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AXSMarine reports that despite the overall decline, orders for less polluting cargo vessels are holding share.
AXSMarine data showed that 37% of orders for cargo vessels in 2025 were for cleaner fuel-burning vessels, the same as the previous year, because buyers are uncertain when the global regulations for cutting maritime emission will come into effect. AXSMarine's data shows that the total gross tonnage, a measure of vessel capacity used by the industry, was 78 million tons from January through October. This is down from 113 millions tons in the same period last year. AXSMarine data showed that orders for 2024 reached a record high of 17 years after ships were rerouted in order to avoid Houthi attacks in the Red Sea. This required more ships to be used to maintain schedules during the longer journeys. Operators also prepared for the new environmental regulations set by the United Nations standard-setting body for international shipping. AXSMarine's data shows that orders for alternative fuel vessels were down to 29 million GT from 42 million GT during the same period last year. The uncertainty was heightened again last month, when under pressure from delegates of the United States and Saudi Arabia - member countries of U.N.'s International Maritime Organization - voted to delay for one year a vote that would have set global targets to reduce carbon emissions and punish or reward adherence. Alexander Hadzhigaev is AXSMarine’s vice president for data. He said that the IMO’s Net-Zero Framework has been delayed. "A 'wait-and-see" approach seems to be the most likely outcome, he added. About 80% of the world's trade is transported by maritime shipping. The shipping industry is responsible for 3% of the climate-warming, greenhouse gases. This percentage will continue to rise without any curbs. Maersk, Hapag-Lloyd and other major container shipping lines have announced that they will continue to reduce carbon emissions from their vessels. Hadzhigaev stated that more than 70% of the container ships and vehicle carriers ordered from January to October were alternative fuel capable. Bulkers and tankers only accounted for 10-15%, while Hadzhigaev noted that bulkers and tanks accounted for less than 10%. Liquefied Natural Gas (LNG) remained the most popular alternative fuel. It accounted for 29% of all orders this year. He said that methanol is 9% and ammonia, along with other fuels, represents about 1%. AXSMarine's data shows that methanol is no longer a popular fuel in the container industry. Its share of new orders has dropped from 48% in 2020 to 18% in 2024, and now only 10% in 2025. Fuel availability and costs remain major challenges. (Reporting and editing by Richard Chang; Lisa Baertlein)
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Trump meets Hungary Orban to discuss Russian Oil, Economic Cooperation
The U.S. president Donald Trump invited the Hungarian prime minister Viktor Orban to his White House for a Friday discussion on Hungary's dependence on Russian oil, at a moment when Trump is working to wean countries off it. Orban, who has been a Trump ally for many years, arrived in the White House Friday at noon to have his first bilateral with Trump since the Republican Leader and former New York Businessman returned to office in January. Both leaders share a similar anti-immigration position, but the issue of Russian oil has caused a rift in their relationship. Trump has demanded that European nations cease buying Russian oil as a means to stop Moscow from funding its invasion of Ukraine. Hungary's continued reliance on Russian Energy since the beginning of the conflict in Ukraine 2022 has prompted criticism from several European Union allies and NATO members. Hungarian officials stated in the lead-up to the event that Orban aims at discussing a way to a U.S. - Russia meeting and seeking exemptions from U.S. Energy sanctions. Trump announced last month that he was going to meet Russian President Vladimir Putin at the Hungarian Capital. However, the meeting has been put on hold because Russia refused a ceasefire. Orban said to the Hungarian media before the meeting that he did not expect tough negotiations on sanctions exemptions for Russian oil companies. MTI, the state news agency, reported that Orban had called energy sanctions "serious," and that the "stakes" were "high." He did not expect that the discussions with Trump about this topic would be difficult. MTI quoted Orban as saying: "I know him, he knows myself, we both know the topic, and we just have to come to an agreement." Both leaders will also discuss ways to increase economic cooperation between the United States of America and Hungary. The White House stated that the two leaders will discuss "areas and interests of mutual interest", hinting at possible deals. A White House official stated that "the American people can expect to get more great deals from Prime Minister Orban’s visit, spanning different industries." Orban, the Hungarian leader who is up for election in 2026 has developed a close relationship with Trump, despite some tensions and Orban's pro China policies. Last month, the U.S. restored Hungary's visa-free status. This was a tangible sign that relations have improved under the Trump administration. Hungary has rejected plans by the European Commission that would phase out EU imports of Russian gas, including liquefied gas, by 2027. This deepens a rift between Brussels and Moscow over the relationship with Moscow. According to figures from the International Monetary Fund, Hungary will depend on Russia for 86% of its oil and 74% of its natural gas in 2024. The Fund also warned that a cut-off of Russian gas across all of Europe could cause Hungary to lose more than 4% of its GDP. S&P, a ratings agency, noted that Hungary is one of Europe's most energy-intensive countries. It also stated that its refineries were built to process Urals crude oil from Russia. It said that gas supplies from Azerbaijan or Qatar could replace Russian supplies, but warned that Hungary’s fiscal and external account remain vulnerable to a shock in the energy market. Steve Holland reported from Washington, Anita Komuves reported from Budapest. Additional reporting was provided by Gergely szakacs, Jeff Mason and Colleen Jenkins.
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Enbridge, a Canadian oil pipeline company, plans a second phase for the Mainline expansion.
Enbridge announced on Friday that it will gauge formal commercial interest early next year in the second phase of capacity addition on its Mainline crude pipe network. The Calgary-based pipeline operator, which is based in Canada, said that if the project proceeds, it will add an additional 250,000 barrels of capacity per day to the Mainline by the year 2028. This would help meet the growing demand from Canadian oil shippers for access to export markets. This project is in addition to the planned first phase expansion. The company will make its final investment decision on this before the end the year. Enbridge stated that the first phase will add 150,000 bpd to capacity, and it is expected to be in service by 2027. Enbridge's third-quarter profits missed estimates on Friday due to higher financing costs resulting from U.S. Gas Utility acquisitions and capital investments. The company reported that its Mainline pipeline - which is capable of moving 3 million barrels of crude oil per day from Western Canada to the markets in Eastern Canada, and the U.S. Midwest - shipped an average record 3.1 millions bpd during the third quarter. This was due to the strong demand for Canadian petroleum. Canada's oil-sands sector has shown resilience in the face of the downturn in the global oil industry. Years of investment have helped to make it one the most cost-effective basins in North America. Enbridge predicts that the Canadian oil supply will grow by 500,000 to 600,000. The Canadian government has been in discussions with Alberta, an oil-producing province. Alberta wants a new crude oil pipeline to be built alongside a massive project for carbon capture and storage aimed at reducing emissions from oil sands. The private sector has not expressed a willingness to build a pipeline of this kind, but on Tuesday the federal government said that it might scrap an existing cap on oil and natural gas emissions for other measures such as a stronger industrial carbon pricing. Enbridge's Executive Vice President Colin Gruending said that optimizing the Mainline Pipeline is "the fastest and most cost-effective" way to deal with Canada's increasing oil production. He said that if the Canadian government removes some of the regulatory hurdles and policies that have hindered investment into the sector over the past few years, then even more space for pipelines could be needed. Gruending stated that there could be a lot more value in the north of Alberta, if it were to be monetized. Enbridge's liquid pipelines unit reported a core adjusted profit of C$2.31 ($1.65 billion), down from C$2.34 a year ago, mainly due to the lower contributions from Flanagan South & Spearhead Pipelines. According to LSEG, the company reported an adjusted profit per share of 46 Canadian Cents for the quarter ending September 30. This was below analysts' expectations of 51 Canadian Cents per share.
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Shipping company MSC suspends Mali service over fuel and security concerns
MSC, a Swiss transport company, has announced that it will no longer accept bookings for Mali because of security concerns and a fuel shortage caused by a blockade imposed on the country by militants linked to al Qaeda. The Jama'at Nusrat al-Islam wal-Muslimin's (JNIM's) two-month-old blockade of fuel on the landlocked West African nation has almost paralysed Bamako's capital. The group attacked fuel tankers trying to reach Bamako. This was a blow to the military-led regime and raised fears that the jihadists could try to establish their rule. MSC posted a statement on its website Thursday stating that road transport for cargo bound for Mali was temporarily suspended due to safety concerns and fuel shortage. The French shipping company CMA CGM announced on Thursday that its overland transportation had been "heavily affected in terms of transit times and costs", due to Mali's fuel shortage and security problems. After meeting officials from the Mali transport ministry, it reversed its decision to suspend cargo shipment. France became the latest Western nation to urge its citizens to leave Mali on Friday. Similar notices have been issued by the U.S.A., Britain, and Italy. Reporting by Mali Newsroom Written by Robbie Corey Boulet Edited by Ros Russell
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Brazil investigates threats to the power grid of COP30's host city after deadly Rio raid
A document obtained by revealed that the Brazilian authorities were investigating a threat made against a substation of a city hosting the United Nations Climate Summit. The report may have links to a gang which was the target of a deadly raid by police last week. Brazil hosts world leaders for a summit in Belem ahead of the COP30 Climate talks. This comes a week after Rio Police targeted the Comando Vermelho gang, resulting in 121 deaths, causing concern among U.N. experts. Verene Energia - the company that manages the Belem - Marituba substation notified Brazil's Mines and Energy Ministry on October 30, two day after the raid – of a threat by someone identifying himself as a Comando Vermelho member. Documents showed that the individual requested the immediate suspension and daily interruption of operations at the Marituba Substation starting at 3 pm local time. Verene Energia informed the Mines and Energy Ministry that "this incident demonstrates a imminent and active threat not only to personnel and property but also to continuity of essentail public services, which is further aggravated due to the proximity of COP30". The company didn't immediately respond to our request for comment. Comando Vermelho was founded in Rio five decades ago, but has expanded into other Brazilian states, including the Amazon region, in search of new routes for drug and weapons trafficking. The police said that gang leaders from different states were involved in last week's deadly raid on Rio. The Brazilian Justice Ministry announced that it "immediately" initiated an investigation and had referred the matter, upon hearing of the threat against the substation, to the relevant authorities. In a press release, the federal police of the country said that they had launched an investigation to determine whether this was an isolated incident or linked to a criminal group. They also added that security measures were still in place.
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Two Russian oil tankers drop anchor in the sea as a sign that sanctions are hitting sales
The Suez Canal has seen two tankers with around 1.5 million barrels each of Russian Urals crude drop anchor in the sea. This is an indication of the difficulties Moscow faces selling oil following the tightening of Western sanctions last month. According to tracking data provided by LSEG, OilX and LSEG, the vessels Sikar and Monte 1 both carried oil from Russia’s Baltic port Primorsk at the beginning of October. They have remained anchored for more than a week near this canal. The United States, along with the European Union, have tightened sanctions on Russia's oil industry in an effort to force Moscow into peace talks over Ukraine. For the first time, U.S. sanctions have been taken against Russia's largest oil companies, Rosneft, and Lukoil. The two companies together account for about 5% of the global oil supply. Due to this, Russian crude oil is now trading at the steepest discount compared to Brent in Asia for over a year. Indian and Chinese refiners are reportedly cutting their purchases. OilX and LSEG report that the Sikar, which was loaded on October 6, stopped near the entrance to the Suez Canal in the Mediterranean on October 24 and has remained anchored since. Port Said is listed as its destination. According to LSEG the Monte 1, which was loaded on October 7, passed through the canal and is anchored at the Red Sea on October 30. The oil that was carried by the ship could not be identified. Both tankers are flagged Gambia. Glory Shipping HK Ltd manages the Sikar, while Mariam Ship Management Service operates Monte 1. I was unable contact either ship manager to get a comment. These vessels' anchorage demonstrates the increasing logistical and economic strains on Russian oil exports as sanctions deter buyers and complicate shipping routes. Reporting by MOSCOW reporters, with additional reporting from Siyi Liu and Nerijus Adomiaitis in SINGAPORE. Editing by Peter Graff.
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US Airlines scramble for first day of 4% flight reductions
U.S. Airlines scrambled on Friday to cut 4% from flights at 40 major US airports, after the government cut air travel by an unprecedented amount citing safety concerns for air traffic control due to a record-breaking government shutdown. Cuts began at 6 am ET (1100 GMT) and include about 700 flights from the four largest carriers - American Airlines, Delta Air Lines, Southwest Airlines and United Airlines. The cuts, which began at 6 a.m. ET (1100 GMT), affect about 700 flights operated by the four biggest carriers, American Airlines, Delta Air Lines and Southwest Airlines. They are expected to increase to 6% next Tuesday, and to 10% on November 14, if the shutdown continues. International flights are not included in the reductions. AMERICAN AIRLINES: MORE CUTTING WOULD BE a 'Problematic'. Robert Isom, American Airlines' CEO, said that he did not anticipate significant disruptions for customers due to the initial flight reductions ordered by the government. He warned, however, that further cuts could be "problematic." Isom, a CNBC analyst, said: "This level cancellation will grow over time. That's going to be a problem." Since airlines fly less flights on Saturdays, we expect to see fewer cuts. United Airlines reported that half of the affected customers were able rebook within four hours from their original departure. Federal Aviation Administration didn't publish the list until after 7:30 pm. ET on Thursday, less than 12 hour before the cuts went into effect. The Federal Aviation Administration largely dismissed concerns raised by airlines after receiving a draft of the order. The FAA is also slowing flights in order to deal with staffing problems. FAA Administrator Bryan Bedford stated earlier this week that 20-40% controllers did not show up to work any day. During the 38-day record government shutdown, 13,000 controllers of air traffic and 50,000 screeners were forced to work for free. Due to staff shortages, the FAA imposed a ground delay program on Friday that slowed down flights at Reagan Washington National and Austin. FAA also restricts space launches The agency also said it would reject any cuts that disproportionately affected certain communities, and could reduce general aviation flights by up to 10% at airports with high traffic if there were staffing problems. Reporting by David Shepardson. (Editing by David Goodman, Mark Potter and David Goodman)
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Two Russian oil tankers drop anchor in the sea as a sign that sanctions are hitting sales
The Suez Canal has seen two tankers with around 1.5 million barrels each of Russian Urals crude drop anchor in the sea. This is an indication of the difficulties Moscow faces selling oil following the tightening of Western sanctions last month. According to tracking data provided by LSEG, OilX and LSEG, the vessels Sikar and Monte 1 both carried oil from Russia’s Baltic port Primorsk at the beginning of October. They have remained anchored for more than a week near this canal. The United States, along with the European Union, have tightened sanctions on Russia's oil industry in an effort to force Moscow into peace talks over Ukraine. For the first time, U.S. sanctions have been taken against Russia's largest oil companies, Rosneft, and Lukoil. The two companies together account for around 5% global oil supply. Due to this, Russian crude oil is now trading at the steepest discount compared to Brent in Asia for over a year. Indian and Chinese refiners are reportedly cutting their purchases. OilX and LSEG report that the Sikar, a vessel which was loaded on October 6, stopped at the Mediterranean entrance to the Suez Canal in October 24. It has been anchored ever since. Port Said is listed as its destination. According to LSEG the Monte 1, which was loaded on October 7, passed through the canal and is anchored at the Red Sea on October 30. The oil that was carried by the ship could not be identified. Both tankers are flagged Gambia. Glory Shipping HK Ltd manages the Sikar, while Mariam Ship Management Service operates Monte 1. I was unable contact either ship manager to get a comment. These vessels' anchorage demonstrates the increasing logistical and economic strains on Russian oil exports as sanctions deter buyers and complicate shipping routes. Reporting by MOSCOW reporters, with additional reporting from Siyi Liu and Nerijus Adomiaitis in SINGAPORE. Editing by Peter Graff.
Brazil investigates threats to the power grid of the COP30 host after deadly Rio raid
A document obtained by revealed that the Brazilian authorities were investigating a threat made against a substation of a city hosting the United Nations Climate Summit. The report may have links to a gang which was the target of a deadly raid by police last week.
Brazil hosts world leaders for a summit in Belem ahead of COP30 climate talks. This comes a week after Rio Police targeted the Comando Vermelho gang, resulting in the deaths of 121 people. The U.N. experts are concerned. Verene Energia - the company that manages the Belem - Marituba substation notified Brazil's Mines and Energy Ministry on October 30, two day after the raid – of a threat by a person who identified himself as a Comando Vermelho member. A letter was sent to the Justice Ministry.
Documents showed that the individual requested the immediate suspension and daily interruption of operations at the Marituba Substation starting at 3 pm local time.
Verene Energia informed the Mines and Energy Ministry that "this incident demonstrates a imminent and active threat not only to personnel and property but also to continuity of an important public service. This risk is further aggravated due to the proximity of COP30."
The company didn't immediately respond to our request for comment.
Comando Vermelho was founded in Rio five decades ago, but has expanded into other Brazilian states, including the Amazon region, in search of new routes for drug and weapons trafficking. The police said that gang leaders from different states were involved in last week's deadly raid on Rio.
The Brazilian Justice Ministry announced that it "immediately" initiated an investigation and had referred the matter, upon hearing of the threat against the substation. Reporting Ricardo Brito from Brasilia, and Leticia fucuchima from Sao Paulo. Writing by Isabel Teles. Editing by Brad Haynes & Paul Simao.
(source: Reuters)