Venezuela's exports of crude oil and fuel fell 11.5% in March as Washington's imposition of secondary tariffs and the cancellation of key licenses to operate in the U.S.-sanctioned energy sector led to delays and cargo suspensions, according to ship tracking data and documents.U.S. President Donald Trump's administration last week announced a 25% tariff to buyers of Venezuelan crude and gas, which will begin this week…
The Panama Canal Board of Directors has authorized the opening of a bidding process for the development of a new pipeline for the transfer of energy products which will complement operations in the interoceanic waterway.The pipeline will be…
Saudi Arabia's crude oil shipments to its biggest customer, China, are expected to drop to their lowest level in more than a year in April, trade sources said on Thursday, partly due to maintenance programmes at Chinese refineries owned by Sinopec…
Tanker owner Performance Shipping entered into a sale and leaseback agreement with an unaffiliated third party for a previously announced newbuild LR2 Aframax tanker vessel. This concludes the financing for all three newbuilding LNG-ready, scrubber…
Chinese and Indian refiners will source more oil from the Middle East, Africa and the Americas, boosting prices and freight costs, as new U.S. sanctions on Russian producers and ships curb supplies to Moscow's top customers, traders and analysts said…
Traders are slated to load record volumes of diesel on very-large crude carriers (VLCCs) from Asia to West of Suez markets in August, a trend likely to continue next month, data from trade sources and shiptrackers showed.Five supertankers - Maran Leo…
The economic incentive to import oil from the U.S. Gulf Coast to Asia has closed as the cost of booking supertankers on the route has surged amid a jump in bookings for the vessels, traders said this week.With the arbitrage for U.S. shipments closed…
Longer sailing distances cushion fall in US crude oil exportsTon mile demand generated by US crude oil exports has fallen by 9.7% in the first two months of 2021 compared with the start of 2020. The fall could however have been much worse; In volume terms…
