Oil freight rates in the Middle East and Asia have increased by almost 20 percent today following new US sanctions on units of Chinese company COSCO for its alleged involvement in ferrying crude oil out of Iran.In what the U.S. State Department…
Product tanker operator Maersk Tankers has now completed its acquisition of seven chemical tanker ships, which the company wil take over from AET Tanker Holdings, a Malaysian-owned global shipping company specializing in the ocean transport of crude oil and refined products…
Simpson Spence Young (SSY), one of the largest independent shipbroker, has strengthened its tanker desk by hiring two experienced brokers to bolster its London suezmax team.The addition of Oliver Rae and Dean Abrahams brings the size of SSY's global team dedicated to the suezmax market to 17…
Hunter Tankers, a wholly owned subsidiary of the Norwegian investment company Hunter Group, has taken delivery of its first of seven identical ECO design VLCC newbuildings, the Hunter Atla.The vessel was handed over from the South Korean shipbuilding…
As part of its European growth strategy, the GAC Group has opened its first office in the Republic of Ireland, providing a wide range of shipping services to vessels at the country’s ports as well as in Northern Ireland.GAC Ireland provides…
On September 24, 2019, the Board of Directors of PAO Sovcomflot elected Sergey Frank as its new Chairman. Igor Tonkovidov was appointed as the company's new Chief Executive Officer. Both appointments are with immediate effect.The meeting was attended by Maxim Akimov…
The world's largest oil tanker shipping company Frontline Ltd has declined options to buy four more tankers from Trafigura Marine Logistics (TML) and said that it will keep to buying only 10 tankers.Last month, the Bermuda based company announced…
ABS, the global provider of classification and technical advisory services to the marine and offshore industries, announced that it is collaborating with South Korean shipbuilder Samsung Heavy Industries (SHI) on a next generation LNG carrier…
Sergei Frank will step down as president and chief executive of Russian state-controlled shipping giant Sovcomflot after 15 years at the helm, four sources familiar with the decision told Reuters on Tuesday.Frank will give up operational control…
Commodities trader Cargill and shipowner Maersk Tankers aim to build a joint Medium Range (MR) tanker pool with more vessels as they seek to cut emissions.'The strategic partnership will improve flexibility for customers and reduce fuel consumption and emissions…
Hunter Tankers, a subsidiary of Norwegian investment company Hunter Group, has selected Tankers International Ltd as commercial manager for its fleet of very large crude carriers (VLCCs).According to Oslo-based company, Tankers International…
Bermuda-based ship-owning and ship chartering firm Ship Finance International Limited (SFL) has agreed to purchase three very large crude carriers (VLCCs) from Norwegian investment company Hunter Group. The 300,000 dwt oil tankers are currently…
Japan’s third-largest oil refining company, Cosmo Oil, , has started building stocks of very-low-sulfur fuel oil (VLSFO) for supply to domestic marine fuel markets from next month (October 2019) ahead of the IMO 2020 mandate requiring ships globally to reduce their bunker fuel sulfur content to 0…
The United States on Wednesday sanctioned a sprawling network of firms, ships and individuals allegedly directed by Iran's Islamic Revolutionary Guard Corps that supplied Syria with oil worth tens of millions of dollars in a breach of U.S. sanctions…
The international owner and operator of modern, fuel efficient 'ECO' tanker vessels TOP Ships announced that its total revenues increased by 51% to $29.8 million for the six months ended June 30, 2019 compared to $19.7 million for the same period in 2018…
