HSFO cash premiums gain; HPCL sells July, August Supplies

Spot premium for High Sulphur Fuel Oil (HSFO) inched higher on Monday but the upside remained capped in anticipation of higher supplies this month. The 380-cst grade High Sulphur Fuel Oil (HSFO) cash premium was pegged at $6.32 a metric ton, while 180-cst was...
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Baltic index hits two-week low on weaker vessel rates

The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, fell to two weeks low on Monday as demand in all vessel segments weakened. The overall index, which factors in rates for capesize, panamax and supramax shipping...
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Report: Abandoned Tanker Sinks Off Yemen

Report: Abandoned Tanker Sinks Off Yemen
The aging tanker Lavant, which sustained uncontrollable flooding off the southeastern coast of Yemen in June, appears to have disappeared and has likely sunk, multiple intelligence sources have confirmed to Reuters. The 30-year-old ship’s loss is considered a...
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Saudi Aramco Jackup Suspensions: The Story So Far

Saudi Aramco Jackup Suspensions: The Story So Far
Saudi Aramco’s ambitious post-Covid jackup fleet expansion program, in which the operator looked to increase its fleet size from approximately 49 jackups in June 2022 to 90 in just two years, seemed a daring feat. But fast forward to March 2024 and the Saudi Arabian...
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