shipping News

Black Sea Shipping Rates Rise as Reinsurers Cut Cover

LONDON –– Costs for hiring ships to transport commodities from the Black Sea have risen by more than a fifth since the start of the year, reflecting higher war risk insurance rates, industry sources said. The Black Sea is crucial …

Union Pacific Railroad Shipping Limits Generate Complaints

OMAHA, Neb. (AP) — Federal regulators and shippers are questioning Union Pacific’s decision to temporarily limit some businesses’ shipments as part of its effort to clear up congestion across the railroad. The head of the U.S. Surface Transportation Board, Martin …

Turkey Reaches Deal over New Crude Tanker Insurance Regulations

ISTANBUL —Turkey welcomed an agreement reached with its counterparts on Tuesday that allows the continuation of a new regulation requiring crude oil tankers to present an insurance confirmation letter before transiting Turkish straits. The Turkish measures, which came into effect …

Deepening Turkey Tanker Logjam Snarls Russia Oil Sanctions

ISTANBUL –– Turkey emerged as a critical stumbling block to a complex international plan to deprive Russia of wartime oil revenues as the number of tankers waiting to exit the Black Sea through Turkish straits continued to rise on Friday. …

Western Officials in Talks with Turkey over Oil Tanker Delays

Western officials are in talks with Turkish counterparts to resolve oil tanker queues off Turkey, a British Treasury official said, after the G7 and European Union rolled out new restrictions on Dec. 5 aimed at Russian oil exports. “The UK, …

Vessel Seeks Other Port After Texas Freeport LNG Delay, Data Shows

At least one liquefied natural gas (LNG) vessel gave up on Freeport LNG’s export plant in Texas after the company last week delayed its planned restart to the end of December, ship tracking data from Refinitiv showed. Some analysts have …

Oil Tankers Queuing to Transit Turkish Straits Face More Delays

ISTANBUL –– At least 20 oil tankers queuing off Turkey to cross from Russia’s Black Sea ports to the Mediterranean face more delays as operators race to adhere to new Turkish insurance rules added ahead of a G7 price cap …

Viewpoint: Unseaworthy Vessels One Reason Containers are Lost at Sea

The World Shipping Council reported that for 2020-2021, the two-year average annual loss of containers overboard was 3,113 units. That is more than four times the total for the previous three-year, 2017-2019, average loss of 719 units. Two defects contribute …

Carriers Feeling Cheery About on-Time Holiday Deliveries

The nation’s major shipping companies are in the best shape to get holiday shoppers’ packages delivered on time since the start of the pandemic, suggesting a return to normalcy. Carriers like the U.S. Postal Service, FedEx and United Parcel Service …

Official Says Oil Tanker Hit by Bomb-Carrying Drone off Oman

DUBAI, United Arab Emirates (AP) — An oil tanker associated with an Israeli billionaire has been struck by a bomb-carrying drone off the coast of Oman amid heightened tensions with Iran, an official told The Associated Press on Wednesday. The …