How soaring shipping costs raise prices globally
The sea carries more than 80 percent of the world’s traded goods, most of which sail inside 40-foot-long steel containers stacked by the thousands atop some of the largest vessels…
OPEC warns EU over market consequences of banning Russian oil
OPEC has told the EU that global energy markets would be destabilised if European countries follow through with a threat to ban imports of Russian oil, sources in the producer…
Russia exports slow as war in Ukraine enters week five
Russian leader, Vladimir Putin Four weeks after Russia’s invasion of Ukraine a few things have become clearer, but much uncertainty remains. Further sanctions have been imposed on Russia, including the…
Again, oil prices jump as EU considers Russian oil ban
Oil prices jumped more than $3 on Monday, with Brent crude climbing above $111 per barrel, as European Union nations considered joining the United States in a Russian oil embargo…
P&O Ferries sack of 800 seafarers sparks anger in UK
PO Pride of Kent P&O Ferries’ decision to fire 800 seafarers without warning has drawn widespread condemnation across parliament, unions and social media. The company made 800 seafarers redundant on…
Oil continues rally as Russia-Ukraine talks stall
Oil prices extended their gains on Friday at the end of a third volatile week of trade after slim progress in peace talks between Russia and Ukraine raised the spectre…
Global diesel shortage raises risk of oil price spike
Global stocks of diesel and other middle distillates have fallen to the lowest seasonal level since 2008, when similar shortages of these transport and industrial fuels helped to propel oil…
International crews begin returning from war-torn Ukrainian ports
Filipino seafarers return to Manila March 9, 2022. The Philippines celebrated the return of its first seafarers that had been caught on ships in and near Ukraine when the war…
Russian invasion propels ship fuel price to historic high
The price of ship fuel was flirting with a new record even before Russia invaded Ukraine. Then war broke out, and the highs of the past were left far behind.…
U.S., EU may bar Russian ships from seaports
The Biden administration is considering following Canada in barring Russian ships from ports, a government official said on Wednesday. A White House spokeswoman said no decision has been made. Meanwhile,…
