Long-Range Oil Product Tanker Rates Fall

LONDON, Sept 29 (Reuters) - Rates in the long-range tanker market for transporting oil products softened on Monday as lighter bookings took a toll on sentiment. Long-Range 1 tankers, carrying 55,000 tonne loads from the Middle East Gulf to Japan, reached W116.30 in the Worldscale measure, or $12,295 a day when translated into average earnings That compared with W117.70 or … [Read more...]

Concordia Maritime Shares Gain on New Charter Contract with Shell

Concordia Maritime (STO:CCORB) announced on Friday a signed agreement with Shell Tankers Singapore Pte Ltd for the charter of the 65,200 dwt P-MAX tankers Stena Penguin and Stena Progress. “Generally speaking, the product tanker market is developing well and in accordance with our planned fleet disposition. We are of course happy to have concluded this business,” … [Read more...]

Los Angeles Gasoline Gains With Ships Chartered From West Coast

Dec. 26 (Bloomberg) -- Los Angeles gasoline climbed to the highest level against futures in six weeks after three ships were chartered off the U.S. West Coast, pulling supplies from the area while a local refinery performs unplanned work. California-grade gasoline in Los Angeles, or Carbob, rose 2 cents to a premium of 5.5 cents versus futures on the New York Mercantile … [Read more...]

U.S. Trade Talks Could Deliver Cheaper Energy For Europe

By Barbara Lewis and Robin Emmott BRUSSELS, Dec 16 (Reuters) - European negotiators, hoping to cut fuel bills, will press their U.S. counterparts in Washington this week on including energy exports in a transatlantic trade pact that aims to integrate two markets accounting for half the world's economy. Bringing politically sensitive energy into the debate stands to … [Read more...]

Hyundai Mipo Wins Order for 16 Clean Product Tankers

Hyundai Mipo added nearly a half billion dollars to their backlog today with a 16-ship order from an undisclosed Middle Eastern shipowner today. The order consists of six chemical carriers along with ten product tankers for a consideration of USD $184 million and USD $309 million respectively. According to the exchange filing, the ships will be delivered by the fourth … [Read more...]