Oil tanker company Frontline has appointed Lars H. Barstad as the Chief Executive Officer of Frontline Management AS with effect from September 1, 2021.Barstad currently serves as the Interim Chief Executive Officer of Frontline Management AS…
During the first seven months of 2021, only three actively trading Very Large Crude Carriers (VLCCs) have been sold for demolition. The current market for seaborne transportation of crude oil is weak and has caused freight rates to drop to multi-year lows…
China's crude oil imports rebounded in July from a six-month low as state-backed refiners ramped up output after returning from maintenance, though independent refineries slowed restocking amid probes by Beijing into trading and taxes.China brought in 41…
China has switched from driving global demand for major commodities to being a drag on growth, with July's customs data confirming the weakening trend for imports of crude oil, iron ore and copper.The exception to the trend was coal, but the…
Shell Tankers (Singapore) Private Limited will contribute 10 medium-range product tankers (MRs) to the Signal Maritime MR pool.In line with the shipping industry’s decarbonization efforts, Shell and Signal have also agreed to collaborate on carbon emissions reduction initiatives…
Tanker operator Penfield Marine and Macquarie Group’s Commodities and Global Markets division announced the execution of Penfield’s first carbon-neutral voyage in a collaboration that will enable Penfield Marine to offer environmentally differentiated freight products to its customers…
A new ship mooring tool has been engineered to perform static and dynamic ship mooring analyses in a rapid, user friendly and intuitive manner.SHIPMOOR was created to make the assessment of mooring a liquefied natural gas (LNG) carrier a straightforward and user-driven process…
The first cargo ships from Dubai that docked last year in the Mediterranean port of Haifa were met by celebration in Israel. Flags waved. Reporters gathered. The prime minister walked the pier and gave a speech about the fruits of making peace…
The European Football Championship is on the verge –and kicking off on Friday June 11. Therefore, BIMCO’s shipping number of the week had to be football-infused today. Adding extra topping to this sporting feast is the fact that the 2021 Copa America starts at the same time…
Commercial ship manager Signal Maritime announced it is launching a new pool for MR product tankers building upon the success of its Aframax pool launched in 2018. “The clean tanker market has always been a highly competitive environment with the presence of many experienced owners and pools…
Cargo-handling simulator training for liquefied natural gas (LNG) carriers and oil tankers conducted by NYK SHIPMANAGEMENT PTE LTD (NYKSM) in an online environment has been certified classification association DNV.The DNV certification confirms…
Golar LNG announced on Thursday it has appointed appointed Karl Fredrik Staubo as CEO, filling the void left by prior chief executive Iain Ross, who stepped down in April.Staubo has since May 2020 been the chief executive officer of Golar LNG Partners LP…
A Singapore prosecutor filed 23 additional forgery-related charges on Friday against Lim Oon Kuin, the founder of collapsed oil trading firm Hin Leong Trading Pte Ltd.Last year, police had charged the 79-year-old former oil tycoon, better known as O K Lim…
Global commodity prices are expected to stay firm around current levels in 2021 after recovering in the first quarter buoyed by strong economic growth, the World Bank said on Tuesday.Energy prices are expected to average more than one-third higher this year than 2020…
Longer sailing distances cushion fall in US crude oil exportsTon mile demand generated by US crude oil exports has fallen by 9.7% in the first two months of 2021 compared with the start of 2020. The fall could however have been much worse; In volume terms…
