Disruption to global logistics and supply chains remains widespread, with overall port congestion now running above the levels seen last year and specific container fleet congestion trending towards previous highs. Discussing recent trends in the Clark…
New research has found that where cyberattacks in the maritime industry lead to a ransom payment, shipowners pay more than $3 million on average to the perpetrators. The report, which was produced by maritime cyber security company CyberOwl and global,…
CyberOwl, HFW Report: Maritime Industry Pays Average $3m Ransom In Cyberattacks Read More »
The dirty tanker market remained at muted levels for much of February, although volatility accelerated at the end of the month as geopolitical developments intervened, OPEC said in its latest monthly report. Rates remained elevated into March, although…
Tanker Market at Stalemate During February Read More »
Prompt bunker availability tight in major regional ports • US fuel oil stocks fall further below five-year average • New barging surcharges come into effect Several suppliers are unable to commit to prompt HSFO380, VLSFO and LSMGO deliveries in Houston…
ENGINE: Americas Bunker Fuel Availability Outlook Read More »
Sanctions cause payment confusion This dispute in MUR Shipping BV v. RTI Ltd [2022] EWHC 467 (Comm) related to an owner’s purported exercise of a force majeure provision in a contract of affreightment in response to the charterer’s difficulties paying …
A force majeure to be reckoned with Read More »