Cruise Operators Face Higher Costs as Oil Prices Rise
Cruise operators face choppy waters as rising oil prices lift fuel costs, with analysts warning Carnival Corp could take the biggest hit to its 2026 profit as it is the only major U.S. cruise line that does not hedge fuel.Oil prices have risen more than 35% since the beginning of the conflict in Iran, as attacks on oil and transport facilities across the Middle East and disruptions to energy flowsâŠ
Indian LPG Sales Trickle Due to Hormuz Shipping Disruptions
Indian state fuel retailers' sale of liquefied petroleum gas (LPG) slowed in the first half of March, preliminary data showed, as the country reels from its worst LPG crisis in decades due to shipping disruption in the Strait of Hormuz.India buys about 90% of its imports of LPG - mainly used for cooking - from the Middle East and its supplies have been disrupted after traffic through the strait ground to a near standstill in the wake of the U.S.-Israeli war on Iran.State fuel retailers Indian Oi
ADNOC Suspends Crude Loading at Fujairah Port After Drone Attack
Abu Dhabi state oil giant ADNOC has suspended crude loading operations at the United Arab Emirates port of Fujairah, a source familiar with the situation told Reuters on Monday, after a drone attack triggered fires at the key export terminal.Some loading at the hub restarted, two other sources said. Two of the three single point moorings, where tankers connect to load, were operational, one source said.ADNOC's crude terminals were targeted in the attackâŠ
Countries Respond as Trump Calls for Global Support in Securing Strait of Hormuz
U.S. President Donald Trump called on allies over the weekend to help secure the Strait of Hormuz as Iranian forces continue attacks on the vital waterway amid the U.S.-Israeli war on Iran, now in its third week.Trump said his administration has already contacted seven countries, but declined to identify them. In an earlier social media post, he said that he hoped China, France, Japan, South KoreaâŠ
Stolt-Nielsen, NYK Line Form JV in Avenir LNG
Stolt-Nielsen Limited and Nippon Yusen Kabushiki Kaisha announced that, through Stolt-Nielsenâs subsidiary Stolt-Nielsen Gas Ltd., Stolt-Nielsen has entered into a share purchase agreement to sell 50% of Avenir LNG Limited to NYK Line. Avenir LNG was founded in 2017 and has grown into a leading player in the liquefied natural gas (LNG) bunkering sector, operating a global fleet of LNG bunker vessels.With this partnershipâŠ
ClassNK SOF for âSeawingâ Automated Kite System
ClassNK confirmed the validity of the performance analysis evaluation for the automated kite system âSeawingâ, which is being developed by Kawasaki Kisen Kaisha, Ltd. and its French subsidiary OCEANICWING S.A.S., and issued a Statement of Fact (SOF). In response to environmental regulations and as a solution for reducing fuel costs, the implementation and installation planning of wind-assisted propulsion systems (WAPS), including kite systems, have been progressing.
German Maritime Industry Calls for Political Action Plan
Germanyâs maritime sector is poised for significant growth, but industry leaders warn that clearer political priorities and stronger policy support are needed to fully capitalize on the opportunity.That was the message delivered jointly by the German Shipbuilding and Ocean Industries Association (VSM) and IG Metall Küste during a press conference in Hamburg on March 16, where both groups called forâŠ
Pilots Association Sounds Alarm on DHS Funding Stalemate
The American Pilotsâ Association (APA) is concerned that the ongoing Department of Homeland Security (DHS) funding lapse is negatively impacting the ability of the U.S. Coast Guard (USCG) to carry out critical navigation safety and mariner credentialing services. âAPA and our member pilot associations value the important navigation safety and credentialing services the USCG provides.â said APA President Captain Jorge Viso.
Denmark Pushes for EU-Wide Response on Strait of Hormuz
Europe should keep an open mind on helping to ensure freedom of navigation for ship traffic in the Strait of Hormuz even if the continent did not support the U.S.-Israeli decision to go to war with Iran, Denmark's foreign minister said on Monday.President Donald Trump said on Sunday his administration was talking to several countries about protecting ships in the waterway that Tehran has mostly blocked to oil tanker traffic."We must face the world as it isâŠ
Reopening Energy Markets is in Iran's Hands, for now
When Saudi Aramco told its oil buyers in a letter this week that it had no clear idea which port it would use for April exports, it laid bare a new reality: Iran, not the United States, holds the key to reopening the global energy market.The letter, sent to Saudi oil buyers around the world, said they might receive oil from the Red Sea, but they might still get it from the Gulf."I might as well call Iran to find out when this war ends so I can get my oilâŠ
Orlen Takes Delivery of Two LNG Carriers
The Orlen Group is expanding its capacity to transport LNG with the naming ceremony for two 174,000 cubic meter LNG carriers from Hanwha Ocean shipyard. The vessels will enhance the stability and flexibility of gas deliveries to Poland and strengthen the regionâs energy security. Each new ship can deliver enough gas in a single voyage to supply as many as two million households.âOrlen is investing continuously in the energy security and independence of both Poland and the wider region.
Heavy Lift Ship Delivers Heaviest Woodfibre LNG Facility Module
Woodfibre LNG has welcomed one of the most important modules of its facility to site as the liquefaction module arrived aboard the specialized heavy cargo vessel Red Zed 1. The liquefaction module is the 15th module to arrive at site as the project moves closer to construction completion.Weighing 10,847 metric tonnes, it is the heaviest module to become part of the future Woodfibre LNG facility. Occupying a footprint roughly the size of a football fieldâŠ
Kent Awarded FEED Contract for Prinos Carbon Storage Project
Kent has been selected by EnEarth, to perform the front end engineering design (FEED) for the Prinos COâ Storage Project in Northern Greece.Kent will develop the FEED design for the new COâ handling and storage facility, which will receive, store, transport, and inject COâ into the Prinos aquifer underlying the existing reservoir.The Prinos CO2 Storage Project is the first of its kind that has been awarded an environmental permit and a storage permit in the MediterraneanâŠ
Singapore Bunker Sales Eased in February
Marine fuel sales in Singapore softened in February after two months of strong seasonal volumes, according to the latest data from the Maritime and Port Authority of Singapore (MPA), while trade sources said demand has strengthened in the first half of March. Volumes in Singapore, the world's largest refuelling hub, totalled 4.67 million metric tons in February, down 10.6% from prior month, but climbedâŠ
Trump Demands Other Countries Help Secure Strait of Hormuz
President Donald Trump said on Sunday his administration is talking to seven countries about helping to secure the Strait of Hormuz amid the U.S.-Israeli war on Iran, calling on them to help protect ships in the vital waterway that Tehran has mostly blocked to oil tanker traffic.With the conflict creating turmoil across the Middle East and shaking up global energy markets in its third week, Trump insistedâŠ
Additional LNG Exports from Plaquemines LNG Approved
U.S. Secretary of Energy Chris Wright has authorized an immediate 13% increase in exports at Venture Globalâs Plaquemines LNG Terminal in Louisiana.The authorization allows additional exports of up to 0.45 billion cubic feet per day (Bcf/d) of U.S. natural gas as LNG to non-free trade agreement (FTA) countries from the Plaquemines LNG Terminal.Plaquemines LNG is now authorized to immediately exportâŠ
BP Wins US Approval for Kaskida Project
British energy major BP has received approval from the Trump administration to advance its Kaskida project in the Gulf of Mexico, a company spokesperson told Reuters in an emailed statement late on Friday.The $5 billion investment would unlock 10 billion barrels of resources that BP has discovered in the Paleogene fields of the U.S. Gulf, the spokesperson said.The U.S. Department of the Interior's approval of Kaskida follows a year-long review of the company's development planâŠ
EU to Discuss Bolstering Middle East Naval Mission
European Union foreign ministers will discuss on Monday bolstering a small naval mission in the Middle East but are not expected to decide on extending its role to the choked-off Strait of Hormuz, diplomats and officials say.The EUâs Aspides mission was established in 2024 to protect ships from attacks by Yemenâs Houthi rebel group in the Red Sea. It currently has an Italian and a Greek ship underâŠ
Revolution Wind Now Delivering Power to New England
Revolution Wind, a 50/50 joint venture between Global Infrastructure Partnersâ Skyborn Renewables and Ørsted, started delivering power to New England's electric grid on March 14.Revolution Wind, a 704MW offshore wind energy project, is expected to supply enough electricity to power more than 350,000 homes and businesses. The project will deliver power under fixed-price, 20-year agreements with energy utilities in Rhode Island and Connecticut.At a time of rising electricity demandâŠ
EU Doesnât See Risks to Oil and Gas Supply Yet
In separate ad hoc meetings of the Gas Coordination Group and the Oil Coordination Group held on March 12, the Commission and EU countries assessed the situation concerning the EUâs gas and oil security of supply in view of the continued disruptions in the Middle East. During the exchange, EU countries confirmed that they do not observe any security of supply risks at the moment. Oil stocks remain at a high levelâŠ
