Ports are eyeing nuclear power. A British Ports Association and Lloyd's Register paper says a single 100 MWe-class SMR could power a medium-sized port plus several industrial tenants as electrification drives demand. #Nuclear#SMR#Shipping
China's refiners are buying West African and Brazilian crude for December, paying premiums of up to $20 a barrel over Brent, as freight rates ease from October's record highs and Iranian barrels vanish from the market. #China#Crude#Oil#Shipping
Saudi shipping giant Bahri posted Q3 net profit of $1.36B, ten times the $137M a year earlier, as Hormuz disruption pushed oil tanker rates to record highs and tied up supertankers in long waits. #Oil#Tankers#Shipping#Hormuz
Fuel oil is Asia's next cost shock. Singapore's HSFO crack to Dubai topped $10/bbl in mid-October, up from a $5 discount in February, as Gulf and Russian supply losses push the fuel above the crude it comes from. #FuelOil#Shipping#Oil#OOTT
Freight is adding a hidden cost to oil: shipping about 2M barrels from the US to Japan on a VLCC could cost roughly $81M, or $40.50 a barrel, versus about $9M a year ago. Record tanker rates are reshaping crude flows. #Oil#Tankers#Shipping#OOTT
