July 14, 2023
A top buyer of Russian oil is bracing for trading trouble as the price of Urals, the country’s main export grade, breaks through a $60-a-barrel cap set by Western nations to curb Moscow’s revenue. India and China have been the …
July 13, 2023
Russia’s flagship Urals crude oil breached a price cap set by the Group of Seven, a blow to western sanctions efforts and arguably an economic win for Moscow. According to price reporting agency Argus Media, Urals crude topped $60 a …
July 13, 2023
Crews extinguished the intensely burning fire aboard a cargo ship docked in New Jersey after nearly a week and are now beginning their investigation into the blaze that killed two firefighters, officials said Tuesday. “We can officially declare the fire …
July 11, 2023
Indonesia’s coast guard said on Tuesday it seized an Iranian-flagged supertanker suspected of involvement in the illegal transshipment of crude oil, and vowed to toughen maritime patrols. The MT Arman 114 was carrying 272,569 metric tons of light crude oil, …
July 11, 2023
A fleet of tankers that sprouted up out of nowhere to keep Russia’s oil moving has disbanded even faster than it emerged, underscoring the challenges involved in keeping track of who’s helping Moscow to get its petroleum to buyers around …
July 7, 2023
Two firefighters were killed battling a blaze that began when cars caught fire deep inside a cargo ship carrying 5,000 cars at a New Jersey port, Newark`s fire chief said Thursday. Responding firefighters found five to seven vehicles already on …
July 7, 2023
Global leaders are racing to salvage an international deal to allow Ukraine’s grain shipments by sea before it expires in less than two weeks. They face a key problem: the pact, already extended three times, is nearly defunct. The nation’s …
July 3, 2023
An armada of tankers ferrying sanctioned oil around the globe is starting to get younger, bucking a months-long trend of using the world’s oldest and most dangerous vessels. Shortly after President Vladimir Putin’s invasion of Ukraine early last year, hundreds …
June 28, 2023
Climate change is the cause of a key emerging risk identified by Swiss Re’s SONAR report, which is leading to the opening of previously frozen waterways in the Arctic and the creation of new shipping and trade routes. The economic …
June 16, 2023
Howden, the London-based insurance broker, announced it has strengthened its marine offering in Europe with the acquisition of Bremen-based broker Northern Lloyd, one of the leading marine brokers in Northern Germany. The acquisition of Northern Lloyd reinforces Howden’s strategy to …