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Jet Fuel Comes into Contention for the Product Tanker Market Jet fuel is being imported in larger quantities in Europe, which could help the product tanker market in the next few months. In its latest weekly report, shipbroker Gibson said that “this summer travel season has been marked by widespread flight cancellations, airport chaos and

Platts to launch first carbon-accounted tanker assessments as shipping faces EU emission trading system coverage &P Global Commodity Insights has announced it will launch daily Platts price assessments for freight emissions under the European Union’s Emissions Trading System (ETS). The new assessments will show the cost of carbon dioxide emissions from fuel combustion to transport

G7 to Allow Fossil Fuel Financing If Climate Pledges Kept Group of Seven nations are set to allow some exceptional public financing of overseas fossil-fuel projects to continue provided that the investments are consistent with prior climate-change agreements, according to people familiar with the matter.The final text of the leaders’ statement, due to be published

Natural Gas Production In The Permian Hit Record Highs In 2021 Marketed natural gas production from the Permian Basin in western Texas and eastern New Mexico reached a new annual high of 16.7 billion cubic feet per day (Bcf/d) in 2021, according to the U.S. Energy Information Administration. The EIA stated that the annual marketed

Concordia Maritime looks at converting tankers to boxships From loss-making to record-breaking earnings – can tankers convert from the red to mega profits? One struggling Scandinavian tanker operator is looking at making a sensational exit from the tanker doldrums to cash in on today’s sky high container scene. Concordia Maritime, which was rescued

Decreased Tonnage Supply Could Help the Tanker Market’s Recovery Alimited supply of fresh tonnage could speed up the recovery of the tanker segment, which unlike other parts of shipping, has failed to stage any sort of recovery over the past 18 months. In a recent report, shipbroker Allied said that “the tanker sector

GASUM: LNG is currently the only option to reduce shipping emissions significantly Liquefied natural gas (LNG) is the cleanest marine fuel available. It is the only way for shipping companies to start reducing their emissions today. Gas-powered vessels are a wise investment because it enables switching to an even cleaner fuel like biogas

China redraws seaborne LNG map, looks to America for supplies China has redrawn the map of global seaborne LNG trades this year, dismissing trade tiffs with America, to dramatically boost the overall tonne-mile scenario for LNG carriers, which have hit record spot earnings in excess of $300,000 per day over the past month.

GHG reporting methodology launched for LNG cargoes Pavilion Energy Trading & Supply Pte. Ltd (Pavilion Energy), QatarEnergy, and Chevron U.S.A. Inc (Singapore branch) (Chevron) today announced they have jointly published a quantification and reporting methodology (the SGE Methodology) to produce a statement of greenhouse gas emissions (SGE) for delivered LNG cargoes. This is

Oil Demand Back at 2019 Levels and Set to Rise The head of Vitol Group, the world’s biggest independent oil trader, said global demand has recovered to 2019 pre-pandemic levels and is poised to go even higher early next year. Chief Executive Officer Russell Hardy said demand for oil will exceed 2019 levels