Category: Headlines

Greece becomes a hub for Russian oil

Greece becomes a hub for Russian oil

Gepostet von | 31 May 2022 | , , , , | 0

Increasing transshipment of Russian fuel oil off the Greek coast leads to record levels. Sanctions against Moscow are prompting traders to find new ways to export Russian oil via ship-to-ship (STS) cargoes, according to data from Refinitiv Eikon and sources. Trade in Russian crude oil and oil products remains legal for now as the European Union has yet to fully agree on a proposed embargo, but banking and other financial sanctions against Russia following its invasion of Ukraine on 24 February are making this trade increasingly difficult. In April, almost 0.9 million tonnes of Russian heating oil were delivered to Greece, about double...

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Chinese submarine newbuild recognised

Chinese submarine newbuild recognised

Gepostet von | 30 May 2022 | , , , | 0

This section of a satellite image from Planet Labs shows a Chinese shipyard in Huludao in the northern province of Liaoning - and a submarine in its dock. However, the size and top view do not quite correspond to the types known to date. As two green areas are also visible aft of the tower and cross-shaped control surfaces with a casing can be seen at the stern, experts suspect that this is the prototype of a submarine class equipped with vertical launchers (VLS) and pump-jet propulsion. Chinese plans China has been pursuing the goal of being able to launch land and sea-based cruise missiles from submerged boats (long-range offensive strike capability) for some time. Should the two greenish...

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Hapag-Lloyd: Anniversary of a German icon

Hapag-Lloyd: Anniversary of a German icon

Gepostet von | 30 May 2022 | , , , | 0

On 27 May 2022, it will be 175 years since a group of Hanseatic merchants founded the Hamburg-Amerikanische Packetfahrt-Actien-Gesellschaft in Hamburg. The beginning was quite modest with three small packet sailers. First, the DEUTSCHLAND, a full-rigged ship of 538 gross register tonnes, left Hamburg on 15 October 1848, bound for New York. The company, which was later known simply as the Hamburg-America Line or Hapag for short, launched its first steamship in 1855 with the HAMMONIA, which was already 2026 gross register tonnes in size. A little later, in Bremen, the other major Hanseatic city on the North Sea, North German Lloyd was founded on 20 February 1857.

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Russians export oil in large quantities

Russians export oil in large quantities

Gepostet von | 30 May 2022 | , , , , | 0

Losses for Russia, but not massive Russia's seaborne crude oil exports from its western ports to Asian countries, especially India and China, rose again to more than 1 million barrels per day and could rise further. However, overall crude oil shipments remained virtually unchanged until 13 May as European Union countries continue to argue over a planned ban on Russian oil imports following the country's invasion of Ukraine. A total of 35 tankers loaded about 24.9 million barrels from Russian export terminals, according to ship-tracking data compiled by Bloomberg and reports from port agents. This put the...

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Enormous: Suez Canal turnover at 7 billion US dollars

Enormous: Suez Canal turnover at 7 billion US dollars

Gepostet von | 28 May 2022 | , , , | 0

Egypt expects the Suez Canal's revenues to reach around 7 billion US dollars by the end of the current fiscal year, Finance Minister Mohamed Maait said on 21 May. Tourism revenues are expected to reach between 10 and 12 billion US dollars by then, despite the Ukrainian crisis, he added. The Egyptian budget year runs from 1 July to 30 June. The canal is the fastest shipping route between Europe and Asia and one of the Egyptian government's main sources of foreign exchange. Source: Thomson Reuters 2022/...

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