DP World announced it is investing US$50 million (approximately ₩66 billion) to develop a new logistics center in Busan New Port.Construction of the facility in the 75,000-sqm land is set to commence at the end of 2024, with operations expected to start by the second quarter of 2026…
One of Turkey's mid-sized Mediterranean oil terminals - the Dortyol terminal - will no longer accept Russian imports after receiving record volumes last year, amid an increase in sanctions pressure by the United States.Turkey has become one…
Dutch dredging contractor Van Oord reports it is carrying out dredging works in the Port of Krishnapatnam, India.The depth of the port channels must be restored after a severe cyclone Michaung caused siltation in the port area. The Port of Krishnapatnam…
New U.S. sanctions on Moscow are more likely than previous ones to cut Indian imports of thermal coal from Russia because they specifically cite top exporters SUEK and Mechel, three major traders of Russian coal said.Russia, historically a minor exporter of the fuel to India…
Vitol Bunkers has taken delivery of the Marine Future vessel, its first specialized biofuel bunker barge in Singapore.The addition of this specialized IMO type 2 notation bunker tanker to the V-Bunkers fleet will make it possible to supply biofuel blends including B24…
AD Ports Group announced the signing of strategic Memoranda of Understandings (MoUs) with Gujarat Maritime Board, and RITES Limited, a certified multi-disciplinary transport and infrastructure company. These MoUs cover a broad spectrum of collaborative ventures…
Kobe-Osaka International Port Corporation has launched a project to demonstrate rubber-tired gantry (RTG) crane, which uses a hydrogen-powered engine to demonstrate decarbonization of advanced cargo handling machinery.The project is said to…
The spot price of liquefied natural gas (LNG) is continuing to meander at low levels amid ample supply from major exporters and signs that winter demand is easing in the top-importing regions of Asia and Europe.The spot price for LNG delivered to north Asia ended at $9…
Swire Shipping announced that Westwood Shipping Lines, a niche vessel operator it acquired in June 2022, has changed its name to Swire Shipping.According to Sire, the rebrand—which took effect February 1—will help Westwood to leverage synergies and capabilities in containers…
A groundbreaking ceremony marked the official start of construction for the RM15 billion (US$3.2 billion) Kuala Linggi International Port (KLIP) project in Malaysia.Scheduled for completion by 2027, KLIP's vision is to transform Kuala Sungai…
Heavy fog has suspended the operation of ships travelling through the Qiongzhou Strait off the coast of China's Guangdong province and several cities, including Shanghai, have issued warning advisories, Chinese state media reported on Wednesday…
Russia energy infrastructure has been hit by drone attacks and fires in the past month, adding to uncertainty in global oil and gas markets already rocked by the conflict in the Middle East.Russia and Ukraine have targeted each other's energy…
India's petroleum consumption climbed to a new record last year and the country is on course to overtake China as the primary driver of incremental oil consumption before 2030.Urbanisation, industrialisation and the growth of the middle class…
The Baltic Sea port of Ust-Luga was exporting crude oil and fuel on Tuesday apart from at Novatek's terminal which remained closed after being damaged by fire, according to data from LSEG and industry sources.Novatek said on Sunday it had been…
For Chinese businessman Han Changming, disruptions to Red Sea freight are threatening the survival of his trading company in the eastern province of Fujian.Han, who exports Chinese-made cars to Africa and imports off-road vehicles from Europe…
