Exports of Russian Urals crude oil are set to decline in November as domestic refineries are wrapping up maintenance work, a preliminary program showed on Friday. Russian November Urals oil exports from the Baltic Sea port of Primorsk are seen down to 3…
A highly anticipated study by the U.S. Energy Information Administration will show that domestic oil prices will not rise if the U.S. ban on oil exports is lifted, the agency's top administrator said Thursday. Domestic gasoline prices are set in the global market…
Eastern Shipbuilding Group, Inc. is pleased to announce that Florida Marine Transporters, Inc. of Mandeville, LA exercised another additional 90’x32’x10’ “Canal Class” Inland Towboat to the six (6) vessel program currently under contract…
ClassNK announced that it has completed work on the 31,445GT Product Tanker MUTRIBA, built by Hyundai Mipo Dockyard Co., Ltd. (HMD) as part of a series of vessels being constructed for the Kuwait Oil Tanker Company S.A.K. (KOTC). The MUTRIBA…
Crude oil tanker firm Frontline, part of shipping tycoon John Fredriksen's business empire, appointed Robert Hvide Macleod as chief executive to replace Jens Martin Jensen, the firm said on Monday.Jensen, who was elected to the Frontline board last month…
Crude price drop and dollar strength benefit TEN’s bottom line materially; third quarter financial results to be announced on November 21, 2014Crude, product and LNG tanker operator Tsakos Energy Navigation Ltd. (TEN) said today it believes…
Denmark and its maritime industry are lobbying to get the top position at the International Maritime Organization, a United Nations body that wields great influence over global shipping through its regulations, industry sources said.The current secretary general of the IMO…
Ferguson Group announced the appointment of Richard Smith to lead its executive team. This appointment follows on from the acquisition of Ferguson Group by the global supply-chain logistics company, Brambles Limited, in September 2014. Richard…
Goodwood Ship Management, the Singapore based management company, is set to increase its fleet under management to more than 10 million deadweight tonnes, the company’s annual officers’ conference heard this week.Capt Ashok Sabnis, Goodwood Managing Director…
UK-based maritime intelligence provider, Dryad Maritime has released its Q3 maritime crime figures which show that piracy is continuing across the globe at similar levels to Q2, with incidents of cargo theft in Southeast Asia continuing to rise…
AP Moller-Maersk CEO, Nils Andersen, delivered the keynote at today’s Danish Maritime Days forum in Copenhagen where he offered several keys to enhancing the maritime sector on a worldwide scale. Andersen called the ship purchasing market attractive for investors…
Samsung Heavy Industries won an order amounting to USD 440 Million for Three Arctic Shuttle Tankers from a European shipper. According to sources the order is from Russia’s state shipping firm Sovcomflot. The shuttle tankers will have a capacity of 42…
A European Union plan to label Canadian tar sands oil as highly polluting as part of its fight against climate change has been abandoned after years of opposition from Canada, clearing the way for exports of tar sands crude to the European market…
The U.S. Energy Information Administration (EIA) has released its latest Short-Term Energy and Winter Fuels Outlook (http://www.eia.gov/forecasts/steo/). Select highlights follow: • EIA projects average U.S. household expenditures for natural gas…
The Board of Nordic American Tankers Limited has declared a cash dividend of $0.14 per share. The record date is October 22, 2014 and the payment date is on or about November 5, 2014. The tanker market for the third quarter 2014 was stronger than for the second quarter.
