Tag: Tanker

April 9, 2024

The “compelling” tanker orderbook augurs well for freight rates for the coming couple of years, according to multiple researchers. The tanker sector has one of the lowest extant fleet to orderbook ratios, and a minuscule delivery schedule. According to data […]

March 11, 2024

The tanker market could be set for another shift, if Russia’s oil exports force buyers in China and India to look elsewhere. In its latest weekly report, shipbroker Gibson said that “with OPEC+ set to roll over existing production cuts […]

January 23, 2023

“Spot rates are off to a slower start in 2023 across most shipping segments,” conceded Jefferies analyst Omar Nokta in his new quarterly outlook. “The ingredients are in place, however, for a recovery in the coming months, especially post-Lunar New […]

January 12, 2023

According to the Chinese media reports, the Beihai Rescue Bureau of the Ministry of Transport received a notification from the Shandong Provincial Maritime Search and Rescue Center that an explosion occurred on an empty oil tanker in the Rizhao sea […]

July 22, 2022

Ship owners in the tanker and dry bulk segments have been the most reluctant to commit to newbuilding orders, as opposed to their LNG and container shipping counterparts, where decisions are driven by different incentives. In its latest weekly report, […]

January 13, 2022

The swift reintroduction of international travel bans to stem the spread of the Omicron variant of COVID-19 has derailed the already faltering turnaround in rates and earnings for the global tanker market. In November it looked like a cold winter […]

October 4, 2021

“Our largest export commodity continues to be air” is a frequent saying of Gene Seroka, executive director of the Port of Los Angeles. That’s certainly true at his port, where exports are containerized. Far more empty boxes leave than full […]

July 16, 2021

Following the completion of the transaction, International Seaways is now the second-largest U.S.-listed tanker company by vessel count with over 100 vessels and the third-largest by deadweight, aggregating approximately 11.3 million dwt. As informed, the combined company will continue to […]

May 11, 2021

After a weekend of outages, the Colonial Pipeline operator said on Monday it expects to “substantially restore operational service” by the end of the week. Despite this vote of confidence, traders have booked at least six tankers to ship gasoline […]

April 20, 2020

“The first quarter of 2020 has been one of the most profitable quarters in the past decade for crude oil tankers, which will hopefully provide a liquidity buffer for the challenging months that lie ahead. Once the production cuts set […]

December 4, 2019

The six vessels — Icaro, Luisa Caceres de Arismendi, Manuela Saenz, Paramaconi, Terepaima and Yare — have been identified as blocked property of Venezuela’s state-run oil firm Petroleos de Venezuela, S.A. (PdVSA), according to a statement issued by the U.S. […]

November 21, 2019

The agreement involves three Suezmax, three MR and five Handy-sized vessels, all built in South Korea between 2016 and 2017. Under the terms of the agreement, Maersk Tankers will take each vessel from the owner under a bareboat charter arrangement. […]

September 18, 2019

According to local reports, the contract would span AET’s entire tonnage in the sector. The ships in question are understood to be the 2009-built Bunga Akasia and Bunga Alamanda, and the 2010-built Bunga Allium, Bunga Angelica, Bunga Angsana, Bunga Aster […]

September 17, 2019

The undisclosed vessel was reportedly smuggling 250,000 liters of diesel fuel to the United Arab Emirates when it was detained by the country’s Revolutionary Guards. ISNA noted that the tanker was detained near the Greater Tunb island in the Gulf. […]

September 3, 2019

The government is working toward an agreement in principle with Vancouver-based Teekay Shipping under which the world’s first low-noise and low-emissions tanker would be developed. The crude oil tanker is to be equipped with the latest proven quiet technologies and […]

August 28, 2019

Namely, Ionian Shipping & Trading Corp, Lily Shipping Ltd, as well as Stamatios Alekidis, Athanasios Pittas and Rey Espulgar used fuel that exceeded the maximum allowable sulfur concentration in the U.S. Caribbean Emission Control Area and attempted to deceive U.S. […]

August 23, 2019

Under the contract, the company would acquire a Trafigura Maritime Logistics special purpose vehicle that holds the vessels at a consideration of 16,035,856 ordinary shares of Frontline at an agreed price of USD 8.00 per share issuable upon signing, and […]

July 17, 2019

As informed, the gross proceeds from the new financing amount to USD 25.6 million and will be used mainly to refinance the facility of the 49,700 dwt Stenaweco Excellence with Nord LB. The tenor of the new facility is ten […]

June 26, 2019

The 308,000 dwt vessel was named and delivered to its owner, China Merchants Energy Shipping (CMES), in a ceremony at the shipyard on June 22. Featuring a length of 333 meters and a width of 60 meters, the new tanker’s […]

January 11, 2019

Splashed at Daewoo Shipbuilding and Marine Engineering (DSME) shipyard in South Korea, the ships in question are Houston Voyager, Pascagoula Voyager and San Ramon Voyager. The 318,000 dwt vessels feature a length of 336 meters and a width of 60 […]