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Tag: Tanker


Shipping

Rough start to 2023 for dry bulk, tanker, gas, container shipping

January 23, 2023

Via: FreightWaves

“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 […]


Shipping

Report: Chinese tanker splits in half after explosion, two missing

January 12, 2023

Via: Offshore Energy

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 […]


Shipping

Rules’ Uncertainty Plagues Dry Bulk and Tanker

July 22, 2022

Via: Hellenic Shipping News

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, […]


Shipping

Tanker market sails into 2022 headwinds

January 13, 2022

Via: Hellenic Shipping News

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 […]


Shipping

Despite exodus of empty containers, US exports are hitting new highs

October 4, 2021

Via: FreightWaves

“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 […]


Shipping

International Seaways officially becomes 2nd largest US-listed tanker company

July 16, 2021

Via: Offshore Energy

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 […]


Shipping

Prolonged US pipeline closure the wildcard for product tanker owners

May 11, 2021

Via: Splash 247

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 […]


Shipping

OPEC+ production cuts have dire implications for oil tankers

April 20, 2020

Via: Offshore Energy

“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 […]


Shipping

US Blacklists Six Venezuelan Tankers

December 4, 2019

Via: World Maritime News

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. […]


Shipping

Maersk Tankers to Grow Its Managed Fleet by 11 Ships

November 21, 2019

Via: World Maritime News

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. […]


Shipping

Maersk Tankers Looking to Buy AET’s MR Tanker Fleet

September 18, 2019

Via: World Maritime News

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 […]


Impact & Regulations, Shipping

Iran Seizes Another Tanker for Allegedly Smuggling Fuel

September 17, 2019

Via: World Maritime News

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. […]


Shipping

Canada to Support Development of Low-Noise Tankers to Protect Marine Species

September 3, 2019

Via: World Maritime News

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 […]


Impact & Regulations, Shipping

Tanker Owner, Operator to Pay USD 3 Mn for Air Pollution

August 28, 2019

Via: World Maritime News

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. […]


Shipping

Frontline Buying Up to 14 Suezmax Tankers from Trafigura

August 23, 2019

Via: World Maritime News

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 […]


Shipping

TOP Ships Secures Loan for One MR2 Vessel

July 17, 2019

Via: World Maritime News

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 […]


Shipping

China Unveils World’s 1st Smart Oil Tanker

June 26, 2019

Via: World Maritime News

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 […]


Shipping

Chevron Launches Three New Very Large Crude Carriers

January 11, 2019

Via: World Maritime News

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 […]


Shipping

Suez Canal Extends Toll Cuts for Crude Carriers

December 26, 2018

Via: World Maritime News

The Suez Canal Authority (SCA) has extended discounts related to oil tankers to another year after considering “new changes in the global shipping market and world economy”. As explained, SCA aims to encourage more ships to transit the Suez Canal […]


Shipping

Tanker Recovery: Winter Is Coming (Early)?

November 20, 2018

Via: World Maritime News

The upturn is particularly present in the crude oil market, based on the data from BIMCO, with rates moving from USD 4,000 per day during the summer to USD 33,500 in October. Commenting on the drivers behind the rate hikes, […]