Every year around this time, the International Energy Agency (IEA) publishes their Medium Term Oil Market Report. The report includes the customary oil supply and demand forecasts and refinery dynamics. 'Most interesting for us in the…
Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Juinchiro Ikeda) today announced plans to establish two new business units — the Dry Bulk Business Unit and the Energy Transport Business Unit and restructure its dry bulk business divisions — effective April 1…
Tanker shipping freight rates are expected to remain firm in the first few months of 2016, but with the influx of tonnage these rates are expected to soften towards the end of the year, according to the latest edition of the Tanker Forecaster…
In recent days, tankers chartered by several European companies such as Total, Litasco, and Cepsa were monitored loading crude at Kharg Island, a major Iranian loading port, according to Genscape. The vessels are bound for European destinations…
According to a weekly update from the U.S. Energy Information Administration (EIA), an oversupply of European distillates is raising the amount of product being held in floating storage, and also causing changes to shipping routes to slow delivery to the continent…
The tanker company Norstar is setting up a new Commercial Management joint venture based in Westport Connecticut USA named Norstar Chartering (USA) LLC. The new entity is a collaboration between brothers Chris and Tom Bonehill, principals…
JHW has ordered five 85,000 m3 Very Large Ethane Carriers (VLECs) for a JACCAR/Hartmann Reederei joint venture, called UEC (United Ethane Carriers); each vessel will be powered by a single MAN B&W 6G60ME-GI main engine. Dalian Shipbuilding Industry Offshore Co…
1983-built chemical tanker Nusantara Akbar (built 1983) went down off Dumai in Indonesian waters of the Malacca Strait on Saturday after taking on water. The 107-meter-long vessel, which reportedly suffered a leak in its engine room, started taking on water and subsequently sank…
The owner of a harbor tanker has been fined £3,000 with more than £7,000 costs after pleading guilty to a charge of operating a vessel for being dangerously unsafe. Joseph O’Connor was fined at the hearing in Southampton Magistrates Court…
Bibby Ship Management is once again the largest representative for vessels flying the Isle of Man flag in providing representative services for 30% of vessel tonnage registered on the island. This compares with 25% in 2014, according to official statistics…
New York-based energy company Hess has sold Shannon LNG, a proposed gas-import terminal in County Kerry, Ireland’s Sunday Independent has reported. The newspaper did not name the buyer for the site. The identity of the new owner of the…
Russia’s embassy in Nigeria confirmed on Thursday that the Greek-owned oil tanker Leon Dias has been hijacked in the Gulf of Guinea, reports TASS. There are reports that the oil tanker hijacked by suspected militants from the Niger Delta has been freed and is now located some 7…
Crowley Maritime Corporation’s tanker escort and docking services group in Valdez is celebrating over seven million man hours and more than six years since logging its last Lost Time Injury (LTI). In addition to this remarkable number…
Kolkata, 3rd Feb, 2016: Industry leaders, corporate heads, policy makers and senior executives took part in the very first road show which served as a run up to the Maritime India Summit’16.Maritime India Summit is being organized by the…
Piracy and armed robbery on the world’s seas is persisting at levels close to those in 2014, despite reductions in the number of ships hijacked and crew captured, the International Chamber of Commerce (ICC) International Maritime Bureau’s (IMB) annual piracy report reveals…
