Overseas Shipholding Group, the tanker company providing energy transportation services for crude oil and petroleum products in the U.S. Flag markets, has entered into agreements with BP Oil Shipping Company USA and BP AMI Leasing to purchase…
Rates for Aframax-class crude oil tankers leaving the U.S. Gulf Coast hit a record this week, according to three shipbrokers, reflecting strong demand in Europe and the Mediterranean for low-sulfur crude.Equinor ASA and Unipec, the trading arm of China's top refiner Sinopec…
The captain of a Vietnamese oil tanker has been jailed for over five years in Singapore for his role in a scheme that saw around $150 million of oil stolen from Shell's biggest refinery over several years.Doan Xuan Than, 47, was sentenced to 66 months in prison on Thursday…
Greece-based international ship-owning company TOP Ships has acquired two ultra-high specification scrubber-fitted 50,000 dwt Medium Range (MR) product/chemical tankers under construction at Hyundai Mipo Dockyard Co., Ltd. in South Korea.The…
The Trump administration on Thursday renewed a waiver for companies to wind down transactions with the Dalian unit of a Chinese tanker company on which it had imposed sanctions in September for allegedly transporting Iranian oil.The waiver, good until Feb…
Confidence in the shipping industry rose in the last quarter to its highest level for 18 months, according to the latest Shipping Confidence Survey from leading shipping adviser and accountant BDO.The average confidence level expressed by respondents to the survey was 6…
Saudi Aramco's shipping arm Bahri has issued an expression of interest (EOI) to charter up to 12 liquefied natural gas (LNG) tankers from 2025, its first foray into the superchilled fuel, industry sources said on Monday.No further details were…
Petroleum and chemical tanker owner AET Tanker Holdings has been awarded three long-term time charter contracts by Brazil Shipping I Limited, a Shell group entity.The subsidiary of Malaysia’s maritime solutions and services provider MISC Berhad…
Norwegian ship owner and operator Ocean Yield ASA has taken delivery of three long range 2 (LR2) product tankers built in China.The three LR2 product tankers are Navig8 Pride (2018-built), Navig8 Providence (2018-built) and Navig8 Prestige (2019-built)…
The UK-based maritime classification society Lloyd’s Register (LR) has granted approval in principle (AiP) to a quartet for an LNG-fueled VLCC design that uses a prismatic GTT Mark III membrane LNG tank.The AiP was granted to China Merchants Energy Shipping (CMES)…
Navig8 Chemical Tankers, an international shipping company focused on the transportation of chemicals, has agreed to enter four of its 25,000-dwt chemical tankers into a pool operated by the Norwegian tanker owner and operator Odfjell.Following the delivery of the vessels…
The Trump administration assured U.S. banks on Wednesday that they can temporarily process U.S. dollar transactions on Chinese shipping companies it had previously sanctioned for allegedly transporting oil from Iran, in a move meant to blunt the impact of the sanctions on global shipping markets…
CMB Financial Leasing (CMBFL) sign a $415.6 million sale and lease back transaction of 20 chemical tankers with Stolt Tankers, a UK-based provider of transportation and storage for liquids, notably specialty and bulk liquid chemicals, the proceeds…
Navios Maritime Acquisition Corporation (NMAC), a Greece owner and operator of tanker vessels, announced the agreement to acquire five product tankers in liquidation of Navios Europe I Inc.On November 22, 2019, an agreement was reached to liquidate Navios Europe I…
World growth and trade volumes under pressure, but still positive. A continued slowdown in global growth, as well as a lower trade multiplier will reduce overall demand for shipping for the rest of this year and through 2020.Expectations for global trade growth have also been lowered for 2020…
