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The latest energy, maritime and bunker industry news worldwide.

West Coast Ports Continue to Set Records
Ports up and down the west coast are continuing to set cargo records following the COVID-19 pandemic and months of congestion. Just last week the

Shippers Compete for Space as Container Freight Rates Continue Rise
Just this week, shippers from Asia to Europe saw a further spike in container spot rates, especially for Mediterranean ports. In addition, carriers are said

Port of Oakland Reports Busiest Quarter on Record
According to recent data, The Port of Oakland has seen record levels in the first quarter of 2021 as recent trade surge has pushed both

Oil Prices Surge as OPEC Extends Production Cuts
Despite recent price surges, a group of major oil producers has agreed to extend production cuts for another month, choosing to limit supply until the

U.S. Port Congestion Could Last Until Summer Peak Season
Shipping experts now believe that major port and landside congestion at US west coast ports could last until the summer peak season, according to recent

Port Delays Leave Cargo Ships Stranded off U.S. Pacific Gateways
This week alone, more than 40 cargo ships were lined up off the coast of Los Angeles and Long Beach in a new sign of

Surging Shipping Rates Pose New Headwind for Global Economy
Even though the pandemic is raging on, shocks to supply chains are engulfing a wider swath of the global economy. It is predicted that auto

Busy Ocean Freight Market Continues With No Predicted End In Sight
The unpredictable levels of containerized cargo movement that have driven freight rates sky-high will not likely end soon, according to a top Maersk executive. The

Tanker Market Starts the Year on a Positive Note
The tanker market entered 2021 with renewed optimism, despite estimates of the opposite following 2020 data. In VLCC market’s latest report, there was hope in

Container Ships Suffer Record Delays
According to Copenhagen-based Sea-Intelligence, average global carrier schedule reliability across 34 trade lines fell to just 50.1% last month. November 2020 is the worst global

IATTC Agrees to Rollover Tropical Tuna Quotas to 2021
The Inter-American Tropical Tuna Commission (IATTC) held a special session on Dec. 22 and agreed to a rollover of its existing quotas for tropical tuna

Clarity is Still Lacking For Ship Owners After IMO Meeting
After an inconclusive meeting last week at the International Maritime Organization (IMO), ship owners still have to contemplate their future plans in the fuels arena.