Drewry Maritime Research’s latest Tanker Forecaster report indicates that Suezmax owners got some respite in the first quarter of the year, but things are looking bleak in the longer term. Spot rates firmed on the back of buoyant demand in the Caribs…
Tankship freight rates on the up as global oil trade pattern changesAccording to Bloomberg, the U.S. is importing the least in 13 years as China buys more than ever, lengthening voyages for tankers and effectively reducing the fleet’s capacity…
Drewry’s Chemical Tanker Freight Rate Index dropped during the first quarter, registering its first quarterly decline since 3Q10. Transpacific westbound rates lost as much as 13%. The next quarter is traditionally a lean period, with Drewry…
Operators Dynacom Tanker Management report their motor tanker 'Smyrni' hijacked by pirates in the Arabian SeaAt approximately 1115 UTC on 10 May, 2012, an oil tanker managed by Dynacom Tankers Management Ltd. was reported hijacked while it was transiting the Arabian Sea…
Four tank ships ordered from Ningbo East Shipyard, China are of Non Sea Water Ballast Ships (NOBS) designNingbo Dongfang Shipyard has recently won two newbuilding orders for two 6,500dwt tankers and a 4,500dwt pair from Zhejiang Huayun Shipping and Guangdong Zhanjiang Fuda Shipping…
Nordic Shipholding A/S completes sale of chemical tanker activities.In continuation of company announcement no. 1/2012 published via NASDAQ OMX on 27 March 2012, Nordic Shipholding A/S (formerly Nordic Tankers A/S) today has completed the…
American Maritime Partnership (AMP) Tells Congress That American Fleet Can Meet Additional Demand If Sunoco Refinery Closes Corrects Erroneous EIA Report.In written testimony to the U.S. Congress’ Joint Economic Committee, the American Maritime…
HIGHLIGHTS:• Revenue rose 9.3% to $26.1 million despite loss of bareboat charter revenue from three chemical tankers leased to BLT• Revenue contribution from chemical tankers to be deployed in the ‘Nordic Siva’ pool and product tanker to…
American Commercial Lines Expands Liquid Cargo Fleet With Purchase of Eight 20,000 Barrel Capacity Tank Barges. American Commercial Lines (ACL) today announced the purchase of eight 20,000 barrel capacity tank barges from SeaRiver Maritime Inc…
HSBC reminds UAE forum of growing importance of MENA (Middle East, North Africa) & China trading corridorsTrade corridors between China and the MENA region carry huge economic growth potential for businesses, offering the greatest prospects…
A letter to the U.S. Energy Information Administration (U.S. Department of Energy) from American Maritime Partnership disputes EIA domestic tank vessel estimates. Text of letter is shown below: March 14, 2012Ms. Shirley NeffU.S. Energy Information AdministrationU…
Oil and gas professionals tip Australia to become world’s largest gas exporter by 2030. Delegates at the 2012 Australasian Oil and Gas Conference forecast huge growth in Australia’s role in the energy markets, tipping the country to become the largest gas exporter by 2030…
FSL Trust Management Pte. Ltd., as trustee-manager of First Ship Lease Trust reportes that it has sent notices to its lessees, wholly-owned subsidiaries of PT Berlian Laju Tanker Tbk, to demand for the redelivery of its three chemical tankers…
Overseas Shipholding Group, Inc. (NYSE: OSG), a market leader in providing energy transportation services, announced that its Board of Directors has suspended the payment of regular quarterly dividends. No dividend will be paid in the first quarter of 2012…
Vale uses Logmarin to develop the world’s largest floating bulk terminal. Genoa-based Logmarin Advisors, part of the RINA Group, has enabled Brazil’s Vale SA to convert the Ore Fabrica (the former VLCC Front Duchess) into the world’s largest transhipment vessel…
