Reuters SINGAPORE -BHP Group Ltd said on Thursday it completed its first refuelling of a ship with biofuel this month in a trial run that is part of its efforts to reduce carbon emissions. It was also the first time that a ship has been refuelled with biofuel in Singapore, the world’s largest bunkering hub. A biofuel blend derived from
Reuters CAIRO -The cargo vessel that blocked global shipping in the Suez Canal and is caught in a legal dispute in Egypt is fit to sail once approval is given, its technical manager said on Wednesday. The Ever Given was declared suitable for onward passage from the Great Bitter Lake to Port Said, where she would be assessed again before
Reuters CAIRO – The Suez Canal said on Friday it was close to clearing a backlog of shipping that built up when a giant container ship was grounded in the waterway. Suez Canal Authority (SCA) Chairman Osama Rabie told Egypt’s Extra News TV that 61 ships were still waiting and would pass on Saturday, down from 422 that were queuing
Reuters CAIRO – Egypt’s Suez Canal must move quickly to upgrade its technical infrastructure if it is to avoid future shipping disruption, shipping industry sources said, as the major trade route tries to bounce back from a costly six-day closure. International supply chains were thrown into disarray on March 23 when the 400-metre-long (430-yard) container ship Ever Given ran aground
CNBC CAIRO — Egyptian authorities may seek over $1 billion in damages for helping to clear the Ever Given from the Suez Canal, as a dilemma emerges over who might foot the bill. “We will reach over a billion dollars in compensation,” Osama Rabie, the chairman and managing director of the state-owned Suez Canal Authority, told Egypt’s Sada El Balad channel
Reuters ISMAILIA, Egypt – Formal investigations into how the giant container ship Ever Given ran aground in the Suez Canal, shutting down shipping in the major global waterway for almost a week, begin on Wednesday, a canal official told Reuters. Suez Canal Authority (SCA) Chairman Osama Rabie has suggested weather conditions, including high winds, and human error could have played
Reuters Dislodging a container ship blocking the Suez Canal, one the world’s busiest trade routes, may delay delivery to Europe of around 1 million tonnes of liquefied natural gas (LNG) on 10 vessels if the blockage lasts for two weeks, researcher Rystad Energy said. Salvage officials said it could take weeks to resolve the congestion on the canal, the main
Reuters CAIRO – The Suez Canal stepped up efforts on Friday to free a giant stuck container ship and end a blockage that has sent shipping rates for fuel tankers soaring and disrupted global supply chains for everything from grains to baby clothes. Shipping rates for oil product tankers have nearly doubled after the 400-metre (430-yard) long Ever Given ran
Reuters LONDON/LOS ANGELES – The suspension of traffic through the Suez Canal has deepened problems for shipping lines that were already facing disruption and delays in supplying retail goods to consumers, shipping sources said. Container shipping companies, carrying retail goods ranging from mobile phones and designer goods to bananas, have been struggling for months with disruptions caused by the coronavirus
Reuters LONDON – Oil rose more than 2% on Wednesday after a ship ran aground in the Suez Canal raising supply concerns, although fears of a slow recovery in demand due to European lockdowns limited gains. The giant container ship that has been blocking the Suez Canal for more than a day has been partially refloated and traffic along the
Reuters NEW YORK – Three ships carrying ethanol were heading to China from the U.S. Gulf Coast, three trade sources told Reuters on Monday, in a sign that exports of the fuel were sharply increasing from the United States to the country. The shipments may surpass the total amount of U.S. ethanol that China imported last year, a positive development
Reuters LONDON – A plunge in the volume of crude oil stored on ships combined with unexpected cuts from top producer Saudi Arabia have created a glut of vessels available for hire, pressuring the outlook for supertankers this year. Earnings for very large crude carriers (VLCCs) in 2020 reached record highs of more than $240,000 a day as the coronavirus
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