Overseas Shipholding Group, Inc. (OSG) lets it be known that U.S. ownership of its common stock at the close of business on April 15, 2014 was 77 percent: the minimum percentage of shares that must be owned by United States citizens in order to preserve the status of OSG as a Jones Act company…
Combined production of crude oil, gas and condensates in the United States is on course to a hit a record this year, passing the previous peak set in 1972.The rise in output has confounded the famous forecast made by Shell geologist M King Hubbert who predicted that U…
U.S. crude oil rose to near a six-week high on Friday, steered by stronger gasoline demand and a positive consumer confidence report, but gains were capped by profit taking and a declining demand outlook. The International Energy Agency…
Greece-based chemical transportation company Stalwart Tankers Inc has postponed its U.S. IPO plans due to 'market conditions,' an underwriter told Reuters. The company filed with U.S. regulators in February to raise up to $100 million in an IPO of its common stock…
Gasoline barge prompt cracks in northwest Europe gained on Monday, supported by exports to West Africa, the United States and elsewhere as demand builds ahead of the peak summer season. Reuters shipping data showed a flurry of new vessels booked to carry gasoline or its components…
North Sea Forties crude differentials retreated on Monday as traders said last week's move higher on the back of tighter May supply was overdone, despite the possibility of a VLCC cargo to South Korea in late April.Forties differentials…
Hariga, Zueitina ports expected to open first Deal calls for more talks on larger terminals (Adds context, background, oil prices)Libya's Zueitina oil port prepared on Monday to load crude on tankers after the government reached…
The Coast Guard Authorization Act of 2010 removed the size limit on offshore supply vessels (OSVs). The Act also directed the Coast Guard to issue, as soon as is practicable, a regulation to implement section 617 of the Act and to ensure the safe carriage of oil…
The United States has extradited a former executive of an Italian marine hose manufacturer to face price-fixing charges in what the Justice Department said was its first extradition on antitrust charges.Romano Pisciotti, a former executive with Italy's Parker ITR SRL…
Russia's top natural gas producer, Gazprom, will eventually lose more than it gains from raising the gas price for Ukraine by 80 percent, analysts said on Friday, predicting Kiev would cut purchases and fail to pay in full.Gazprom on Thursday announced a price rise for Ukraine to $485 per 1…
Katharina Stanzel promotes industry awareness and vigilanceAt the Connecticut Maritime Association’s Shipping 2014 conference held March 17-19, WISTA USA President Alexandra Anagnostis, President/CEO of Total Marine Solutions, welcomed INTERTANKO’s Managing Director…
Overview of Hamburg Süd growthGrowth in the global economy and containerized transportation by sea in 2013 was slightly below the level of the previous year. Once again, available global slot capacity outpaced container transport volume as deliveries continue to exceed the level of scrappage…
According to a report by GAC, mariners are advised that the master of the motor tanker Album reported being approached and fired upon by a skiff in position: Lat 26-24.4N, Long 056-41.8E in the Strait of Hormuz between Iran and Oman, Sunday…
The ICC reported that shipowners are facing new dangers from criminal gangs making spurious oil fraud claims. The “victims”/fraudsters try to extort money from owners by bringing action against them for failing to deliver cargoes of oil they allegedly own…
The U.S. Shale Gas Revolution continues to drive orders for some of the world’s largest, most sophisticated tonnage.Mitsubishi Heavy Industries, Ltd. (MHI) received an order from Astomos Energy Corporation for a very large liquefied petroleum gas (LPG) carrier…