Qatar pivots to LNG-hungry China in strategy shift – Reuters

Qatar is in talks to make Chinese firms partners in its liquefied natural gas expansion project, the world’s largest, in a shift from the Gulf state’s reliance on western majors for technology and global outreach, industry sources said. Since the...

Demand, rates drive Hapag-Lloyd to $1.45 billion Q1 net profit

Hapag-Lloyd banked a $1.45 billion net profit in the first quarter, blowing past its $1.00 billion full-year 2020 net profit in just three months, with the significant increase in global demand that drove first-quarter earnings expected to sustain momentum through at least the first...

Baltic index falls as capesizes retreat to 2-week low

The Baltic exchange’s main sea freight index fell on Wednesday as capesize rates dipped to a two-week low. The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, fell 115 points, or...

Clean product tanker rates on US bound trade almost doubles after pipeline attack

The closure of the Colonial pipeline which runs from the US Gulf to the US East Coast, has caused a spike in oil product tanker rates on trades to and from the region. Earnings on the Rotterdam to New...

ESG rules, rather than IMO regulations, will nudge shipping to net zero

Decarbonising shipping will require forward-thinking companies to take commercial decisions based on robust analysis of climate-related risks and opportunities driven by rapidly evolving ESG criteria. ‘Climate risk is investment risk’ is a truth now universally acknowledged. First coined by...

China’s tepid ESPO crude demand puts Aframax rates under pressure, but USWC fixtures support

Aframax tanker earnings have been under significant pressure in Asia as China’s private-sector refiners put the brakes on Far East Russian ESPO Blend crude procurement amid maintenance and high inventories, but a surprise surge in demand for the medium...

North Sea subsea cabling consultation

Planned HVDC links between England and Scotland have been deemed ‘essential’ by a recent Ofgem consultation.

Hirtshals Havn prepares for new green future

New facilities and green port development will prepare the Danish Port of Hirtshals for what it is calling its ‘version 2.0’.

Expansion for Italian startup

An Italian startup that is developing efficient marine propulsion has announced a new expansion plan.

Economical pilot boast investment

A new 29ft pilot boat is proving an economical investment for a UK port.