NORDEN is in the process of increasing its tanker exposure. The purpose is to take advantage of the business opportunities provided by the fluctuations of the cyclical market, said a communicaion from the company. ”During the strong tanker…
Navig8 Chemical Tankers Inc, international shipping company focused on the transportation of chemicals, has entered into contracts to acquire 32 modern, fuel-efficient newbuilding chemical tankers. As of today, 31 of these vessels have been delivered and are in operation…
Oil producer Saudi Aramco has selected Chelsea Technologies Group (CTG), designer and manufacturer of sensors for the maritime sector, to provide benchmark testing for compliance with ballast water standards. This follows Saudi Aramco’s announcement…
Russia was now pitching itself as an important transporter of European gas to Asia, reports Sputnik quoting Danila Bochkarev, a senior fellow at the EastWest Institute in Brussels. The Russian supertanker Christophe de Margerie is en route to South Korea…
Given the weak freight rate outlook for LPG shipping over the next twelve months, Drewry believes there is more downside risk to the second-hand values of very large gas carriers (VLGCs), according to the latest edition of the LPG Forecaster…
U.S. Energy Information Administration (EIA)'s latest Short-Term Energy Outlook projects that the United States will export more natural gas than it imports in 2017. The U.S. has been a net exporter for three of the past four months and…
The Belgium-based crude oil tanker company Euronav has taken affirmative action in response to a weaker tanker background, said a press statement from the company. The Company has a strong balance sheet with low leverage and access to…
Italy's ENI and U.S. oil and gas firm Anadarko signed agreements with the Mozambique government on Thursday to build two liquefied natural gas terminals in the southern African country. The terminals will be built in Cabo Delgado province…
Brazil's Petroleo Brasileiro SA has been authorized to export idle liquefied natural gas (LNG) in the spot market, according to the Wednesday issue of the official gazette.According to the text, Petrobras has been given the green light to export up to 6…
Were China's commodity imports in July a continuation of the trend of robust growth, a pause from the recent strength, or early signs of a slowdown? When numbers aren't unequivocally pointing in the same direction it often becomes possible to interpret them in different ways…
Qatar Navigation (Milaha), a top Doha-based shipping and logistics group, said it was shifting its regional trans-shipment hub from Dubai to the Omani port of Sohar after a diplomatic crisis in the region disrupted Qatar's trade. Milaha…
Citing declining vessel values and 'volatile industry conditions,' FSL Trust Management Pte. Ltd., as trustee-manager of First Ship Lease Trust, announced the Trust has taken an impairment charge of $24.1 million on eight vessels, and consequently a net loss of $21…
World trade is growing again which will give a big boost to middle distillates such as diesel used in the high-power engines that move almost all freight.World trade volumes grew by 5 percent in the three months to May compared with the same period a year earlier…
Azerbaijan's oil shipments via Russia jumped to 818,664 tonnes in January-July this year from 559,065 tonnes in the same period last year, state oil company SOCAR said on Tuesday.The increase was partly because SOCAR shipped no oil via the…
The Korean shipbuilder Hyundai Heavy Industries (HHI) won a contract worth up to $600 million from Netherlands-based energy and commodities company Vitol to build as many as eight gas tankers, Reuters reported. HHI will construct two liquefied petroleum gas (LPG) tankers with a capacity of 84…
