Two foreign tankers carrying Iraqi fuel oil were subjected to unidentified attacks inside territorial waters, causing them to catch fire, Iraq's director general of the General Company for Ports Farhan al-Fartousi told Reuters on Wednesday.Iraq evacuated the 25 crew members from the two vessels and fire is still ablaze on both ships, he added.This follows news that three vessels had been hit by unknown projectiles…
The MISC Group revenue of RM2,891.4 million ($729 million) was 2.7% higher than the revenue for the period ended March 31, 2025.The increase was mainly due to higher revenue from the company’s Petroleum and Product Shipping segment, primarily driven by higher freight rates and earning days…
Three supertankers were crossing the Strait of Hormuz on Wednesday carrying oil bound for Asian markets, after waiting in the Gulf for more than two months with 6 million barrels of Middle East crude on board, while another was entering, shipping data on LSEG and Kpler showed…
Oil transportation and storage company Sentinel Midstream said on Tuesday it would immediately begin construction of its deepwater oil export project off the Texas coast, marking the first development of a large-scale export project in the United States in years…
President Donald Trump granted a 90-day extension to a shipping waiver that makes it easier to move oil, fuel and fertilizer around the United States, the White House said on Friday, the latest effort to curb rising energy costs linked to the war with Iran…
Maritime software company Carga has released OceanSMART 2.0, a powerful upgrade to its flagship bulk liquid cargo management platform.The release delivers dramatically faster performance, a modernized user interface and a suite of reliability…
Insurance broker Marsh McLennan said on Wednesday it had met with U.S. officials to explore solutions for restoring maritime trade amid escalating fighting in the Middle East, as attacks in the region threaten energy shipments through the Strait of Hormuz…
Saudi Arabia's state oil company Aramco is attempting to reroute some of its crude exports to the Red Sea to avoid the Strait of Hormuz, where the risk of Iranian attacks has slowed shipping to a near halt, sources said on Tuesday.Saudi Arabia and other regional Gulf oil producers…
OPEC+ has decided to increase its crude oil production target by 206,000 barrels per day (bpd) for April against a backdrop of heightened geopolitical risk as conflict in the Middle East escalated rapidly over the weekend.Oil markets will enter…
At least three tankers were damaged off the Gulf coast and one seafarer was killed as Iranian retaliation for U.S. and Israeli strikes on Iran exposed ships to collateral damage, shipping sources and officials said on Sunday.Risks to commercial shipping have surged in the past 24 hours…
McQuilling Services has released its 29th anniversary edition, 2026-2030 Tanker Market Outlook with the theme: “You Can’t See the Forest for the Trees.”The report frames the outlook for crude tankers over the next five years. Structural forces (the “forest”) including: 1) macroeconomic conditions…
A crude tanker chartered by Trafigura departed on Sunday from Venezuela's Jose port to Louisiana Offshore Oil Port (LOOP), LSEG data and documents showed, the first cargo going directly to the U.S. as part of a 50-million-barrel supply deal agreed this month between Caracas and Washington…
The U.S. government has filed for court warrants to seize dozens more tankers linked to the Venezuelan oil trade, four sources familiar with the matter said, as Washington consolidates control of oil shipments in and out of the South American country…
Venezuela's state-run oil company PDVSA has begun cutting crude production because it is running out of storage capacity due to an ongoing U.S. oil blockade that has reduced exports to zero, piling more pressure on an interim government trying to hang onto power in the face of U…
Venezuela on Thursday authorized two very large crude carriers (VLCC) to set sail for China, according to two sources familiar with Venezuela's oil export operations, which would be only the second and third supertankers to depart the country since the U…
