The Prestige was a single-hulled Liberian-owned oil tanker, operating under a Bahamian flag, which sank off the coast of Galicia, Spain on 19 November 2002 after suffering a catastrophic hull failure.
The resulting oil spill, estimated at some 20 million gallons of heavy fuel oil, wreaked havoc along coastlines of Spain, France, and Portugal. The spill was the largest environmental disaster in the history of both Spain and Portugal.
In August, the American Bureau of Shipping, the classification society that certified the vessel as seaworthy, was cleared in the case.
President Donald Trump said Tuesday he has directed the U.S. government to provide political risk insurance and financial guarantees for maritime trade transiting the Persian Gulf, while signaling that U.S....
A shipowner’s once-in-a-generation wager on oil tankers has made it so powerful that it controls an overwhelming majority of supertankers that can collect American oil next month.
VLCC charter rates have pushed back into six-figure territory, with DHT Holdings (NYSE:DHT) securing a one-year time charter at $105,000 per day for the 2011-built DHT Redwood — one of the highest publicly disclosed fixtures of...
February 24, 2026
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