News
Articles

From
Bloomberg
via
gCaptain
UAE’s Oil Output Surged to Record High in June, IEA Says
The United Arab Emirates boosted crude oil production to an all-time high last month, the most compelling evidence yet of how Abu Dhabi responded more boldly than any of its Persian Gulf neighbors to disruption caused by the Iran war.

From
Bloomberg
via
gCaptain
Hormuz War-Risk Cover Climbs as Shipowners Pull Back
London marine insurers have been seeing fewer inquiries for journeys to transit the Strait of Hormuz and some said the cost of cover had risen, in a sign of growing caution from shipowners as the US and Iran exchange attacks.

From
Bloomberg
via
gCaptain
Ukraine Continues Strikes on Russian Tankers as Shortages Worsen
Ukraine said it hit 12 more tankers in southern Russia as Kyiv expands the scope of attacks that are deepening a nationwide gasoline shortage.

From
Mike Schuler
via
gCaptain
U.S. Escalates Strikes on Iran After Attacks on Commercial Ships
Second day of military action targets coastal defenses, missile sites and naval infrastructure as Tehran warns shipping will only resume under “Iranian arrangements.” The United States has launched a second...

From
Mike Schuler
via
gCaptain
Maersk Expands Red Sea Return With MECL Service Through Suez Canal
Maersk is expanding its gradual return to the Suez Canal, announcing that its MECL service linking India, the Middle East and the U.S. East Coast will once again transit the...

From
Reuters
via
gCaptain
First LNG Cargo Ships from TotalEnergies’ Mexican Plant Energia Costa Azul
French oil major TotalEnergies TTEF.PA has shipped the first liquefied natural gas cargo from the Energia Costa Azul plant in Mexico destined for Asia, it said on Thursday, though full commercial operation has not yet been reached.

From
Bloomberg
via
gCaptain
Indonesia Gets First Russian Oil Shipment After Deal with Moscow
Indonesia imported Russian crude oil for the first time since a deal struck between the two nations in April, a sign of how Moscow has taken advantage of the Iran conflict to grow its customers.

From
Mike Schuler
via
gCaptain
Appeals Court Upholds FMC’s Authority to Strike Down Unreasonable Container Detention Fees
A federal appeals court has upheld a landmark Federal Maritime Commission (FMC) decision finding that ocean carriers cannot impose detention charges that do not serve their intended purpose of promoting...

From
Reuters
via
gCaptain
Russia Bans Diesel Exports After Ukrainian Strikes Threaten Domestic Supplies
Russia introduced a ban on diesel exports on Wednesday as part of a raft of measures to support the domestic fuel market after systematic Ukrainian drone attacks on oil refineries triggered gasoline shortages and price spikes.

From
Reuters
via
gCaptain
EU Plans Slower CO2 Cuts, More Free Permits for Industry in Carbon Market Overhaul
BRUSSELS, July 8 (Reuters) – The European Union could allow industry to emit CO2 for longer and give companies more free carbon permits under plans drafted by the bloc to make its emissions trading system...

From
Mike Schuler
via
gCaptain
U.S. Container Imports Set to Break Pandemic-Era Record Ahead of Tariff Deadline
U.S. container imports are on track to reach an all-time monthly record in July as retailers accelerate shipments ahead of potential new tariffs expected to take effect in August, according...

From
Mike Schuler
via
gCaptain
Fincantieri Spends Big to Build Underwater Technology Powerhouse Through Four Acquisitions
Italian shipbuilder Fincantieri is making its biggest push yet into the fast-growing underwater technology sector, announcing deals worth an initial €600 million to acquire controlling stakes in four companies specializing...