The Navig8 Excel will utilise a range of technologies that improve operational efficiency, lessen fuel consumption, and reduce emissions. [25 January 2024] The Navig8 Excel entered Navig8 ownership today, the first of six newbuild MR vessels due for delivery by 2025...

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Commodities trader Trafigura said on Saturday it was assessing the security risks of further Red Sea voyages after firefighters put outa blazeon a tanker attacked by Yemen’s Houthi group a day earlier. The U.S. military said a U.S. Navy ship and other vessels provided...

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Clean tankers’ freight rate for Europe-bound voyages Jan. 25 hit its highest level in almost four years, as longer voyages via the Cape of Good Hope amid the Red Sea crisis have led to increased turnaround time for ships and squeezed supply. Platts assessed Persian...

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The UN’s trade and development body, UNCTAD, has raised profound concerns over escalating disruptions to global trade. It says that recent attacks on ships in the Red Sea, combined with geopolitical tensions affecting shipping in the Black Sea and the impacts of...

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Weekly shipping transits through the Suez Canal, a vital trade link between Europe and Asia, plunged by 42 per cent in the last two months, as Yemen’s Houthi rebels continued to attack vessels passing through the Red Sea, a report has shown. The UN agency for the...

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Russia’s largest petrochemical company and exporter of liquefied petroleum gas (LPG) Sibur is reducing LPG exports from the Baltic Sea port of Ust-Luga due to shortages of gas tankers amid sanctions, two industry sources told Reuters on Friday. The cuts in supplies...

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