks, it’s critical to have strong communications procedures in place. ...

US gasoline imports 40% below 5-year average heading into driving season
by hellenicshippingnews..
Thursday, May 28, 2020
US gasoline imports have dropped well below the 2015-2019 average, despite the kick-off of the peak gasoline season. The US driving season, which ranges from Memorial Day (the last Monday in May) to Labor Day (the first Monday in September), represents the peak season for supplied and imported gasoline in the US. Nonetheless, as we ...

Trade War Cut $1.7 Trillion From U.S. Market Caps, Study Shows
by Bloomberg
Thursday, May 28, 2020
By Eric Martin (Bloomberg) –The U.S. trade war with China cut $1.7 trillion from the market value of listed American firms and will reduce their investment growth rate by almost 2 percentage points by year end, according to a report highlighted by the Federal Reserve Bank of New York. Higher tariffs weakened investment expansion by […]

New Bunker Supplier TFG Marine Made Estimated $4 Million Profit in Q1
by Ship Bunker
Thursday, May 28, 2020

The IMO 2020 transition appears to have led to early profits for the newly-formed company.

Ship Crews Stuck at Sea Are Facing a ‘Humanitarian Crisis’
by Bloomberg
Thursday, May 28, 2020
By Claire Jiao, Ann Koh and Krystal Chia (Bloomberg) — Even as countries try returning to some semblance of pre-pandemic life, ongoing restrictions are wearing thin a crucial human link in the global supply chain. More than 200,000 seafarers stuck on merchant ships carrying everything from medical supplies to grain and oil are at increasing […]

Fujairah Fuel Oil Stocks Lose 9% on Week
by Ship Bunker
Thursday, May 28, 2020

Heavy distillate and residue stocks in Fujairah dropped by 9% to 15.001 million barrels in the week to Monday.

Virus Lockdown Accelerating Shipping’s Push to Go Digital
by Reuters
Thursday, May 28, 2020
COPENHAGEN, May 28 (Reuters) – The coronavirus lockdown has accelerated a digitalisation drive in a global shipping and logistics sector that still routinely delivers many documents by bike messenger in some countries, according to industry leaders. Ports operator DP World said on Thursday it would join shipping company Maersk and other peers in a blockchain […]

Parched Parana River Likely to Hit Argentine Grain Exports Through September
by Mike Schuler
Thursday, May 28, 2020
By Hugh Bronstein and Maximilian Heath BUENOS AIRES, May 28 (Reuters) – Shallow water in Argentina’s Parana River will slow exports from the grains powerhouse and hurt the country’s soy crushing margins at least through September, officials said, as more cargo ships are needed to carry the same amount of commodities. Drought has pushed the […]

China, India Soak Up Oil From Floating Storage as Demand Recovers
by Reuters
Thursday, May 28, 2020
By Shu Zhang and Florence Tan SINGAPORE, May 28 (Reuters) – The volume of crude stored on ships in Asia has come off the peaks seen earlier this month on a recovery in demand in China and India, trade sources and analysts said. A total of 3.4 million tonnes (24.8 million barrels) of crude oil […]

Argentinian Bunker Sales Gained 70% in First Quarter
by Ship Bunker
Thursday, May 28, 2020

Total sales rose to 502,815 mt in the first quarter of 2020, up from 296,320 mt a year earlier.