Teekay Corporation (NYSE:TK) and König & Cie are pleased to announce that Diamond S Shipping Group has joined the Gemini Tankers Suezmax Pool as a full member. The Gemini fleet [...]
SINGAPORE (Dow Jones)–Norwegian oil major Statoil ASA (STL.OS) has chartered a vessel to ship North Sea Forties crude oil to Asia, in what could be at least the fourth arbitrage [...]
MONACO – Scorpio Tankers Inc. (NYSE: STNG) announced that it has signed a contract with South Korea’s Hyundai Mipo Dockyard Co. (HMD) to construct a 52,000 DWT Medium Range (MR) product [...]
Oil tanker giant, Frontline Ltd., announced today that the company’s restructuring has been approved by the Board of the Company will be put forward to creditors and counterparties for approval within the [...]
Four VLCC tanker owners announced Tuesday preliminary plans to team up in an effort to cut costs amid slumping tanker rates. The four partners included in the deal are Phoenix [...]
General Maritime Corp. (GMR) voluntarily filed for Chapter 11 bankruptcy and reached agreements with key senior lenders for a financial restructuring that will allow the oil-tanker company’s operations to continue. [...]
This incredible image sequence was captured by Ron Wheeler this morning on board the Mykonos, a new drillship owned by OceanRig. Doesn’t get much closer than this… And on that [...]
SINGAPORE (Dow Jones)–Asia’s petroleum tanker markets will likely stay anemic due to persistent oversupply, though falling bunker prices could support charterers’ bottom lines. With China’s weeklong National Day holidays coming [...]
LONDON (Dow Jones)–A growing number of oil tankers are dropping anchor rather than shipping crude to market as the rate of ship construction outpaces global oil demand, prompting concern about [...]
Image courtesy Frontline Oslo-listed oil tanker giant Frontline Ltd. (FRO.LN) Friday said it swung to a $35.24 million net loss in the second quarter, from a year-earlier profit of $81.31 [...]
Spread Between Futures Contracts Makes Stashing Crude Offshore Attractive LONDON (Dow Jones)—Storing oil in tankers offshore is on the rise again in the U.S. Gulf of Mexico, a sign of [...]
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