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Russian oil for March delivery to India at a lower discount

Sources say that traders offer Russian oil for March delivery to India at a lower discount After a temporary delay caused by the recent U.S. trade sanctions, which have increased trading costs, Indian sources in the refining industry said that traders have now resumed their offers to Indian refiners of Russian crude cargoes. Washington imposed sanctions on Russian producers and tankers earlier this month, disrupting the supply of the world's no. The number 2 oil producer in the world has been slowed down and ship availability is tightened. India has become the biggest market for Russian oil shipped by sea, sold at a discounted price after Western nations stopped buying it as a response to Russia’s invasion of Ukraine 2022. Sources said that while Russian crude is typically offered in the middle of the month, two months before the delivery period, only this week new trading entities began showing cargoes for delivery in March. The number of cargoes available has also decreased, while the discounts on Urals crude have shrunk compared to last year. This is because freight rates have increased after Moscow began looking for vessels to…

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Maersk to launch its new ocean network

On February 1, Maersk A/S (Maersk), an entity under A.P. Moller - Maersk, and Hapag-Lloyd AG (Hapag-Lloyd) launch their operational collaboration Gemini Cooperation.  The ambition is to deliver a flexible and interconnected ocean network with industry-leading schedule reliability above 90 percent once fully phased in. Around 340 vessels will be phased in and be a part of Maersk and Hapag-Lloyd’s shared ocean network with the first sailings taking place on February 1, and more vessels will gradually sail on the new schedules. “We are now ready to commence the phase-in of the new network. Over the last year, we have carefully planned this to ensure that all our customers experience a smooth transition into the new network. With its innovative design, we believe our customers will benefit from increased reliability, flexibility and more competitive products,” says Johan Sigsgaard, Chief Product Officer of Ocean at Maersk. The transition period is expected to last until late May, with vessels phasing into the new network, and out of the expiring agreements that Maersk and Hapag-Lloyd have with other carriers. June will be the first full month in which the network is…

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Novel New Ro/Ro Wind Component Carrier Launched at Zhenjiang Shipyard

The offshore wind service vessel company Deugro is building two unique and specialized cargo vessels for turbine components, which keep getting bigger and bigger every year. Deugro Danmark secured a firm charter agreement with turbine builder Siemens Gamesa for its "Rotra" concept of wind component transport. Working with Siemens Gamesa, specialty vessel designer DEKC Maritime and shipbuilder Concordia Damen, Deugro came up with a more cost-effective and efficient vessel design to carry out the task.  The Rotra Futura and sister ship Rotra Horizon are designed for ro/ro loading with a rear ramp, and can stow turbine blades three tiers high. They also have cranes for greater flexibility in loading methods and a house-forward accommodations arrangement to maximize cargo deck space. The previous generation of Rotra vessels are house-aft, with a bow ramp, and they underwent significant modifications in 2022: they were widened with sponsons and had their ro/ro ramps modified, all to handle the growing size of modern turbines.  A modern Wartsila main engine will power them ahead with 15 percent better efficiency than a comparable older vessel, augmented with a waste heat recovery system.  "Innovation is central to our ship designs, allowing…

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