Concordia Maritime has signed a contract for the chartering of two IMO2/3 class MR tankers. This a joint chartering arrangement with Stena Weco, and Concordia Maritime’s share amounts to 50 percent. The contract is for one year, and the charters run from June and July 2017…
MISC Berhad has chosen eMaritime Group's ACAT online courses as its ECDIS type specific continuous personal development training solution. The agreement has enabled MISC to sign up its entire fleet of liquefied natural gas (LNG) carriers while…
The Wison-LNG-Distributor (LNGD) is a new multi-functional carrier with scalable capacity between 5000 to 20,000 cu. m. Wison-LNGD integrates the functions of LNG loading, bunkering and container delivery, which could make regional LNG redistribution more affordable and efficient…
SCF Group's Sovcomflot sees bright future for LNG-fuelled vessels in the tanker industry. 'LNG is a promising fuel for large-capacity vessels, which will significantly increase their environmental compatibility and efficiency,' says the company…
The mining and commodities trading house run by billionaire Ivan Glasenberg, Glencore, has sold a 51 percent stake in its oil products storage business to China’s HNA Innovation Finance Group, the company said. The Transaction is subject…
Venezuela's state oil company PDVSA said on Wednesday a spill at its main exporting port Jose had been halted without any impact on crude shipments from the terminal.'Operations of production and shipment of crudes from the Hugo Chavez Orinoco…
Following another poor year for multipurpose shipping with further erosion of rates making it the worst market in over 10 years, signs of recovery are now evident with momentum expected to build over the next few years, according to the latest…
Commodities trader Trammo Inc is continuing to shed its liquefied petroleum gas (LPG) assets, putting its Newington, New Hampshire, propane terminal on the block and selling a Tampa, Florida, facility, the company told Reuters on Friday. The…
Asian spot LNG prices fell this week on poor demand from major gas-consuming regions despite a slew of new purchase tenders. The May spot LNG contract fell by $0.25 cents to $5.40 per million British thermal units (mmBtu), with new production coming on stream in Australia and the United States…
Freight rates for very large crude carriers (VLCCs), which fell to a near six-month low on Thursday, will remain weak until the Asian refinery maintenance season gets completed, starting April-end. 'I haven't seen a collapse in rates like this for some time…
Nakilat has assumed full ship management and operations of Q-Flex LNG carrier Mesaimeer from STASCo (Shell Trading and Shipping Company Ltd.) with effect from March 23, 2017, as part of the planned and phased transition announced on October 19…
The world's biggest liquefied natural gas (LNG) buyers are clubbing together to secure more flexible supply contracts in a move that further shifts power to buyers rather than producers. Korea Gas Corp (KOGAS) said on Thursday it had signed…
Libya's oil production has reached 700,000 barrels per day (bpd), the National Oil Corporation (NOC) said on Wednesday, recovering from a drop earlier this month caused by fighting at two key oil ports. 'We are working very hard to reach 800…
Oil company Royal Dutch Shell has signed a three-year contract to lease storage tanks at a large terminal in Panama that had been used by U.S. refining company Tesoro Corp, sources involved in the deal told Reuters.The facility, designed for storage and transshipment of crude oil to tankers…
The Washington State Supreme Court has ruled in favor of the Port of Vancouver USA in an appeal brought by Columbia Riverkeeper and Northwest Environmental Defense Center. The court’s March 16 decision affirmed the Washington Court of Appeals’…