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Europe’s Growing Fleet Of Floating Gasoline

April 7, 2018 by Reuters

Europe’s Growing Fleet Of Floating Gasoline

by Libby George, Ahmad Ghaddar (Reuters) - Gasoline stored in ships off Europe’s coast has ballooned to more than 400,000 tonnes, putting pressure on the continent’s traders to compete for buyers once summer demand starts. Several vessels have joined the three initially booked to store fuel off Europe’s ports in mid-March, and brokers said even barges have held cargoes of … [Read more...]

Oil Traders Hoard Less on Ships Near Singapore as Market Flips

October 9, 2017 by Bloomberg

Oil Traders Hoard Less on Ships Near Singapore as Market Flips

By Serene Cheong (Bloomberg) -- One of the biggest stores of oil at sea is showing signs of emptying out. The volume of supplies held on tankers in the Strait of Malacca in September dropped to the lowest level since August 2016, according to data from cargo-tracking and intelligence company Kpler. The waters off Singapore, Malaysia and Indonesia -- one of the world’s … [Read more...]

In Latest Sign of Crude Glut, Ageing Supertankers Used to Store Unsold Oil

June 16, 2017 by Reuters

In Latest Sign of Crude Glut, Ageing Supertankers Used to Store Unsold Oil

By Keith Wallis and Henning Gloystein SINGAPORE, June 16 (Reuters) - Traders are increasingly storing oil in ageing supertankers in Southeast Asia as they grapple with a supply overhang that has left the system clogged with unneeded fuel despite an OPEC-led drive to cut production to prop up prices. Around 10 very large crude carriers (VLCCs), all between 16 and 20 … [Read more...]

Full Tanks and Tankers: A Stubborn Oil Glut Despite OPEC Cuts

May 19, 2017 by Reuters

Full Tanks and Tankers: A Stubborn Oil Glut Despite OPEC Cuts

By Catherine Ngai NEW YORK/LONDON/SINGAPORE May 19 (Reuters) - After the first OPEC oil production cut in eight years took effect in January, oil traders from Houston to Singapore started emptying millions of barrels of crude from storage tanks. Investors hailed the drawdowns as the beginning of the end of a two-year supply glut - raising hopes for steadily rising per-barrel … [Read more...]

Asia’s Floating Oil Storage Sets Sail as Market Slowly Tightens

February 24, 2017 by Reuters

Asia’s Floating Oil Storage Sets Sail as Market Slowly Tightens

By Mark Tay SINGAPORE, Feb 24 (Reuters) - Traders are selling oil held in tankers anchored off Malaysia, Singapore and Indonesia in a sign that the production cut led by OPEC is starting to have the desired effect of drawing down bloated inventories. Yet in the short-term, the crude released from tankers will weigh on markets and possibly undermine OPEC's goal of … [Read more...]

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  Featured

Panama Canal Tugboat Captains Locked in Heated Dispute with Management Over Safe Manning of Tugs

Panama Canal Tugboat Captains Locked in Heated Dispute with Management Over Safe Manning of Tugs

Butane Leaks After Very Large Gas Carrier and Tanker Collide Singapore -AIS Replay

Butane Leaks After Very Large Gas Carrier and Tanker Collide Singapore -AIS Replay

MAN Diesel & Turbo to Supply Engines for MSC’s Record-Breaking Megaships

MAN Diesel & Turbo to Supply Engines for MSC’s Record-Breaking Megaships

Incident Video: Car Carrier Crunches Tugboat in Durban Harbour

Incident Video: Car Carrier Crunches Tugboat in Durban Harbour

IMO Reaches Deal to Cut CO2 Emissions from Ships

IMO Reaches Deal to Cut CO2 Emissions from Ships

  Video

Incident Video: Tanker’s Hull Punctured by Floating Crane in Iraq

Incident Video: Tanker’s Hull Punctured by Floating Crane in Iraq

Incident Video: Car Carrier Crunches Tugboat in Durban Harbour

Incident Video: Car Carrier Crunches Tugboat in Durban Harbour

Caught on Video: MSC Cruise Ship Crashes Into Dock in the Caribbean

Caught on Video: MSC Cruise Ship Crashes Into Dock in the Caribbean

  Latest News

Photos: Aasta Hansteen Spar Tow-Away from Stord, Norway

Vistula Maersk – New Ice-Class Feeder Vessel Makes Maiden Call in Russia [Photos]

Two Killed in ‘Gas Leak’ Aboard Chinese Bulk Carrier -Reports

  Corporate News

Foss Executive Honored by Coast Guard

Damen Dredging Equipment launches new DOP Dredger Series

Samskip brings Rotterdam into Nor Lines’ flexible LNG-powered service network

ABS Delivers Continued Solid Performance and Remains Well-Positioned for Future, Reports Chairman, President and CEO

Avatars by Sterling Adventures
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