Guyana Passes Bill Holding Parties Liable for Oil Spills
New Law Requires Financial Assurance for Offshore Oil Operations.
Non-Compliant Oil Firms Face License Suspension in Guyana.
Exxon-Led Consortium Drives Guyana’s Oil Boom...
PIL Quadruples Profits in 2024 Amidst Demand Surge and Rising Freight Rates
Singapore-based container shipping company Pacific International Lines (PIL) has announced a significant increase in its earnings for the fiscal year 2024, more than quadrupling...
US-China Tariff Truce Spurs Shippers to Frontload, Pushing Transpacific Rates Up
The "delta between market average and mid-high" indicates that shippers negotiating Transpacific rates after the recent U.S.-China tariff reduction are paying higher prices, closer...
Aging Global Tanker Fleet Drives Concerns Over Utilization
The global tanker fleet is undergoing a significant aging process, a phenomenon driven by a confluence of factors that are deeply impacting its utilization...
Economic Headwinds and EVs Curb Oil Demand, Says IEA’s Latest Market Report
The International Energy Agency's (IEA) Oil Market Report (OMR) is widely recognized as one of the most reliable and up-to-date sources of information, forecasts,...
Port of Antwerp-Bruges Unveils Volta 1, Europe’s First Fully Electric Tugboat
The Port of Antwerp-Bruges has announced the official launch of the Volta 1, which marks a significant milestone as Europe's first fully electric tugboat....
IMCA: ‘Line of Fire’ Still Leads Cause of Lost-Time Injuries
The International Marine Contractors Association (IMCA) released its annual Safety Statistics Report on May 20, 2025. The report highlights that "line of fire" incidents...
Panama Maritime Authority and ITF Deepen Collaboration to Safeguard Seafarers’ Rights
The AMP recovered $8.5 million in unpaid wages for seafarers in 2024—a 52.7% increase year‑on‑year.
271 inquiries and 312 labour complaints were addressed, resulting...
CMA CGM Takes Delivery of Methanol-Powered 13,000 TEU Container Ship
CMA CGM Argon, a 13,000 TEU vessel powered by methanol, was delivered by HD Hyundai Samho on May 15.
The new ship cuts SOₓ emissions by 99%,...
MAN’s Next-Generation Dual-Fuel GenSet: Cleaner Power with Future-Fuel Readiness
MAN Energy Solutions’ new dual-fuel GenSet engine delivers up to 16% higher output and significantly lower emissions compared to competitors.
Equipped with adaptive...
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