Oil News

 

Oil Tanker Transits Through the Suez Canal Drop 27% YOY -BIMCO

Nov 05, 2020

The number of oil tankers passing through the Suez Canal in October has declined sharply, down 27% for the month year-on-year amid persisting subdued demand for oil transport since the April crash in oil prices that fueled high demand for oil tankers…

Traders Scout for Tankers to Store Diesel as Virus Spreads

Oct 30, 2020

Oil traders are scouting for newly built supertankers to store diesel for the next few months as they brace for lower demand in Europe amid renewed restrictions aimed at battling the COVID-19 pandemic, shipping and trade sources said.Trading companies…

US Army Corps Clearing Debris from Louisiana Calcasieu Ship Channel After Delta

Oct 14, 2020

The U.S. Army Corps of Engineers said on Wednesday that it may be able to clear enough debris from Hurricane Delta to open the Calcasieu Ship Channel in Louisiana to vessels drafting up to 30 feet (9.14 m) with restrictions by the end of the week…

Mexico Closes Oil Ports Ahead of Hurricane Delta

Oct 07, 2020

Mexico's naval authorities on Tuesday ordered the closure of oil, cargo and passenger ports in the Gulf of Mexico and Caribbean ahead of Hurricane Delta, expected to sweep the Yucatan peninsula overnight.Ports shuttered to large ships included Dos Bocas in Tabasco and oil installations in Campeche…

Frontline CEO Macleod Steps Down

Oct 07, 2020

Oil tanker company Frontline said Wednesday its CEO Robert Hvide Macleod had decided step down from his position. The oil and gas shipping firm said its board had appointed Lars H. Barstad, Frontline's commercial director, to take the role as…

Sovcomflot IPO Expected to Price at Low End of Range

Oct 06, 2020

Russian shipping company Sovcomflot is guiding investors to expect its initial public offering (IPO) to price at the low end of the marketing range, two bookrunners organizing the transaction said on Tuesday.The first big stock market float…

First Tanker to Load Crude at Libya's Hariga Port Since January

Sep 23, 2020

An oil tanker is expected to load crude at Libya’s Marsa el-Hariga terminal this week, the first since a blockade by eastern forces in January slashed the OPEC member’s oil production to a trickle.The Delta Hellas tanker will enter Libya’s Hariga…

Second Wave of Floating Storage Triggered by Ailing Oil Market

Sep 10, 2020

A stalled global economic recovery from the coronavirus pandemic is leading to a fresh build-up of global oil supplies, pushing traders including Trafigura to book tankers to store millions of barrels of crude oil and refined fuels at sea again…

US Preparing Tighter Oil Sanctions on Venezuela

Sep 01, 2020

The Trump administration is looking to tighten oil sanctions on Venezuela in the near future, top U.S. envoy for the country told Reuters on Monday, by potentially removing exemptions that allow some oil companies to exchange Venezuelan crude for fuel from the OPEC member…

Port of Houston Reopens as Hurricane Closure Lifted

Aug 27, 2020

The Port of Houston, the United States' largest energy export port, began reopening to commercial shipping on Thursday after a day-long closure due to Hurricane Laura, the U.S. Coast Guard said.Ports along the Texas and Louisiana coasts were…

Frontline's Earnings Surge on Demand for Oil Storage

Aug 27, 2020

Oil tanker group Frontline reported a big jump in second-quarter earnings on Thursday as energy traders paid to store crude that went unsold amid the COVID-19 pandemic, the company said on Thursday.Frontline's April-June adjusted net profit rose to $206…

Stored Crude, Condensate Could be Shipped from Shuttered Libyan Ports

Aug 19, 2020

A limited reopening of Libyan oil terminals could allow the export of some crude oil and condensate stored at Es Sider, Brega, Zueitina and Hariga, but leaves a months-long blockade of the ports in place, oil engineers say.East Libyan authorities…

OCIMF Offering Remote Inspection Option

Aug 18, 2020

The Oil Companies International Marine Forum (OCIMF) said it is now providing a remote inspection option as an additional tool within its Ship Inspection Report (SIRE) program as a temporary measure to help guard against the spread of COVID-19…

China Ramps up US Oil Purchases Ahead of Trade Deal Review

Aug 17, 2020

U.S. crude oil shipments to China will rise sharply in coming weeks, U.S. traders and shipbrokers and Chinese importers said, as the world’s top economies gear up to review a January deal after a prolonged trade war.Chinese state-owned oil firms…

PDVSA Changes Oil Deals to Include Shipping as Sanctions Bite

Aug 10, 2020

Venezuelan state-run oil firm PDVSA has begun offering to ship its own oil, figuring in the costs in crude supply deals to help customers who have struggled to hire vessels to carry the country’s oil due to U.S. sanctions, according to company documents seen by Reuters…

Logistics News

Höegh Autoliners Orders Customized Simulators from Kongsberg Digital

Höegh Autoliners Orders Customized Simulators from Kongsberg Digital

Houthis Claim Attack on Four Ships at Israel's Haifa Port

Houthis Claim Attack on Four Ships at Israel's Haifa Port

Fire Suspends Sugar Loading at Tiplam Terminal in Brazil's Santos Port

Fire Suspends Sugar Loading at Tiplam Terminal in Brazil's Santos Port

Houston Container Volumes Up 21% in May

Houston Container Volumes Up 21% in May

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