The Future of Floating Storage Amid COVID-19 and Global Slump
Six-month charters being signed are primarily being done by oil industry players.
Storage deals have been inked primarily for VLCCs that hold 2 million barrels of crude oil.
There is also a high...
Refiners Step-up Production as Fuel Demand Increases
Indian refiners are scaling up crude processing as local fuel demand increases.
Indian Oil Corp has raised crude processing at its plants to 60% capacity.
It aims to reach 80% by the end...
CMA CGM First Shipping Company To Get State Backed COVID19 Loan!
In a major development, CMA CGM has announced that they have secured a €1.05bn loan from BNP Paribas, HSBC and Société Générale, backed by the French government, reports Gavin Van Marle in an article...
U.S. Plans To Legalize Mining on The Moon
American administration plans to mine the moon for valuable regolith.
Nicknamed NASA’s Artemis program U.S.-led international agreement about using the moon for materials.
Artemis Accords are meant to help cement both America’s plans...
Rates Remain Lower As Asia-Europe Freight Fixtures Are Cancelled!
Gasoil, jet fuel spot fixtures for 0.5 million mt cancelled.
Over 50 tankers stuck due to discharge delays in Europe.
Refineries slashing outputs and rescheduling exports to pick up tonnage.
Oil export pressure...
Freight Rates Decline by 61% Due To Supply Drop and Low Demand
A drop in cargo supply has pushed clean tanker freight down to 61%.
Refineries have slowed throughput and oil product demand is low.
Arbitrage opportunity for USGC in Northwest Europe closed at minus...
Baltic Exchange Unveils GOPEX Assessment for LNG and LPG Tankers
Baltic Exchange has added quarterly assessments (GOPEX).
The GOPEX will assess the cost of operating LNG and LPG tankers.
Data will be shared by leading independent third-party ship management companies.
Adding OPEX indices...
COVID-19 Symptoms: How It Affects Your Body?
Doctors have discovered that COVID-19 has a range of clinical manifestations.
Life-threatening clots in the arteries of the lung known as pulmonary emboli.
Dysfunction in the lining of blood vessels, bleeding and clotting...
Sharpest-Ever Images of Jupiter from a Ground-Based Telescope!
Some of the highest resolution images of Jupiter ever obtained from the ground have been shot from the Gemini North telescope on Hawaii’s Maunakea volcano.
There is also something new about Jupiter's “Great Red Spot.”
...
Remote Audits Conducted To Continue Operations During Covid-19 Pandemic!
Thome Group and DNV GL conduct remote audits during Covid-19 pandemic, in efforts to continue their operations, reports Safety4Sea.
Remote audits
Thome Group in collaboration with DNV GL, conducted an online audit using video conferencing software...