Business

Argus Media: Grounded Suez Canal vessel partly refloated: Update 2

Ever Given, was partially refloated as of 12:00 local time and traffic is expected to resume as soon as the vessel is towed to another position, reports Argus Media.

Published

4 years ago

March 25, 2021

Admin

Kevin Foster, Andrew Khaw and Ben Winkley of global energy and commodity price reporting agency Argus Media on Wednesday (24 March) published a summary on a recent incident at the Suez Canal where Ever Given, an ultra large container carrier ran aground, blocking traffic at the canal :

Adds details of vessel being partially refloated

The container ship that ran aground in the Suez Canal yesterday has been partially refloated, shipping agent GAC said today. There are signs of a build-up in tanker traffic at either end of the vital conduit.

The Ever Given, an ultra large container carrier, was partially refloated as of 12:00 local time (10:00 GMT) and is alongside the canal bank, GAC said. It expects convoys and traffic to resume as soon as the vessel is towed to another position. The Suez Canal Authority (SCA) could not immediately be reached for confirmation.

The vessel was heading north when it ran aground at 07:40 local time (05:40 GMT) yesterday because of a dust storm and high winds, the SCA said. At least 64 southbound and 42 northbound vessels are either in the canal or waiting at outer anchorage having been delayed by the incident, according to shipping market estimates. There are no indications yet that any have been diverted to alternative routes such as around the Cape of Good Hope, according to Vortexa, which said that around 10 tankers carrying about 13mn bl of crude could be affected by the disruption.

Crude futures rose by around 2pc today following the disruption. The Ice front-month May Brent contract was up by $1.35/bl or 2.2pc to $62.15/bl as of 10:40 GMT, having fallen sharply yesterday.

It typically takes 1-2 days for vessels to pass through the canal, which is one of the main transit points for oil and LNG heading from the Middle East to Europe and the Americas, and for Atlantic basin cargoes heading to Asia-Pacific. Flows through the Suez Canal and Egypt's Sumed pipeline account for around 10pc of global seaborne oil trade volumes, according to the US EIA.

Photo credit and source: Argus Media
Published: 25 March, 2021

LNG Bunkering

China: Ningbo Zhoushan Port completes first LNG bunkering operation for 2025

Bunkering vessel “Hai Yang Shi You 302” supplied more than 10,000 cubic metres of LNG bunker fuel to containership “MSC Adya” at the Ningbo-Zhoushan Port port on 5 January.

Published

3 days ago

January 10, 2025

Admin

China: Ningbo Zhoushan Port completes first LNG bunkering operation for 2025

Zhejiang Pilot Free Trade Zone Zhoushan Area on Wednesday (8 January) said Ningbo-Zhoushan Port successfully completed its first LNG bunkering operation for the year.

Bunkering vessel Hai Yang Shi You 302 supplied more than 10,000 cubic metres (m3) of LNG bunker fuel to containership MSC Adya at the port on 5 January.

Zhejiang Seaport International Trading, the bunker supplier for the operation, successfully obtained the Zhoushan Anchorage LNG bunkering licence in June 2024, extending refuelling services from dock to sea.

The company’s services cover Meishan, Chuanshan, Daxie and other port areas.

As China's first river-sea LNG transport and bunkering ship, Hai Yang Shi You is currently placed permanently at Ningbo Zhoushan Port, providing a variety of bunkering methods such as ship-to-ship and ship-to-shore.

Zhejiang Seaport International Trading will continue to expand the scope of bonded LNG bunkering operations and new alternative fuels such as green methanol, ammonia and biofuels in the Zhoushan Area.

Photo credit: Zhejiang Pilot Free Trade Zone Zhoushan Area
Published: 10 January, 2025

Business

Shandong Port Group bans US-sanctioned tankers from entering its ports

Group has prohibited ports to dock, unload or provide ship services to vessels on the Office of Foreign Control list managed by the US Department, according to a Reuters news report.

Published

3 days ago

January 10, 2025

Admin

Shandong Port Group bans US-sanctioned tankers from entering its ports

China’s Shandong Port Group has reportedly blocked tankers affected by US sanctions from entering its ports, according to an exclusive news report by Reuters on Wednesday (8 January).

Citing a notice from the port, which was issued on 6 January and shared to Reuters by traders, the Group has prohibited ports to dock, unload or provide ship services to vessels on the Office of Foreign Control list managed by the US Department.

In another notice released on 7 January, the ban came after sanctioned tanker Eliza II unloaded at Yantai Port in early January.

Shandong Port operates major ports on the east coast of China including Qingdao, Rizhao and Yantai, which are major terminals for importing sanctioned oil.

The traders said the ban could slow imports into China, the world’s largest oil importing nation, and increase shipping costs.

Photo credit: Shandong Port Group
Published: 10 January, 2025

Business

US DoD designates COSCO Shipping and CNOOC as ‘Chinese military companies’

COSCO Shipping has responded that the company and its subsidiaries ‘have consistently adhered to local laws and regulations, maintaining strict compliance in all international operations’.

Published

3 days ago

January 10, 2025

Admin

China: Cosco Shipping and bp to explore collaboration into methanol bunker fuel

The US Department of Defense (DoD) on Tuesday (7 January) has added China’s state-owned shipping company COSCO Shipping and two of its subsidiaries to its list of companies for allegedly having links to the Chinese military.

The subsidiaries are COSCO SHIPPING (North America) and COSCO SHIPPING Finance.

DoD released the update to the names of "Chinese military companies" operating directly or indirectly in the United States in accordance with the statutory requirement of Section 1260H of the National Defense Authorisation Act for Fiscal Year 2021. The Department said it will update the list with additional entities as appropriate.

Updating the Section 1260H list of "Chinese military companies" is an important continuing effort in highlighting and countering the People’s Republic of China's (PRC) Military-Civil Fusion strategy, DOD added.

The list also included other Chinese shipping-related companies such as shipbuilders China Shipbuilding Trading and China State Shipbuilding Corporation, oil company China National Offshore Oil Corporation (CNOOC), CNOOC China and CNOOC International Trading.

Shipping container manufacturer China International Marine Containers (CIMC) was also included on the list of companies.

In a response to the move, COSCO Shipping said it has noted the recent inclusion of the company and its subsidiaries to the sanctions list.

“COSCO Shipping and its subsidiaries have consistently adhered to local laws and regulations, maintaining strict compliance in all international operations,” it said on its website.

“We remain committed to facilitating global trade and providing high-quality commercial shipping and logistics services to clients worldwide, including agricultural producers, manufacturers, energy firms, retailers, and exporters in the United States.”

“We emphasise that none of the aforementioned companies are ‘Chinese military companies’. We will engage with U.S. authorities to clarify this matter. This designation does not impose sanctions or export controls, and our global operations will continue uninterrupted.”

Photo credit: COSCO Shipping
Published: 10 January, 2025