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

tanker in storm

Oil Tanker Market in Rougher Seas as Supply Surges, Storage Sinks

By Jonathan Saul LONDON, Jan 28 (Reuters) – A plunge in the volume of crude oil stored on ships combined with unexpected cuts from top producer Saudi Arabia have created...

January 28, 2021
Total Views: 4507

Thursday, July 30, 2020
oil tanker loading
Maritime News

Oil Trading Bonanza Saved Shell and Total in Second Quarter

By Laura Hurst, Javier Blas and Francois de Beaupuy (Bloomberg) –The secretive oil-trading businesses of Royal Dutch Shell Plc and Total SE saved both European majors from posting losses in...

July 30, 2020
Total Views: 28

Wednesday, July 29, 2020
Maritime News

Oil Tankers’ Strange Trips Reveal a Stubborn Glut of Diesel

By Ryan Hesketh, Prejula Prem and Jack Wittels (Bloomberg) — For clues about how glutted the global diesel market remains, just look at the bizarre voyages being undertaken by tankers...

July 29, 2020
Total Views: 37

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

Monday, July 20, 2020
lng carrier
Maritime News

LNG Traders Dabble in Floating Storage as Winter Demand Beckons

By Stephen Stapczynski and Anna Shiryaevskaya (Bloomberg) –Liquefied natural gas traders are expected to take a page from the oil market playbook: Storing the fuel at sea while prices languish...

July 20, 2020
Total Views: 49

Wednesday, July 1, 2020
tanker deck
Maritime News

Oil Barrels Come Off the Water as Floating Storage Boom Fades

By Jonathan Saul LONDON, July 1 (Reuters) – Tens of millions of barrels of crude and oil products stored on tankers at sea due to the coronavirus crisis are being...

July 1, 2020
Total Views: 25

Thursday, May 28, 2020
oil tanker
Maritime News

China, India Soak Up Oil From Floating Storage as Demand Recovers

By Shu Zhang and Florence Tan SINGAPORE, May 28 (Reuters) – The volume of crude stored on ships in Asia has come off the peaks seen earlier this month on...

May 28, 2020
Total Views: 28

Friday, May 15, 2020
Maritime News

Floating Storage Shows Signs of Slipping

By Alex Longley, Sherry Su and Javier Blas (Bloomberg) — One of the oil market’s most obvious signs of oversupply — millions of barrels being stored on tankers all over...

May 15, 2020
Total Views: 32

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

Wednesday, March 11, 2020
oil tanker
Maritime News

Shell Eyes Tankers for Floating Storage

By Jonathan Saul and Ron Bousso LONDON, March 11 (Reuters) – Royal Dutch Shell is in talks to charter at least three supertankers to store crude oil at sea as...

March 11, 2020
Total Views: 53

Tuesday, February 11, 2020
oil tanker
Maritime News

Biggest Contango Since 2018 Could Buoy Floating Oil Storage

By Julia Payne and Florence Tan LONDON/SINGAPORE, Feb 11 (Reuters) – The oil market this week took a turn that could prompt traders to consider storing oil offshore as a growing crude...

February 11, 2020
Total Views: 21

Friday, October 25, 2019
ship anchorage
Maritime News

Floating Storage of 2020-Compliant Fuel Builds Off Singapore

By Roslan Khasawneh SINGAPORE, Oct 25 (Reuters) – Stockpiles of low-sulphur marine fuels held in floating storage around the Singapore trading and pricing hub are steadily growing ahead of a...

October 25, 2019
Total Views: 7

Tuesday, August 13, 2019
lng ship
Maritime News

Idling LNG Tankers Hint at Increasing Appeal of Floating Storage

By Anna Shiryaevskaya and Naureen S. Malik (Bloomberg) –Liquefied natural gas tankers are taking longer-than-usual journeys to deliver cargoes and spending more time idling at sea in a sign some...

August 13, 2019
Total Views: 19

Tuesday, September 11, 2018
oil tanker
Maritime News

Iran Returns to Floating Storage for Its Oil as Buyers Retreat

By Anthony DiPaola, Julian Lee and Alex Longley (Bloomberg) — Iran is starting to store oil on its fleet of supertankers again as impending U.S. sanctions force the Persian Gulf...

September 11, 2018
Total Views: 3

Monday, October 9, 2017
oil tanker
Maritime News

OPEC Chief Says Floating Storage Shrinking as Market Rebalances

By Angelina Rascouet (Bloomberg) — Crude oil in floating storage is declining, showing that the market is rebalancing, OPEC Secretary-General Mohammad Barkindo said. Crude in tankers has fallen by an...

October 9, 2017
Total Views: 18

Friday, January 6, 2017
Maritime News

Iran Capitalizes on OPEC Oil Cut to Sell Millions of Barrels Stored at Sea

By Jonathan Saul LONDON, Jan 6 (Reuters) – Iran has sold more than 13 million barrels of oil that it had long held on tankers at sea, capitalising on an...

January 6, 2017
Total Views: 2

Thursday, August 4, 2016
Maritime News

Oil Traders See Glimmer of Profit Ahead in Storing Crude at Sea

By Serene Cheong (Bloomberg) — Oil traders once again believe it’s worth heading out to sea. The market structure for Brent crude, the benchmark for more than half the world’s...

August 4, 2016
Total Views: 22

Tuesday, August 2, 2016
supertanker TI Europe
Maritime News

Supertanker TI Europe Back on Market as China’s Unipec Gives Up Floating Storage Lease

By Libby George LONDON, Aug 2 (Reuters) – The UK-based trading arm of Beijing-backed Sinopec will give up the megatanker it booked to park crude in Asia at the onset...

August 2, 2016
Total Views: 46