The deal will grant Trafigura access to output from two large oil clusters that are expected to start exporting crude from 2024

Environmental groups blast the new rules on restrictions of HFO use and carriage in the Arctic Sea, which come into effect in mid-2024 with exemptions until mid-2029, but governments stand firm in their support of the regulations

Melting Arctic ice has long tempted shipping with its potential to slash travel times, costs and emissions between Europe and Asia. But its punishing logistics, fragile environment and geopolitics make the region’s future far from clear

DSME will deliver six LNG carriers to unidentified European shipowners by July and December 2023. The client has been reported as Russian gas producer Novatek

The action comes as other nations step up their interest in the Arctic, especially the US and UK, which seek to keep the region’s waters free of domination by any single country

The Russian partners confirm orders for another 10 LNG carriers to service the upcoming Arctic LNG 2 exporting facility, raising the total number of ships to 15