Fitch Ratings has published the latest version of its criteria for rating oil vessel backed financings in Latin America. This report updates and replaces the prior criteria of the same name dated Jan. 14, 2014. There have been no substantial changes from the previous version…
Investors looking for returns in the tanker markets can invest their capital in a variety of ways. Should an owner invest in a VLCC or an Aframax? How about an LR2 or an MR2? What is the historical rate of return for these tankers? Which tanker class is the riskiest…
Teekay Tankers Ltd. announced that it will acquire four coated Aframax tankers and one uncoated Aframax tanker for an aggregate purchase price of approximately $230 million. The five vessels, which are expected to be delivered in the first quarter of 2015…
General Dynamics NASSCO started construction of another ship in its commercial shipbuilding backlog, starting construction of a second “ECO” tanker to be built for American Petroleum Tankers at a steel cutting ceremony in its San Diego shipyard…
INTERTANKO’s documentary committee has launched bunker surcharge clauses for Emission Control Areas (ECA). Rising bunker prices due to rising oil prices and volatility in global politics can have a dramatic effect on trade as they fluctuate not just day to day…
A U.S. agency is considering how the country could export crude oil and natural gas from deepwater ports as the domestic drilling boom adds pressure for Washington to relax trade restrictions and approve shipments of fuel. The U.S. Maritime Administration…
The oil price drop will hand tanker markets an unexpected bonus next year, boosting demand for oil storage at sea while distant eastern markets also bargain-hunt fuel and need shipping. Supertanker rates are already close to five-year highs of over $83…
On 30 October Kuwait Oil Company (KOC) CEO Mr Hashem Sayed Hashem attended the naming ceremony of the ASD 3212 tug vessel KOC Shahem at Damen Shipyards Galati. The KOC Shahem is the second in a series of 14 tugs that Damen is building for KOC…
Houston’s Port Commission Chairman Janiece Longoria delivered the 2014 State of the port address in early November.Completing her second year, chairman Longoria reported to a capacity crowd of almost 500 people that the Port of Houston Authority (PHA) is enjoying business success…
U.S. lawmakers gave a preview on Thursday of a looming fight next year on lifting the ban on crude exports with supporters saying it would sustain the drilling boom and others questioning its impacts on industry and fuel prices. In a House of Representatives hearing on the ban…
Mexico has approved the tender of 14 initial contracts for exploration and production of oil and gas in shallow waters, the National Hydrocarbons Commission said on Wednesday, December 10, 2014.Following a energy overhaul finalized earlier this year that ended a 75-year state monopoly…
Stolt-Nielsen Limited has announced that Jacob Stolt-Nielsen, the visionary entrepreneur who founded the company in 1959, will retire from the SNL Board of Directors effective December 15, 2014, thus formally concluding his career at the company…
U.S. Representative Joe Barton will introduce a bill on Tuesday to lift the 40-year ban on exports of crude oil, but the measure has almost no chance of passing due to lawmaker concerns about fuel prices and costs to refiners.Barton, a Republican from Texas…
Vice President – Development, United States Maritime Resource Center Maritime Simulation Institute An hour spent with Margaret Kaigh Doyle is a high energy event, punctuated by her enthusiasm for everything she undertakes on a daily basis…
A fully updated edition of the definitive industry guidance on the safe operation of chemical tankers has just been published by the shipping industry’s global trade association, the International Chamber of Shipping (ICS). The new edition…
