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: 8565

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: 2970

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: 1380

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: 812

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: 4795

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: 13270

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: 5583

Monday, December 7, 2020
oil tanker
Shipping

Iranian Fuel Flotilla Sailing to Venezuela

By Fabiola Zerpa, Ben Bartenstein and Peter Millard (Bloomberg) — Iran is sending its biggest fleet yet of tankers to Venezuela in defiance of U.S. sanctions to help the isolated nation...

December 7, 2020
Total Views: 2050

Tuesday, December 1, 2020
tanker at sea
Shipping

Oil-Hungry Asia Lures Armada of Tankers Carrying U.S. Crude

By Serene Cheong and Sheela Tobben (Bloomberg) — An armada of around 20 tankers laden with U.S. oil will be heading to Asia this month as the region continues to outpace...

December 1, 2020
Total Views: 3244

Wednesday, November 25, 2020
Accidents

Oil Tanker Hit by Blast at Saudi Terminal in Red Sea

The ship’s manager confirms the Maltese-flagged MT Agrari was hit by an unknown source about one meter above the waterline, causing a breach. The vessel is reported stable. By Jonathan...

November 25, 2020
Total Views: 9497

Thursday, November 19, 2020
tanker deck
Shipping

Global Crude Market Finds Support Mainly from China

By Devika Krishna Kumar, Olga Yagova and Noah Browning NEW YORK/MOSCOW/LONDON, Nov 19 (Reuters) – China, the global oil market’s lifeline this year, has stepped up purchases from exporters like...

November 19, 2020
Total Views: 697

Friday, November 13, 2020
Maritime News

China Oil Giant Unipec Eyes New Supertankers to Shrink Fuel Glut

By Sharon Cho, Elizabeth Low and Ann Koh (Bloomberg) –China’s biggest refiner is eyeing a creative strategy to help rid Asia of a persistent diesel glut — brand new supertankers...

November 13, 2020
Total Views: 619

Monday, November 9, 2020
vlcc tanker
Maritime News

Ownership Shake-up at Tanker Pool Operator Heidmar

Heidmar Chief Executive Officer Pankaj Khanna has taken full control of the tanker pool management company from shipping billionaire George Economou. The company announced Monday that Mr. Pankaj Khanna has...

November 9, 2020
Total Views: 149

Thursday, November 5, 2020
Maritime News

Venezuelan Oil Tanker Undergoes Repairs in Cuba After Catching Fire

Nov 5 (Reuters) – An oil tanker owned by Venezuelan state oil company Petroleos de Venezuela’s maritime division is undergoing repairs in Cuba after suffering a fire while discharging last...

November 5, 2020
Total Views: 518

Thursday, October 15, 2020
tanker loading
Maritime News

U.S. Crude, Fuel Stockpiles Drop Sharply Amid Hurricane -EIA

By David Gaffen Oct 15 (Reuters) – U.S. crude stockpiles fell sharply last week, as offshore oil production was shut due to Hurricane Delta, while distillate inventories posted their biggest...

October 15, 2020
Total Views: 9

Friday, October 9, 2020
Environment

Construction Contracts Signed for First Battery-Powered Tankers

Tokyo-based shipping company Asahi Tanker Co. has placed an order for the world’s first electric-powered tankers. The two tankers, which were ordered at Kawasaki Heavy Industries, will be 100% powered...

October 9, 2020
Total Views: 72

Wednesday, September 16, 2020
tanker
Maritime News

Business of Shipping: Considerations When Vetting a Tank Vessels to Charter

By Ira Breskin – A tanker charterer should carefully vet a nominated vessel by conducting prudent risk assessments to reduce liability. In fact, it is incumbent on the charterer to do...

September 16, 2020
Total Views: 72

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: 29

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: 33

Tuesday, September 8, 2020
oil tanker
Maritime News

Supertanker Earnings Go from Boom to Bust as Demand Wavers

By Alex Longley (Bloomberg) –Just six months ago, oil supertankers experienced a windfall as the pandemic slashed demand for crude and traders raced to book vessels to store the resulting...

September 8, 2020
Total Views: 18