The number of oil tankers passing through the Suez Canal in October has declined sharply, down 27% for the month year-on-year amid persisting subdued demand for oil transport since the April crash in oil prices that fueled high demand for oil tankers…
Oil traders are scouting for newly built supertankers to store diesel for the next few months as they brace for lower demand in Europe amid renewed restrictions aimed at battling the COVID-19 pandemic, shipping and trade sources said.Trading companies…
Cargill, one of the world's biggest charterers of ships, is working with technology partners to fit sails on vessels in its fleet to cut carbon emissions through harnessing wind power, the U.S. agribusiness group said on Wednesday.About 90%…
Nicholas Georgiou has been promoted to Chief Executive Officer of ship owning and management business Lomar, its parent company the Libra Group announced. Georgiou has been Lomar’s Chief Operating Officer since 2010 and succeeds Achim Boehme…
The U.S. Army Corps of Engineers said on Wednesday that it may be able to clear enough debris from Hurricane Delta to open the Calcasieu Ship Channel in Louisiana to vessels drafting up to 30 feet (9.14 m) with restrictions by the end of the week…
The U.S. Army Corps of Engineers said on Tuesday it has identified three obstructions from Hurricane Delta that have to be removed before it can reopen the Calcasieu Ship Channel in Louisiana to deep draft vessels.The Army Corps, however, said…
Mexico's naval authorities on Tuesday ordered the closure of oil, cargo and passenger ports in the Gulf of Mexico and Caribbean ahead of Hurricane Delta, expected to sweep the Yucatan peninsula overnight.Ports shuttered to large ships included Dos Bocas in Tabasco and oil installations in Campeche…
Some of the world's biggest commodities and energy players on Wednesday launched an initiative to cut and track emissions from the ships they charter as efforts intensify to reduce the maritime industry's carbon footprint.About 90% of world trade is transported by sea…
Oil tanker company Frontline said Wednesday its CEO Robert Hvide Macleod had decided step down from his position. The oil and gas shipping firm said its board had appointed Lars H. Barstad, Frontline's commercial director, to take the role as…
Russian shipping company Sovcomflot is guiding investors to expect its initial public offering (IPO) to price at the low end of the marketing range, two bookrunners organizing the transaction said on Tuesday.The first big stock market float…
Golar LNG said on Tuesday Hygo Energy Transition Ltd Chief Executive Officer Eduardo Antonello has taken leave of absence with immediate effect, following a corruption investigation involving him in Brazil.Golar said Antonello's leave was in…
An oil tanker is expected to load crude at Libya’s Marsa el-Hariga terminal this week, the first since a blockade by eastern forces in January slashed the OPEC member’s oil production to a trickle.The Delta Hellas tanker will enter Libya’s Hariga…
China is directing authorities in East China’s Zhejiang province to start planning to build stockpiling bases for energy and agricultural products, part of a push to develop regional free-trade zones (FTZs), a government document said on Monday…
A stalled global economic recovery from the coronavirus pandemic is leading to a fresh build-up of global oil supplies, pushing traders including Trafigura to book tankers to store millions of barrels of crude oil and refined fuels at sea again…
Seatankers, the powerful holding company of Norwegian-born billionaire John Fredriksen, said on Thursday it had hired a veteran fund manager to broaden the group’s portfolio and bring in outside capital in a new unit.Vegard Soeraunet, until…
