Oil Tankers

(Bloomberg) — Tankers that carry about half of the refined oil products transported by sea will lose money for the next five years as an oversupply of

By Jonathan Saul LONDON (Reuters) – Iran has taken delivery of several new tankers from Chinese shipyards, giving it greater flexibility in maintaining

(Bloomberg) — Iran, which dropped two places to become India’s fourth-largest crude supplier last year, may lose $2.5 billion of revenue as global

(Bloomberg) — Earnings for the biggest oil tankers on the benchmark route shipping Saudi Arabian crude to Japan will rise 48 percent this year to average

By Jonathan Saul LONDON (Reuters) – Iran has taken delivery of several new tankers from Chinese shipyards, giving it greater flexibility in maintaining

Overseas Shipholding Group Inc. (OSGIQ), the largest U.S. tanker operator, won approval to borrow $25 million to maintain ships and to make payments to two

(Bloomberg) — Oil tankers designed to navigate Egypt’s Suez Canal are getting the most cargoes in at least three years as Iraq fills a void left

By Rob Sheridan (Bloomberg) — Hire costs for the largest oil tankers had this year’s second-biggest increase on stronger bookings of ships to haul

Stena Bulk A/B and palm oil production giant Golden Agri-Resources Ltd (GAR) announced today they have set up a new 50-50  joint venture to take over four

(Bloomberg) — Losses widened for the largest oil tankers hauling Middle East crude to Asia, the industry’s busiest trade route, as a surplus of

Scorpio Tankers Inc. (NYSE: STNG) announced today that it has finalized their agreement with SPP Shipbuilding Co., Ltd. of South Korea (SPP) for the

Scorpio Tankers Inc.’s (STNG) offering of 30.7 million shares priced at a 5.2% discount of Tuesday’s close. The company will sell the shares at

(Bloomberg) — Saudi Arabian Oil Co., the world’s biggest state-owned crude producer, booked a tanker to haul a cargo to the U.S. Gulf Coast next

(Bloomberg) — OPEC’s deepest output cut since the global recession in 2008 is creating the biggest surplus of oil tankers in the Persian Gulf in at

By Geraldine Amiel PARIS–French integrated oil and gas major Total SA (TOT, FP.FR) Monday confirmed that Samsung Total Petrochemicals, its joint venture

Suezmax tanker AST Sunshine is expected to deliver fuel savings of 10-15% compared to standard tonnage. The tanker, a third generation, fuel-efficient Suezmax,

By Mikael Holter and Isaac Arnsdorf Jan. 25 (Bloomberg) — The market for oil and fuel tankers will be the first to recover from a glut in the shipping

Jan. 23 (Bloomberg) — Earnings for the largest oil tankers plying the industry’s busiest trade route plunged 76 percent, nearing a reversion to

Jan. 22 (Bloomberg) — The glut of supertankers competing for 2 million-barrel cargoes of Persian Gulf oil expanded to the highest in more than four

Jan. 21 (Bloomberg) — Trafigura Beheer BV agreed to buy three medium-range tankers to carry refined oil products such as gasoline, its first purchase of