U.S. refiners are scaling back on hiring ships for longer periods to save on costs in another sign of uncertainty over when global oil demand will return to pre-COVID levels, shipping and trade sources say.The global rollout of coronavirus vaccines…
Operations at the Houston ship channel were suspended early on Monday morning due to dense fog in the region, a Galveston Texas Pilots dispatcher said.The ship channel is a 53-mile (85 km) waterway connecting the busiest U.S. petrochemical port with the Gulf of Mexico…
Q88 LLC, a provider of SaaS technology to the maritime industry, and Danaos, a provider of specialized software for shipping, announced the automated integrations to questionnaire management data for shipowners, charterers and operators.This…
A new set of independent indices for the liquified natural gas (LNG) seaborne trade went live this week (2 March), based on the carriers burning LNG, rather than marine fuel oil or marine gas oil, as their primary fuel.Published twice weekly…
German shipping company UPT United Product Tankers GmbH & Co. KG said Matthias A. Schoeller has been named co-managing director, succeeding Stefan Ciegelski who will retire by the end of June.Schoeller, having worked as the company's chartering manager for the last 10 years…
Cooperation strengthens chemical platform; underpins strategy to operate more sustainable, non-fossil fuel cargoes Ardmore Shipping Corporation announced a new partnership with Carl Büttner, taking on the commercial management of four chemical tankers on behalf of the Bremen-based shipowner…
About one third of the roughly 150 ships owned by companies controlled by Singapore tycoon Lim Oon Kuin and his family have been sold as part of efforts to repay billions of dollars of debt owed to creditors, two sources told Reuters.Accounting firm Grant Thornton…
Cheniere Energy Inc, the top U.S. liquefied natural gas producer, on Wednesday raised its full-year adjusted earnings forecast, predicting higher demand for the fuel as COVID-19 vaccinations boost economic recovery.Lockdown measures implemented…
Cargill and Maersk Tankers are aiming to unlock more competitive and transparent bunker pricing and improved customer service through a new strategic partnership combining their bunker volumes, offering a new bunker procurement service to tramp shipping companies and trading houses…
A deep freeze that hit Texas over the weekend wrought more havoc on the U.S. energy sector on Tuesday, curbing output in the largest U.S. oil field, knocking out a fifth of the nation's refining capacity, and shutting a key shipping channel in Houston…
Libya's Petroleum Facilities Guards have stopped blockading the port of Hariga at Tobruk after being paid, they said in a video statement on Wednesday whose authenticity was confirmed by a guards member.The stoppage at Hariga began last month and contributed to a decline in Libyan oil output…
Belgium's Euronav expects pressure on freight rates to continue until late 2021, the tanker operator said as it reported weaker than expected quarterly results on Thursday, citing OPEC+ export cuts because of the COVID-19 pandemic's impact on demand for oil…
A plunge in the volume of crude oil stored on ships combined with unexpected cuts from top producer Saudi Arabia have created a glut of vessels available for hire, pressuring the outlook for supertankers this year.Earnings for very large crude…
Tanker shipping was in many ways the odd one out of the shipping sectors in 2020; at the start of the pandemic, the market was strong, only to finish off the year in the doldrums, while the other sectors stayed profitable. Even a demand boost in December only managed to lift earnings slightly…
PAO Sovcomflot (SCF Group) and Total have concluded a time charter agreement for up to seven years for a newbuild 174,000-cubic-meter-capacity liquefied natural gas (LNG) carrier, scheduled to be delivered Q3 2023 and to be owned and operated by SCF…
