Jack Wittels

England

Oil, shipping, climate journalist at Bloomberg @business. Opinions mine, retweets&likes≠endorsements. Follow weblink below & hit 'follow' for stories via email.

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Articles

Dozens of Sailors Still Stuck Off Yemen After Weeks of Strikes

6 days ago | bloomberg.com | Jack Wittels

Destruction at the port in Hodeida in Yemen, on May 6. (Bloomberg) -- President Donald Trump’s announcement this week that the US would stop bombing Yemen’s Houthi rebels should have been good news for the dozens of seafarers who’ve been stuck off the country’s coast for weeks. But the reality is much less certain.
What Trump’s New Port Fees Mean for Chinese Shipping and World Trade

2 weeks ago | bloomberg.com | Jack Wittels |Weilun Soon

A container ship docked at the Port of Oakland in California. (Bloomberg) -- The US plans to start charging large Chinese ships millions of dollars to call at its ports, deepening the trade war between the world’s two largest economies. China is one of the biggest players in global shipping, so a significant portion of the merchant fleet that carries more than 80% of world trade needs to grapple with the changes.
Gasoline-Making Unit at Dangote Refinery Is in Maintenance

2 weeks ago | bloomberg.com | Jack Wittels |Prejula Prem

The Dangote Industries oil refinery in Lagos. Photographer: Benson Ibeabuchi/Bloomberg(Bloomberg) -- A large fuel-production unit at Nigeria’s Dangote oil refinery is undergoing maintenance, according to a person familiar with the matter. A Dangote spokesman denied that the unit, a so-called residue fluid catalytic cracker, was under maintenance. He said the plant was loading fuel onto trucks daily, including at least 21 million liters on Friday. Truck shipments feed Nigeria’s domestic market.
German Heating Oil Dealer Enjoys Record Orders After Crude Drop

3 weeks ago | bloomberg.com | Rachel Graham |Jack Wittels

Heating oil delivered to a home near Frankfurt. (Bloomberg) -- A German online heating oil platform registered record fuel sales on the day that crude prices plunged to a four-year low earlier this month. The Heizoel24 sales platform handled the highest volume on April 9 for any day since it started operations 20 years ago, Managing Director Oliver Klapschus said Wednesday. The volume of heating oil sold that week was six times the normal level, he said.
Refiners Get Bottom-of-the-Barrel Boost as Mideast Summer Looms

4 weeks ago | bloomberg.com | Jack Wittels |Nicholas Lua

(Bloomberg) -- One of the oil market’s dirtiest fuels is giving many refiners’ margins a boost as the industry contends with a weaker demand outlook. High-sulfur fuel oil — a gloopy substance used in power generation and as ship fuel — is the strongest it’s been for the time of year against crude since 2020 in Europe and since 2022 in Singapore, according to figures from commodity data provider General Index.
UN Regulator Approves Rules to Make Ships Pay For Emissions (1)

1 month ago | news.bloomberglaw.com | Jack Wittels

Shipping’s international regulator agreed new rules to slash the industry’s future greenhouse gas emissions, paving the way for the end of oil as a maritime fuel in the decades to come. The UN’s International Maritime Organization approved draft amendments to MARPOL Annex VI — the main treaty on preventing air pollution from ships — that will force the industry to reduce and pay for at least some of its emissions.
Landmark Climate Regulation Approved by Shipping's Global Regulator

1 month ago | bloomberg.com | Jack Wittels

Oil tankers off the coast of Port-de-Bouc, France. (Bloomberg) -- Shipping’s international regulator agreed new rules to slash the industry’s future greenhouse gas emissions, paving the way for the end of oil as a maritime fuel in the decades to come. The UN’s International Maritime Organization approved draft amendments to MARPOL Annex VI — the main treaty on preventing air pollution from ships — that will force the industry to reduce and pay for at least some of its emissions.
Ship Rates for LPG Plunge as China Slaps 84% Tariff on US Supply

1 month ago | bloomberg.com | Jack Wittels |Bill Lehane

(Bloomberg) -- The cost of transporting liquefied petroleum gas from the US Gulf to Asia — a boom trade for American producers of the fuel — collapsed after China pressed ahead with 84% tariffs on the cargoes. LPG, as it’s known, was among an array of US goods upon which Chinese authorities ratcheted up tariffs on Wednesday. Based on a prior announcement, cargoes already on the water look set to be exempt, but those leaving after midday Thursday China time will be affected.
US Exits Talks on Shipping Carbon Charge, Threatens Measures (2)

1 month ago | news.bloombergtax.com | Jack Wittels

The US abandoned global talks aimed at cutting shipping’s carbon emissions and threatened to reciprocate against any fees that the country’s merchant fleet incurs if such an initiative proceeds. The UN’s shipping agency, the International Maritime Organization, is meeting in London this week with a goal of agreeing some sort of carbon charge for the maritime sector.
US Exits Talks on Shipping Carbon Charge, Threatens Measures (2)

1 month ago | news.bloombergtax.com | Jack Wittels

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