U.S. President Donald Trump will restore his 'maximum pressure' campaign on Iran and drive its oil exports down to zero, a U.S. official said on Tuesday.Iran has repeatedly threatened to close the Strait of Hormuz for traffic as a retaliation for Western pressure. That would shut down the region's trade and lead to a spike in oil prices.The Streit of Hormuz & OilThe strait lies between Oman and Iran and links the Gulf north of it with the Gulf of Oman to the south and the Arabian Sea beyond…
President Donald Trump's plan to revive U.S. shipbuilding using massive fees on China-linked ship visits to American ports is causing U.S. coal inventories to swell and stoking uncertainty in the embattled agriculture market, as exporters struggle to find ships to send goods abroad…
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…
“Year-to-date, Canadian crude tanker exports have reached 618 thousand barrels per day (kbpd) up from 388 kbpd during the same period last year, an increase of 59%,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO.When the Trans Mountain…
Russia's seaborne diesel and gasoil exports rose almost by a quarter in January from December as traders sought to increase supplies before new U.S. sanctions come into effect and amid seasonal low domestic demand, LSEG and market sources data show…
The trade of Russian oil for March-loading in Asia has slowed significantly as a growing gap between buyer and seller expectations in China has emerged. This disconnect comes amid rising costs for chartering non-sanctioned tankers following new U…
The California Air Resources Board (CARB) has provided new information about the Vessel Incident Event (VIE) and Terminal Incident Event (TIE) compliance option under its 2020 At Berth Regulation.Emission reduction requirements began on January 1…
Freight rates for Russian ESPO Blend oil loading from the Far Eastern port of Kozmino have jumped fivefold amid a lack of vessels after fresh U.S. sanctions cut availability of tankers, three traders said and data showed.Higher freight costs…
“In 2024, new crude oil tanker deliveries dropped to a 36-year low as only 17 new tankers, with a capacity of 2.5m deadweight tonnes (DWT), joined the fleet. Compared to 2023, the capacity delivered dropped by 74%,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO…
Traffic was suspended in Turkey's Bosphorus strait on Thursday after a tanker had an engine failure during northbound transit through the strait that runs through Istanbul, shipping agent Tribeca and the Transport Ministry said.Tribeca said…
Iraq halted all operations at the Shuiaba refinery in Basra over the weekend following the overloading of fuel oil storage tanks, according to three refinery officials.The disruption occurred after no ships arrived at the Khor Zuhair port to load exported fuel oil since mid-last week…
Greece signed a deal with the European Commission and the European Investment Bank (EIB) on Thursday to set up a fund that will help its tourism-reliant islands wean off fossil fuel and reduce power costs, the Greek government said.Greek Prime…
Commodities reacted with trepidation to the election of Donald Trump to a second term as U.S. President, with most losing ground over fears the global economy will be hit by a new tariff war.The downbeat reaction was in stark contrast to U.S…
Idemitsu Tanker Co., Ltd., IINO Kaiun Kaisha, Ltd. (IINO Lines), Nippon Yusen Kabushiki Kaisha (NYK), and Nihon Shipyard Co., Ltd. announced that the consortium established in early 2024 for the joint research and development of an eco-friendly…
INTERTANKO is opening its Ports with Challenging Water Quality Database to non-members in a bid to increase understanding of the issues that ballast water management systems are facing.Any shipowner can now contribute to the results by submitting their own reports…
