Trump plans no exemption for oil imports under new tariff plan, sources say

U.S. President-elect Donald Trump does not intend to spare crude oil from his planned 25% import tariffs on Canada and Mexico, sources told Reuters on Tuesday, as the oil industry warned the policy could hurt consumers, industry and national security.

Canada and Mexico are the top sources of U.S. crude oil imports, together accounting for around a quarter of the oil U.S. refiners process into fuels like gasoline and heating oil, according to the U.S. Department of Energy.

The U.S. and Canadian oil industries had been optimistic that Trump’s broad plans for protectionist trade measures would spare oil imports because many U.S. refineries rely on the two countries and have equipment designed to process their oil types.

Two sources familiar with Trump’s plans said that oil would not be exempted from the plan. They asked not to be named due to the sensitivity of the issue.

America’s top oil trade groups, meanwhile, said imposing the tariffs would be a mistake – exposing a rare moment of discord between the industry and Trump.

“Across-the-board trade policies that could inflate the cost of imports, reduce accessible supplies of oil feedstocks and products, or provoke retaliatory tariffs have potential to impact consumers and undercut our advantage as the world’s leading maker of liquid fuels,” said a spokesperson for the American Fuel and Petrochemical Manufacturers group, which represents oil refiners.

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Lloyd’s Register completes acquisition of Ocean Technologies Group | Rig Jobs

Lloyd’s Register Group (LR), a global provider of maritime professional services and digital solutions, has completed the acquisition of Ocean Technologies Group (OTG), a leading trusted provider of human capital management and operational software dedicated to the global maritime industry, from European private equity firm Oakley Capital.

This follows the acquisition of OneOcean (OO) in 2022, and the purchase of a 50 per cent stake alongside the International Chamber of Shipping (ICS) in ISF Watchkeeper in 2023.

By combining with LR OneOcean and OTG, LR is now poised to deliver unparallelled value, enhanced safety and drive sustainable growth for clients and the sector as a whole.

OTG provides critical training, compliance, operational and HR software to more than 1,000 shipowners and operators and more than one million seafarers around the world. This acquisition means that LR will now be able to offer these solutions across a combined fleet of over 30,000 vessels across the globe.

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Maersk to move operations from major port | Ship Jobs

A major container shipping company has announced it will no longer use the Port of Felixstowe for its larger vessels from next year.

Maersk said the changes would take effect in February following a review of its Asia-Europe shipping routes.

The firm said it had concluded the London Gateway on the Thames estuary in Essex was “the most optimal port to serve our customers” in the UK.

It said it expected to share further details “over the next couple of weeks”.

In a statement on its website, Maersk said the changes were part of the Gemini Co-operation, which is a review of its network carried out with the Hapag-Lloyd shipping company.

“During this optimisation process… we have concluded that London Gateway is the most optimal port to serve our customers importing/exporting cargo to/from the UK,” it said.

“Due to this change, Felixstowe will not be a part of Maersk and Hapag-Lloyd’s shared Gemini network.

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With Syroco, Socatra reduces fuel consumption and emissions of Alcyone

Socatra, a leading provider of oil shipping services, and Syroco, the Climate Tech startup that supports the energy transition of maritime transportation, unveiled today performance data obtained from the first months of deployment of Syroco’s travel optimization solution on M/T Alcyone.

Owned by Socatra and chartered by Total Energies, Alcyone is a 183-metre tanker sailing under French flag and operating on transpacific routes. Built in 2022, the ship was equipped at the beginning of 2024 with two Rotor Sails from manufacturer Norsepower. Concomitantly with this installation of wind propulsion assistance, the shipowner and charterer deployed Syroco to help crews optimise routes and vessel operational parameters based on weather conditions, maximizing the performance of wind assistance.

Amplification of the effectiveness of wind propulsion

Hector Firino Martell, Fleet Manager of Socatra, said: “The use of Rotor Sails introduces complexity into voyage definition. The routing of Alcyone involves advanced calculations in order to make the most of the wind while taking into account waves, swell and currents. The Syroco platform, thanks to its high fidelity digital twins and its simulation power, enables the crew to take advantage of the weather conditions, amplifying the efficiency of the propulsion systems.”

Beyond the real-time routing provided to crews, the Syroco platform provides accurate data on the performance gains produced respectively by the use of the wind assistance and by adhesion to an optimised route. This data, which varies from one voyage to another, makes it possible to evaluate the impact of these technologies in a global and objective manner and to calculate their return on investment.

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Asia Distillates-Paper activity picks up; Dec outlooks mixed | Maritime Crew

Asia’s middle distillates markets for the week were trading in a tight range, though physical December cargoes remained heavily discussed and Friday paper trades in full swing.

Paper trading activity on the window picked up on the last trading day for November cargoes, reversing the early week’s tepid activity.

Term negotiations came into full play, with at least one more major refiner in Taiwan offering their sale cargoes for next year loading. Discussions were mostly at premiums of 10-30 cents a barrel so far, multiple trade sources said.

December market outlooks remained mixed in the spot market, as evidenced by the differing price discussion levels, with refiners’ spot sales done at premiums in the early week but the market falling to slight discounts in the two trading sessions.

On the jet fuel front, discussions remained muted as sellers were still missing in action from December spot sales, despite a healthy regrade value, one source said.

Refining margins for 10ppm sulphur gasoil were around 50 cents higher week on week, closing the trading week at around $15.4 a barrel.

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ENGINE: East of Suez Bunker Fuel Availability Outlook | Crewing Assistance

 Singapore and Malaysia

Bunker demand has risen in Singapore this week, according to a source. VLSFO availability remains tight, with recommended lead times of around 11 days. Some suppliers can fulfil orders with shorter lead times of around five days, though these typically come at a higher cost.

HSFO supply is also limited, requiring lead times of 7–14 days, similar to last week. By contrast, LSMGO is more available, with steady lead times of 5–8 days.

Data from Enterprise Singapore shows Singapore’s residual fuel oil stocks have averaged 7% higher this month compared to September. Fuel oil imports have surged by 48%, adding 2.33 million bbls, while exports have risen by 991,000 bbls, leading to a stock buildup. Middle distillate stocks in the port have dropped by 10% this month, reaching 9.60 million bbls—the lowest since June.

At Malaysia’s Port Klang, VLSFO and LSMGO supplies are ample, with some suppliers offering prompt delivery for smaller volumes, though HSFO availability remains tight.

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Asia Distillates-Dec spot liquidity rises; demand worries prevalent | Sea Vessel Jobs

Asia’s middle distillates markets saw more December discussions during the week, though cautiousness on demand remained prevalent and prices trended sideways, with offers for next year’s term cargoes also available.

For diesel, offers for December gradually emerged from the region’s several key refiners in line with earlier expectations, with spot discussions picking up slightly.

Uncertainty on demand, however, stayed a key driver, with only Vietnam’s Petrolimex seeking early December cargoes this week and Indonesia’s Pertamina still buying end-November.

The latter has so far bought around 1.7 million barrels for November delivery, one trade source said, adding there is no further clarity on their December requirements yet.

Supplies are likely to rise in December, after maintenance in South Korea end and some refiners consider ramping up production, so demand has to come up to soak up all the increments, a second source said.

Jet fuel markets were mostly on a decline through the week, as some China majors are likely to have sufficient export quotas for the refueling of flights on international routes in the next two months.

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Freight Investor Services launches enhanced FIS Live App V2 | Marine Vacancies

Freight Investor Services (FIS), a world-leading brokerage and service provider in freight and commodity derivatives, is excited to announce the launch of the second generation of its innovative FIS Live application.

The FIS Live App V2 brings substantial advancements, now offering real-time pricing across over 15 freight and commodity markets on multiple global exchanges. This new version has been engineered to provide faster, more intuitive access to the latest market data, enhancing the decision-making process for clients worldwide.

John Banaszkiewicz, CEO & Founder of FIS, commented:

“The launch of FIS Live App V2 marks a significant milestone for our company. We’ve introduced valuable upgrades that we believe will enhance our clients’ experience, offering a powerful tool that brings comprehensive market insights directly to their fingertips. The app embodies our vision: from our desks to your desk.”

Designed to meet the needs of the modern market, the app aggregates thousands of data points collected daily by FIS’s global network, providing users with a precise, real-time snapshot of market movements. Backed by FIS’s 24-hour global office network, the app ensures continuous coverage, helping clients stay ahead of market trends.

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