News Flash | Sea and Job

Facilitating free trade remains top of IUMI’s agenda

At a meeting of the International Union of Marine Insurance (IUMI) executive earlier this week, it was made clear that protectionist measures were not in the interests of the marine insurance community. In an inter-connected global economy, protectionism in the form...

China’s retaliatory tariffs on crude likely to push US exports lower in 2025

China’s retaliatory tariffs on the United States may cause U.S. oil exports to decline in 2025 for the first time since the COVID-19 pandemic, after growth plateaued last year. Exports of U.S. crude have surged more than 10 times since it lifted a 40-year federal ban...

IKEA Leads on Green Shipping, But More Action Needed for Zero-Emission Ships

Pacific Environment’s Ship It Zero coalition commends IKEA for continuing to prioritize maritime shipping decarbonization, as reflected in the company’s FY24 Climate and Sustainability reports released this week. As the leading retailer in green shipping, Pacific...

Panama lawsuit requests axing Hong Kong firm’s canal concession

Two Panamanian lawyers filed a complaint this week to cancel the concession of a Hong Kong-based company for operating two ports on the Panama Canal, following United States President Donald Trump’s threats to seize the vital waterway. A subsidiary of CK Hutchison...

HSFO cracks hold strength but spot premiums dip

Refining cracks for high-sulphur fuel oil (HSFO) retained its recent strength on Thursday, though spot premiums showed signs of easing. Singapore’s March 380-cst HSFO/Brent crack (FO380BRTCKMc1) closed at a discount of 56 cents a barrel on Thursday, holding near...

Russian ESPO Blend oil freight rates fall as tanker availability improves, traders say

Freight rates for ESPO Blend crude shipped from the Russian port of Kozmino to China have fallen 50% in early February from mid-January levels as a shortage of tankers following U.S. sanctions on the fleet shipping Russian oil eased, four traders said. The cost of...

Facilitating free trade remains top of IUMI’s agenda

China’s retaliatory tariffs on crude likely to push US exports lower in 2025

IKEA Leads on Green Shipping, But More Action Needed for Zero-Emission Ships

Panama lawsuit requests axing Hong Kong firm’s canal concession

HSFO cracks hold strength but spot premiums dip

Russian ESPO Blend oil freight rates fall as tanker availability improves, traders say

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