Tuesday, April 20, 2021
vlcc tanker
Offshore

Historic Oil Price Crash Marks One Year Anniversary at $63 a Barrel

By Andres Guerra Luz and Alex Longley (Bloomberg) — Oil fluctuated above $63 a barrel, exactly one year after U.S. benchmark crude futures plunged below zero, with traders extending its rally...

April 20, 2021
Total Views: 1462

Friday, April 16, 2021
tanker AQUASURAZO
Shipping

Canadian Crude Shipped from Newfoundland to U.S. West Coast in Unusual Demand Shift

By Sheela Tobben and Lucia Kassai (Bloomberg) — Canadian oil sellers are sending exports to the U.S. West Coast, an unexpected move prompted by the staggered global demand recovery from the...

April 16, 2021
Total Views: 26693

Wednesday, March 31, 2021
oil tanker loading
Shipping

Tanker Mega Merger: NYSE-Listed International Seaways and Diamond S. Shipping to Combine

New York-listed tanker companies International Seaways, Inc. (NYSE: INSW) and Diamond S Shipping Inc. (NYSE: DSSI) have announced an all-stock merger that will create the world’s second largest US-listed tanker...

March 31, 2021
Total Views: 1696

Wednesday, March 24, 2021
port of Hodeidah, Yemen
Ports

4 Product Tankers Allowed To Dock At Yemen’s Red Sea Port

by Aziz El Yaakoubi (Reuters) – The Saudi-led coalition has allowed four tankers to dock at Yemen’s Red Sea port of Hodeidah, two sources familiar with the matter said, after...

March 24, 2021
Total Views: 1342

Wednesday, March 17, 2021
oil tanker loading
Shipping

Supertankers Losing Millions Are a Bullish Vaccine Trade

By Alex Longley and Alaric Nightingale (Bloomberg) — The market for moving oil across the world’s oceans is currently so bad that owners of the industry’s biggest supertankers are actually subsidizing...

March 17, 2021
Total Views: 2158

lou vest oneeighteen navigation shipping
News

U.S. Refiners Scale Back on Hiring Ships

By Jonathan Saul and Laura Sanicola (Reuters) – U.S. refiners are scaling back on hiring ships for longer periods to save on costs in another sign of uncertainty over when...

March 17, 2021
Total Views: 2206

Tuesday, March 16, 2021
oil refinery
Shipping

China Seizes Ships in Sprawling $770 Million Refined Oil Smuggling Ring

BEIJING, March 16 (Reuters) – China foiled criminals seeking to smuggle nearly 1 million tonnes of refined oil worth 5 billion yuan ($770 million), with officials seizing 11 ships and...

March 16, 2021
Total Views: 28050

Tuesday, March 9, 2021
tanker
Shipping

Supertankers Losing Almost $7,000 a Day Amid OPEC Cuts

By Alex Longley (Bloomberg) — Times are getting tougher by the day for oil tanker owners. With too many vessels to haul fuel, losses for supertankers on a benchmark Middle East-to-China...

March 9, 2021
Total Views: 2997

Monday, March 1, 2021
Ocean Princess Tanker
finance

VLCC Fire Sale – Singapore Tanker Tycoon O.K. Lim Liquidates One-Third His Fleet To Repay Billions Of Debt

By Jessica Jaganathan (Reuters) – About one-third of the roughly 150 ships owned by companies controlled by Singapore tycoon Lim Oon Kuin and his family have been sold as part...

March 1, 2021
Total Views: 4155

Tuesday, February 23, 2021
Shipping

‘Perfect Trips’: Venezuela and Iran Swap Jet Fuel for Gasoline

By Deisy Buitrago and Marianna Parraga CARACAS/MEXICO CITY, Feb 23 (Reuters) – Venezuela is shipping jet fuel to Iran in return for vital gasoline imports for the South American nation as part...

February 23, 2021
Total Views: 6126

Thursday, February 4, 2021
ULCC TI Europe
News

2021 – Euronav Predicts Oil Freight Rate Weakness Will Continue All Year

by Charles Regnier (Reuters) – Belgium’s Euronav expects pressure on freight rates to continue until late 2021, the tanker operator said as it reported weaker than expected quarterly results on...

February 4, 2021
Total Views: 2496

Friday, January 29, 2021
Shipping

China Seeks Details About Chinese Crew After Tankers Seized by Indonesia

By Yew Lun Tian and Fathin Ungku BEIJING (Reuters) – China said on Wednesday it was seeking details about 25 of its nationals who were among 61 crew on two supertankers seized...

January 29, 2021
Total Views: 4287

Thursday, January 28, 2021
tanker in storm
Shipping

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: 4497

Monday, January 25, 2021
ship breaking
Shipping

Asian Shipbreakers Await Unemployed VLCCs Amid ‘Attractive’ Scrap Values

By Alex Longley and Alaric Nightingale (Bloomberg) — Covid-19 is destroying the market for supertankers that deliver about a fifth of the world’s crude oil. The result is likely to be...

January 25, 2021
Total Views: 9529

Wednesday, January 20, 2021
vlcc tanker
Shipping

Tanker Owners Pay to Move Crude in Wake of Supply Cuts

By Alex Longley (Bloomberg) — Saudi Arabia’s oil production cuts have hit the tanker market so hard that owners of the biggest vessels are effectively subsidizing cargo deliveries on the industry’s...

January 20, 2021
Total Views: 3076

Tuesday, January 19, 2021
oil tanker
Shipping

U.S. Blacklists Oil Traders, Tankers for Undermining Venezuela Sanctions

By Brian Ellsworth and Marianna Parraga CARACAS/MEXICO CITY, Jan 19 (Reuters) – The United States on Tuesday sanctioned a network of oil trading firms, individuals and vessels that have helped...

January 19, 2021
Total Views: 1473

Friday, January 8, 2021
vlcc tanker
Shipping

Oil Has Best Week in Four Months With Saudi Cut Buoying Prices

By Andres Guerra Luz (Bloomberg) — Oil posted the biggest weekly gain since late September as Saudi Arabia’s plan to slice output spurred a surge in physical crude buying. Futures in...

January 8, 2021
Total Views: 821

Thursday, January 7, 2021
us oil exports
Shipping

How Exporting the U.S. Shale Boom Changed Oil Markets Forever

By Sheela Tobben and Dave Merrill (Bloomberg) — Five years ago on New Year’s Eve, the Theo T left the Texas Gulf Coast with the first U.S. shale crude shipment overseas. The...

January 7, 2021
Total Views: 4853

Tuesday, December 29, 2020
Shipping

Year In Review – Top Maritime Stories of 2020

What a year! With 2020 coming to a close, we’re taking a look back at the maritime stories that continued to make headlines all year long. IMO 2020 The year...

December 29, 2020
Total Views: 14127

Tuesday, December 8, 2020
maersk belfast tanker
Shipping

Maersk Tankers Sells 14 Product Tankers for $422 Million

Maersk Product Tankers has announced an agreement for the sale of 14 product tankers, a portion of which will be bareboat chartered back to the company. The agreement on the...

December 8, 2020
Total Views: 5624