Thursday, January 28, 2021

Trafigura Boosted Tanker Fleet By 70% During 2020’s Historic Oil Contango

By Andy Hoffman (Bloomberg) — Trafigura Group boosted its shipping fleet by 70% in April last year to profit from the wild price swings in the oil market caused by the...

January 28, 2021
Total Views: 1592

Wednesday, September 16, 2020
Oil Tanker Bridge
Maritime News

Demand to Store a Glut of Diesel at Sea is Rising Fast

By Jack Wittels and Prejula Prem (Bloomberg) –Big oil traders are rushing to book tankers with a view to storing a glut of refined petroleum like diesel and jet fuel...

September 16, 2020
Total Views: 44

Friday, September 11, 2020
Maritime News

Oil Traders Snap Up Tankers in Sign of Second-Wave Contango

By Sheela Tobben and Javier Blas (Bloomberg) –Some of the world’s biggest oil traders are getting ready for the possible resurgence of a coronavirus-induced glut of crude and fuels, snapping...

September 11, 2020
Total Views: 65

Thursday, September 10, 2020
oil tanker photo
Maritime News

BP Books Tanker for Storage at Lowest Rate This Year

By Florence Tan and Roslan Khasawneh SINGAPORE, Sept 10 (Reuters) – Oil major BP has provisionally chartered a supertanker to store crude oil off Malaysia at this year’s lowest rate...

September 10, 2020
Total Views: 75

Friday, July 24, 2020
Maritime News

Oil Trading Profits Soar for Energy Majors Who Made Storage Bets

By Javier Blas and Lars Erik Taraldsen (Bloomberg) –In March and April, as oil prices plunged to their lowest in a generation, Norwegian energy giant Equinor ASA was busy doing...

July 24, 2020
Total Views: 27

Tuesday, April 21, 2020
Oil Tanker Bridge
Maritime News

Floating Oil Storage Grows Off California Coast

By Robert Tuttle (Bloomberg) — Oil tankers carrying enough crude to satisfy 20% of the world’s consumption are gathered off California’s coast with nowhere to go as fuel demand collapses. Almost...

April 21, 2020
Total Views: 33

Friday, April 17, 2020
tanker at sea
Maritime News

Crude Storage at Sea Hits New Record at 160 Million Barrels – Sources

By Jonathan Saul LONDON, April 17 (Reuters) – Traders are storing an estimated record 160 million barrels of oil on ships – double the level from two weeks ago as...

April 17, 2020
Total Views: 35

Monday, April 13, 2020
oil tanker
Maritime News

Business of Shipping: What’s Happening with VLCC Storage?

By Ira Breskin – Moderate production cuts announced Sunday by the world’s major crude oil producers should reduce what has been the critical need for floating storage used to warehouse...

April 13, 2020
Total Views: 163

Monday, April 6, 2020
oil tanker loading
Maritime News

The Most Profitable Trade: ‘Oil All Over the Oceans Right Now’

By Javier Blas and Alex Longley (Bloomberg) –To outsiders, the oil trade of the day is so astonishing that even President Donald Trump sounded flabbergasted when he described it. “There’s oil...

April 6, 2020
Total Views: 91

Wednesday, April 1, 2020
oil tanker
Maritime News

Oil Storage at Sea Approaching 2009’s Record Levels

By Jonathan Saul LONDON, April 1 (Reuters) – Oil traders are storing as much as 80 million barrels of oil on tankers at sea, with further ships being sought as...

April 1, 2020
Total Views: 19

Monday, March 30, 2020
vlcc tanker
Maritime News

Tanker Rates Double as Oil Contango Spreads

By Roslan Khasawneh SINGAPORE, March 30 (Reuters) – Supertanker freight rates are on the rise for a second time this month as producers, refiners and traders scramble to secure ships...

March 30, 2020
Total Views: 178