Wilhelmsen Ship Management (WSM) and Affinity Shipping signed a Memorandum of Understanding (MOU) to establish an independent company that will provide compliance services related to the EU ETS (European Union Emission Trading System).When created…

International trade by sea has long been a key part of the world economy and approximately 90% of traded commodities is reliant on shipping. Once wind-propelled in the days of sail, the current generation of ships now heavily rely on fossil fuels.

Brazilian President Luiz Inacio Lula da Silva said on Monday his government would promote recovery in the country's shipbuilding and oil and gas sectors, with more investment from state-run oil firm Petrobras SA  and development bank BNDES.

The European Union's full embargo of Russian oil products came into effect on Feb. 5, but data from traders and Refinitiv show that the bulk of Russia's fuel oil and vacuum gasoil (VGO) is already being shipped to other regions, mostly in Asia.In January…