South Korea’s leading sea carrier Hyundai Merchant Marine Co. (HMM) has signed a financial contract with Korea Shipping and Maritime Transportation to build five 300,000-ton very large crude carriers (VLCCs), said a report in Business Korea…
Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, announced that it has agreed to sell the Nave Galactic, a 2009-built VLCC of 297,168 dwt to Navios Maritime Midstream Partners for $44.5 million. Navios…
GasLog Partners has announced that it has entered into agreements with a new customer for two new charters plus options for an additional two charters. The agreements include an approximately three and a half year charter for GasLog Santiago…
Russian oil pipeline monopoly Transneft said on Friday oil loadings from the port of Novorossiisk were suspended due to a storm.(Reporting by Vladimir Soldatkin Writing by Christian Lowe and Mark Potter)
The Trump administration's planned steel tariffs and a potential trade battle with China could hurt U.S. liquefied natural gas companies just as a new wave of developments in the fast-growing market is gaining steam, company executives say. China is the fastest growing major buyer of LNG…
GasLog Partners has agreed to acquire GasLog Gibraltar from GasLog (GLOG) for USD 207 million and to fully repay its USD 45 million unsecured term loan from GLOG. GasLog Partners and GasLog announced that they have approved entering into…
Kuwait Oil Tanker Company (KOTC) said on Thursday it had signed a 140 million dinar ($467 million) financing deal with three local banks for eight oil tankers, state news agency KUNA reported. The 10-year financing was obtained from Warba…
Teekay Tankers Ltd. (Teekay Tankers or the Company) announced today the following changes to its Board Audit Committee:• Richard D. Paterson has been appointed as the new Chair of the Audit Committee, effective March 15, 2018.• William Lawes has stepped down as Audit Committee Chair…
South Korean shipping firm Korea Line Corporation (KLC) has placed an order for two new very large crude carriers(VLCC) at country's biggest yard, Hyundai Heavy Industries (HHI), and the company will explore further collaborations with the country's shipbuilders…
In McQuilling Services’ March Short-Term Outlook, we expressed our expectation of higher crude demand out of the Arabian Gulf in the near term due to recent weakness in Dubai crude pricing. In our report, we note the expansion of the Brent-Dubai crude differential…
The chemical tankers market is projected to grow from USD 26.63 billion in 2017 to USD 33.11 billion by 2022, at a CAGR of 4.5% between 2017 and 2022, said a research report. The flourishing chemical industry and increasing use of water…
Ian Taylor, who helped build Vitol into the world's biggest oil trader, will step down as chief executive and continue as chairman, the company said on Friday, naming a long-time ally and insider, Russell Hardy, as the new group CEO. Taylor…
Teekay Corporation announced changes to its Board of Directors.Alan Semple has been appointed as the new Chair of the Audit Committee following the retirement of Eileen A. Mercier effective March 12, 2018.Semple joined the Teekay Board and its Audit Committee in 2015…
Hyundai Samho Heavy Industries (HSHI) has completed building a scrubber-equipped Very Large Crude oil Carrier (VLCC), the first of two ships ordered by Greek shipowner Almi Tankers in August 2016, reported the Pulse. The affiliate with…
South Korea's move to shut coal-fired generators to control air pollution at the same time as nuclear reactors are going into scheduled maintenance is resulting in surging fuel oil imports, as utilities burn the dirty feedstock to meet power demand…
