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  1. Tankers Carrying Dirty Russian Oil Left Stranded at Sea
    tanker deckBy Olga Yagova, Dmitry Zhdannikov and Florence Tan MOSCOW/LONDON, June 25 (Reuters) – In the opinion of Russian officials, the oil contamination crisis that disrupted flows from the world’s second-largest exporter of crude this spring is long over. But a closer look at a dozen tankers containing dirty Russian oil suggests that for the buyers, the […]
  2. Orsted Wins New Jersey Contract as Offshore Wind Poised to Boom
    offshore wind turbineBy Christopher Martin (Bloomberg) — New Jersey awarded a contract to Denmark-based Orsted A/S to provide power from a wind farm it’s planning in the Atlantic Ocean as Northeast states push to jump-start an industry that’s languished in the U.S. Orsted, the world’s biggest offshore wind developer, plans to build the project 15 miles (24 […]
  3. Portuguese Shipping Company to Pay $1.5 Million Criminal Fine in ‘Magic Pipe’ Case in U.S.
    MV ACHILLEUS bulk carrier.Portuguese shipping company Portline Bulk International has pleaded guilty in federal court Charleston, South Carolina to one count of violating the Act to Prevent Pollution from Ships and one count of Obstruction related to use of a so-called “magic pipe” onboard one of its ships calling in the United States. According to Justice Department press […]
  4. Persian Gulf War Risk Premiums Seen Costing $500,000 Per Oil Shipment
    tanker underway(Bloomberg) –The cost of insuring Middle East oil shipments is soaring as tensions mount in a region responsible for about a third of all seaborne petroleum. So-called war risk premiums for a standard oil cargo from the Persian Gulf and the tanker hauling it can now cost upwards of $500,000, according to people familiar with […]
  5. More Arrests in MSC Gayane Cocaine Bust
    MSC GayaneU.S. authorities have made four more arrests related to the record cocaine bust on an MSC containership at the Port of Philadelphia last week. The investigation into the more than 35,000 pounds of cocaine smuggled in shipping containers on board the MSC Gayane has now resulted in six total arrests, including the arrests of the […]
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