COSCO Supertanker Wins Temporary U.S. Waiver

SINGAPORE, Oct 16 (Reuters) - A supertanker owned by COSCO Shipping Tankers (Dalian) has received a temporary waiver from U.S. sanctions that has allowed the ship to discharge crude oil cargoes, a source with direct knowledge of the matter said on Wednesday. The Very large crude carrier (VLCC) Coswisdom Lake, which discharged some crude in Singapore last week, offloaded its … [Read more...]

U.S. ‘Deeply Concerned’ About Chinese Tankers Going Dark

By Timothy Gardner and Arshad Mohammed WASHINGTON, Oct 16 (Reuters) - The White House is warning Chinese shipping companies against turning off their ships' transponders to hide Iranian oil shipments in violation of U.S. sanctions, two senior administration officials said. "We've been messaging very heavily to the shipping companies, you don't want to do this, it's not worth … [Read more...]

Phillips 66 Charters Supertanker for Record $14 Million as Rates Surge

NEW YORK, Oct 10 (Reuters) - Phillips 66 tentatively chartered a supertanker to ship U.S. crude from the U.S. Gulf Coast to South Korea for a record $14 million this week, sources said Thursday, as tanker rates continued to soar after U.S. sanctions on units of Chinese giant COSCO. Phillips 66 provisionally chartered the Very Large Crude Carrier (VLCC) Olympic Laurel for $14 … [Read more...]

COSCO Unit’s Tanker Delivers Oil to Exxon in Singapore

By Florence Tan and Shu Zhang SINGAPORE, Oct 10 (Reuters) - A supertanker owned by a subsidiary of COSCO Shipping Tanker (Dalian), under U.S. sanctions for allegedly transporting Iranian oil, has docked in Singapore to discharge Middle East crude, shipping data on Refinitiv Eikon showed on Thursday. The Coswisdom Lake, a very large crude carrier (VLCC) capable of holding 2 … [Read more...]

COSCO Tankers Go Dark Amid U.S. Sanctions

By Shu Zhang and Roslan Khasawneh SINGAPORE, Oct 9 (Reuters) - About one-third of the oil tankers owned by COSCO Shipping Tanker (Dalian) have shut off their ship-tracking transponders since the United States imposed sanctions on the company for allegedly shipping Iranian crude, shipping data showed. From Sept. 30 to Oct. 7, a total of 14 COSCO Dalian ships, six of which … [Read more...]