The P&I insurance that Gatik lost is important for vessels when they enter ports or sail through key waterways like Turkey’s ardanelles shipping straits.

Electricity prices have surged, ships hauling fuel have diverted from the country’s shores, and the nation has burned through natural gas stockpiles.

A staggering 93% of chemical companies claim freight transportation and supply chain disruptions have affected them negatively.

The move by the Netherlands would apply to both spot and long-term contracts. The nation is a transit country for gas supplies, meaning that the decision could have a broader European impact. 

If automakers embrace electric vehicles, they could account for 67% of new light-duty vehicle sales and 46% of new medium-duty vehicle sales in 2032.

Clearance was given after claims that the cargo was from Kazakhstan, but data intelligence firms Vortexa and Kpler showed it originated from Russia.

The lack of a West Coast labor contract between the ILWU and the PMA could be “dangerous” and “permanent,” executive director Friedmann warned.

With the capability to produce and store liquified hydrogen where and when it is needed, the tipping point has been reached and the hydrogen economy is here. 

The production cuts will probably lead to a real loss in supply and tighten global oil markets because those doing the cutting are largely pumping at their quotas.

France released strategic stockpiles of oil products in March to avoid fuel shortages as the strikes blocked fuel movements from many local refineries.