Category: Energy News Beat

EU faces up to €1 trillion loss for cutting Russian gas – Moscow sovereign wealth fund

Energy News Beat [[{“value”:” Nearly all flows from Russia to the bloc stopped earlier this month when Kiev terminated its transit deal with Moscow The loss of Russian gas could cost the EU over €1 trillion ($1 trillion), according to Kirill Dmitriev, chief executive of the Russian Direct Investment Fund (RDIF). Speaking at the Future […]

Greenland responds to Trump’s acquisition proposal

Energy News Beat The Arctic island is ready to cooperate with Washington, but doesn’t want to be part of the US, Prime Minister Mute Egede has said Greenlandic Prime Minister Mute Egede has rejected Donald Trump’s proposal to buy the Arctic island, asserting that Greenlanders do not want to be Americans. However, the Danish autonomous […]

Russian oil product exports shoot up – Bloomberg

Energy News Beat [[{“value”:” Fuel shipments have hit an 11-month high driven by diesel and fuel oil, the outlet has said   Russia’s refined fuel exports have surged to their highest level in nearly a year, even as the US imposed new sanctions on the country’s energy sector last week, Bloomberg reported on Thursday. Seaborne […]

Houthi leader warns Israel to stick to ceasefire terms

Energy News Beat Yemeni Armed Forces The leader of Yemen’s Houthis, Abdul Malik al-Houthi, has said his group will monitor the implementation of a ceasefire deal between Israel and Hamas and will continue its attacks on ships in the Red Sea if it is breached. The six-week phase one of the ceasefire agreement between Israel […]

Norway’s new maritime monitoring microsatellite starts operations

Energy News Beat EuropeTech NOSA Norway is leading Europe when it comes to ways to keep track of merchant shipping passing near its shoreline. Canada’s Space Flight Laboratory (SFL) has recently launched and deployed Norway’s NorSat-4 maritime monitoring microsatellite. The seventh spacecraft developed for the Norwegian Space Agency (NOSA) by SFL, NorSat-4 carries a fifth-generation […]

Marcura buys VesselMan

Energy News Beat EuropeTech Wallenius Wilhelmsen Skagerak Capital has sold maritime software provider VesselMan to Marcura for an undisclosed sum.  In partnership with Møkster and Grieg as co-investors, Skagerak Capital scaled VesselMan’s operations. VesselMan provides cloud-based platform for managing technical projects such as dry-dockings, inspections, and refits. Founded in 2001, Dubai-headquartered Marcura’s enterprise suite includes […]

Beijing dismisses US shipbuilding probe

Energy News Beat CSSC China’s commerce ministry on Friday dismissed a US investigation targeting China’s shipbuilding, maritime and logistics sectors, describing it as marked by “unilateralism and protectionism”. The US Trade Representative’s (USTR) office on Thursday said it has found China’s targeted dominance of the global shipbuilding, maritime and logistics sectors is “unreasonable” and is […]

Trafigura hails world’s first co-loaded ammonia and propane shipment

Energy News Beat Screenshot Multinational trader Trafigura, in collaboration with CF Industries, the world’s largest producer of ammonia, has completed the world’s first co-loaded ammonia and propane shipment operation of its kind.  In early January, the Green Power medium gas carrier (MGC) completed a single voyage from the US to Europe loaded with ammonia from […]

Greece’s Diligent now a pureplay supramax owner with sale of last handy

Energy News Beat Dry CargoEurope Greek dry bulk owner Diligent Holdings has sold its last handysize and now is focused on just the supramax sector.  Medsea from Lebanon has paid $10m to take the 2007-built, 35,000 dwt Bliss bulk carrier (pictured) leaving Athens-based Diligent with a fleet solely made up of Japanese and Japanese-affiliated supramaxes. Diligent […]

The Fed Needs to Watch Out: Amid Strong Demand from our Drunken Sailors, Retail Sales Surged in Late 2024 and Inflation Caught its Second Wind

Energy News Beat By Wolf Richter for WOLF STREET. Retail sales rose by 0.45% in December from November (+5.5% annualized), and November and October were revised higher – October from +0.46% to +0.56%, and November from +0.69% to +0.77% – and it’s on top of these upwardly revised sales that December sales grew by another 0.45%, all seasonally adjusted. […]