Refinery Rationalisation Refinery rationalisation is back on the agenda. With a prolonged weakness in refinery margins due to Covid-19 related demand destruction and an uncertain future for hydrocarbon consumption, many refiners have decide

On August 27, 2020, CIMC issued a notice entitled Resignation of Chairman and President, Election of Chairman, Director, President and Appointment of special committee members of the Board of Directors. According to the announcement, Wang H

Indian state refiners have stopped buying crude oil from China-linked companies, three sources said, after New Delhis recent regulation aimed at restricting imports from countries that it shares a border with. The new regulation, put in pla

The Baltic Exchanges main sea freight index inched down on Thursday, as rates for capesize and supramax vessels declined. The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, pana

PetroChina, Chinas largest oil and gas producer, reported a revenue of more than 929 billion yuan ($135.1 billion) in the first half of this year, down 22.3 percent year-on-year, according to its financial report filed with the Hong Kong Ex

Global, sector-focused law firm HFW has acted on the sale of almost half of the entire Swiss maritime fleet. HFW advised Swiss shipowner Massoel Shipping SA on eight separate vessel sale transactions, representing 40% of all Swiss-flagged c

On 24 August 2020, CSSC (Hong Kong) Shipping announced that its wholly-owned subsidiaries Fortune Wuxi and Fortune Suzhou entered into a memorandum of agreement and a bareboat charter agreement with the charterer. Fortune Wuxi and Fortune S

Newport Shipping announces it will be working with global LNG market service provider Gloryholder Liquified Gas Machinery (DL) Co., Ltd (LGM Engineering), as part of its LNG solutions offer to the market. Newport Shipping aims to meet its c

The United States on Wednesday blacklisted 24 Chinese companies. The companies blacklisted included Guangzhou Haige Communications Group, several firms that appear to be related to the China Communications Construction Co, as well as Beijin

25 August 2020 Today, the International Chamber of Shipping (ICS), along with the International Maritime Health Association (IMHA) and the International Association of Independent Tanker Owners (INTERTANKO), have issued new protocols to mit

Vice-Premier Liu He and senior US officials held talks by telephone on Tuesday, with both sides agreeing to continue pushing forward the implementation of the phase-one trade deal the two nations signed in January. Experts and business lead

The China Tianjin Bulk Freight Index (TBI), an indicator of northern Chinas international bulk freight rates, stood at 830.12 points on Wednesday, up 1.71 percent compared with the previous working day. The statistical samples of TBI cover

ReCAAP Information Sharing Centre organises first Virtual Capacity Building Workshop to share information on evolving maritime safety situation in Asia ReCAAP Information Sharing Centre (ISC) today held its annual Capacity Building Workshop

Following last years order for six of the worlds largest VLECs, Zhejiang Satellite Petrochemical will order another six VLECs for its new petrochemical project. Four of the ships will be built by South Korean companies, and the other two ar

Chinas clean marine fuel exports fell in July, official data showed on Tuesday, despite a surprise surge in the countrys total exports of general goods. Exports of the very low-sulphur fuel oil (VLSFO), with a maximum sulphur content of 0.5