Increasing port delays in Asia, U.S. and Europe will provide only limited support and MSI predicts rates will fall further in Q3.After three months of OPEC+ production cuts, tanker markets are feeling the pressure with both crude and products…
Synergy Group and D.S. Norden have formed a new 50/50 joint venture to handle the technical management of Norden’s owned tanker vessels. Norden Synergy Ship Management (NSSM) will be headed by Henrik Christensen who previously managed Norden’s Technical Department…
A limited reopening of Libyan oil terminals could allow the export of some crude oil and condensate stored at Es Sider, Brega, Zueitina and Hariga, but leaves a months-long blockade of the ports in place, oil engineers say.East Libyan authorities…
Norwegian tanker shipping company Odfjell SE said it has appointed Øistein Jensen to fill the newly created Chief Sustainability Officer (CSO) executive position. Jensen, currently Odfjell’s Chief of Staff, takes on the new role and will lead Odfjell SE’s company-wide work on environmental…
The Oil Companies International Marine Forum (OCIMF) said it is now providing a remote inspection option as an additional tool within its Ship Inspection Report (SIRE) program as a temporary measure to help guard against the spread of COVID-19…
U.S. crude oil shipments to China will rise sharply in coming weeks, U.S. traders and shipbrokers and Chinese importers said, as the world’s top economies gear up to review a January deal after a prolonged trade war.Chinese state-owned oil firms…
The court-appointed manager of Singapore Ocean Tankers (Pte.) Ltd is seeking to reclaim about $19 million from the Lim family directors of the firm, who allegedly transferred the funds from the shipping company to their accounts in April, court documents show…
The Singapore High Court has appointed Grant Thornton Singapore as the supervisor of Xihe Holdings Pte Ltd and four of its subsidiaries, a source with knowledge of the matter said on Thursday.The court decision followed an application by Oversea…
Maersk Tankers announced it has appointed Eva Birgitte Bisgaard as its Chief Commercial Officer (CCO) effective October 1.Bisgaard will joining Maersk Tankers after 19 years with the Danish Telco operator TDC, during which time she held a wide range of senior management positions…
A joint research and development (R&D) project initiated by a group of Japanese maritime companies aims to utilize ammonia as a marine fuel and establish methods for the mass transportation and supply of ammonia.The joint R&D agreement signed by NYK Line…
Tanker ship owner Xihe Group of Companies appointed V.Group as the technical manager for 16 of its modern tankers.“This strategic partnership kickstarts Xihe’s engage-ment of independent, world-class professional companies to provide technical and commercial management for our vessels…
Venezuelan state-run oil firm PDVSA has begun offering to ship its own oil, figuring in the costs in crude supply deals to help customers who have struggled to hire vessels to carry the country’s oil due to U.S. sanctions, according to company documents seen by Reuters…
The chairman of Libya's National Oil Corp (NOC) on Saturday warned against the risk of a disaster at the country's oil ports due to a growing military presence with storage tanks held at capacity for months due to a blockade.'Oil ports are closed…
Qatari shipping company Nakilat said it has assumed full ship management and operations of Q-Max LNG carrier Al Samriya from Shell Trading and Shipping Company Limited with effect from 27 July, as part of the second phase of its planned fleet management transition program…
The United States has increased oil supply to Europe in July for the first month since May, making up for output cuts from OPEC+ members, according to traders and Refinitiv Eikon data.U.S. crude supply to Europe reached nearly 31 million barrels in July…
