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With ships unable or unwilling to transit the Strait of Hormuz, producers cannot export,ÌýsupertankerÌýcosts are skyrocketing and storage at many Persian Gulf refineries is filling up fast.Ìý

Some carriers are canceling bookings temporarily, skipping some port calls, warning of delays and implementing surcharges to transport containers through the conflict zone.Ìý

A shipowner’s once-in-a-generationÌýwagerÌýon oil tankers has made it so powerful that it controls an overwhelming majority of supertankers that can collect American oilÌýnext month.

Sinokor’s aggressive buying has spooked the market, traders say, in turn dramatically driving up the cost of freight as nervous charterers rush to book spaceÌýin case prices rise further in the future due to the concentrated ownership.

Daily earnings toÌýtransport crudeÌýon key routes have seen the biggest jump this year, up 467%. Freight costs typically dip at year-end due to seasonal weakness in demand.

Countries at anÌýIMO gathering in London voted to push back for a year a decision on whether to make ships start paying for the more than 1 billion tons of greenhouse gases they emit each year.Ìý

Nations are at an International Maritime Organization meeting in London to decide on landmark regulations to make vesselsÌýstart payingÌýfor their greenhouse gas emissions.

The International Maritime Organization will this week decide on sweeping new rules to make the sector start paying for the more than 1 billion tons of greenhouse gases it emits each year.

The pilot, though modest — about 12 vehicles — places the GM vans among a fleet that includes vehicles built by Ford, Mercedes-Benz, Stellantis and Rivian.

Amazon.com's carbon emissions rose for the first time in three years in 2024, driven by data center construction and fuel consumption by its delivery providers.