Tuesday, 14 August 2018 | 11:27
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U.S. refineries running at near-record highs


For the week ending July 6, 2018, the four-week average of U.S. gross refinery inputs surpassed 18 million barrels per day (b/d) for the first time on record. U.S. refineries are running at record levels in response to robust domestic

Don’t Look Now, But the Gulf of Mexico Jackup Market is Doing Pretty Well


At first glance, it would be difficult to view a region with just 27 jackups and only 12 of those contracted as warranting any special attention. However, a deeper dive into the numbers shows that the US Gulf of Mexico

Tanker Market: VLCC Market Still Lacking Upwards Momentum


Basis 270,000mt AG/China rates slipped to WS 52, with talk of 2004-built tonnage agreeing WS 49.5. Total fixed to Japan at WS 50, while Korea also went at WS 50. For USG rates also softened to around WS 24.25

Genscape : Permian Basin Drilling Results in Continued Growth of PADD 3 Diesel Demand


Diesel demand in the U.S. Gulf Coast (PADD 3) has shown remarkable year-on-year growth in 2017 and 2018, according to Genscape Supply Side data, linked to the resurgence in Permian Basin crude oil production. However, this year-on-year diesel demand growth

NYK to Participate in Demonstration Project to Remotely Operate a Ship


NYK and NYK Group companies MTI Co. Ltd., Keihin Dock Co. Ltd., and Japan Marine Science Inc. (JMS) have been selected by Japan’s Ministry of Land, Infrastructure, Transportation and Tourism (MLIT) to participate in a demonstration project utilizing ship maneuvering

IEA says calm in oil markets could be short-lived


Following strong demand growth in 1Q18, in 2Q18 and 3Q18 the pace has slowed dramatically to a relatively subdued 1 mb/d. In 4Q18 we expect a rebound and demand will be 100.2 mb/d.

For 2018, our global demand growth outlook is

Maersk and IBM Introduce TradeLens Blockchain Shipping Solution


In a follow up to their January announcement, A.P. Moller –Maersk (MAERSKb.CO) and IBM (NYSE: IBM) announced the creation of TradeLens, jointly developed by the two companies to apply blockchain to the world’s global supply chain. TradeLens is the result

Capacity Glut to Trigger Refinery Closures After 2021


An excess of global refining capacity looms after 2021, according to ESAI Energy’s newly released, Global Refining Capacity Five Year Outlook. ESAI Energy projects a significant increase in new distillation capacity to 2023. After lagging demand growth in recent years,

New marine nitrogen generator reduces energy consumption by 35 % onboard ships


The marine market is in the process of becoming “greener” and more environmentally friendly. The major drivers are ballast water treatment regulations, tighter regulation of pollution from exhaust gasses and a move towards using LNG as fuel. For ship owners

Thordon Bearings And Heddle Marine Team Up To Convert Ships To Pollution Free Propeller Shaft Lines


Thordon Bearings Inc. and Heddle Marine Service Inc. have signed a cooperative agreement under which the Canada-based ship repair company will work together with Thordon Bearings Inc. to promote the conversion of ships' oil lubricated propeller shafts to Thordon's COMPAC

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