Low Water Levels in European Rivers Warn of Economic Impact
Record low water levels in Europe's major rivers have curtailed the transport of goods, reduced electricity output and shrunk company earnings, stoking fears about the economic impact of searing heat and erratic rainfall.As Europe experiences the fastest warming of any continent and record-breaking heatwaves, drought has exposed the need to reconsider business practices.From the bustling port of Rotterdam to hydropower plants in Serbia…
Russian Grain Lobby Warns Black Sea Attacks Threaten Grain Security
Russia's main grain lobby group warned on Friday that Ukrainian drone attacks on Russian ships and ports could shut down grain exports via the Black Sea in the near future, pushing up prices and causing hunger in Africa and the Middle East.Russia, the world's largest wheat exporter, and Ukraine, also a major agricultural exporter, have been attacking each other's agricultural export facilities and…
China Refuses Philippine "Baselines" Around Disputed Scarborough Shoal
China's foreign ministry on Friday said it firmly opposed and would never accept the Philippines' establishment of "baselines" around Scarborough Shoal in the South China Sea, calling the move "illegal and invalid" and a serious violation of China's territorial sovereignty.Scarborough Shoal, known in China as Huangyan Dao and in the Philippines as Bajo de Masinloc, is claimed by both countries.Manila…
Crude Oil Spills From Shadow Fleet Tanker Off Oman
A sanctions-hit tanker is leaking oil off the coast of Oman and the spill has spread in recent days, increasing concern about possible environmental damage to coastal areas, according to an analysis of satellite imagery and shipping specialists.The Caroline Bezengi took Russian oil on board at the Black Sea port of Novorossiysk before leaving for its most recent voyage, ship tracking data shows.It first reported difficulties on June 8 off the southern Yemeni port of Mukalla…
France Selects Five Ports for $300M Floating Wind Investment
France has selected five ports to receive nearly $300 million (€260 million) in funding under the France 2030 investment program to support infrastructure upgrades for the country's floating offshore wind industry.The projects, located at the ports of Cherbourg, Brest, Nantes-Saint-Nazaire, Port-la-Nouvelle and Marseille-Fos, were chosen under a 2024 call for projects aimed at adapting French port infrastructure for the manufacture…
Petrobras Extends Contracts for DOF-TechnipFMC PLSV Duo
DOF Group has secured long-term contract extensions with Petrobras for the Skandi Buzios and Skandi Recife pipelay support vessels (PLSVs), extending both contracts into January 2028.Following negotiations with Petrobras, Skandi Buzios was awarded a 516-day extension, while Skandi Recife secured a 550-day extension, DOF said.The contracts had previously been due to expire in the third quarter of 2026.Both vessels are owned by a joint venture between DOF and TechnipFMC…
Two Oil Supertankers Exit Hormuz as Traffic Remains Sparse
The two very large crude carriers (VLCC) carrying oil loaded from the Gulf exited the Strait of Hormuz on Friday, with traffic through the waterway remaining thin, according to Kpler ship-tracking data.The Spain B vessel is carrying crude oil loaded from the Saudi Arabian port of Ras Tanura on July 12, and is currently anchored off Fujairah in the United Arab Emirates. Meanwhile Noble, which loaded Iraqi Basrah crude on July 25…
